Sample Essay On Managing Business Activities
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Management of business activities forms an integral part within the performance aspect of an organization. Accordingly, as a functional facet in business performance, it is directed towards major emphasis on planning, control and monitoring of diverse activities. Majority of businesses within the global scope incorporate operations management with a view of sustaining competency and performance of effective projects undertaken. The realization of the importance of business management is bound to sustain profitability and increased successful outputs within the project undertaken. Thus, this paper will evaluate business management activities as per ERA Real Estate agents as per the case study
Q.1 Evaluate the benefits of an interrelationship between two functions within of the organisation identified in the Shaping Your Future section. Also explain one specific transformation process involved in this interrelationship by giving a real example. (1.1)
Business relationships are dependent on effective partnership and conformity to the performance mandate. Thus, the two functions and their interrelationship within the organisation are as follows:
First and foremost, management of business activities denotes a slice of management that handles with detailed planning, monitoring, designing and controlling the production spheres of the organization to ensure efficiency and cost effectiveness. Activity management examines the resource allocation within the organization coupled with its utilization to sustain clientele satisfaction and revenue yield. Thus, from the evaluation of ERA agents, partnership in management is important since it;
Operations management tools are significant towards the production aspects of a company. Hence, through the inculcation of input-output ratio ERA agents can determine the degree of productivity (Collier & Evans, 2011, p82-174). The input-output ratio should be high to sustain extensive productivity at ERA agents.
Several organizations do not operate within an optimized mandate. As such, businesses do not invest into efficiency to sustain production. Underutilization of resources coupled with wastage leads to under performance (Collier & Evans, 2011, p82-174). Through ERA agents extensively reviewing its production process, it is bound to enhance its production hence optimizing input use to ensure heightened revenue yield.
Q.2 Suggest a methodology you would use to map any process within the organization identified in the Shaping Your Business section to its goals and objectives. (1.2)
Operating in a timely, cost effective and core competent mandate is imperative at ERA agents. Thus, an in-depth analysis of effective methodologies is effective towards profitable outcomes. Hence, an analysis of the three methodologies is as follows:
First and foremost, production within timely bases is important due to the notion of dependability. ERA agents have diverse stakeholders who consume their goods and services. Customers emanating from individuals and businesses require the organizational goods within a timely manner (Collier & Evans, 2011, p82-174). Failure to produce within a timely manner leads to reduced dependability which portrays a negative reputation which is detrimental to the organization.
Quality, in reference to Cooke (2012, p42-89) can be a core competency that an organization could invest into extensively. Quality is a differentiating aspect from other products and services which are similar in their production process. As an intrinsic value evidenced from the market perception, it is imperative that ERA agents ensures quality in their goods and services availed. The quality goods and services availed ensure an effective market dominance since customer perception is positive. An organization that enjoys the quality perception within the consumer market is bound to generate higher sales volume.
Lastly, production to cost is significant and paramount within the operative aspect of an organization. Production to cost leads to reduced diversion of finances to meet the production targets. Accordingly, an organization that produces to costs meets the targets set and ensures the budgets set are in line to organizational mandate.
Q.3 Evaluate the purpose of a quality gateway in the Operations department of the organization identified in the Shaping Your Business section. (1.3)
The main focus of quality management at the organisational operations department is to establish the current operative mandate at ERA agents and how the targets from the top management will be obtained. The lower level management ensure that the daily activities at ERA agents are continuous in execution and aligned to the set strategies. Through the lower level, which forms part of the operations management, mobilization of resources within a more holistic approach ensures objectives set are accomplished.
On the other hand, strategic planning aims towards the aims and objectives of ERA agents are to ensure that employees operate effectively towards attainment of the set goals. Hence, through aligning of strategic planning and operations management, realization of ERA agent’s goals is evident. Strategic planning provides a blueprint whereas operations management ensures that employees inculcate the strategic plans and perform effectively to accomplish the goals set.
