Many people think that mind mapping is a process best used by creative individuals. But there are many ways that mind mapping can help in a business setting as well. It’s important to remember that a business is nothing more than a collection of individuals working together for a common goal. Consider the following ways that mind mapping can help in a business setting.

Find Areas You Can Improve

Mind maps are graphical representations of thoughts. You may not know that you can improve an idea, a product, a service, or a product until you see a road map for that area. If you have a section on the map that seems sparse, it’s time to brainstorm new ideas.

Give Thoughts Structure

Business professionals can use mind mapping to keep track of ideas that pop up in random places. That conversation at the water cooler may translate into your next great marketing strategy when you add it to what already exists on your mind map.

Design a Flow Chart for Change

Any time your business implements a change, you can expect problems to arise. Mind mapping can help your business design a flow chart so that the change is implemented more smoothly. You can track what things need to happen in order to notify all staff of the changes, and you can brainstorm potential problems and solutions before you attempt to implement the change.

There are many cloud computing based mind mapping programs (accessible from anywhere), as well as smart phone apps.

Understand Complexity

A business rarely has a simple structure. You may have several departments working together or a series of processes needed to create one product. With mind mapping you can track how one concept relates to another. You can also see how many sub-elements each main concept has.

Track Information

When you use a mind-mapping program, like FreeMind, you have a method you can use to track information. Summarize reports, add a hyperlink to a specific article, incorporate a graphic, or track other important information all in one location. Additionally, you can see how the information fits into your business model.

See Your Business Pipeline

Do you know what it takes to move an idea into a finished product? What does each department need in order to complete a task? Mind mapping allows you to create a graphical image of your business pipeline. You can track what Sally needs to do in order for John to do his job so that Peter can finish his task.

Enhance Recall

The mind works by connecting ideas to one another. Children learn how to read by being able to associate letters with sounds. When you use a mind map, you are making connections similar to the ones that your brain will make. This process can help expand your mental cognition about your business. You may be able to know the workers in an office by thinking about your mind map and its breakdown of departments.

Mind mapping isn’t just a tool for the creative individuals of the world. Businesses can take the same process and use it to understand the complexity of the company’s model better. With mind mapping, a company can gain the necessary tools to surpass the competition.

Private equity firms Leonard Green & Partners (which is behind Petco, Whole Foods, and Sports Authority, among many others) and TPG Capital (Nieman Marcus, Sabre Group, Midwest Air) have bought out J. Crew for $3 billion. From the Wall St. Journal:

The deal puts the New York company in the hands of private-equity firms TPG Capital and Leonard Green & Partners for $43.50 per share. J. Crew Chief Executive Millard “Mickey” Drexler, a well-known merchant credited with the success of Gap Inc. a decade ago and the more recent turnaround at J. Crew, worked with both firms on the deal. Mr. Drexler will remain with the company.

J. Crew became the darling of Wall Street in the recession as penny-pinching shoppers continued to snap up its embellished cardigans, skinny jeans and cargo pants. The brand has several high-profile fans, including First Lady Michelle Obama.

In a convoluted story, CEO Drexler had to be sued by shareholders for this deal to move ahead. The New York Times has more about the “no-shop” drama behind the J. Crew deal.

Toyota is recalling 2.17 million cars to fix gas pedals that could get stuck in floor mats. If you hear a hissing noise, don’t worry, it’s just the sound of Toyota’s public image deflating even more. The New York Times has more:

The Japanese automaker said it would add three models to the 2009 pedal entrapment recall: about 600,000 4Runner sport utility vehicles from the 2003-2009 model years; 761,000 RAV4 compact S.U.V.s from the 2006-2010 model years; and 17,000 Lexus LX 570s from the 2008-2011 model years.

Toyota also recalled 20,000 2006 through early 2007 GS 300 and GS 350 all-wheel drive vehicles to change the shape of a plastic pad embedded in the driver’s side floor carpet that could cause pedal interference.

That’s a grand total of more than 14 million cars, according to the NYT.

This recall is different from past recalls, however, in that it’s voluntary. Forbes’ Hannah Elliott says it’s part of Toyota’s campaign to regain trust:

It’s smart for Toyota to do this voluntarily, but not exactly surprising. Indeed, the company has taken some significant steps lately to ensure safety and quality in its vehicles–building a global data base to track vehicle repairs, deploying response teams to determine the cause of accidents, and announcing that it’ll soon name a high-level official in Japan as a sort of engineering-safety czar.

All this even though earlier this month the National Highway Traffic Safety Board–with the help of NASA engineers–ruled that most of the reported accidents involving Toyotas and unintended acceleration were the result of driver error, not any malfunctions with the car.

The Wall St. Journal adds that today is an official day of corporate reflection at Toyota. I suppose they reflected on past recalls and decided a voluntary one would be smarter:

Toyota’s actions (on) a companywide day of reflection on Thursday—the one-year anniversary of family scion Akio Toyoda’s testimony before Congress on the recall—to bookend a nearly two-year long corporate crisis.

