The firm's success depends not only on how well each department performs its work, but also on how well the various departmental activities are coordinated to conduct core business processes. List and briefly describe the five core business processes. Core business process: it is a process of linked activities or task. It is also a set of task which accomplishes organization goals. The process has well define input and output process. Business process needs a chronological order of action to achieve a certain objective. Core business process means the firm's success depends not only on how well each department performs its work, but also on how well the various departmental activities are coordinated to conduct core business processes. For the success of any firm only particular department performance is not enough. Each department does it task brilliantly but for the success of firm there should be co-ordination with all the department of the firm in the department of the firm in the core business process way. Everything should be sinking perfectly with each other so that there won’t be any obligation. If the activities are done with core business process, than it makes easy to reach the goals and eliminate the obstacle. If the companies maintain core process than it helps to manage all the networks to keep record of the products and its distribution. Five core business processes are: The market-sensing process: It is the process of developing knowledge about the market place that employee in the firm can use to guide while making decision. One need to systematize marketing efforts to make sure they are effective and that companies are getting a good return on investment. The market sensing process can be summarized as inquiry initiation, information acquisition, information distribution, interpretation, information usage, and evaluation of outcomes. It encompasses all activities in which an organization does to gather, disseminate and act on information. It is everything the organization can do to understand. and the supply-chain functions of the organization to achieve greater efficiencies and effectiveness in delivering customer value. distributors and customers. New offering realization is the process of developing new core products or services. The customer relationship management process: It is the process of managing relation between both present and future costumer. Customer acquisition also includes the process of converting existing prospects into new customers.The new-offering realization process: It is one of the components of core business process. It covers all the work in research and all other development work like launching new product. The customer acquisition process: It is the process of obtaining new costumer for the business. sales. In conclusion to be successful. The firm needs to look at the competitiveness value chain of suppliers. a firm needs to look for competitive advantages beyond its own operations. and bringing them to market. customer service. This process is concern with new costumer but with minimum cost. The fulfilment management process: It is the process of doing the entire task in time and shipping order out and also collecting money in time. All these activities are done within the budget. The integration of marketing. foster an association and offering to their customers. Many companies today have partnered with specific . augmenting them to construct market offerings. suppliers and distributors to create a superior value delivery network. risks.to long-term strategic planning. Scenario analysis has been used by the private sector for the last 25 years to manage risk and develop robust strategic plans in the face of an uncertain future. . In the developing world. state transportation investments. By using five steps of core business process it makes easy to get success to any firm. References: Kotler and Keller(2009). Scenarios have helped public sector agencies plan for population growth and regional development. Marketing management. and trade-offs in national policy debates. scenarios have been used to highlight the opportunities. Its success in helping firms manage large capital investments and change corporate strategy has made it a standard tool of medium.Pearson Prentice Hall 13th edition. Describe what happens in scenario analysis and explain why firms such as Royal Dutch/Shell Group use the technique. (Kotler 2009). and the distribution of landfills. They should be prioritized by the scenario team according to their level of predictability and importance in affecting the desired outcome. 1. Without this grounding. During the exercise itself. address key uncertainties. economic. Write scenario plots. it is important that both of these elements receive equal attention and that mutually acceptable triggers and measures of success be agreed as outcomes of the process. 3. 2. . environmental. there is a danger that they will be too general. such as the likely outcome of a national election leading to a transfer of power or a currency devaluation. Scenarios are best suited to looking at the future through the lens of a specific issue. and more effectively share their thinking with stakeholders about a lending program and the country’s future. Identify driving forces. but it needs to be adapted and piloted before it can be more widely used in the Bank. Scenario analysis involves constructing or developing scenarios (steps 1-4 below). This chapter describes a scenario process designed to be the cornerstone of a strategic plan. It also suggests ways to use the key concepts of scenario thinking in shorter exercises designed to help decision-makers minimize risk. Define a focal issue or decision.Scenario analysis is a tool with a strong track record and significant potential. These are the social. political. These are the stories that explain how driving forces interact and what effects they have on the operation or strategic direction being discussed. and integrating the content of scenarios into decision making (steps 5-8 below). and technological factors that are most relevant to the focal issue. easy-to-read language and disseminated within implementing organizations and to the public. they should be written in succinct. . Scenarios in Practice The two primary situations in which scenario analysis has been used by the public and private sectors are: 1. 8. Choose “leading indicators. Good scenarios combine a solid understanding of relevant present trends with a clear focus on the outcomes sought by decision makers. Integrate scenario outcomes in daily procedures.” These indicators should help decision makers monitor changes in the external environment as well as developments in the project. Look at implications. Use or modify existing systems to monitor progress toward operational goals as well as changes in the external environment. Once scenarios have been built and refined. 5. They should incorporate lessons revealed by analysis of quantitative and qualitative data relevant to the assumptions underlying each scenario.4. Disseminate scenarios. After scenarios have been fully developed. 7. When considering a significant capital investment decision or sectoral strategy 2. When developing or reformulating national or corporate strategy. Change the incentive system in affected agencies and areas to ensure concerted movement toward the strategic goals that have been formed on the basis of the scenarios. 6. Flesh out scenarios. decision makers should study their implications for the outcomes being sought by the operation. geopolitics. they use this technique to explore the future and what lies ahead particularly in the oil industry. the types of energy to be used in the future and the development of greenhouse gas emissions. The scenario team of this company considers changes as in the global economic environment. Marketing management. resource stresses such as water. These scenarios also could highlight concerns of public policies on the development of cleaner fuels. In conclusions Scenario analysis focuses on estimating what a portfolio's value would decrease to if an unfavorable event it means future than the forecasting technique so that.Pearson Prentice Hall 13th edition. greenhouse gases and energy supply and demand in order to assist company business leaders and managers to do better decision makings. They also dwell into the implications of global economic growth. Royal Dutch/ shell believes on the scenario techniques. References: Kotler and Keller(2009).For companies such as Royal Dutch/Shell Group. improvements in energy efficiency and on moderating the greenhouse gas emissions. .