Q.4 Create one operational plan by applying MBO (Management by Objectives) or Planning Hierarchy and Planning Process Models for your own areas of responsibility. (2.1)
First and foremost Kolli (2013, p29-104) emphasizes that an operational plan is a vivid and more descriptive plan on the various activities or paths that a business should undertake in accomplishing a given target or set objectives. Operational plans form a profound aspect within the holistic strategic plan and ensure a proper link between operational management and holistic management of the organization. On the other hand, control entails incorporating the right measures that safeguard and ensure the targets set are obtained. Control sustains conformity to the paths stated within the operational plan towards the accomplishment of given targets. Hence, the operational plan is needed by the organization since it makes extensive policy statement of the;
Human resources required
Financial resources required in given operations
Q.5 Write at least two SMART (Specific, Measurable, Achievable, Realistic and Time-based) objectives relevant to your operational plan to align people and other resources in an effective and efficient way. (2.2)
Evaluation of the success of the ERA estate process will be dependent on various approaches within the business. Accordingly, from the analysis of ERA agency, the various ways of analysing the success of the assessment process will denote
Evaluation of employee reaction generates information on the success of the assessment process. As such, the inculcation of in-house training will generate the need to examine employee reaction through:
observation of employees
open complaint handling framework
internalizing questionnaires to evaluate employee feedback
Q.6 Implement appropriate systems to achieve objectives in the most efficient way, on time, to budget and meeting standards of quality associated with the organisation identified in the Shaping Your Future section. (2.3)
A harmonized management approach towards planning and controlling the various activities within the organization ensure attainment of the objectives set. Hence, the inculcation of proper planning and control policies, ERA agents may accomplish the following operational strategies;
Sustaining continuity in improvement of the various production processes of goods and services
Consistent research and development into various approaches to customer service
Proper sourcing of raw materials from quality oriented suppliers
Ensuring a human resource that is aligned to business objectives
Q.7 Recognize the Project Planning model/tools and discuss how you utilize one of these techniques either (I) Project Evaluation & Review Techniques (PERT) or (ii) Critical Path Analysis (CPA) to monitor and control the entire project operation of the organisation identified in the Shaping Your Future section. (2.4)
Business operations depend on effective management. Thus, from the analysis of the case questions, it is imperative that plausible strategies are implemented. The resultant critical path as aforesaid determines a more holistic outlook of the diverse activities and how they are interrelated towards the accomplishment of the goals set.
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Q. 8 Select at least two quality systems and explain the application of these systems in managing and monitoring quality standards within the organisation identified in the Shaping Your Future section. (3.1)
Business approaches at ERA agents should focus on:
Determine the most plausible strategy for profitability
Stakeholders are highly concerned with the profitability of the organization to determine the going concern of the organization. Most specifically, the shareholders at ERA are concerned with the profitability and revenue yield within the organization (Hornby, 2011, pg78). Thus, towards suiting the shareholder wealth maximization requirement, it is imperative that ERA agents invest into the most plausible strategy to meet the shareholder needs.
Sustenance of alignment to the legal and regulatory environment
Stakeholder analysis lays forth a proper comprehension of the diverse legal and regulations that the organization has to comfort within the business environment. As such, through the analysis of the customers, suppliers and shareholders, comprehension of the evident legal aspects in US is bound to ensure. Conformity to the regulations that determine stakeholder relationship leads to reduction in the prospect of litigation for ERA agents in US (Hornby 2011).
Q.9 Explain the ‘Total Quality Management (TQM)’ philosophy by stating how this TQM philosophy can be used to increase quality and efficiency which creates a quality culture of improvement in relation to the organization identified in the Shaping Your Future section. (3.2)
For business to thrive and sustain a plausible market image regarding its products and services, it is imperative that quality is sustained. Cooke (2012 p42-89) ascertains that ERA real estate agents can sustain quality service and product delivery through proper alteration of the production process or effective sourcing of raw materials. In most circumstances, production process that has state of the art infrastructure, quality inputs and skilled employees ensures that efficient and high quality products and services. Nonetheless, the inculcation of a highly efficient production process results into high costs. The increased costs emanate from;
Purchase of state of the art production infrastructure
Maintenance of production infrastructure
Payment of the skilled labor
Payment of supervisors to oversee the employees
Thus, from the evaluation of the above costs, in many organizations, the costs have a detrimental effect on the operational aspects. As such an organization has to make proper decisions that ensure parity prevails between minimization of the costs evidenced and maximization of quality within a profit oriented approach.
Q. 10 Recommend improvements which align the organisation identified in the Shaping Your Future section and its objectives and goals. (3.3)
Cost effectiveness is an imperative factor within ERA real estate agents. It is pivotal towards sustaining relevancy within the cutthroat industry of operation in which price extensively determines demand and supply. Reduced price points attract demand thus, it is imperative for operational managers at ERA real estate agents reduce costs of production to ensure cost effectiveness and sustain low price points.
Kolli (2013 p29-104) asserts that quality entails the inherent features of a product or service at ERA real estate agents. Quality entails the intrinsic value of a given product that emanates from its capability to serve the purpose within the expectations at ERA real estate agents. Operations managers across ERA real estate agents should be directed towards offering quality output through quality raw materials and proper production infrastructure.
Speed in production and provision of goods and services;
Speed sustains conformity to the economies of time and efficacy. Kolli (2013 p29-104) asserts that there should be enough time within the production process to sustain proper evaluation of the contingencies that emanate. Production phases have to be aligned to take the shortest time to ensure faster delivery to the prospective clients.
