Identify you Business Need

Business Need is usually arisen either to solve the existing business problem, or take care of new business opportunity.

Problem:

For example, in first case, a multi-brand retail store managers want to analyze their historical data to predict the future trends to display particular goods in a particular season.  This can be achieved effectively if the managers have the required past data to project the growth and strategies.

In second case, a customer is frustrated when shopping online on a particular website as it either breaks down or slows down. At times some of the customers just leave the website and go to the competitors.

In third scenario, employees are complaining of repeated work they are doing for several years and those processes can be automated or improved.

All these scenarios are coming from either fixing the existing problems or process through feedback process. This may be achieved through ‘bottom-up approach’ management techniques.

However, in first scenario, the retail store can go for decision support system which can be done through ‘peer-to-peer approach’.

So there is a business need to fix the problem which could lead to either improved customer satisfaction or improved employee moral or improved decision making process.  It may also lead to reduced operations cost by improving the operational process that could lead to increased profitability.

Opportunity:

‘Business need’ also be achieved by identifying the ‘right opportunity’ in the organization.

For example, Times of India is providing online newspaper in the form of epaper which is nominally charged outside India that caters to NRIs who is keen in keeping in touch with home country. This is a value additional services TOI is providing to their customers. In addition, TOI is also generating additional revenue through online display advertisement over the epaper edition.

A management could decide to launch brand new products/services to take new business opportunity or expand the existing one. Either way there will be ‘need’ of brand new business solution. These decisions are typically taken from ‘top-down’ management approach.

These kinds of business need result into ‘increased revenue’ through new and existing business line. It also adds great value to shareholders.

Finally, it is all about “what value the proposed solution will bring in to the business?’

Next article will focus on how to calculate the ‘value’ for the business need...

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