Here, we look at how businesses can gain a broad perspective of organisational performance through real-time management systems.
A company's strategic plan forms the bedrock upon which its success is evaluated. Strategy is best defined as a plan to achieve long-term organisational goals. Without strategy, a company is like a rudderless ship floundering in the high seas. Over the years, management of company resources – land, labour, capital, and entrepreneurship – has been undertaken with systems that are largely inefficient by today’s standards. With the use of cloud-based technology and powerful online digital programs, it is now possible to efficiently allocate resources, monitor and track performance, set schedules, update data in real time, and ensure the effectiveness, efficiency, and accuracy of the entire management paradigm.