Found for a comprehensive one previously is your strategy. This is apart from being the civilization of MBE. Furthermore, now we are operating with 17 distinct groups of organizations. Notably, all under the banner of MBE Enterprises. As a venture, the biggest challenge has been the launching of M-Rides. Particularly, as we have stepped for the first time in the commuting business.
The secret of achievement for MBE previously is to develop a plan. Similar is true for M-rides, as we step into the commuting industry. Hence, we have developed a thorough roadmap that's highly detrimental in defining a strategy for the future. Aside from making a roadmap, what is needed is the way the several companies will combine with current companies. A good illustration is M-rides merging using the Digital marketing department in creating profitable advertising campaigns.
Strategically, on social networking and other resources on World Wide Web. Other departments that are being merged alongside M-Rides comprise IT & Operations as equally have a huge role in M-Rides. Hence, the part of these departments is tremendously influencing in this regard. Aside from this, the directions need to be made sure.
According to the theory of change direction, the change should proceed from higher administration hierarchies to lower management. As a result, the greater management should take immediate actions regards to this change followed by lower management. These modifications include adaption to modify strategies. Also includes decision-making procedures and policies and ultimately the implementation stage.
UNDERSTANDING THE VISION FOR THE COMPANY:
In theory, there were changing management practices in place. Which means 'expansion strategy' as a portion of the growing business plan. The expansion strategy involves the increase in manpower, i.e. more hiring procedures. Associated with the expansion strategies are directly increasing variables linked with the organization's growth and its own vision.The way that it assists and decides the vision for your own organization or a conglomerate is interesting to know. Every business venture is an extra benefit for the company's vision. From the present portfolio's existing businesses, it is a vision that is clearly visible. Hence, the vision stays the same. However, what changes is the size of the company, w.r.t the operations, size, and workers? Besides this the organization's capacity to engage more employees in future. This is all part of the change management processes and procedures in place.
CHANGE MANAGEMENT PRACTICES IN PLACE:
Getting a new business venture while adding on to your current portfolio can be a huge challenge. Therefore, the use of leadership is very helpful. With the other departments, it's a merged role with other individuals. Conclusively, the function is highly manipulative and crucial in terms of merging the operations.TRAINING & DEVELOPMENT PROGRAMS:
Having the right management of the project and combining it with the organization's existing operations. Since it was established this was a part of this MBE's culture. It's been among MBE's secrets of success. Furthermore, also powerful concerning finding out the right road-map. More importantly, for a company venture success in future.The development & training programs are part of the development strategies which are generally implemented at the onset of a business venture. When It's a JV, i.e. joint Venture, or even a BV, Company Venture. Any business setup that is been a part of the added operations. Especially, true in the existing businesses. Training & development applications for new staff members and the existing staff. Both guarantee measures which are being taken for a business enterprise.
What's important is that the business venture that has been launched ought to have greater success capacities for the future. There ought to be a planned ROI, i.e. Return on Investment put beforehand, together with the payback period. Both of these are fruitful calculations in determining the success of the new venture alongside other businesses already operational.
As an entrepreneur, it's your role to train people to merge with your ideas & vision for success. The notions of exemplary leadership pertain to this company enterprise achievement should be transferred in the minds of existing employees, co-workers and also other stakeholders. It's indeed an added benefit for the existing business portfolio. Something, that will be an enormous sustainable advantage in the long run for the growth of the business and its own eyesight.