Identifying Business Needs And Opportunities

help the organization performs

Business needs pertain mainly to the requirements of an individual or private organization in order for it to perform efficiently. These needs may pertain to anything that will help the organization performs its functions better and at the same time make things easier for everyone involved in the organization. Such necessities include:

The process of identifying business needs is quite simple. There are basically four factors which are taken into consideration when coming up with business goals. The first of these factors is the purpose for which the organization is set up. The other three factors are marketing, operations, and finance. Knowing what these factors are and knowing their definitions will be helpful in coming up with a concrete definition for the purpose for which the organization is set up.

stakeholders in the organization

Once the purpose has been identified, you have to identify the stakeholders in the organization. Stakeholders, in business needs and development terms, are those individuals, groups, or companies that have an effect on the overall performance of the company. In most cases, these people or groups are your employees. However, it also includes customers and suppliers. There may also be other external stakeholders, depending on how large the organization is. Aside from the employees, the other major stakeholders are the suppliers and customers.

Next, the process of business needs and development should be carried out according to business objectives. Business objectives are the goals that the organization is trying to achieve. They may be long-term ones or short-term ones. Most of the time, the longer the period of time for the objectives, the more effort will be required in coming up with concrete plans on how to achieve these objectives. For instance, if the objective is building a new facility, then this will entail long-term planning, including building a budget and determining the manpower needed, researching on the best materials and technology, determining the procedures to be carried out when constructing the building, hiring the services of contractors, and creating a timetable for completion.

important part of business needs

Lastly, the development of business rules is also an important part of business needs and development. Business rules may be formal or informal, but they serve the same purpose -to define the actions that have to be carried out in order to meet the goals of the organization. Sometimes, these business rules are used to restrict the activities of the stakeholders, for instance, they may insist on meeting the workforce requirements before doing any renovations or expansions. The goals may also be set for certain activities, like expansion of the production facilities so that more items can be manufactured, or the introduction of a new product line.

Other techniques used in identifying business needs and identifying opportunities are the use of surveys, interviews, case studies, focus groups, and simulations. These techniques vary in complexity depending on the nature of the organization, the number of stakeholders involved, and the level of interaction between them. Simulations allow for a more complex scenario to be explored and allow for a collaborative effort among all the stakeholders. Survey techniques are often used in smaller organizations where it may be difficult to get the information needed quickly. For large organizations, conducting a survey can be a challenging task, since the resources required in conducting a survey can cost a lot.

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