Business value is an economic term, but nowadays there is a practical application for companies, projects, and products being developed.
The following article shows examples of business value-added created by BVOP (Business Value-Oriented Principles Ltd.). The article explains some of the topics.
Business value through Workflows
Workflow organization is the most important thing in an organization. Workflows define the business model to a great extent. The work processes are the most important in my opinion is one organization and one team respectively, because they give guidance on how to carry out a project. Often, based on the workflows, prioritization of the stages in the preparation of a project can be made. More ideas for managing business value can be found here: Examples of Business value-added for organizations, projects, and products
Of great importance are the people in the organization, the people in the project team and what kind of specialists they are. People and their motivation are key to any team. Their business value is recognized. People as a team have their own specificity – a team is successful when each team member is motivated enough. It is no accident that competent and motivated employees are the best employees – they are always starring in one organization and lead to success both at the project level and at the organization level.
Relationships between business and people
When business-to-people relationships are about communicating at different levels within an organization, as well as communicating with customers, this is an extremely important priority. For the control process to proceed normally – communication on the horizontal and vertical is essential. In practice, the link between the different units is communication in an organization.
Communications are part of every organization’s life. Of course – there is a difference between communication and information. Information is a collection of data that takes the form of a message – the sender communicates by sending the information, but does not seek feedback. In communication, feedback is important because it makes a good team really good. Communication is the process of creating, transmitting, receiving and using information between people, through which they symbolically express their behavior in relation to mutual actions and relationships.
Making a common contribution to me means building a spirit and a work atmosphere in which each employee is treated as a partner and the importance of each is recognized.
The overall contribution is also made by the leader of the organization or the leader in the project team, who has primary responsibility in building the spirit. The role of managers, whether we’re talking about line managers or project managers, is to focus on serving their people and they facilitate the movement forward.
The total contribution also depends on each team member because it is built on the contribution of each one. It is important for the project manager to lead the team to a point where it is difficult to determine who exactly leads, then when the work becomes a fertile race for who will give more than themselves for the overall contribution to the goals of the team and the organization.
Business value through innovation
Recently, innovation has been much talked about. With the rise of technology – every company is striving for innovation to be competitive and to innovate. Of course, innovations are not so applicable in certain areas to have such a priority, but at this stage, they are of great importance to me. Of all the definitions I have read on the internet, I like the following the most – innovation is an economic phenomenon – it means a massive solution that brings a lot of revenue or benefits to society on a large scale; innovation is a put into use creative solution – applied invention, again in the economic sense; innovation is a guaranteed positive change for society. For me, innovation is something new and useful in a nutshell, something that will facilitate a process, shorten the time and bring benefits to the organization.
The PolicyMatters.net magazine has a detailed publication on the same topic: Managing business organizations and adding business value. An Agile Manager’s Guide to the Theory of BVOP.org You definitely need to read it.
Read more on KievPress.info: Adding business value in organizational project management and product development practices