business strategy Archives - Web Updates Daily Get All The Latest Updates Of Technology & Business Tue, 14 Jun 2022 06:14:25 +0000 en-US hourly 1 https://wordpress.org/?v=6.1.4 https://www.webupdatesdaily.com/wp-content/uploads/2019/12/WebUpdatesdaily-150x150.png business strategy Archives - Web Updates Daily 32 32 The Scrum Master Deciphering A Key Role For Business Agility https://www.webupdatesdaily.com/the-scrum-master-deciphering-a-key-role-for-business-agility/ https://www.webupdatesdaily.com/the-scrum-master-deciphering-a-key-role-for-business-agility/#respond Tue, 14 Jun 2022 06:10:27 +0000 https://www.webupdatesdaily.com/?p=5993 First discussed in the 1980s, the theory behind the Scrum method states that projects are

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First discussed in the 1980s, the theory behind the Scrum method states that projects are most efficiently completed when they employ small, self-organizing teams. Formulated by two Japanese researchers and then developed by American engineers, the Scrum approach advocates autonomous work, iterations and the definition of common objectives for team members. Therefore, the Scrum method works by blocks of development carried out collectively, each phase based on the lessons of the previous one. The exchange of information occurs during frequent and dynamic meetings called daily scrums or stand-up meetings. 

The objective of the iterations and these regular meetings:

  • Constantly Refocus The Project Toward Its Objective
  • Update the need in near real-time, based on markets, project obstacles and customer requirements
  • Involve the client regularly to avoid moving towards a project that does not meet expectations

Finally, the Scrum method is based on a set of principles and concepts:

What Is The Role Of The Scrum Master?

The Scrum Master is directly responsible for the correct application of the method. Rather than participating in the product development itself, this key player guarantees the team dynamics, which are crucial for the project’s success.

The three objectives of the Scrum Master are:

1. The Organization And Animation Of The Stages Of The Project

  • Sprint planning: the functionalities produced during the sprint are presented there. The Scrum Master supports developers in estimating work time and prioritization.
  • Sprint: the development phase (the development phases),
  • Daily scrums: this meeting in a concise format (15 minutes) is led by the Scrum Master, who enforces the terms
  • Sprint review: the retrospective of the past sprint is essential for the teams and the client. The Scrum Master analyzes with the group the work carried out and the improvements to be made.

2. Accompaniment During These Phases

At each stage, the Scrum Master accompanies and supports the team. It promotes collective and individual involvement and protects employees from parasitic external elements.

3. Applying The Method Daily And Highlighting Good Practices

The Scrum Master guarantees the application of Scrum practices. He must ensure that the process is well understood and its tools fully used. The mission of the Scrum Master is, above all, organizational and pedagogical. His in-depth knowledge of the method and his ability to apply it in harmony with his company’s culture are the keys to successful adoption.

His communication skills are essential, as well as his ability to create a team spirit and a profoundly collaborative work. However, far from the disorganized image that one can have of the Agile method, the application of Scrum also implies rigor: the Scrum Master must be vigilant in applying the essential points and know how to question the practices of his team.

The Scrum Master And The Agile Organization

The Scrum Master is one of the three essential elements of the method. With him, the Product Owner and the development team guarantee the product-need adequacy and the active part of the product creation. The Scrum Master is in constant contact with these stakeholders, to whom he brings a structured Agile framework.

With The Product Owner

The Scrum Master works on setting goals and prioritizing tasks. His broad vision and the succession of iterations allow him to anticipate any problems. In daily contact with development teams, he understands operational needs and supports the Product Owner in defining a clear backlog.

With The Development Team

The Scrum Master works alongside developers to quickly overcome obstacles throughout the project. He provides his vision and advice to eliminate everyday technical and organizational problems effectively. He is mainly involved in motivating and supporting employees during each sprint. The Scrum Master, therefore, strengthens the link between the Product Owner and the development team.

