...Developing Good Business Sense Beth Ray BUS/210 June 9th, 2013 William Peck Developing Good Business Sense Introduction To develop good business sense there are several factors that need to be taken into consideration. Operations Material Management is the source of the company’s competitive advantage. Then you have to take into account the OMM expenses and how it affects the profitability. Next examine innovative ways to increase productivity and quality while minimizing operational cost. Last look at the material management techniques that can be improved to gain a competitive advantage. Find ways to use company resources to deliver the goods and services more quickly to the customers. I will compare three different businesses and their OMM, job task, input and output, job organization and each competitive advantage. Developing Good Business Sense McDonald’s Mission statement speaks volumes, “Be the best quick fast food service restaurant experience by providing quality service cleanliness and value that make every customer in every restaurant smile.” This is what makes their Operations and Material Management Process so successful. There are six McDonald in my area...
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...Running head: DEVELOPING A STRATEGIC BUSINESS PLAN DEVELOPING A STRATEGIC BUSINESS PLAN Student Name: Tutor’s Name: Submission date: Developing a Strategic Business Plan A strategic business plan is a tool developed in preparation for establishment of a new business ventures and additionally, in improving business operations. Kolter (2009) stresses the importance of this tool as a prerequisite to business modeling. However, it is likewise important to understand what constitutes a strategic business plan before attempting to develop one. A strategic business plan takes into consideration all the variables that affect business performance. This includes internal and external variables. Kaye (2007) states that a strategic business plan must incorporate all the likely variables regardless of the magnitude of effect associated with them. An effective strategic business plan can be defined as one which identifies, analyzes, and draws conclusions with respect to variables that dictate business equilibrium shift. Such a plan is constituted of three important elements, namely: resources available, market scope and business operations (Kolter, 2009). Resources determine how successfully a business operates. This includes financial resources, human resource, and material requirements. Strategic business plans help an entity in determination of staff requirements, financial obligations, and raw materials required in advance making it possible for easy budgeting...
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...Developing an Ethical Business Environment: A Report to Executive Management Introduction Ethics and business rules always go together. The fact that business policing is based upon the different measures of complete recognition of social norms and social limitations, ethics is indeed a large part of the ways by which business organizations try to strive to be able to become more effective within their operational engagements with regards their aim of being able to influence the society as well. It is indeed certain that the rules and regulation that a business puts up should be able to meet certain standards of social compromises. Any business organization could not afford to be questioned simply because of the fact that the business procedures that they are adapting to are not meeting the set standards for business organizations. (Kuhn, 2005, 12) To be able to have a clearer view of the matter being reported herein, it is first most importantly to be given attention to as to how management is indeed in relation with the actual application of ethical standards within the society. To be able to do this, there are three major points to consider. The said points are as follows: • The effect of organizational culture on ethical operation • The roles and responsibilities of executive management in fostering an ethical operating environment • The impact of ethical standards as they are used in business operations Through the consideration given to these particular...
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...1. Choose three companies and observe how employees do their tasks. These can be three different fast-food restaurants or three entirely different types of companies, such as a fast-food restaurant, a department store, or the emergency room of a hospital. Company 1 is a restaurant called Applebee’s®. The employees operate in a retail service type of environment. The employees are service oriented, as they wait upon their customers while they consume the company’s products, which is made to order food stuffs. There are several types of employees that work at Applebee’s®. The hostess greets and seats the customers. The waiters and waitresses take the customers orders, and serve the food after it is prepared, and also bring any amenities that are requested by the customer. The bartender prepares the drinks. The cooks prepare the customers orders. The managers coordinate all of the employee’s efforts to help facilitate an enjoyable experience for the customers. Company 2 is a tire store called Discount Tires®. The employees operate in a retail service type of environment. There are several types of employees that work at Discount Tires®. The desk clerk takes the customer’s order, and coordinates the schedule for the tire technicians to work from. The tire technicians remove old tires from the customer’s vehicles, and replace them with new tires that the customer has purchased. The shop manager coordinates the efforts of the desk clerk and the tire technicians...
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...ENTREPRENEURSHIP AND SMALL BUSINESS A CASE OF A DEVELOPING COUNTRY Abstract This study revolve around the socio-economic structure of entrepreneurship, factors affecting the growth and development of enterprises and problems faced by them. For the purpose of data collection a sample of fifty small scale units was taken and a common schedule of structure questionnaire containing questions of various aspect of entrepreneurship was administered personally to the owner/managing director of each of the units as the case may be. This study is partially exploratory but basically descriptive in nature. From the interpretation and analysis of data collected the result shows that age is not a static phenomenon for entrepreneurship. Those who have less education but have more practical experience and training, enter into the industry early. However, in such cases less education restricts the growth and development of the enterprise. The paper also finds reasons for enterpreneurship, the three was to earn high profits and prosperity. The variables which decide the area of activity or the product line are based on assured market, parental business, experience and revival of the sick unit etc. There are certain irritants that also serve as impediments for the growth of enterprises. For instance competition from small scale units, (28%) financial constraints, high intent ratio and others. Introductionn The prosperity and progress of a nation depends on the quality of its people....
