NEW BUSINESS VENTURE, RUNNING WITH EXISTING PORTFOLIOS
NEW BUSINESS VENTURE, RUNNING WITH EXISTING PORTFOLIOS

Getting a new business venture while adding on to your existing portfolio can be a huge challenge. Hence, the role of leadership is very useful. With the other departments, its a merged role with others. Conclusively, the role is highly manipulative and critical in terms of merging the operations. Furthermore, playing a catalyst role in future business developments.

Having a right direction of the project and merging it with the company’s existing operations. Since, it was launched this has been a part of the MBE’s culture. It has been one of MBE’s secrets of success. Furthermore, also effective in terms of finding out the right road-map. More importantly, for a business venture success in future.

What’s more important is that the business venture that has been launched should have higher success capabilities for future. There should be a planned ROI, i.e. Return on Investment set in advance, along with the payback period. Both of these are fruitful calculations in determining the success of the new venture along with other businesses already operational. As an entrepreneur it’s your role to train people to merge with your ideas & vision for success. The ideas of exemplary leadership regards to the business venture success should be transferred in the minds of existing staff, co-workers & other stakeholders. It is indeed an added advantage for the existing business portfolio. Something, that will be a huge sustainable advantage in the longer run for the growth of the company & its vision.

UNDERSTANDING THE VISION FOR THE COMPANY:

How it helps and determines the vision for the company or a conglomerate is interesting to know. Every business venture is an added advantage for the company’s vision. In the current portfolio’s existing businesses, its a vision that is clearly visible. Hence, the vision stays the same. However, what changes is the magnitude of the company, w.r.t the operations, size, and employees. Apart from this the company’s potential to hire more employees in future. This is all part of the change management processes and procedures in place.

TRAINING & DEVELOPMENT PROGRAMS:

The training & development programs are part of the development strategies that are commonly implemented at the start of a business venture. Whether it’s a JV, i.e. joint Venture, or a BV, Business Venture. Any business setup that is been as part of the added operations. Particularly, true in the existing businesses. Training & development programs for new staff members and the existing staffs. Both ensures measures that are being taken for a business venture.

‘THE SECRET OF SUCCESS FOR MBE’:

The secret of success for MBE in the past has been to develop a strategy. On top of this, a road-map for a new venture that helps in running the show. Similar is the case for M-rides, just as we step into the commuting business. Hence, we have developed a comprehensive road-map that is highly detrimental in defining a strategy for future. Apart from making a road-map, what’s necessary is how the various businesses will merge with current businesses. An example is M-rides merging with the Digital marketing department in making profitable marketing campaigns. Strategically, on social media and other sources on World Wide Web. Other departments that are being merged along with M-Rides includes IT & Operations as both have a huge role in M-Rides. Hence, the role of the departments is highly influencing in this regards. Apart from this, the directions need to be made sure.

Found to be a comprehensive one in the past is the strategy. This is apart from being the culture of MBE. Launched in Ontario, Canada in the year 1996 as a company. Furthermore, now we are operating with 17 different group of companies. Importantly, all under the banner of MBE Enterprises. As an enterprise the biggest challenge has been the launching of M-Rides. Particularly, as we have stepped for the first time in the commuting business.

CHANGE MANAGEMENT PRACTICES IN PLACE:

In theory there have been change management practices in place. Which means ‘expansion strategy’ as part of the growing business strategy. The expansion strategy involves increase of manpower, i.e. more hiring procedures. Associated with the expansion strategies are directly increasing factors linked with company’s growth & their vision.

According to the theory of change management, the change should proceed from higher management hierarchies to the lower management. Therefore, the higher management should take immediate action regards to the change followed by lower management. These changes includes adaption to change strategies. Also includes, decision making procedures and policies and finally the implementation phase. The implementation phase in the change management process holds most priorities in terms of the key operational practices.