He participates in a clear definition of the need and the roles and in carrying out the tasks as smoothly as possible. Its role during the sprint retrospective is essential: it makes it possible to implement the right actions to improve future sprints. Finally, the Scrum Master brings his vision for a compelling presentation of each new increment – the part of the project carried out during the past sprint – to the client.

The Scrum Master Is Facing Organizations That Are Still Reluctant

This role of facilitator faces several obstacles. For companies, the Agile method is indeed difficult to fully implement. Often wanting to reconcile the rigor of a fixed specification and the client’s involvement, French firms rarely include Scrum in their DNA.

The Scrum Master is often faced with problems such as:

  • The corporate culture: the Scrum method is too often limited to small teams, even though it should be integrated into the corporate culture. This results in internal gaps in processes and vision, and the Scrum method does not deliver all the expected potential.
  • Excessive documentation and planning: the Scrum method prefers constant adaptation to action plans frozen in time. Documentation is sometimes necessary but must remain limited to allow action and adjustments. Traditional practices or the vital need for contractualization often hinder teams from using Scrum.
  • Fear of change and distorted vision of Scrum: the transition to an Agile organization continues to worry some companies accustomed to the sequential method. However, far from being a vector of chaos, the Scrum method is governed by rigor and organization. Although the Scrum Master personifies these values, he sometimes struggles to have them accepted by all employees.

These pitfalls are sometimes a source of failure for a method that has already proven its effectiveness. Faced with reluctance and fears, the Scrum Master also plays the role of ambassador of the technique. Its action is invaluable for adopting agility throughout the organization, helping it use data to serve processes, thus improving performance in the long term.

Also Read: Applying Agile Practices Can Make Workers More Productive

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4 Ways To Structure Your Business https://www.webupdatesdaily.com/4-ways-to-structure-your-business/ https://www.webupdatesdaily.com/4-ways-to-structure-your-business/#respond Wed, 02 Mar 2022 07:25:20 +0000 https://www.webupdatesdaily.com/?p=5572 There are quite a few things you have to consider as you’re getting your business

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There are quite a few things you have to consider as you’re getting your business going. Activities such as staffing up, onboarding, and building a website all add up to a significant undertaking. And as per our piece “How Can Accounting Help You in Growing Your Business?”, you’ll need to figure out a strong accounting approach as well. Simply put, there’s a lot to take care of from the outset.

In a broader sense though, you also have to figure out if you’re going to formalize your business, and if so, what structure you should embrace. This part of the process isn’t necessarily as urgent as some of the ones listed above, but it is crucial to making your company sustainable for the long haul. So let’s take a look at some different options that may work for your business.

Sole Proprietorship

In this business structure, the owner of the company has full ownership of the business. No partners or other stakeholders are involved. In this case, the owner must keep the books, and pay self-employment taxes. There are federal taxes which are the same across the country, and state taxes which… you guessed it… are different in each state. The advantages of this type of business structure, ultimately, are that there are fewer startup requirements, and the business isn’t subject to public disclosure –– which means more privacy for you. Because of these benefits, The Balance reported in 2021 that some 73% of all U.S. businesses are sole proprietorships.

Partnership

A partnership is a business structure in which two or more people own and operate the business together, and therefore share the net gains and losses –– usually equally. It’s an appealing, fairly simple setup to many, though there are some important things to keep in mind. As Stacey Abrams and Lara Hodgson explained in a piece at Harvard Business Review, it’s important for partners to trust and respect one another, and to have rules in place in case things go south. This way, each person is protected from any type of mistake betrayal that may arise.

Limited Liability Company (LLC)

LLCs are businesses that usually have more than one owner, which isn’t the case for partnerships or sole proprietorships. Specifically, AskMoney explains that these businesses are structured through Articles of Organization, which separate the business’s legal name and residence from the managers of the company. The articles also include operating agreements, which establish rules for what happens if a member of the LLC leaves the business or passes away. This type of business is more expensive than a sole proprietorship to set up, but does more to fortify the company for the future. It also carries the key benefit of ensuring that owners are not personally liable for business matters.

