A product is a crucial element for any business, regardless of size. It can be defined as a tangible or intangible good or service that is produced through a combination of resources and activities to meet the needs and wants of customers in the market (Olson et al., 2021). In the context of small businesses, products play a vital role in driving growth, creating differentiation, and sustaining competitive advantage.
The notion of the product has evolved from being just a physical entity to a complex combination of tangible and intangible attributes (Olson et al., 2021). Traditional product-based businesses were organized around producing tangible goods that could be sold to customers. However, with the rise of the service economy, businesses have started focusing on creating intangible services that can fulfill customer needs (Olson et al., 2021). This shift in the notion of products has led to modern product-based businesses offering a combination of goods and services to meet customer demands (Olson et al., 2021). For example, a coffee shop not only sells coffee as a tangible product but also offers an intangible service of providing a warm and cozy atmosphere for customers to enjoy their drinks.
In small businesses, the notion of product is especially significant as it dictates the overall business strategy and operations. Small businesses are often limited in resources and capabilities and rely heavily on their product to attract and retain customers (Bagale et al., 2021). The success of a small business is highly dependent on how well its product is received in the market. A unique and desirable product helps small businesses differentiate themselves from their competitors and gain a competitive advantage (Bagale et al., 2021). For example, a small boutique that offers customized, hand-made clothing will attract customers who value unique and personalized products, giving it an edge over mass-produced clothing brands.
Moreover, the product also determines the business activities and processes a small business must engage in to develop, market, and deliver its product to customers (Aydin, 2021). This is particularly crucial for small businesses as they have limited resources and need to optimize their operations to succeed (Aydin, 2021). For instance, in a product-based business, the main focus is on research and development, manufacturing, and quality control, while in a service-based business, the emphasis is on innovation, customer service, and delivery. The nature of the product influences the type of skills, technologies, and partnerships that a small business needs to acquire to support its product development and delivery processes (Aydin, 2021). Therefore, the product is crucial in shaping small businesses’ overall organizational structure and operations.
The notion of product is a critical aspect of small businesses, as it not only defines the nature of the product but also influences how the business is organized and the type of activities it engages in (Aydin, 2021). The traditional view of a product as a tangible good has evolved to include a combination of tangible and intangible attributes in modern product-based businesses. For small businesses, a unique and desirable product can help create a competitive advantage and drive growth (Aydin, 2021). Furthermore, the product also dictates the business activities and processes a small business must engage in to successfully develop and deliver its product. Therefore, small businesses must understand the notion of product and its impact on their operations to effectively utilize it for success.
This literature review will focus on the theme of how people interact and communicate within business organizations.
In today’s fast-paced and globalized business environment, people are the most valuable assets of any organization. The individuals within a business drive innovation, create value for customers and ultimately determine the success or failure of an enterprise (Gil-Gomez et al., 2020). Understanding how people work together in business organizations is crucial for any business’s sustained growth and development.
One of the key aspects of building a successful business is effective communication (Gil-Gomez et al., 2020). Communication is the process of exchanging information and ideas, and it plays a vital role in the functioning of business organizations. Effective communication enables individuals and teams to work together towards a common goal, builds trust, and enhances decision-making processes (Gil-Gomez et al., 2020). A study by (Gil-Gomez et al. (2020) found that companies with effective communication practices have a greater chance of completing projects on time and within budget. Moreover, clear and open communication can also promote a positive work culture and improve employee satisfaction and retention rates.
Communication in business organizations can take various forms, including face-to-face interactions, phone calls, emails, and virtual meetings (Syakur et al., 2020). With technological advancements, virtual communication has become increasingly prevalent in recent years, especially in globalized organizations. However, virtual communication also presents challenges, such as language barriers, cultural differences, and potential tone and body language misinterpretations. As such, businesses must facilitate effective virtual communication through training and appropriate tools and platforms (Syakur et al., 2020). This can lead to increased collaboration and productivity among team members, even when geographically dispersed.
Apart from communication, the structure of a business organization also plays a significant role in determining how people work together. The structure refers to the framework of roles, responsibilities, and relationships that determine how tasks and decisions are distributed among individuals within an organization (Canning et al., 2020). Business structures can vary from hierarchical, with a clear chain of command, to flat, where decision-making is decentralized and teams have more autonomy. The type of structure adopted can significantly impact communication, teamwork, and collaboration (Canning et al., 2020). For instance, a highly hierarchical structure may limit communication and input from lower-level employees, whereas a flat structure may encourage more open communication and collaboration across different levels.
Effective management is also crucial for fostering positive interactions and communication within a business organization. Management refers to planning, organizing, leading, and controlling an organization’s resources to achieve predetermined goals (Canning et al., 2020). Good managers should not only possess technical knowledge and skills but also have the ability to understand and motivate their team members (Canning et al., 2020). For example, a transformational leader can inspire and empower their team, leading to higher engagement and productivity. In contrast, an authoritarian leader may create a negative work environment that can hinder effective communication and collaboration.
People are the backbone of any business organization, and how they interact and communicate can significantly impact the success or failure of the enterprise. Effective communication, facilitated through various means such as virtual tools and appropriate business structures, is crucial for promoting collaboration, trust, and positive work culture (Canning et al., 2020). Moreover, effective management is essential for creating a conducive environment for positive interactions and fostering employee engagement and productivity (Canning et al., 2020). As businesses evolve and adapt to the changing landscape, understanding and addressing how people work together within organizations will remain critical for sustained growth and success.
