This entire assignment reflects on the continuous development process of PEW Private Limited, a renowned equipment manufacturer that has been provided high-quality equipment to telecommunication partners in the last three decades. From the case study scenario, it is identified that PEW is facing trouble from emergent suppliers as the high earnings of this organisation is getting decreased. To overcome this issue, a team of multiple professionals have been developed, who will investigate the problem at a primary level. Following that, multiple project management tools are applied in this assignment to turn around this situation critically. Henceforth, the causes of this issues have been analysed by applying seven quality tools. After that, a continuous improvement plan has been constructed by considering PMBOK and PRINCE2 methodologies. Furthermore, required competencies from the management of PEW and employees have been discussed analytically.
In this segment multiple project management tools have been applied to find the major issues of this taken organisation. Furthermore, a continuous development plan has been recommended that PEW Private Limited might take into consideration. Application of these tools is essential for the development of organisational performance (Mir & Pinnington, 2014).
Brainstorming
Three individuals from the team are selected for this technique of root cause analysis. Therefore, the ideas of three individuals are presented in the below table to identify the root causes behind such problems of PEW Private Limited.
|
Member 1 |
Member 2 |
Member 3 |
|
· Lack of innovation in the organisational procedure · The absence of future growth in the manufacturing industry might have created an issue for this organisation · Innovation in the telecommunication industry in Australia |
· Manufacturing industry of this country has been started to develop effectively. From recent news, it is found that the manufacturing industry of Australia is getting expanded (Hutchens, 2017) · High competition in this market might have created an issue |
· The pricing strategy for products of this company is not effective · Customers’ are getting dissatisfied · No further improvement in service portfolio has been identified · Inability to implement change management process has created issues for this organisation |
This is another important technique that can be identified as the root causes of the problems of PEW Private Limited. According to Mir & Pinnigton (2014), root cause analysis tools play a critical role in addressing the major reason behind every problem. Following method has been applied to identify a cause of the difficulties aroused in PEW Private Limited:
Why?
PEW is getting unable to win contracts from service providers
Why?
Multiple competitors have captured the massive market of PEW
Why?
Competitors are offering better pricing strategy to the consumers
Why?
Consumers are looking for new suppliers. From the case study, it is observed that the willingness to work with other suppliers are getting preferred by the customers.
Why?
Lack of innovation and change management is the reason behind, the dissatisfaction of consumers.
Furthermore, it is found that experienced employees of PEW are started to join emerging players in the manufacturing market of Australia. This can be considered as a significant reason behind the fall of the pricing strategy of PEW, as experienced employees of PEW are well known to the pricing strategy of this organisation. Henceforth, it helps competitors to map their pricing strategy to get a competitive edge.
This is another significant tool that helps to identify the possible causes behind any effect of any scenario. As commented by Magar & Shinde (2014), the 5whys technique plays a critical role in generating a proper fishbone diagram of any situational crisis. In this assignment, the fishbone diagram has been developed by focusing on previously applied methods (5whys and brainstorming). Considering this application, numbers of cases have been found which might have played significant roles in reducing the profitability of this organisation by 45%. Following table reflects on the generated causes and their sub causes. [Referred to Appendix 2]
|
Effect: 45% decrease in profitability of PEW Private Limited |
|||||
|
Major causes and Sub causes |
Captured market |
Employees’ are joining new companies |
Consumer dissatisfaction |
Improper pricing strategy |
Inability to win contracts |
|
· High competition · Participation of new players · Potential growth in the manufacturing industry |
· Strict organisational policy · Employee dissatisfaction and demotivation · A high turnover rate of employees |
· Lack of innovation · Supply chain issues · Brief life cycles of products |
· PEW is unable to benchmark its business · The company is not selling value · Too high price as per the market standards |
· Lack of centralisation · Tight margins of production · Unable to extract key data |
From the fishbone diagram, it can be said that the identified causes played a critical role in decreasing the profitability rate of PEW Private Limited. In this context, the brainstorming session with team members has played the crucial part. As commented by Chen & Chen (2015), improper pricing strategy might impair the established reputation of any organisation. Multiple reasons have been identified such are:
From this fishbone diagram, a flowchart has been developed that might allow management of PEW Private Limited to nullify the available issue.
Focusing on the drawn diagram, it can be stated that the organisation should select a better option that might help the PEW to overcome the current issues of profitability decrease, employee turnover and consumer dissatisfaction.
Pareto Diagram arranges items to identify the contribution of different things that exhibit influence on any organisation. It is found that a Pareto Diagram can be used to prioritise the issues and to tally corrective actions for measurement. The team members of this project have surveyed to generate information on the impact of developed causes. 53 individuals of this company have been taken as the participants for this study. Based on the responses, this Pareto Diagram has been developed. [Referred to Appendix 3]
This scatter graph has helped to identify significant aspects of the project. This graph reflects on the importance of respondents on their stated responses. This has helped to develop a better idea about the root problems of this indicated scenario. It is found that scatter graph can be interpreted as a useful tool for planning, monitoring and controlling of different issues that can be found in an organisational setting (Petro & Gardiner. 2015). It is also observed that scatter graphs generally developed by considering dependent and independent variables. In this study, the same has been designed for root cause analysis. [Referred to Appendix 4]
Like Radar Graph, this root cause analysis tool has played a significant instrument in identifying the root cause behind such problems in this company. From the interpretation, it can be said that most of the respondents have identified lack of innovation as the primary reason behind such declination of this organisation. Therefore, this radar graph is found essential to construct a continuous development plan (Yuan & Yang, 2017). [Referred to Appendix 5]
Assumptions from the root cause analysis of this case study
Assumption 1: PEW Private Limited might lose the market share within two years from till date
Assumption 2: Employee turnover rate might be increased. This will lead to high amount of dissatisfaction amongst more senior management of this organisation
Assumption 3: Decentralisation in the work procedure of this company might have been found
Assumption 4: PEW might lose its consumer base if the life cycle of the products do not get increased
Continuous Improvement Plan for PEW Private Limited
Considering the guidelines of PMBOK, this constant development plan has been developed in this assignment. From the given case study, it is observed that PEW Private Limited is facing multiple issues that have reduced the productivity of this organisation. From the root cause analysis, the problem of innovation is identified. As commented by Carnall (2018), change is highly required to expand the business operations of any organisation. Besides this, employee issues, supply chain management issues and much more have identified in this project.
