Most businesses are facing a more demanding business environment that includes:
- Increasing customer expectations for improved quality and faster delivery.
- Stronger competitors.
- More complex products and services.
One consequence of this business environment is shortening product cycles. In this environment, CIOs can champion enhanced simulations to reduce risk and advance the business plan.
“We believe sophisticated simulations are essential to ensure that companies achieve rapid, quality product development,” says Keey Ryong Song, chief operating officer (COO) at MORAI, a South Korean technology company that develops simulation platforms for many industries and applications. “We’ve seen companies flounder due to poor software
Whether you are launching a new business, five years in, or beginning to plan for the transition of ownership to the next generation, taking the time to write a proper business plan is certainly a worthwhile feat. This valuable document can help align the expectations of all owners/managers, while also serving as a blueprint for how to run the business and set the pace to achieve its goals.
