1. Describe five different methods of analysing and evaluating the performance and sustainability of your key systems and processes.
2. Outline the stages of the supply chain process relative to your business
3. Describe the use of three methods which may be used to measure performance within your organisation.
4. What are the analytical steps that you should follow when considering the amount of variation from the plans and key result areas of your organisation?
Benchmarking approach: Benchmarking is referred to as a method that involves the comparison between the business competitors considering both the target market and the outside marketers. In addition to this the companies are required to consider the strength and weaknesses for the service and processes offered by the companies (Yoo 2015). Over a defined time phase, the performance levels are measured.
Interview and question: Both the employees and the consumers are required to ask question for understanding their actual needs. Based on the answers gathered from the questionnaires, the companies should improve their service approach.
Business meeting: The companies are required to arrange business meetings to give perspectives on business requirements. In order to gain effective competitive advantages and commercial revenue it is necessary for the company to arrange proper business level meetings (Viljoen 2012).
Social media monitoring: With the help of social media monitoring the business organizations will be able to build a presence on different social media network. It will help to follow the profiles of the business consumers for giving feedback on the performances.
Financial analysis: This is another important method that is used for analyzing and evaluating the sustainability of the business organizational performances (Rosemann and vom Brocke 2015). It is the responsibility of the finance manager to develop a budget plan or feasibility study to understand whether the business is beneficial or not.
Supply chain management is referred to as a building process that helps to deliver desired services and products to the consumer s per their requirements. There are five different phases used by the business organization for the successful implementation of the supply chain management (Zimoch, Kolb and Reichert 2016). It is necessary for any business organization to implement all the phases step by step. The four stages or phases of supply chain management are as follows:
Plan: Planning is a strategic phase that is used by the project managers to initiate the supply chain management process.
Source: The stage helps to emphasize the production procedure.
Execute: In order to execute the processes this particular phase of supply chain management is required.
Deliver: The designed process should be delivered considering all the necessary actions
Return: Based on the feedback or invoice generated from the consumers the overall process of supply chain management is required to be returned.
System developer: The system developers are responsible to develop and design the digitized system
Technical architect: Outlines the technical specifications of the system
Web operation engineers: The web operation engineer’s jobs are to control and monitor all the operations of the system that has been developed.
The strategies those are widely used for the successful continuous improvement implementation are as follows:
Lean technology is also known as the lean manufacturing and the technology is consists of three factors in terms of people, processes and technology. This strategy comprises of small cycles and much focused on the total quality improvement and continuous improvement at the same time (Saidani and Nurcan 2014). Toyota company has evolves this particular continuous improvement process. This approach was implemented for streamlining the production chain of the companies in addition to its dramatic reduction in operations and overhead cost.
Six Sigma is referred to as another continuous improvement strategy which is used by the business organizations for the successful delivery of their products and the services at the same time. This strategy is much focused on achieving the highest level of quality that is obtainable within any business organization. It has been found that the companies those have used the Six Sigma continuous improvement plan reached the perfection level of up to around 99% most cases (Sila 2013). The business owners do utilize this approach for identifying the root cause of the risks and then develops risk mitigation strategies simultaneously. Hence; it can said that the issues those interrupt the success of any business can be resolved with the help of the technology called six sigma. The problems those may reduce the effectiveness of the process will be reduced with the help of six sigma. The continuous improvement strategy or philosophy is consists of progressive improvement until it reach the maximum level of perfection.
Time audit is a key approach that is used for incorporating continuous improvement in the business organizations. This kind of improvement is possible by cross checking the project audit report that has been developed by the business organizations at the very initiation phase (Yoo 2015). In order to track the time proper benchmark is also required to be set by the project managers and the business executives. For the successful job specification the time audit is very much important part to be considered. Though at the leadership level or at the employees level the time audit is not possible to implement or even apply. In order to complete any task it is necessary for the owners to estimate the total time that may be required and the same time the total that the employees are taking for the successful completion of the project.
As soon as all the required information are recorded the study can be run for examining the data in order to establish he standard through which the project and business owners can track the total time that the company may take for completing the task or project (Zimoch, Kolb and Reichert 2016). Successful time audit gives better control to the project in terms of products and services.
The different types of work groups exists in the businesses are functional work team, interworking team, project team, self management team, task force team and trouble shooting team.
In order to promote interaction between the work team it is necessary for the project head to implement open communication to share the ideas and creativity among the working team members.
