Kerry Ogden Unit 1 1.1 Explain the use of benchmarks in managing performance Benchmarking is the process of comparing one's business processes and performance metrics to industry bests or best practices from other companies. Benchmarking is used to measure performance using a specific indicator resulting in a metric of performance that is then compared to others. 1.2 Explain a range of quality management techniques to manage team performance There are a large number of techniques that can be used to manage quality. A few examples include Customer surveys Performance measures and standards. Benchmarking Process analysis and re-engineering Continuous improvement Employee involvement People development
Introduction Upon reading this chapter, you may feel like you are preparing for a project management role rather than an information security role, but you’ll soon see that the interests of those who manage the business and those who safeguard it are intertwined. This chapter, more so than any of the other domains of the Common Body of Knowledge, deals with business management concerns: how to prepare for an emergency or calamity and how to respond and continue operations under suboptimal business conditions. 123 Information Security: Principles and Practices, by Mark S. Merkow, CISSP, CISM and Jim Breithaupt. Published by Prentice Hall. Copyright © 2006 by Pearson Education, Inc. ISBN: 0-558-86622-0 124 CHAPTER 6 | Business Continuity Planning and Disaster Recovery Planning In this chapter, you will learn about the goals of sound business continuity planning and disaster recovery planning, how these two types of planning differ, the types of threats that could invoke emergency planning and procedures, and several of the more prominent techniques organizations are using to plan for and hopefully prevent a disruption in business activities.
“SWOT analysis is a strategic planning method used to evaluate the Strengths, Weaknesses, Opportunities, and Threats involved in a project or in a business venture. It involves specifying the objective of the business venture or project and identifying the internal and external factors that are favorable and unfavorable to achieve that objective.” (Buchbinder & Shanks, 2011). Strengths: characteristics of the business, or project team that give it an advantage over others. Weaknesses: are characteristics
4. Is ECCO following the inside-out or outside-in strategic perspective? What are the implications of this choice and how can ECCO increase their sales/marketing efforts? * Inside-out strategy: which is an internal oriented strategy. This strategy emphasizes the company’s ability to utilize its existing internal resources and focuses on streamlining operation through proper sizing and cost reduction.
Influences on operations management have multiple effects on businesses. An understanding of external influences can help a business be able to manage and respond to them efficiently by implementing various strategies which can make a business successful. Influences on operations management include Globalisation, quality expectations, cost-based competition, technology, government policies, legal regulations and environmental sustainability. Globalisation refers to the removal of trade barriers between nations, and is defined as the integration and interdependence of national economies forming a global economy. Apple recognised early advantages of globalisation and implemented various strategies to expand internationally which results in wide range of their stores all over the world now.
These indicators go beyond financial statement figures, such as sales and net income, to include measures tailored to the client and its objectives. Such key performance indicators may include market share, sales per employee, unit sales growth, unique visitors to a Web site, same-store sales, sales by country, and sales per square foot for a retailer. ASSESS CLIENT BUSINESS RISK The risk that the client will fail to achieve its objectives related to (1) reliability of financial reporting, (2) effectiveness and efficiency of operations, and (3) compliance with laws and regulations PERFORM PRELIMINARY ANALYTICAL PROCEDURES a. Auditors perform preliminary analytical procedures to better understand the client’s business and to assess client business risk. One such procedure compares client ratios to industry or competitor benchmarks to provide an indication of the company’s performance.
Business Strategy Planning Business Strategy Planning | Questions | Page | P1 | Explain strategic contexts and terminology- mission, vision, objects, goal, core competencies. | 02 | P2 | Review the issues involved in strategic planning | 03 | P3 | Explain Different Planning Techniques. | 03 | P4 | Produce an organizational audit for a given organization. | 04 | P5 | Perform associate environmental audit for a given organization. | 05 | P6 | Justify the Importance of Stakeholder Analysis.
What are the characteristics which help differentiate projects from other functions carried out in the daily operations of the organization? What are some of the business and other developments that have increased the importance of effective project management? Why is the implementation of projects important to strategic planning in business organizations? Question 2. What is meant by an integrative approach to project management?
Unit 1: Business Environment ASSESSMENT: 1 ASSESSOR: MR.RAZA SUBMITTED BY: BMM TAMJID OXF 0081 TABLE OF CONTENT page LO1: 1.1 Identify the purposes of different types of organization 1.2 Describe the extent to which an organization meets the objectives of different stakeholders 1.3 Explain the responsibilities of an organization and strategies employed to meet them LO2: 2.1 Explain how economic systems attempt to allocate resources effectively 2.2 Assess the impact of fiscal and monetary policy on business organizations and their activities 2.3 evaluate the impact of competition policy and other regulatory mechanisms on the activities of a selected organization. LO3: 3.1 Explain how market structures determine the pricing and output decisions of businesses 3.2 Illustrate the way in which market forces shape organizational responses using a range of examples 3.3 Judge how the business and cultural environments shape the behaviour of a selected organization. LO4: 4.1 Discuss the significance of international trade to UK business organizations 4.2 Analyze the impact of global factors on UK business organizations 4.3 Evaluate the impact of policies of the European Union on UK business organizations. UNIT: 1 INTRODUCTION: The term Business Environment is composed of two words ‘Business’ and ‘Environment’. In simple terms, the state in which a person remains busy is known as Business.
TOOLS FOR ANALYSIS 1. Levels of Strategy – Strategies can be found at two (2) levels: corporate strategies (found at whole organization) and business unit strategies (found at business units within the organization). 1. Corporate level strategy – This pertains to right mix of business particularly where and how to compete in particular industry. At this level, the most significant dimension along with the strategy is the extent and type of diversification undertaken by different firms.