Essay Example on Grow Business with GYB & DYB: Augmenting Business Sustainability

Introduction

Grow Your Business technique (GYB) and Destroy Your Business Procedure (DYB) are among the most widely adopted competitive elements models. GYB and DYB are both social business operational procedures that ensure businesses and organization capacity is both beneficial and competitive against adversaries. Both element model gives companies a supportive hand which helps in augmenting the business maintainability. Whether GYB or DYB adoption, both elements play a critical role within a business. DYB and GYB provide ways that can help expand the aggressive edge offering a business help as well in shaping the opposition while defining fa business to keep development with e-commerce imbalance, which is continually evolving. The paper focuses on investigating the critical differences between the two competing models and the various identifiable similarities between GYB and DYB.

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DYB Techniques

Destroy your business, commonly referred to as DYB, is used together with GYB techniques and is considered the most used strategies in maintaining competitive value within a market. As the name suggests, DYB focuses on destroying the current business before the competitor executes the plan. The procedure involves restructuring the company to make it better. Markets realize the importance of adapting to the changing market trends by focusing on new means or exploiting every available opportunity before their competitor. DYB approach can help a business break-down current resources to come up with a better plan. GYB focuses on business growth by utilizing new methods or opportunities, which helps maintain a strong customer base and good company brand.

DYB can serve as a success device for managing the administration's upper hand in surveying their weaknesses and exploit them before the competitor executes their competitive plan. DYB model was developed and implemented by Jack Welch while working in General Electric Company (Pearlson, 2014). Jack Welch realized that if General Electron did not recognize their shortcomings, its rival could potentially outdo it by executing their opportunities.

Therefore, the DYB model can be used in driving business model development and advancement. By identifying business weaknesses, rivalry can be kept from abusing them, hence achieving notable business sector improvements. There is a significant difference between the DYB system and the GYB business model. However, they both participate in keeping the business high upper hand within the business sector.

Business Weaknesses

By discovering business weaknesses, a business can develop a plan of action to improve its operations. Consequently, companies can capitalize on existing programs while developing a strong client base. GYB concentrates on qualities while DYB focuses on business shortcomings. As observed in the global Electronics company in utilizing the two concepts explains how they can be combined to increase the company's productivity and how they are useful when incorporated in a business model.

Cannibalization system is a business technique that is being implemented in many businesses. It comprises of clearing new items that are currently available in the items being offered. A good example is the Apple iPhone. Apple iPhones are usually settled even when the other options are still available. This creative idea is that Apple customers keep purchasing a variety of the company's products. Hence, the term cannibalization as the new product will significantly reduce the available offers for the previous products.

In business, the term cannibalization actual meaning is “the negative effect of an organization’s new item on the business execution on its current related items’” (Investopedia.com). This methodology is, by so far, the best in the business innovation field. Items such as cell phones, tablets, portable PCs, and desktop PCS are always updated with innovation and mechanical advancements. Consequently, the business can produce new items in the event where the previous issues have become outdated rapidly.

Most organizations in the business sector have applied the cannibalization technique to remain at the top and have their item deals reduced on existing items as opposed to letting innovative advances in the field permit the business sector to make their items out of date. In circumstances where illustrations are being done by organizations that offer innovation items, the cannibalization technique is more successful than the DYB system.

Evaluation

However, not all items share the short time-frame of realistic usability as these items. For instance, in the industrial supply field, most things such as stepping stools, distinctive bolts, and nuts, lumber can be of great importance for a very long time (Cohn, 2015). Hence, those competing against you will always have the capacity to give the same items as you. Therefore, the best way to go about the rivalry is to utilize the DYB methodology.

By evaluating an organization's shortcomings, the performance is improved. It allows the organization to provide better services, more effective services, and permit your items to be promptly accessible to buyers. It is making this approach the ideal method for picking up a competitive edge against the opposition. If an organization was to discharge another stepping stool at regular intervals, it is far-fetched that the new item will bring about business sector cannibalization.

In today's lives, Information systems are a crucial part of an organization's operation. Information Systems have had a significant impact on business operations like when it comes to building an organization's profitability in the procedures and representatives. For instance, if there are changes in business methodology, one would imagine that it is just legitimate that the reassessment of Information Systems is incorporated into those progressions.

Information systems reassessment and execution of changes when need be are measures to be considered every time whether there have been changes. One essential aspect of Information systems is that it gives an organization an upper hand in the market place. For example, if you are surveying your business model and understand an opportunity in your appropriation and logistics, would it not be logical to investigate the current Information System and conceivable distinct options for measuring the upsides and downs? If a new framework has an initial cost and a circulation of about twenty percent, the overall impact will outweigh the disadvantages.

Consequently, it will be of great importance to various sectors of the business model. It will permit the organization to be profitable and create higher consumer loyalty by having the capacity to give items faster and more productive. The other illustration that would be rolled out is the payroll improvements in the offices. In the instance where one is investigating an Information System and get an option that would provide a more effective and timely payroll, you will reduce the overhead cost in that part.

By promoting a business's technique during a break-down and incorporating an Information system, there will be a fruitful path being discovered and actualized to mine information that will have more refined business procedures for Information Technology. If there has been a change, one must consider enhancing the Information System to improve the business model.

Social Information Technology

Social IT is one of the vast developing tools in business methodology. Most of the organizations are currently adopting approaches aimed at utilizing social IT. By opening access to social IT, firms can potentially open positive remarks which can help enhance marketing the company brand. However, a defined business procedure is followed when adopting a new set of tools in the business. Businesses must set objectives on social media use within the organization ((Cohn, 2015). Companies can aim at increasing the company's credibility or even growing traffic over the websites.

Consequently, organizations must choose the correct form and social media type to incorporate in their operations. Being proficient about the various social media platforms currently under existence, a business must ensure the only site with the highest exposure is chosen for social IT. Since social media is linked to a vast number of users worldwide, there is a high likelihood of providing exposure to an enormous amount of potential buyers. Through instant access to information on buyers' preferences and trends, a business can revise their marketing logistics to suit customers' needs. Therefore, by relying on social IT analytic information, companies can develop a plan of action to counter their rivals and stay ahead in the market.

Conclusion

Businesses should consider utilizing a mix of GYB and DYB in developing qualities and exploiting their shortcomings. By combining the models with the information, the system can allow the organizations to seize opportunities that can instead be used by the rivalries to compete with the company. Therefore, today's business sector must incorporate information systems in their logistics while breaking down their model in designing improvement techniques.

References

Pearlson, K. (2014). Managing and using information systems: A strategic approach. New York: J. Wiley & Sons. http://www.investopedia.com/terms/m/marketcannibilization.asp

Cohn, C. (2015). How to Properly Use Social Media to Fit Your Business Strategy. http://www.forbes.com/sites/chuckcohn/2015/01/23/how-to-properly-use-social-media-to-fit-your-business-strategy/#2715e4857a0b3778736d5474