According to research conducted by collins and Porras, the common practice that explains the success of visionary companies-Core Ideology
Explanation:
The core ideology defines the characteristic of an organization—like technological know how , management trends , and individual leaders.
For a firm it is more important to know who they are and how they will go ahead with the changes around them(futuristic vision). The Leaders will die, products will become obsolete, markets demand will change, new innovations will emerge, and management will change , but the core ideology of a company acts as a source of guidance and inspiration in hard times . Core ideology is the glue that holds an organization together when it undergoes the process of growth , decentralization, diversification and expansion
Core Ideology typically means the Vision,Mission & Values of an organization. The ideology acts as a source of communication to stakeholders (i.e. from employees to investors about what the company will stick to and the guidelines to which it will adhere in the future.)
The use of technological advances can be a great help to Sarah and Stephanie in making their business as orderly and as organised as possible. Therefore, they must invest in a software program that could do the job for them. This could significantly lessen their work on managing their business.
<span>The answer in the given statement above is the accounts
receivable conversion. This type of process allows an individual to receive the
amount that he or she converts from paper check into a real amount when scanned
under an electronic machine in which is being described above.</span>