Corporation

There are two main types of corporations: S corporations and C corporations. They vary significantly when it comes to taxation, so it’s best to find out what type of corporation you’d like to have based on the IRS’s taxes and compliance requirements. One of the main differences though, when your business gets to this point, is that C corporations do not have a limit to the number of shareholders they can have, whereas S corporations are limited to 100 shareholders.

Starting up and running a business is ambitious, so it’s best to be sure of what you’d like to do right out of the gate. Have a plan ready, and include what type of business structure you’d like to have in that plan.

Also Read: Twitter Adds Automatic Captioning To It’s Videos

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Social Listening What It Is And How You Can Apply It To Your Business https://www.webupdatesdaily.com/social-listening-what-it-is-and-how-you-can-apply-it-to-your-business/ https://www.webupdatesdaily.com/social-listening-what-it-is-and-how-you-can-apply-it-to-your-business/#respond Sun, 16 Jan 2022 05:58:26 +0000 https://www.webupdatesdaily.com/?p=5288 Social Listening is an increasingly important strategy in monitoring the company’s image and improving its

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Social Listening is an increasingly important strategy in monitoring the company’s image and improving its online reputation. If communication between brands and customers is today more horizontal than ever, detecting user attitudes towards a business on social media can make a difference in any company’s strategy. Social Listening seeks to detect these attitudes and provide information to improve the digital reputation of a company. We will tell you how.

What Is Social Listening

Social Listening is the monitoring of social networks in search of comments, mentions, and other types of messages that allow us to determine the opinion of customers about a brand.  It is thus about obtaining information about what the users of a business think to later analyze this data and act accordingly.

Although it resembles a certain extent the practices of Social Monitoring, Social Listening provides a broader point of view in which not only a specific marketing campaign is taken into account, but also, among others:

  • Mentions about a brand.
  • Collection of testimonials and customer feedback.
  • Trends about the industry to which the brand belongs.

In addition, Social Listening incorporates, as we have already said, analysis tools to conclude the data to improve the company’s reputation. In short, Social Listening is understood as a long-term strategy and goes beyond specific campaigns.

How Does Social Listening Work And What Is It For

Social Listening can be implemented in two steps:

2.1. Network Monitoring

First of all, it is necessary to monitor the social networks in which a company is present and even those in which it is not. You should look for elements related to the brand (the name itself and keywords about its products, for example), to the sector or the competition, in the form of mentions, hashtags, comments, messages.

This step can be carried out manually or through tools such as Sprout Social, depending on the exhaustiveness and volume of data that you want to achieve. The objective is to understand what is being said about the business and what is the attitude of users towards the company (the so-called “social media sentiment”).

2.2. Analysis Of The Information

As a second step, it will be crucial to analyze the information obtained so that the company can take concrete measures to improve its reputation in networks. Through Social Listening, it is possible to obtain information for:

  • Provide a better user experience in areas such as customer service through social networks (replying to their messages, mentions, comments.).
  • Get ideas about business opportunities or optimize the products or services of a company, according to what users are demanding on networks.
  • Improve the content on social networks, following the expectations of followers and customers.

Benefits Of Applying It To Your Business

  • Improvement of the company image and relationship with customers: today, users expect close and immediate communication with brands through social channels. What’s more, 46% of consumers believe that the right interactions with users make a difference to a company’s reputation, according to Sprout Social.
  • Discover new opportunities: Social Listening is a powerful tool to discover what exactly users demand from a business. What’s more, according to the same Sprout Social report cited above, 90% of marketers say this type of data is what allows them to differentiate themselves in the marketplace.  
  • Detecting through Social Listening that many users complain about the same problem or demand the same type of solution is to discover an opportunity for improvement for a business. Then, you just need to take the steps to get it up and running.
  • Perfect crisis management (and anticipate them): in the age of social networks, brands must listen to what users say about them, also when they criticize them, and especially during reputation crises. With the right Social Listening tools, brands can quickly detect when there is a reputation problem and put measures in place to tackle it.