Actively solicit ideas, stress the importance of creativity, act of ideas and reward creativity are the methods to be used by the business use to inspire and reward the generation of new ideas
The steps will be followed for the successful implementation of lean manufacturing technology includes the following:
If these phases are properly followed then the issues of business will be reduced both in terms of cost and time.
The company is required to implement open communication method to maintain the interaction among the project team members and the working employees.
|
Type of Event |
Likelihood |
Potential impact |
Appropriate response |
Staff members involved |
Resources required |
|
Risk assessment |
Possible |
High |
Risk management matrix design by prioritizing the risks |
Employees belongs to troubleshooting team |
Project manager and business analyst |
Potential costs of business innovation and improvement
Cost Benefit Analysis (CBA) is referred to as a process that is used by all the business organizations to check and measure the total profit that may be generated from the investment or input. This systematic approach helps to justify the total investment that was the input to the business projects.
Methods of Cost benefit analysis
There are different methods of cost benefit analysis are available and based on the background of the business the mist suitable CBA method is applied by the business heads. the different methods of cost benefit analysis are as follows:
Return on Investment: The return on investment is a mathematical formulae which evaluate the efficiency of total investment or contrast the efficiency of the number of different investment.
NPV: Net Present Value helps to calculate the financial status by calculating the difference between the present value and the cash outflow.
Breakeven: This process of cost analysis helps to determine the requirement to sell either monthly or annually for covering the cost for doing the business successfully
There are certain common approaches available to innovation. It is necessary for the business organizations and other project developers to determine the most suitable approach of innovation. The innovation will depend on the business strategies, its business capabilities as well as market understandings. Depending upon the available finance the approach should have to be selected. There are many business innovations that the business analysts may focus on in their business includes the followings:
In order to encourage the innovation in business the business developers must develop and communicate a clear, simple vision with a strategy that will help the company to achieve the project goal. Though strategy is nit the ultimate factors in addition to this proper leadership is also necessary to respond to the project objectives in a much flexible way. After analyzing the details of the market trends and competition the competitors are to be evaluated and operated in a similar way.
The analysts should consider certain accurate innovative steps accordingly in terms of business process and practices, extra training for the staffs, additional resources, protection mechanism for the intellectual; properties etc. If the executives maintain all these phases properly then the business and the companies will be able to meet the objectives or organizational goal within estimate time and budget.
Process mapping: Process mapping is a workflow diagram that gives clear understanding to the project developers. This tool helps to identify the opportunities for the professional improvement.
Drive: This continuous management tool is comprises of define, review, identify, verify and execution
PDSA Cycle: The plan to do cycle is consists of certain phases like plan, do, study and act.
Root cause analysis: This tool is used for discovering the root cause of the issues that interrupts the success of the projects or the business objective
Risk management is referred to as a process or practice that helps to identify the potential risks. After analysis the risks are to be prioritized and proper mitigation plan should have to be developed by the project manager.
Without risk and uncertainty innovation is not possible. Innovation is referred to as a relation between creation and offering something. Innovation includes the development of many new products, services etc (Da Costa 2016). The sources of different risks are to be predicted and must be received with the help of appreciation. Risk is an essential part of innovations that speedily globalizes the world and increases the overall business efficiency. Risk management can establish a proper context that may accurately develop the responses for identifying the risks. During the project development lifecycle phases if all these risks are identified then innovation will become much easier and effective from the business perspectives.
