'Recession has caused Corporates,IT majors rethink biz models' | business | Hindustan Times
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'Recession has caused Corporates,IT majors rethink biz models'

business Updated: Sep 18, 2009 15:48 IST

The economic recession has led corporates and IT majors rethink and redesign business models for further improvement in terms of impact on organisational performance a survey by auditing firm KPMG has said.

The report titled Business Excellence through Process Maturity was aimed at understanding how process maturity enables business excellence in knowledge-based organisations and derives insights that helps organisations excel.

The findings show that over 90 per cent executives feel that aligning process models and standards have improved their individual roles and perspectives of business processes, while over 80 per cent feel that the same has improved team and organizational performance.

It said some key focus areas that the industry may consider include viewing operational and strategic practices from the customer's point of view and understanding customer needs better to translate them in operational processes and practices.

Others include choosing the right process models to derive business benefits and understanding the 'pain areas' better to adapt to pertinent models and standards, the survey said.