In Japan, the day will be marked without much fanfare. Divisional and departmental heads are expected to conduct 10-15 minute sessions this week in which small groups of employees reflect on the problems that beset the company and pledge to pursue kaizen, or continual improvement.

Emphasis on the “continual”–it’s going to take a while to pick up these pieces.

Way to splash into the streaming video fray, Mr. Bezos. $7 a month for 5,000 streaming movies and TV shows can only mean one thing. Amazon wants to take a bite out of Netflix’s market share. You can access the Prime channel on your Google TV, Roku box, TiVo, XBox, Panasonic, etc.–but not your Apple TV.

According to ZDNet, this new Amazon Prime feature isn’t just about killing Netflix. It is, as Amazon always is, about selling stuff:

When shipping is removed as a barrier (Ed: Prime subscribers get free shipping), shoppers spend more dough. Amazon rivals clearly see the threat from Prime. As a result, a bevy of competitors such as Toys R Us, Drugstore.com and others have joined Shoprunner, which offers free shipping and deals via participating stores. Shoprunner is a unit of GSI Commerce, which competes with Amazon on the fulfillment side of the e-commerce equation.

Streaming movies are likely to be just a start. Amazon could provide free Kindles to all Prime subscribers. Perhaps Amazon offers Web backup services via Amazon Web Services. You get the idea. Amazon could offer a lot of goodies to Prime subscribers—and probably will.

Amazon still has to beef up its streaming movie offerings to peel Netflix customers away from their pet service, and brand loyalty.

It is interesting to see competition in this area heating up.

After six months of negotiations, French drug giant Sanofi-Aventis has picked up Genzyme, which specializes in the treatment of rare diseases, for roughly $20 billion. FiercePharma’s Tracy Staton sums up the deal:

The two companies have finally agreed to a price–$74 per share, plus contingent value rights–that amounts to $20.1 billion in cash up front. At least one analyst called it a win-win deal. And if that’s the case, it’s because of the CVR approach, which “was an extremely important tool to bridge differences in value,” Sanofi chief Chris Viehbacher (photo) said on a conference call.

The CVRs could be worth as much as $14 each, provided Genzyme and its experimental multiple sclerosis drug meet every target. Genzyme shareholders are due $1 per CVR if the company meets certain production targets for its rare disease drugs, which ran short after manufacturing troubles shuttered a key plant.

More on CVRs here.

The Financial Times explains Sanofi and Genzyme’s motivations:

The deal will help the French pharma group to strengthen its product range as it faces a series of patent expiries on existing so-called blockbusters. At the same time, the FT notes in a separate report, the deal will provide “an exit for Genzyme investors”:

The company has developed a profitable niche in selling high-priced treatments for “orphan diseases” that affect a small number of patients globally, but has suffered setbacks partly triggered by manufacturing problems and supply shortfalls that depressed its share price.

Forbes’ Matthew Herper has more on the strategy and challenges associated with the deal:

The Genzyme acquisition is really a bet that in the future drug companies will need stable businesses like vaccines and consumer health that are insulated from the sudden drops of sales that happen with traditional small molecule drugs in the U.S. market. Generic versions of biotech drugs like the ones Genzyme sells are never going to create this kind of sudden competition.

One key for making the deal work will be holding on to the expertise in Genzyme’s core rare disease drug business. Sanofi would be wise to walk in and offer all those employees raises, and focus any cost-cutting efforts on back office employees and those in other Genzyme businesses. This is the tough trick, here. Roche made all sorts of noise about preserving Genentech’s culture, but it is not at all clear that the company managed to do so.

Update: Here’s a list of Borders stores closing.

Borders Group, currently run by cigarette tycoon and corporate raider Bennett S. LeBow, has filed for Chapter 11 bankruptcy. Bloomberg has the story:

Borders Group Inc., the number-two U.S. bookstore chain, filed for bankruptcy in New York today after management changes, job cuts and debt restructuring failed to make up for sagging book sales in the face of competition from Amazon.com Inc. and Wal-Mart Stores Inc.

Borders, whose market value shrunk by more than $3 billion since 1998, racked up losses by failing to adapt to shifts in how consumers shop. Its first e-commerce site debuted in 2008, more than a decade after Amazon.com revolutionized publishing with online sales. The world’s largest online retailer beat it again by moving into digital books with the Kindle e-reader in 2007, a market Borders entered in July.

Hedge fund owner Bill Ackman, who previously offered to help Barnes & Noble buy out Borders, owns the majority of Borders shares. Borders plans liquidation sales on President’s Day, according to Bloomberg.

With electronic technology taking over, how much longer can any book superstore last?

Deutsche Boerse and the New York Stock Exchange have merged, creating the biggest stock exchange in the world. Reuters has more about the $10 billion deal:

The new company, which has yet to be named and will be incorporated in Amsterdam, will be headed by NYSE Chief Executive Duncan Niederauer, with Deutsche Boerse Chief Executive Reto Francioni taking the post of chairman, the companies said.

