A significant amount of effort is often devoted to placing a project for supply of services and products. However, once the deal has been awarded, little or no effort is made to manage them until problems occur which require immediate intervention.
Lack of effective management of business can constitute to a drag in the attainment of the overall of the deal. business management otherwise known as business administration is made with customers, vendors, partners, or employees. It includes negotiating the terms and conditions in business and ensuring compliance with the terms and conditions, as well as documenting and agreeing any changes that may arise during its implementation or execution.
It can be summarized as the process of systematically and efficiently managing business creation, execution, and analysis for the purpose of maximizing financial and operational performance and minimizing risk.
Common commercial projects include employment letters, sales invoices, purchase orders, and utility. Complex business are often necessary for construction projects, goods or services that are highly regulated, goods or services with detailed technical specifications, intellectual property agreements, and international trade.
The sheer complexity and volume of corporate business have increased dramatically in recent years due to rising globalization, outsourcing, and regulatory requirements. This, inevitably, has given rise to need for proper management. Managing a business involves tasks that take the plan from creation to the end of the complete life cycle. The various tasks involved in managing a project are performed by different roles.
Before creating a new project for a buyer organization, the buyer organization must have a business account with your store.
The following steps are involved in managing a project using the Business Relationship Management tools available in the websphere commerce Accelerator: An account representative assigned to work with the buyer organization creates a new plan. When it is submitted, an e-mail notice is sent to the sales manager.
The sales manager checks the list of approval requests awaiting approval and approves or rejects them. if desired, the sales manager can add comments. If the project is rejected, the account representative can do one of the following: change them and resubmit them for approval or cancel them.
Finally, if they are approved, the project automatically deployed. The terms and conditions in the deployed take effect on the start date of the project if deployment fails, the sales manager or account representative can redeploy the project. There is no specific order to the tasks required.