Businesses require a tool to measure the execution of objectives. As far as the goals of objectives they are supposed to align with a stated vision and mission. Effective objectives ensure that daily activities align with the big picture or if there will be a need to adjust redirect focus. A balanced scorecard is a tool, generated by Robert S. Kaplan and David P. Norton. Authors Pearce and Robinson (2009) suggest, a balanced scorecard “Is a set of measures that are directly linked to the company’s strategy,” “Directs a company to link its own long-term strategy with tangible goals and actions,” and “Provides a framework to translate a strategy into operational terms” (p. 202).
This paper will describe how a company conducts a SWOTT analysis. The internal and external analysis of Scents & Things in relation to the organizations forces and trends such as; Economic, Technological, Strategy, Legal/Regulatory, Innovation, Structure, Resources, and Culture. This paper will also classify one primary strength, weakness, opportunity, threat and trend if possible for each of the factors. Following the end of this paper, a SWOTT Analysis Table will sum up the findings of the forces and factors relative to Scents & Things. SWOTT Analysis For Scents & Things to perform a SWOTT Analysis, the company has to answer the following questions about the company’s strengths; the advantages, resources, strengths in the market, and what does the organization do better than the competition.
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.
Chapter 6 Business Continuity Planning and Disaster Recovery Planning Chapter Objectives After reading this chapter and completing the exercises, you will be able to do the following: ■ ■ ■ ■ ■ ■ ■ ■ Distinguish between the business continuity plan (BCP) and the disaster recovery plan (DRP). Follow the steps in the BCP. Inform business executives why planning is important. Define the scope of the business continuity plan. Identify types of disruptive events.
“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
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
Why consider an organization’s approach to IM/IT resources and services as an exercise in portfolio management? •forces you to relate specific IT investments with the associated business need(s) and value propositions •provides a framework and standardized lens for the assessment of all IM/IT investments as well as measures for valuing those investments •focuses on a methodology for the valuation of IM/IT projects that connects well with the understandings of enterprise business leaders and IT governance •allows for year to year measurement of changes in IM/IT investments versus the impact (attributed results generated) by those investments •allows for qualitative if not quantitative comparisons between various IM/IT investments pursued by business units within the same enterprise and conceivable between competing businesses within the same industry How does an IM/IT portfolio management methodology help to serve the needs of the greater organization and facilitate a better appreciation by the business of its IM/IT products and services? •the organization has the following information resource management needs: • o to transact o to manage, control, make tactical decisions o to innovate, transform, increase its strategic competitiveness o control costs and improve overall performance •the portfolio model tracks and measures IM/IT project and service value and performance in the very manner that the business thinks of and measures value in these and any other corporate investments; aligning the description of and thinking about IM and IT investments in this manner allows for a common basis for understanding •IT transactional value is all about cutting operational costs and/or improving the efficiency of existing operations. •IT informational value is all about enabling management, control, and decision making. •IT strategic value is all
SWOT Analysis Complete the following SWOT analysis for your company: Strengths * Describe your company’s internal resources and capabilities that can be used to establish a competitive advantage and reach your objectives Weaknesses * List the factors that may interfere with the company’s ability to achieve its objectives Opportunities * In looking at the external environmental, identify opportunities of buyer need or potential interest which may indicate opportunities for growth and profit Threats * Look at changes in the external environment that may pose a challenge or lead to lower sales or profits Corporate Social Responsibility What steps will your company take to make sure it is acting responsibly towards the community, employees, customers and the planet? Marketing Overview – Part 3 Marketing mix (the 4 P’s) decisions identify the product/service offerings, pricing strategy, distribution (place) strategy and promotional activities that will achieve the business goals. Create a marketing mix that will achieve your business goals and create a competitive advantage. Target
Week Five OPS/571 Week Five Learning Team Reflection The purpose of this paper is for the team to discuss and define total quality management (TQM) and International Organization for Standardization (ISO). As a team, we will collaborate and discuss the following: • Pros and cons of TQM and ISO. • The various ways that TQM and ISO can be beneficial to an organization. • The role of a quality control department in connection to TQM or ISO. Total Quality Management is an all-inclusive tactic towards organizational management looking to enhance the quality of products and services through continuous improvements in reaction to feedback.
The information collected from the survey helps HR: • Improve satisfaction by identifying current strengths and needed improvements in the programs, plans, and services relevant to managers. • Improve management understanding and effectiveness of targeted current programs, plans and services. Overview Presentation - September 2010 – Last Updated 9/16/2010 2 BACKGROUND Objectives: Identify service strengths and areas for improvement Last HR Service Survey: 2005 Survey Focus: Faculty & staff with management responsibilities Total Distribution: 476 management employees (faculty & staff) Response: 143 – 30% Response Rate When: Spring 2010 Overview Presentation - September 2010 Overall HR Results by Unit All Satisfaction Survey Items Aggregated into Composite by Unit Mean (Scale 1-5) PRES PROVOST EVP Benefits Compensation Staffing Employee Relations Workplace Learning & Performance 3.48 3.35 3.45 3.56 3.91 2.93 2.80 3.54 3.21 3.14 3.56 3.20 3.21 3.29 3.83 3.96 3.76 3.81 4.08 4.11 Satisfaction levels vary by executive area with the highest scores reported by the EVP area and the lowest scores reported in the President’s area. Scale = 1-5, with 5 being very satisfied Overview Presentation – September 2010 Overall Positive Trend Since 2005 in Many Areas HR SERVICE SURVEY 2010 • • • • • • • Customer Service Benefits Info on HR Website Clarity of Leave Policies Position Evaluation Process Annual Salary Planning Clarity of Comp Policies Time to Fill New Positions OIPR STAFF SATISFACTION SURVEY (2009) • Professional Development Opportunities • Staff Development •