Each NYSE Euronext share will be converted into 0.47 of a share in the new holding company. Deutsche Boerse shares will be converted into one share each of the new company. The deal is expected to yield synergies of 300 million euros ($405.2 million), the companies said.

The New York Times writes that the deal has spurred worries about New York’s status as a global financial capital:

The union of the operators of the New York Stock Exchange and the Frankfurt Stock Exchange marks the biggest instance of consolidation among exchanges, as established players contend with smaller electronic markets that have seized market share.

Last week, the London and Toronto stock exchanges announced their own merger, and in October SGX, the operator of the Singapore stock exchange, said it plans to buy the Australian Stock Exchange.

Leaders in both companies haven’t agreed to a new name, although at least one US politician wants the name to contain the words “New York,” according to the NYT.

In an economic context, however, consolidation makes perfect sense, writes The Wall St Journal’s James B. Stewart:

…when I first invested in the New York Stock Exchange, I considered it and fellow exchanges to be near-monopolies, able to deliver high profit margins to their owners. But technology and the rise of rivals like the IntercontinentalExchange have demonstrated that geography is irrelevant. Face-to-face market making is a historic relic, one that makes a nice photo opportunity on the trading floors in New York and Chicago, but one that has almost entirely been supplanted by computers. Exchange trading already is evolving into a competitive, low-margin business where low costs and large scale will determine the survivors.

No wonder the world’s exchanges are rapidly consolidating.

Activision Blizzard wants Guitar Hero to become a legacy product. Due to nonexistent margins, it plans to discontinue the popular game franchise this year. From Wired:

The drastic move comes after significant industrywide declines in the music game business. In 2007, Activision sold 1.5 million copies of Guitar Hero III in its first month of sales. Last year, Activision only sold 86,000 copies of the latest game in the series, Guitar Hero: Warriors of Rock. Slowing sales of chief competitor Rock Band led Viacom to sell maker Harmonix and close the MTV Games publishing division.

Divnich said that the casual gamers that made up the majority of guitar games’ audience have now moved on. “if your primary hobby is not gaming, you get your fill quicker on entertainment products,” he said.

Activision Blizzard called the end to this fad, even though Guitar Hero innovations could arguably have increased the product’s longevity. The company’s “sequel-centric” strategy of getting the most out of every franchise (then dropping it?) is in full force here.

Some 500 employees will be dropped by the end of March, too, according to ShackNews.

Visa plans to buy PlaySpan, which makes software that lets users make purchases inside of apps and games, for $190 million. This is Visa’s second e-payments buy–it bought ecommerce payment company CyberSource last year–and increases its presence in the e-payments industry. TechCrunch has the story:

This is a big exit for PlaySpan, which has raised a total of $46 million in funding since its launch four years ago. PlaySpan has been growing like a weed, striking partnerships with a number of social network, gaming and media companies, including Viacom, Disney, Facebook, Ubisoft, and Sanrio. As virtual goods becomes a booming business, PlaySpan has reaped the benefits of technology and media companies looking to incorporate virtual goods into their platforms.

Visa says that ecommerce sales, which reached an estimated $948 billion, are a big growth area for the company. Approximately 45 percent of U.S. online spending takes place on Visa’s network today and for Visa’s fiscal first quarter 2011, the company reported 25 percent year-over-year growth in ecommerce payment volumes globally. Visa is going to use PlaySpan to capitalize on the growing digital goods market, which generated an estimated $25 billion in consumer spending globally in 2010 and is expected to reach $280 billion by 20143.

PlaySpan was started by a 12-year-old, according to TechCrunch. That’s some reward for the kid (and his dad, who is the CEO of the company).

Mobile is currently a huge part of Visa’s strategy. As the Visa blog notes:

The company is currently testing contactless payments methods in over 20 markets located in both developed and developing countries. Our collaboration with DeviceFidelity— transforming a phone into a payment device—has already been introduced at high volume retailers, such as fast food, taxis, drug stores throughout New York and other metropolitan areas, where speed matters. Outside of the U.S., mobile phones are accessible in ways that a traditional payment infrastructure can’t reach. Visa is moving on all fronts—creating new mobile services, acquiring technologies and platforms, and working with leaders in wireless —to ensure that Visa’s network plays a vital role in bringing secure, reliable and globally interoperable mobile payments to consumers everywhere.

I wonder whether Visa, if it gets a majority share of the mobile pay market, will find a way to game the market in its favor, the way it did with debit cards.

Chrysler’s Dodge Grand Caravan R/T, which the company refers to internally as the “Man Van” because of styling and features geared to appeal to men, will be on display tomorrow at the Chicago Auto Show….The man van is slated to have a black interior with red accent stitching, a performance-tuned suspension and a sound system with nine speakers and a 506-watt amplifier.

Dodge, known for aggressive, male-oriented marketing, may be the perfect brand to break through to men, Gilles said. The minivan has a utilitarian nature that appeals to men and interior cargo space similar to that of a pickup, making it useful for camping and hunting trips, said Chrysler executives, including Todd Breneiser, a lead product planner.

Now all that “man van” trend has to do is take off.