In order to serve long term business and organizational success different types of continuous improvement plans are available in the business domain. According to the background of the business the most suitable continuous improvement plan is required to be chosen by the project managers. It is important for the owners to identify and apply the most helpful continuous improvement plan in their business. As the objectives and aim of any business is to accelerate their growth during lean (Caporale 2016). They are always looking for reducing the overall cost throughout the business processing phase. However, besides the reduced cost the other expectations include quality improvement, service quality up gradation, delivery time improvement and the billing cycle reduction. The different tools and strategies those are used for the continuous improvement are as follows:
Woolworths Limited is a food retail sector whose mission is to deliver fresh and quality food products to the consumer with an affordable price range. In addition to this another aim of the company is to bring middle class products into the working class homes. The targets of the company are the upper middle class households and the population who belongs to the working class. In order to realize their competitive market and expected revenue that the company may obtain are valuated with the help of the internal or SWOT analysis. The SWOT analysis of Woolworths Limited is elaborated in the below section:
|
SWOT analysis |
|
|
Strength · Woolworths Limited is the first Australia based retail company who introduced the modern retails trade model · Woolworths Limited has over 800 stores and 30,000 employees throughout New Zealand and Australia. · In order to exploit the market potential the leadership position of the company is also enhanced accordingly with the help of their string resources and external environmental conditions. · The packaging cost of the company is also less than the other companies due to their minimized carbon footprint and cost efficiency. · Across the industry, the technical and human resources the company uses are very much effective from the business perspectives. |
Weaknesses · The strategy followed by the company only impacts the internal environment and not the external environment. Thus, the Australian retail market always dominates this retails sector. · The move of the company is also restricted by the Australian government · The weakness of the company increases due to it collaboration with the Coles manufacturers. · Higher price if ranged for some of the food products |
|
Opportunities · Across Australia the retails company shows effective growth potential and also the factors like computerization as well as supply chain and advanced life changing opportunities. · The multi operational activities applied by the company gives the company a positive ambiance to operate · It business strategies used by the company develop a consumer friendly environment through which Woolworths Limited can gain competitive advantages. · Due to the effective strategies the company can adopt the change management prcatices very easily. |
Threats · In Australia many similar type of industries are establishing and as a result the total number of competitors of the company are also increasing accordingly. · The governmental intervention are negatively impacting the business growth of Woolworths Limited · Certain significant factors of Australian retail industry are not considered by Woolworths Limited, which is a referred to as major threat to the company. |
In order to develop the innovative business strategies the company is required to consider and adopt certain advanced management level approaches that may interrupt the regular success of the company. It is necessary for Woolworths Limited to identify the practitioners and the business executives that seems not many other organizations have. Before and during the development and implementation of the innovation strategies the company is needed to identify some issues and the issues are as follows:
There are huge differences between risk and uncertainty, risks can be mitigated but uncertainties cannot be identified at the project and business initiation phase. It is necessary for the busies leaders to identify the possible risk such as improper resource identification, lack of management of cost, budget and time overrun, lack of experts etc.
Overrun of budget and time: It is necessary for the business organization to estimate the cost and total time that may be required for the successful implementation of any project. If the project head fails to estimate the time and budget at the beginning phase then the entire project may be a failure and also additional cost can also be required for the successful completion of the project and innovation of the business.
Lack of expertise: Lack of experts is another issue that may interrupt the success of the business innovation. It is necessary for the organization to organize professional on job training and development so that the business can be implemented without any error. Technical experts are to be hired for the innovations so that they can
Improper resource identification: In order to successfully implement any project activity, it is necessary for the project heads to identify the resource and allocate them for the relevant activities. In addition to this, extra cost should also be considered in those cases where other resources will be required.
Different sources are there those are widely used while attempting for identifying trends those are relevant to the business. Trend analysis is referred to as a process used for comparing business level data over time for identifying the consistent resultant of business trends. The business analyst can develop the business strategies to respond to the trends in line along with the business goals. The process named as trend analysis helps to understand the way through which the business can be performed and predicted where the recent business operations as well as practices would be take the company objectives. In order to direct the business towards the correct direction it is necessary for business owners to adopt proper change management approaches.
For identifying the trends those are relevant to the business certain sources are required to be identified by the business heads. Then based on these components, respond strategies should have to be developed by the project managers and the business heads. The developers can use trend analysis for improving the business through the following decorum:
Initially the company has a manual data or information management system however with the changing time period the company has developed a automated information system. It is expected that with the help of the automated data management system the company will be able to store and retrieve information from the server whenever required. Woolworths Limited has currently implemented E-Commerce platform where the business operation and all the functional activities will be performed accurately with high level of efficiency.
E-commerce channel is not just used for increasing and speed up the operational activities rather it is also used for the promotion of the business. In order to raise the business awareness among the competitive market E-commerce marketing is highlighted as a major process that helps to drive the sales of the company with huge competitive advantages and measurable commercial revenue. Though the modern E-commerce marketing or digital marketing applies traditional marketing principles to a multichannel, data driven ambiance.
If the Ecommerce market is broken into parts them two different parts generate in terms of driving website traffic and user experience conversion to grab more number of shoppers. In order to develop the Ecommerce marketing strategies it is necessary for the business organization to consider both of the Ecommerce marketing strategies. It is expected that with the help of the Ecommerce marketing strategies the growth of the online business will automatically enhance. In order to gain clear understandings for E-commerce marketing basics a start with the solid foundation of the commonly user terms are required.
