What is a Business Methodology?
An Introduction to Business Methodology
Simply put, a business methodology is a set of guiding principles which an individual or company uses in order to be increasingly successful in business.
While a business ‘process’ is concerned with the mechanics of a business, i.e. a sequence of stages and associated activities, a ‘methodology’ is more aligned with the techniques, disciplines and best practices used to progress from stage to stage.
No one methodology fits all. A business methodology can be selected based on the type of industry in which a company operates or selected to align with it’s customers, its overall strategy or other influencing factors.
Running a business could be described as a blend of natural acumen and science. Methodology aims to provide the science. It teaches a myriad of techniques, e.g. styles of leadership, how to use techniques to identify gaps in the markets, how to create compelling demand for products or services and so the list goes on.
The art, however, comes from business professionals themselves. They make business methodology their own in order to fit their own context and parameters.
As customers become more informed and solutions more complex, methods of being in business will continue to help businesses become trusted, go-to brands on whom people can rely.