Flexibility in operations:
Flexibility plays a pivotal role since it denotes that the company can handle the unplanned contingencies within an efficient manner. As such, flexibility generates a manner in which production process is extensively mature (Collier & Evans 2011 p82-174). Operational managers at ERA real estate agents should flexibility in production infrastructure and employees to sustain performance within all economic cycles.
Dependability entails an organizational capability in honoring its obligations. Hence, consumer dependability, in reference to ERA real estate agents, emanates through meeting orders on time whether in normal or specified cash obligations.
Q. 11 Report on the wider implications of proposed changes within within the organisation identified in the Shaping Your Future section. (3.4)
A harmonized management approach towards planning and controlling the various activities within the organization ensure attainment of the objectives set. Hence, the inculcation of proper planning and control policies, WH Smith may accomplish the following operational outcomes;
Formidable supply chain
Operational outcomes emanate from plans clearly stipulated on how the performance approach within an organization will prevail. Hence, the formation of formidable relationships with suppliers who share equal performance oriented plans form an effective approach to undertake (Collier & Evans 2011 p82-174). Through effective planning and enhanced transparency in operations with the diverse suppliers, ERA real estate agents are bound to perform effectively in its supply chain logistics.
Better product and service provision
Encompassing planning and control at ERA real estate agents is extensively important in the service delivery. Kolli (2013 p29-104) asserts that the enhancement in the planning and control aspects, a more dynamic and efficient manner in provision of services is bound to prevail.
Q. 11 carry out risk assessments as required by legislation, regulation and organisational requirements, ensuring appropriate action is taken in the context of the organisation identified in the Shaping Your Future section. (4.1)
Specify in regards to targets and timescale is crucial at ERA agents to ensure comprehension and highly performing employees. Thus, from the analysis of ERA agents, it is imperative that proper dictation of the targets and timescales are set.
Maintain a 10% market share on the online market in the first month. A 10% market share will heighten the completion and ensure profitable outcomes
Set up 3 warehouses in various strategic locations in US. Through the strategically placed warehouses, the business will manage to conveniently offer the available goods and services
The investment into the online business approach requires proper periods of monitoring and examination of its profitability. A short term dictation is advisable for the business to ensure a more comprehensive outlook. Thus, from the evaluation of ERA, a timescale of 1 month is imperative to evaluate the customer traffic within its website (Hornby, 2011, p90-107).
Q. 12 Demonstrate how health and safety regulations and legislation applicable in specific work situations are correctly and effectively applied to the organisation identified in the Shaping Your Future. (4.2)
Business operations are dependent on the strategies implemented or formulated. As such, from the evaluation of ERA agents, it is advisable that it invests highly into the online approach to ensure profitability and enhance its market presence in US and other markets. The online business approach is bound to mitigate the various shortfalls of the business and increase the organizational profitability. The organisation should invest into plausible comprehension of the operational mandate pertaining to the health and safety regulations. Health and safety dynamics denote the investment into data mining. Data mining is bound to catapult the performance prospects of the organisation.
Q. 13 Review the health and safety policy and procedures of the organisation identified in the Shaping Your Future section in a systematic manner in order to ensure they are effective and compliant with legislation. (4.3)
Health and safety procedures denote effective management. Thus, from the evaluation of ERA agents, the most effective operational approaches denote the use of:
Human resources entail the skilled, semi-skilled and unskilled employees that an organization requires. Thus, from the analysis of the online business approach at ERA, it is imperative that it incorporates skilled personnel. The skilled personnel are important and crucial since they are bound to generate a highly customer focused website. Customer centric website should be highly optimized to necessitate easier purchase and review of the products and services at ERA (Hornby, 2011, p67).
Finance is highly imperative towards the investment into the online approach at ERA. Apart from the remuneration of employees towards website optimization, it is imperative that finances are assigned to the various internet service providers (Hornby, 2011, pg 67). Moreover, the employment of more personnel towards delivery of goods and services is imperative as a financial investment.
Q. 14 carry out practical application of health and safety policies and procedures for the organisation identified in the Shaping Your Future section. (4.4)
Intensive investment into online business
ERA agents have maintained a leadership role within the online business mandate. The online business approach at ERA agents has been the business to consumer (B2C) approach towards sale of goods and services to its customers via the internet. Thus, from the evaluation of ERA, it is highly advisable that the organization invests into the online approach to catapult its market share in US and implement plausible health and safety policies (Dawes 2012, p89-106). The inculcation of the B2C strategy at ERA agents is bound to ensure an easier environment for the convenient loyal customers at ERA agents towards accessing the goods and services sold and ensure conformity to the health and safety policies.
Business operations are dependent on the strategies implemented or formulated. As such, from the evaluation of ERA agents, it is advisable that it invests highly into the online approach to ensure profitability and enhance its market presence in US and other markets. The online business approach is bound to mitigate the various shortfalls of the business and increase the organizational profitability.
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