Par per click advertising: In order to run an effective PPC campaign it involves strategies bidding over the keywords or phrases those are used in the advertisements those have been created. On a per click basic, the search engine can earn the revenue as per click. The impressions of the users are determined with the help of the search engine advertisement.
Search engine marketing: Search engine marketing (SEM) is used by different marketers for describing all the paid as well a organic efforts. It is also used for describing many efforts over the Google AdWords platform and the paid platform on the other search engines as a Bing.
Display advertising: Display advertising is referred to as a banner or sidebar and also other predominantly visual advertisement which may appear on the other websites also. With the help of the add networks the display advertisements are facilitated. Apart from this email marketing is another important target that helps to enhance the online marketing of the company.
The founder of Microsoft, born n the year of 1955 was one of the well known American business magnet. The owner of Microsoft develops the first retail version of the Microsoft Windows on November 1985.
Innovation strategies that have played a part in the successful business
In order to implement the way through which the organization get approval for the innovation include:
Steps required for process speed up and efficiency improvement
References
Arli, V., Dylke, S., Burgess, R., Campus, R. and Soldo, E., 2013. Woolworths Australia and Walmart US: Best practices in supply chain collaboration. Journal of Economics, Business, and Accountancy| Ventura, 16(1), pp.27-46.
Barnes, S. and Hunt, B. eds., 2013. E-commerce and v-business. Routledge.
Caporale, T., 2016. A Tool for Natural Language Oriented Business Process Modeling. In ZEUS (pp. 49-52).
Chang, J.F., 2016. Business process management systems: strategy and implementation. CRC Press.
Claes, J., Vanderfeesten, I., Pinggera, J., Reijers, H.A., Weber, B. and Poels, G., 2015. A visual analysis of the process of process modeling. Information Systems and e-Business Management, 13(1), pp.147-190.
Da Costa, E., 2016. Global e-commerce strategies for small businesses. Mit Press.
De Giacomo, G., Dumas, M., Maggi, F.M. and Montali, M., 2015, June. Declarative process modeling in BPMN. In International Conference on Advanced Information Systems Engineering (pp. 84-100). Springer, Cham.
de Oca, I.M.M., Snoeck, M., Reijers, H.A. and Rodríguez-Morffi, A., 2015. A systematic literature review of studies on business process modeling quality. Information and Software Technology, 58, pp.187-205.
Deng, S., Wang, D., Li, Y., Cao, B., Yin, J., Wu, Z. and Zhou, M., 2017. A Recommendation System to Facilitate Business Process Modeling. IEEE transactions on cybern
Dr?gan, M., Ivana, D. and Arba, R., 2014. Business process modeling in higher education institutions. Developing a framework for total quality management at institutional level. Procedia Economics and Finance, 16, pp.95-103.
Fellmann, M., Zarvi?, N. and Thomas, O., 2018. Business Processes Modeling Recommender Systems: User Expectations and Empirical Evidence. Complex Systems Informatics and Modeling Quarterly, (14), pp.64-79.
Fernie, J. and Sparks, L., 2014. Logistics and retail management: emerging issues and new challenges in the retail supply chain. Kogan Page Publishers.
Galliers, R.D. and Leidner, D.E., 2014. Strategic information management: challenges and strategies in managing information systems. Routledge.
Gayialis, S.P., Ponis, S.T., Panayiotou, N.A. and Tatsiopoulos, I.P., 2015. Managing Demand in supply chain: the business process modeling approach. In 4th international symposium and 26th national conference on operational research, Chania, Greece (pp. 73-79).
Harmon, P., 2015. The scope and evolution of business process management. In Handbook on business process management 1 (pp. 37-80). Springer, Berlin, Heidelberg.
Hull, R., Koschmider, A., Reijers, H.A. and Wong, W., 2016. Fresh Approaches to Business Process Modeling (Dagstuhl Seminar 16191). In Dagstuhl Reports (Vol. 6, No. 5). Schloss Dagstuhl-Leibniz-Zentrum fuer Informatik.
Jacobs, F.R., Chase, R.B. and Lummus, R.R., 2014. Operations and supply chain management (pp. 533-535). New York, NY: McGraw-Hill/Irwin.
