BUSINESS MANAGEMENT ASSIGNMENT



Business Management Assignment

PART 1

ANSWER #1:

Traditional organizations are the ones who clearly defines a boundary between management and employees where management seen as to be at the top of hierarchy and have control over decision-making power. Role of strategies and planning is clear cut that in this type of organization there is no proper connection between different functions of organization as there is communication gap, strategies should be made clear cut so that all obeys boss viewpoints.

There are situations that managers are on some other views and employees are having their own views. Therefore, in this instance it is necessity requirement to develop such plans and strategies that ensure alignment between managers and employees and among different operations.

ANSWER#2:

According to Bill Richardson, Project managers need to be aware of strategic planning which includes:

Goal Setting: Before going for building strategies it is requisite to set some sort of objectives.

Strategy Development Process: At this stage strategy is develop by analyzing present situation, where to reach in future and how to get there.

Customer Analysis: Here customer evaluation is done to identify their needs and it should be involved as part of management.

Internal Business Analysis: Internal auditors review and monitor financial reviews and internal control systems

Strategic Choices: Each business strategic choices being made on basis of cost leadership, differentiation or niche player.

Strategic Thinking: It is sort of survey and asking questions to formulate plan and strategies.

Implementing Strategic Decisions: Finally strategies being implemented through balanced scorecard

ANSWER#3:

GANTT CHART

Gantt chart (horizontal bar chart) which developed in 1917 by Henry L. Gantt as a production control tool which is basically regularly used in project management. It is a graphical illustration which compiles all the activities to be done in project and on the basis of that planning is done.

CRITICAL PATH ANALYSIS

Critical Path Analysis is basically a tool which sequence series of events logically for a successful research project in a manner from which route of project can be calculated. Basically it is a tool for analyzing project. Critical Path techniques aids in time management, ongoing date being provided for assessing progress and give decision making information to researcher or program planner.

PROGRAMME EVALUATION AND REVIEW TECHNIQUES

Program Evaluation and Review Technique is a tool used in project management to schedule, organize and link tasks within a project. It is used for analyzing tasks involved in projects, time required for completing each task and minimum time to be take in completing overall project. PERT planning includes:

Identification of specific activities and milestones

Determination of activities sequence

Construction of network diagram

Time estimation for each activity

Determination of Critical path

Regular checking of PERT chart as project progresses

ANSWER#4:

Organizational effectiveness is that individual are doing what they are required to and they are aware of it too and organizational efficiency is to producing desired outcomes with limited uses of energy, time, money, human and material resources. Potential sources of information required to analyze effectiveness and efficiency within organization can be as follows:

Performance Measures Reviews can be checked for organization effectiveness

Good quality and to defects report for ...