Business and Strategic Management
It is observed that effective strategic and business management allows enterprises to secure a specific goal. Besides that, development of policies and plans are essential in achieving business goals significantly. In the context of PEW Private Limited, it can be said that demonstrating active business and strategic management might help this organisation to ensure value.
Technical management, like business management, is equally important for any organisation to ensure safe practice. In order to complete the required actions in a significant way, following critical skills are needed:
Big data analytics skills: As commented by Sivarajah et al. (2017), business organisations of modern days are getting data-driven. Therefore, it is essential for PEW Private Limited to prioritise this skill to keep track of inventory and other stocks. Thus, the following abilities is that required to be excelled by this organisation:
Existing literature has identified the significance of organisational leadership in generating excellent performance and business values. According to Rae (2017), the command can be interpreted as an art of process that influences employees to complete any task significantly. Therefore, the importance of leadership skills cannot be neglected. It is identified that absence of leadership skills might hinder the quality management process of any organisation. Therefore, focusing on the required skills of this organisation, the following skills are needed to demonstrate organisational excellence successfully:
Communication: Communication between employees and other stakeholders allows leaders to create a successful business (Nicholas & Steyn, 2017). Henceforth, being a clear communicator, leader of this organisation will be able to explain plans significantly.
Motivation: Leaders of business enterprises need to be motivated and clear minded. It is found that positivity in the workplace allows leaders to demonstrate positive environment across the workplace. Despite recent losses, business leaders of PEW Private Limited need to implement a better motivation that might allow this organisation to create an effective strategy.
Conclusion
This entire assignment about the continuous development discusses the current situation of PEW Private Limited. It is observed that the organisation is currently facing multiple issues that have decreased the profitability of this organisation by 45%. Henceforth, various tools and techniques have been used to perform root cause analysis of this situation. Considering the findings of the Fishbone diagram, brainstorming, Pareto graph, it can be said that lack of innovation is the primary reason behind such problems of this organisation. In this context, other issues with supply chains and benchmark have been identified in this case study. In order to nullify these issues, a continuous development plan has been developed by considering the principles of PMBOK process. Henceforth, required skills, resources and projected actions have been discussed in this assignment.
References
Carnall, C. (2018). Managing change. Abingdon: Routledge.
Chen, M., & Chen, Z. L. (2015). Recent developments in dynamic pricing research: multiple products, competition, and limited demand information. Production and Operations Management, 24(5), 704-731. Retrieved from https://www.academia.edu/download/39378888/Recent_Developments_in_Dynamic_Pricing_R20151023-10554-gfvmo7.pdf
Hutchens, G. (2017), Australia’s manufacturing industry on rebound, report says, The Guardian [online]. Retrieved from https://www.theguardian.com/business/2017/jun/21/australias-manufacturing-industry-on-rebound-report-says
Magar, V. M., & Shinde, V. B. (2014). Application of 7 quality control (7 QC) tools for continuous improvement of manufacturing processes. International Journal of Engineering Research and General Science, 2(4), 364-371. Retrieved from https://ijergs.org/files/documents/APPLICATION-45.pdf
Mir, F. A., & Pinnington, A. H. (2014). Exploring the value of project management: linking project management performance and project success. International journal of project management, 32(2), 202-217. Retrieved from https://www.academia.edu/download/49531710/Exploring_the_value_of_project_management_Linking_Project_Management.pdf
Nicholas, J. M., & Steyn, H. (2017). Project management for engineering, business and technology. Abingdon: Routledge.
Petro, Y., & Gardiner, P. (2015). An investigation of the influence of organizational design on project portfolio success, effectiveness and business efficiency for project-based organizations. International Journal of Project Management, 33(8), 1717-1729. Retrieved from https://pdfs.semanticscholar.org/3583/17e11dcfd0b569c5142892eff4a121d9a64d.pdf
Rae, D. (2017). Developing entrepreneurial leadership: the challenge for sustainable organisations. International Journal of Work Innovation, 2(1), 76-100. Retrieved from https://bgro.collections.crest.ac.uk/80/1/Rae_Developing%20entrepreneurial%20leadership_2016.pdf
Sivarajah, U., Kamal, M. M., Irani, Z., & Weerakkody, V. (2017). Critical analysis of Big Data challenges and analytical methods. Journal of Business Research, 70, 263-286. Retrieved from https://www.sciencedirect.com/science/article/pii/S014829631630488X
Yuan, L., & Yang, S. (2017). Research on the Cost Management and Forecast for the Projects of Petrochemical Enterprises. Chemical Engineering Transactions, 62, 1423-1428. Retrieved from https://www.cetjournal.it/index.php/cet/article/view/CET1762238/1022
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