Ah, the “non-routine problem.” It’s arguably the single biggest type of problem one can run into at work. New research points to a solution. Research Summary — Solving non-routine problems—problems for which current organizational, recurrent action patterns do not offer a predetermined, effective solution—can be an important source of value creation.
In recent years, remote teams have become increasingly popular as more and more businesses embrace the benefits of remote work. With remote teams, businesses can access a broader talent pool, reduce overhead costs, and allow their employees to achieve a better work-life balance. However, remote teams can also present unique challenges, including building trust and communication, which are crucial for success.
In response to customer complaints that it was becoming confusing to figure out whether they were viewing the DVD-rental or on-demand portion of the Netflix site, the company’s CEO decided to split these two services into separate businesses — and charge for each individually. The result was an updated Netflix subscription that offered streaming content only, and a new standalone DVD-rental service called Qwikster.
Financial services are at a pivotal point in the industry. The meteoric rise of NFTs and cryptocurrency has given way to rumblings of a pending recession, fuelled by the collapse of several notable banks in recent months. As we emerge from the pandemic, however, some things haven’t changed: virtual work is the new normal. Many employees are still remote and customers expect to connect with your company on their mobile devices.
From managing daily tasks to improving overall efficiency, businesses rely on effective process management to stay ahead of the competition. But with so many moving parts, it can be challenging to keep track of everything. This is where Business Process Management software (BPM software)comes into play. Think of your BPM system and software as a powerful tool that helps you to manage and optimize processes, improve efficiency, reduce costs, and drive growth.
We’ve all been there. Unlocking our phone, opening the Uber or Lyft app, and ordering a ride. When we do so, both the driver and rider are agreeing to certain terms and conditions: picking the rider up within a designated time frame, how much the trip should cost, an estimated arrival time, and delivering the rider to their destination safely. This agreement of sorts is similar to Service Level Agreements (SLAs), which ensures service obligations and promises are kept.
Sixty percent of product managers (PMs) say that they want to learn more about how to build a product strategy, according to a 2022 Product Management Festival report. This is not surprising since a PM can drive more impact in their organization by being a strategic thinker. In fact, research by the Management Research Group suggests that behaviors associated with strategic thinking skills are: Product strategy is like a story a PM tells themselves, their team, and their stakeholders.
