This title is some how misleading, but on the other hand figuratively explain just the main point. The question is about integration. When you buy a mutual fund you are free from integration problems – those are handled by your fund provider.
If you prefer to select (the best) stocks your self, you will have to do the integration on your own. Figuratively speaking, because the real one minute assessment is about business management; how to integrate different solutions...and, what is your preferred approach?
Integration problems arise when you are to solve different problems within the organization with different solutions.
For example in the Sales area. There are areas like:
* e-Mail management – e-mail responding systems
* Campaign management – sending e-mail campaigns. And or common mailings
* Customer management
* Service management
* etc...
For all these areas your organization may choose a best-of-breed kind of solution or a one-size-fits-all. In the first case the solution (system) will provide the best features for a specific area. The best e-mail responder, the best campaign management tool, etc. At the other end your organization may prefer a one-size-fits-all approach; a broad functional coverage of the system and its features, but for any specific area not the best choice.
In the first case your organization ought to manage the integrations problems by itself. In the last case the provider of the system will handle many (but never all) of the integration issues.
This resembles financial management. It is fun to invest in individual stock, building up a portfolio of what you think are the best stocks on the market. But are you sure whether this self catered portfolio will outperform the market? Rather you might consider buying a mutual fund; it solves you many headaches. On the other hand, its less fun.
There is one difference; where in the financial situation you could choose to do both; dedicate a part of you portfolio to self selecting stocks and the other half with a mutual fund. This serves as a benchmark in the same time; which part performs better?
In business there is no such a choice; it is either left -- best of breed, or right (maybe wrong) –- one-size-fits-all. There are not many other options.
Check for yourself what option you would consider first. This influences much of the contribution to this integration discussion in your organization.
© 2006 Hans Bool
Hans Bool is the founder of Astor White a traditional management consulting company that offers online management advice. Astor Online solves issues in hours what normally would take days. You can apply for a free demo account
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