Social Listening is, in short, a crucial part of managing a company’s online reputation, which complements others such as obtaining positive reviews on Google

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What Is Automated Marketing? https://www.webupdatesdaily.com/what-is-automated-marketing/ https://www.webupdatesdaily.com/what-is-automated-marketing/#respond Mon, 29 Nov 2021 07:23:14 +0000 https://www.webupdatesdaily.com/?p=5075 Marketing is undergoing a revolution thanks to the expansion of the Internet. The amount and

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Marketing is undergoing a revolution thanks to the expansion of the Internet. The amount and ease of access to information have fundamentally changed how companies collect data from their customers and create their databases. From slow and tedious systems, which sometimes require even the individual’s response by letter, we have moved on to very agile mechanisms in which, with minimal effort, you can know everything you need. This article will introduce you to automated marketing and sales funnels to make your business strategy more effective.

What Is Automated Marketing?

As a consequence of this situation, the need arises to create a system that makes these databases manageable. Through different types of programs, they are in charge of creating a system that facilitates the collection of user information ( lead scoring ) and planning actions and communications that maintain the users’ interest. Leads in your business ( lead nurturing ).

These automation systems will be in charge, for example, of sending generic communications with the news of your company and taking concrete actions through the use of dynamic lists. As a result, not only will you be able to reach users more efficiently, you will also do it more often and better with less effort. All the actions that this discipline allows you would need days or weeks if they were managed manually. Still, thanks to automation, they only require you to study the data and create a strategic plan adapted to your objectives.

What Are Sales Funnels?

One of the ways automated marketing works is by minimizing the loss of contacts in sales funnels. As users progress through the purchase process on your website, many of them fall by the wayside, and only a few reach the final conversion. First, they will have to find what they are looking for, take it to the cart, accept it, enter all the data and pay.

By creating conversion funnels or sales funnels, you will have an intelligent system to minimize the people who leave your website without entering any product, those who enter but do not put it in the cart, or those who go before making the payment. By analyzing this information, you will create improvements and take specific actions in each phase of the process.

How Do You Create A Conversion Funnel That Works

As you have already deduced from the previous explanation, sales funnels work differently than a typical funnel. If, with the latter, the liquids that pass through it are never lost on your website, you will have a big difference between the traffic that arrives and the conversion. Not everyone who passes through your website will have bought. However, the objective will be to increase the number of people who go from one phase to another. To do this, work is done on at least four levels.

1- Information

The first thing you want to know is where your visitors come from and how they know your brand or product. If you have done advertising campaigns online, on social networks, AdSense or Google Ads, you will be able to check where your users come from and what has aroused their interest. It will also give you a good idea of ​​which search terms drive the most traffic to your site.

2- Attraction

The next step is to get the attention of the visitors and that they stay. You can do this by creating an attractive visual environment, an easy-to-navigate website with well-organized information, etc. The bounce rate will allow you to know and test what works and what doesn’t. However, if you want to measure interest in another way, you can do like the rest of the online stores and invite interaction with a  call to action. For example, it asks you to subscribe to the newsletter in exchange for a discount.

3- Create A Desire

In this phase, the client already knows you and has a potential interest in keeping up to date with your brand news. Now you are going to need to create the desire for your products. To achieve this, the lead nurturing strategies that we talked about at the beginning come into play. Thee – mailings of newsletters are very common. Still, you can also use other customer information (such as your browsing history) and directly offer products of your interest, or you have seen in recent days.

4- Conversion

This is the last level of the sales funnel and the part of the process that the fewest users reach. You can take concrete actions to increase sales, but it is also an essential step because it will give you precious information about who buys from you and how they have reacted to the actions. On the other hand, the funnel will not stop there, but you should repeat the previous steps to retain users.

Types Of Funnels And How To Automate Them

Now that you have a general understanding of how they work, it’s time to dig a little deeper and see exactly how to adapt them to your strategy. Some of the most common are to capture qualified leads. They are popular in the service sector and, through organic traffic actions, direct customers to a  landing page. In it, there will be a prominent ad with a  lead magnet that can be accessed to a class of the course offered or an ebook.

Also Read: Strong Authentication Is Considered As Essential Guardian Of Data

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