Theme: What Constitutes a Good Business Process
A business process can be defined as a series of steps or activities that are carried out in order to achieve a specific goal or outcome within an organization. These processes are crucial for the smooth functioning of any business, as they help define the roles and responsibilities of employees, streamline operations, and maximize efficiency and productivity (Fischer et al., 2020). However, not all business processes are created equal. For a business to truly benefit from its processes, it is important to have a well-defined and well-designed business process.
One of the key components of a good business process is clarity (Fischer et al., 2020). This means that the process should be clearly defined and understood by all employees involved. It should have a clear start and end point and well-defined steps in between (Fischer et al., 2020). This ensures no confusion or ambiguity, leading to more efficient and effective execution. Clear processes also help identify potential challenges, allowing timely interventions and improvements (Fischer et al., 2020).
Another important aspect of a good business process is its alignment with the overall goals and objectives of the organization (Untari and Satria, 2021). A process that does not contribute to achieving organizational goals is redundant and a waste of resources. Hence, it is important to regularly review and align business processes with the organization’s strategic objectives (Untari and Satria, 2021). This ensures that all efforts and resources are directed towards the common goal, leading to better outcomes.
Efficiency is another critical factor in determining the quality of a business process (Untari and Satria, 2021). This refers to achieving the desired outcome in the most effective and timely manner. In order to achieve efficiency, it is important to eliminate any unnecessary steps or activities in the process. This can be done through continuous monitoring and evaluation and by making necessary improvements to streamline the process (Untari and Satria, 2021). Additionally, the use of technology and automation can greatly improve a business process’s efficiency, reducing manual work and potential errors.
The involvement and engagement of employees are also crucial for a good business process (Ritter and Pedersen, 2020). Employees are the ones who execute the processes and are, therefore, key stakeholders in its development. It is important to involve them in the process design and implementation, as this ensures their buy-in and brings in different perspectives and ideas for improvement (Ritter and Pedersen, 2020). Involving employees also leads to a sense of ownership and accountability, leading to better execution of the process.
Flexibility is another important quality of a good business process (Ritter and Pedersen, 2020). In today’s rapidly evolving business landscape, processes need to be adaptable and agile. This means they should be able to accommodate changes and adaptations in the business environment while maintaining efficiency and effectiveness (Ritter and Pedersen, 2020). A rigid process can lead to delays or inefficiencies when faced with unexpected changes. Hence, it is important to design flexible processes that can be easily adjusted as needed.
In addition to the above factors, a good business process should have clear communication and documentation. Communication is crucial in ensuring that all stakeholders are aware of their roles, responsibilities, and the overall process (Ritter and Pedersen, 2020). This includes clear communication of any changes or updates to the process. Documentation, on the other hand, ensures that there is a record of the process for future reference and evaluation. It also helps in identifying areas for improvement and potential risks.
A good business process is one that is clear, aligned with organizational goals, efficient, involves employee engagement, is flexible, and has clear communication and documentation. It is important for organizations to continuously monitor and improve their processes to achieve maximum efficiency and effectiveness. By paying attention to these factors, businesses can ensure that their processes are not just steps to follow but tools for achieving their desired goals and outcomes.
References
Aydin, H., 2021. Market orientation and product innovation: the mediating role of technological capability. European Journal of Innovation Management, 24(4), pp.1233-1267.
Bagale, G.S., Vandadi, V.R., Singh, D., Sharma, D.K., Garlapati, D.V.K., Bommisetti, R.K., Gupta, R.K., Setsiawan, R., Subramaniyaswamy, V. and Sengan, S., 2021. Small and medium-sized enterprises’ contribution in digital technology. Annals of Operations Research, pp.1-24.
Canning, E.A., Murphy, M.C., Emerson, K.T., Chatman, J.A., Dweck, C.S. and Kray, L.J., 2020. Cultures of genius at work: Organizational mindsets predict cultural norms, trust, and commitment. Personality and Social Psychology Bulletin, 46(4), pp.626-642.
Fischer, M., Imgrund, F., Janiesch, C. and Winkelmann, A., 2020. Strategy archetypes for digital transformation: Defining meta objectives using business process management. Information & Management, 57(5), p.103262.
Gil-Gomez, H., Guerola-Navarro, V., Oltra-Badenes, R. and Lozano-Quilis, J.A., 2020. Customer relationship management: digital transformation and sustainable business model innovation. Economic research-Ekonomska istraživanja, 33(1), pp.2733-2750.
Olson, E.M., Olson, K.M., Czaplewski, A.J. and Key, T.M., 2021. Business strategy and the management of digital marketing. Business horizons, 64(2), pp.285-293.
Ritter, T. and Pedersen, C.L., 2020. Digitization capability and the digitalization of business models in business-to-business firms: Past, present, and future. Industrial Marketing Management, 86, pp.180-190.
Syakur, A., Susilo, T.A.B., Wike, W. and Ahmadi, R., 2020. Sustainability of communication, organizational culture, cooperation, trust and leadership style for lecturer commitments in higher education. Budapest International Research and Critics Institute (BIRCI-Journal): Humanities and Social Sciences, 3(2), pp.1325-1335.
Untari, D. and Satria, B., 2021. Integration of supply chain management to business performance and business competitiveness of food micro industry. Uncertain Supply Chain Management, 9(3), pp.705-710.
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