business and entrepreneurship (Case Study Sample)
In the Harvard Business Review article “Competing on Analytics”, author Tom Davenport talks about a blend of (a) the right focus, (b) the right culture, (c) the right people and (d) the right technology for organizations to succeed in the use of analytics (data and model driven decision making) thereby generating value and gaining competitive advantage. In this question, comment on these aspects in relation to your own organization. In other words, does your organization have (a) the right focus, (b) the right culture, (c) the right people and (d) the right technology to pursue (or embark upon a path of) analytics? If yes, explain how. If no, which aspects are lacking and why?
Business and Entrepreneurship
Business and Entrepreneurship
Competition in business has become a major issue due to the increased number of new companies. Many new firms are investing in different sectors improving the products and services they provide using modern technology. Consequently, companies are forced to develop strategies to help them become more competitive and increase their market share. The article “Competing on Analytics” by Tom Davenport analyzes how companies can become more competitive and increase their output. Davenport focuses on the right focus, culture, people, and technology to help organizations generate value and gain a competitive advantage. Although various companies lack these aspects, my corporation has these aspects that have helped it increase its market share.
The Right Focus
The right focus is one aspect that Davenport analyzes in the article. Davenport (2006) argues that choosing where to direct resource-intensive efforts is vital for organizations as it helps them create a competitive advantage. In this case, managers and leaders in my organization have ensured that the major focus is on customer satisfaction. Resources used in the organization are largely directed to consumer satisfaction because it is one of the aspects that increase business competition. The most proficient analytics practitioners do not just measure their navels; they also help customers and vendors measure theirs (Davenport, 2006). Consequently, the company has involved customers in making decisions whereby the business uses their feedback to ensure the right focus is achieved.
The Right Culture
Culture is another important factor in every organization. In an analytics culture, the tension between innovative or entrepreneurial impulses and evidence requirements can be encountered (Davenport, 2006). Therefore, my organization has ensured that the right culture that encourages innovation and allows workers to be involved in decision-making is practiced. This approach has played a significant role since solutions to business challenges can be achieved easily. However, some decisions to change strategies in the company require leaders and managers to make their final decisions.
The Right People
Every organization aims at hiring the right people to increase performance. Moreover, all companies compete on talent because innovative workers can increase business sales by introducing unique services and products (Davenport, 2006). My organization has also focused on the right people, whereby the hiring process is fair, and only the qualified candidates are employed. The recruitment team ensures that candidates are interviewed to determine their abilities and how they can contribute to the growth and development of the organization.
Technology has become one of the largely considered aspects in every organization. Competing on analytics means competing on technology, and choosing the right technology increases the competitive ad
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