by A round cycle diagram is a graphical representation in which a continued process is shown on the charts. This chart or diagram shows how a series of events or steps interacts with the entire system and repeats itself. It depends on each individual situation that how the cycle is represented. For example, sometimes circles are used and they are connected with arrows to each other and the head of the arrows show the cycle either it’s clockwise or anticlockwise. Cycle of life or circle of money in a company is the best example of this diagram in which the money enters from the buyers and investors and consumed in making the products. Once the products are sold to buyers, the money comes right back in the company from the starting point of the cycle and the whole process keeps on going.
Importance of Round Cycle Diagrams:
There are many benefits and advantages to discuss about round cycle diagrams and this specific business tool has a lot of important elements to be discussed too. For example, we can start with the fact that it is really easy to create a round cycle diagram and even if the situation isn’t that simple or easy to discuss, this diagram or graphical representation of cycle can make it quite easy to understand. Another big advantage of this technique is that it can be used in any situation and scenario. Whether you want to discuss the product life cycle with your employees and production team or you just want to explain the money flow in the organization, you can use round cycle diagrams.
Application of Round Cycle Diagrams in Business:
It is a very common thinking in business world that no matter how much you concentrate on creating a plan for your company, there comes a time when you have to replace it or at least renew in order to continue your business. It is true that all policies, plans and strategies have a useful life time such as 1 week or 6 months or 1 year but after that time, the company needs to create a new strategy for the next period of time. But, there are many processes and procedures that repeat themselves in the company and even if it’s been years, the same cycle keeps going on again and again.
For example, the cycle of producing equipment will remain the same and it will include the same steps one after the other. Once the process reaches the end point, the whole process starts itself from the beginning once again. To represent that kind of cycle or process that repeats itself, round cycle diagram is used. Round cycle diagram is the best example of business technique or tool that can be used in any situation and for any kind of company. It doesn’t matter if you offer products or services to your customers, either you have a small local based company or a big global organization, you can use round cycle diagram in any scenario.
