BizBigPic... A way of thinking. A place. A community, built around your need to succeed in business, part of the broader quest for a successful existence, begins its journey here with the introduction of a fundamental theory of business.
BizBigPic was founded by Cristian Mitreanu of RedefiningStrategy.com in August 2006 (see the two press releases below). (Special thanks to Carrie E. Crawford, who has and continues to provide valuable support for these initiatives. Thanks, Carrie!)
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Press Release
A FUNDAMENTAL THEORY OF BUSINESS HAS BEEN DEVELOPED AT LAST
CHICAGO--August 31, 2006--For the first time in business history, a fundamental theory of business has been developed. Introduced under the initiative BizBigPic, the theory provides a comprehensive and dynamic picture of what happens in business at the fundamental level.
Although business has been studied for over a hundred years, the field has lacked its most important element, a fundamental theory. As a result, in order to deal with the business big picture, practitioners and academics alike have been using a collection of disparate concepts, commonly dubbed as "business fundamentals," without the support of a unifying platform.
Anchored in the customer's problem solving behavior, a fixed reference system in the dynamic business environment, the theory introduced by BizBigPic solves this problem. It provides a unique framework capable of describing in a wide variety of terms (financial: average margins, sales: sales cycle length, organization: vertical integration, etc.) the variation of an organization's business conditions under the influence of the two fundamental forces, commoditization and innovation.
"An organization is fundamentally healthy when the intended business approach and the approach resulting from daily operations are aligned relative to the customer's problem solving behavior," says Cristian Mitreanu, who developed the theory. "However, this is a highly unstable state of affairs due to the powerful effect of commoditization. Therefore, in order to sustain a healthy foundation, organizations must constantly innovate and adjust their portfolio of offerings and markets. In some cases, they might even have to change their intended business approach."
Another first is represented by the universal formula for success included in the theory. A notion traditionally belonging to the domain of corporate strategy, this formula represents a breakthrough. Its relativity to the customer's problem solving behavior has facilitated for the first time in business history the unification of the rational view ("strategy is planned and implemented top-down") with the adaptive view ("strategy emerges bottom-up from daily operations"), an unresolved issue that has rendered the discipline of corporate strategy almost irrelevant over the years.
Rather than using a book as the main tool for idea dissemination, BizBigPic takes a novel alternative route by using a web-based solution, where the theory is introduced in 10 chapters (steps). However, unlike the narrated chapters of a book, these chapters consist only of a principle and a chart, inviting readers to flesh out their own stories. To complement their own business experiences and knowledge, and therefore making the most of the BizBigPic experience, readers are encouraged to engage in the discussions supported by the web-based solution (www.bizbigpic.com).
About BizBigPic
BizBigPic is intended to help individuals, entrepreneurs and employees, achieve enduring success in business, part of their broader quest for a successful existence. BizBigPic is a way of thinking, a place, and a community. Its initial stage of development is driven by the introduction of a fundamental theory of business, which provides individuals with a comprehensive and dynamic big picture of the business environment. Cristian Mitreanu, who previously founded the research initiative RedefiningStrategy.com, founded BizBigPic in August 2006. Visit BizBigPic at www.bizbigpic.com.
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Press Release
BIZBIGPIC SET TO EMPOWER INDIVIDUALS IN THEIR QUEST FOR SUCCESS IN BUSINESS
CHICAGO--August 19, 2006--BizBigPic, an innovative web-based initiative set to help individuals achieve enduring success in business, is being launched today. This initial stage of development is driven by the introduction of a fundamental theory of business, which provides individuals with a comprehensive and dynamic big picture of the business environment. The theory also includes a universal formula for success that shows what vendors, organizations and individuals, must fundamentally do in order to achieve and sustain success.
Rather than using a book as the main tool for idea dissemination, BizBigPic takes a novel alternative route by using a web-based solution, where the theory is introduced in 10 chapters (steps). However, unlike the narrated chapters of a book, these chapters consist only of a principle and a chart, inviting readers to flesh out their own stories. To complement their own business experiences and knowledge, and therefore making the most of the BizBigPic experience, readers are encouraged to engage in the discussions supported by the web-based solution (www.bizbigpic.com).
Asked about this approach, the founder Cristian Mitreanu said, "We are all busy people. Finding time to read a book (especially a business book) is quite a challenge for most of us. Besides, it seams that most business books out there are little more than a trophy for the author(s), abounding in repackaged ideas and recycled business cases. BizBigPic gives you the essence up front, and saves you time. The narratives are replaced by an interactive web-based solution that gives readers significantly greater value than a book would. It's like being in a 24/7 seminar!"
With its inauguration, BizBigPic breaks new ground in the field of business theory, opening the door for significant changes in the way individuals study and understand business:
1. A Fundamental Theory of Business
Although business has been studied for over a hundred years, the field is still missing its most important element, a fundamental theory. What is commonly dubbed as "business fundamentals" is nothing more than a small collection of disparate concepts, without the support of a unifying platform. As a result, in order to get an understanding of the business big picture (the fundamentals), practitioners are left to mix and choose these concepts as they see fit.
The theory introduced by BizBigPic solves this problem. It provides for the first time in business history a universal framework that explains what happens in business at the fundamental level, as well as a common platform for existent business disciplines and concepts.
2. A Universal Formula for Success
Since the early nineteen sixties, the discipline of Corporate Strategy has been responsible for providing companies with a basic formula for success. Unfortunately, driven by its strong military heritage and a widespread lack of perspective, the discipline has slowly moved into an evolutionary dead-end. Dominated by an insider view ("What should the CEO do?"), most efforts to find a universal formula for success stumble into the firm or industry's specifics. Those that manage to go beyond these specifics fail to address strategy's biggest problem to date--deliver a unified rational-adaptive theory that would support the realities of a dynamic business world. (The rational theories claim that strategy is a plan, while the adaptive theories claim that strategy emerges from daily interactions with the customers.)
The theory introduced by BizBigPic is based on a broad perspective, which recognizes that strategy is in fact a response to the business community's search for a formula for success (an important feature of human nature). As a result, for the first time in business history, it was possible to develop a universal formula for enduring success that provides a unified rational-adaptive framework.
About BizBigPic
BizBigPic is intended to help individuals, entrepreneurs and employees, achieve enduring success in business, part of their broader quest for a successful existence. BizBigPic is a way of thinking, a place, and a community. Its initial stage of development is driven by the introduction of a fundamental theory of business, which provides individuals with a comprehensive and dynamic big picture of the business environment. Cristian Mitreanu, who previously founded the research initiative RedefiningStrategy.com, founded BizBigPic in August 2006. Visit BizBigPic at www.bizbigpic.com.
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