Bim Analysis
Introduction
Just as companies were forced to realize that they could not operate successfully without making their employees a priority, they are now realizing that they must equally support and integrate all functional departments within their organization to become and remain leaders in their industry. Competition in the business world continues to increase and many firms must operate globally just to keep pace with their competitors. At the heart of global business growth is information technology. Developments in technology have allowed corporations to increase the amount and variety of information they can process; increase the amount and variety of information they can store; and increase the amount and variety of information they can share with individuals and businesses around the world. These new communication channels have allowed firms to communicate with one another even when the difference in time zones and geographic locations is vast. The internet, electronic mail (E-mail), and electronic business (E-Business) have pioneered the bridge between all gaps of time and distance.
The intensity of competition accelerates the need for strategic management, and a company must be better or more innovative than their competitors in developing their strategy and reaching their goals and objectives. Competitive intensity requires that the parts that make up an organization work more effectively and efficiently together. This means that the functional departments of the firm such as management, marketing, human resources, production and operations management, accounting and finance, research and development, computer/management information systems, among others must integrate their tasks to promote a synergistic effect that will take hold throughout the organization. Synergy is captured through employees working together to reach a greater common goal (2+2=5), the magnitude of which they would not otherwise achieve working independently of each other.
Just as companies were forced to realize that they could not operate successfully without making their employees a priority, they are now realizing that they must equally support and integrate all functional departments within their organization to become and remain leaders in their industry. Competition in the business world continues to increase and many firms must operate globally just to keep pace with their competitors. At the heart of global business growth is information technology. Developments in technology have allowed corporations to increase the amount and variety of information they can process; increase the amount and variety of information they can store; and increase the amount and variety of information they can share with individuals and businesses around the world. These new communication channels have allowed firms to communicate with one another even when the difference in time zones and geographic locations is vast. The internet, electronic mail (E-mail), and electronic business (E-Business) have pioneered the bridge between all gaps of time and distance.
The intensity of competition accelerates the need for strategic management, and a company must be better or more innovative than their competitors in developing their strategy and reaching their goals and objectives. Competitive intensity requires that the parts that make up an organization work more effectively and efficiently together. This means that the functional departments of the firm such as management, marketing, human resources, production and operations management, accounting and finance, research and development, computer/management information systems, among others must integrate their tasks to promote a synergistic effect that will take hold throughout the organization. Synergy is captured through employees working together to reach a greater common goal (2+2=5), the magnitude of which they would not otherwise achieve working independently of each other.
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