Johnson, P.F., 2014. Purchasing and supply management. McGraw-Hill Higher Education.
Jones, A.C., 2017. A Segmented Abstraction Hierarchy Model for Business Process Modeling. In Advances in Human Factors, Business Management, Training and Education (pp. 127-133). Springer, Cham.
Kasemsap, K., 2016. The roles of business process modeling and business process reengineering in e-government. In Handbook of research on innovations in information retrieval, analysis, and management (pp. 401-430). IGI Global. etics, 47(6), pp.1380-1394.
Kruger, H. and Fourie, L.C., 2015. Online product and/or service brand offerings in South Africa. South African Journal of Economic and Management Sciences, 7(3), pp.440-458.
Mlitwa, N. and Raqa, N.M., 2012. The Socio-Technical Dynamics of e-Commerce Adoption in the Mainstream Grocery Supermarkets in South Africa. I-Business, 4(4), p.350.
Moloney, D.J., 2015. A review of the critical success factors and challenges facing e-commerce in the clothing industry in South Africa(Doctoral dissertation, Stellenbosch: Stellenbosch University).
Nolte, A., Brown, R., Anslow, C., Wiechers, M., Polyvyanyy, A. and Herrmann, T., 2016. Collaborative business process modeling in multi-surface environments. In Collaboration Meets Interactive Spaces (pp. 259-286). Springer, Cham.
OsinAike, A., 2016. Business Operations Management. Operations Management in the Travel Industry, p.45.
Rosa, M.L., Van Der Aalst, W.M., Dumas, M. and Milani, F.P., 2017. Business process variability modeling: A survey. ACM Computing Surveys (CSUR), 50(1), p.2.
Rosemann, M. and vom Brocke, J., 2015. The six core elements of business process management. In Handbook on business process management 1 (pp. 105-122). Springer Berlin Heidelberg.
Saidani, O. and Nurcan, S., 2014. Business process modeling: a multi-perspective approach integrating variability. In Enterprise, Business-Process and Information Systems Modeling (pp. 169-183). Springer, Berlin, Heidelberg.
Sila, I., 2013. Factors affecting the adoption of B2B e-commerce technologies. Electronic Commerce Research, 13(2), pp.199-236.
Singer, R., 2016. Business Process Modeling and Execution–A Compiler for Distributed Microservices. arXiv preprint arXiv:1601.05976.
Stander, A.M., 2015. Investigating the use of e-commerce to empower South African women (Doctoral dissertation, North-West University (South Africa), Potchefstroom Campus).
Stavrou, V., Kandias, M., Karoulas, G. and Gritzalis, D., 2014, September. Business Process Modeling for Insider threat monitoring and handling. In International Conference on Trust, Privacy and Security in Digital Business (pp. 119-131). Springer, Cham.
Viljoen, M., 2012. The impact of e-commerce on customer relationship management in the financial services industry.
Yoo, T., 2015. Supply chain simulation using business process modeling in service oriented architecture. International Journal of Information Systems and Supply Chain Management (IJISSCM), 8(4), pp.30-43.
Zimoch, M., Kolb, J. and Reichert, M., 2016. Considering social distance as an influence factor in the process of process modeling. In Enterprise, Business-Process and Information Systems Modeling (pp. 97-112). Springer, Cham.
Essay Writing Service Features
Our Experience
No matter how complex your assignment is, we can find the right professional for your specific task. Contact Essay is an essay writing company that hires only the smartest minds to help you with your projects. Our expertise allows us to provide students with high-quality academic writing, editing & proofreading services.
Free Features
Free revision policy
$10Free bibliography & reference
$8Free title page
$8Free formatting
$8How Our Essay Writing Service Works
First, you will need to complete an order form. It's not difficult but, in case there is anything you find not to be clear, you may always call us so that we can guide you through it. On the order form, you will need to include some basic information concerning your order: subject, topic, number of pages, etc. We also encourage our clients to upload any relevant information or sources that will help.
Complete the order form
Once we have all the information and instructions that we need, we select the most suitable writer for your assignment. While everything seems to be clear, the writer, who has complete knowledge of the subject, may need clarification from you. It is at that point that you would receive a call or email from us.
Writer’s assignment
As soon as the writer has finished, it will be delivered both to the website and to your email address so that you will not miss it. If your deadline is close at hand, we will place a call to you to make sure that you receive the paper on time.
Completing the order and download