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...DEVELOPING GOOD BUSINESS SENSE NICOLE COLEMAN BUS/210 MARCH 20, 2014 INSTRUCTOR: DR. SHONDRIA WOODS-McAFEE INTRODUCTION Each business has a way that it operates, an operation and materials management (OMM) process, which is unique to each company. It is a way that the company operates. It is the input and output process. I will be going over three different companies and discussing their unique operations and what they entail. (Jones, 2007) The three companies I will be using for my examples are Subway, an Optometrist office, and an Old Navy clothing store. SUBWAY For this company I believe they would use an OMM that was the most beneficial for their particular type of business. For example, their operations include making sandwiches, breads, and cookies. The average customer would spend between $6-15. They need a supplier for their ingredients, and an employee who is capable of mixing ingredients and putting them together. I think of all the three companies I am discussing, their operating costs are the lowest. I think that the main cost for operating this company come from the lease for the building, the ingredients used for their food products, and the employees pay. There would also be smaller operating costs included for things such as bags, napkins, cups, lids, straws, fountain drinks and cleaning products. These operations for this company are much different than the operations for other types of companies. To give Subway a competitive...
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...Developing an Enterprise Business Intelligence Capability: The Norfolk Southern Journey Business intelligence applications are the latest trend in the technology world. These applications not only help in gathering and storing data but also processing and analyzing it to make better informed decisions for its users as individuals and corporate level decisions. The article about the Norfolk Southern journey as a business intelligent firm emphasizes that it might sound easy to implement Business intelligence but in reality it is a prolonged journey of strategic decisions. It starts from understanding the business in depth and looking for areas of improvement with respect to customer service, workforce productivity, managing assets and costs. Norfolk started its journey with the Thoroughbred Operating Plan, to redesign its operations. This plan helped them to optimize inventory management and trip planning using operations research techniques for the new transaction based information systems. The application had a performance dashboard recording the actual and deviations from the train plans. The development of accessNS system helped them improve their customer services. This application allowed customers to access real-time information about shipments online rather than waiting on phone or expecting call backs. The process also involves closely knitting all the departments together to share information and process data that is usable, integrated and structured for making...
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...Developing A Business Plan Overview The importance of planning should never be overlooked. For a business to be successful and profitable, the owners and the managing directors must have a clear understanding of the firm's customers, strengths and competition. They must also have the foresight to plan for future expansion. Whether yours is a new business or an existing business in the process of expanding, money is often an issue. Taking time to create an extensive business plan provides you with insight into your business. This document can serve as a powerful financing proposal. This article will take you through the step-by-step process of developing a business plan. A business plan is very specific to each particular business. However, while each business needs a unique plan, the basic elements are the same in all business plans. To complete an effective business plan you must dedicate time to complete the plan. It requires you to be objective, critical and focused. The finished project is an operating tool to help manage your business and enable you to achieve greater success. The plan also serves as an effective communication tool for financing proposals. At the completion of this exercise, you should be able to: Describe the importance of a business plan Identify the elements of an effective business plan Write a business plan Outline: Why Write a Business Plan? Who Should Write the Business Plan? Business Plan Components ...
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...Developing A Business Plan Overview The importance of planning should never be overlooked. For a business to be successful and profitable, the owners and the managing directors must have a clear understanding of the firm's customers, strengths and competition. They must also have the foresight to plan for future expansion. Whether yours is a new business or an existing business in the process of expanding, money is often an issue. Taking time to create an extensive business plan provides you with insight into your business. This document can serve as a powerful financing proposal. This article will take you through the step-by-step process of developing a business plan. A business plan is very specific to each particular business. However, while each business needs a unique plan, the basic elements are the same in all business plans. To complete an effective business plan you must dedicate time to complete the plan. It requires you to be objective, critical and focused. The finished project is an operating tool to help manage your business and enable you to achieve greater success. The plan also serves as an effective communication tool for financing proposals. At the completion of this exercise, you should be able to: Describe the importance of a business plan Identify the elements of an effective business plan Write a business plan Outline: Why Write a Business Plan? Who Should Write the Business Plan? Business Plan Components Executive Summary The...
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...Developing Business/IT Solutions Systems Analysis and Design (SAD) • Overall process by which IS are designed and implemented within organizations • The process of completing an IS project is known as systems analysis and design (SAD). • Any SAD project involves four essential ingredients: – People - Methodology - Management - Tools • Two most common approaches to Systems Analysis and Design ← Object-oriented analysis and design ← Systems Development Life Cycle Systems Development Lifecycle (SDLC) [pic] [pic] Systems Investigation Stage The Investigation Phase begins the preliminary study of the proposed information system solution to meet the e-business needs. Its focus is to seek to answer the questions: What are our opportunities? What are our business priorities? How can information technologies provide information systems solutions that can be used to address theses needs? Because the process of application development can be costly both in time and resources, the system investigation phase begins with a Feasibility Study. The goal of feasibility studies is to evaluate alternative systems and to propose the most feasible and desirable systems. Feasibility is assessed across four major categories: [pic] Organizational Feasibility: This focuses on how well a proposed information system supports the objectives of the organization. – Specific features...
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...Developing Good Business Sense Developing a good business sense takes is not that difficult of a task to fulfill. It only takes a normal level of common sense, a little determination and a business-like frame of mind to achieve what many do not even dare to attempt. As answered in the questions below, there are many ways in which a business’s strategy and work productivity play on profitability. These examples of operating systems will give you a better idea of what it takes to make it work. The three companies I am chose are all department stores, Wal-mart, Target and Walgreens are all good examples. These three companies all function in very similar ways. They all have the same strategies, cooperative workforce, managers, cashiers, stock employees, warehouse etc. To make this business run efficiently, all of the gears (employees) have to be working together like a well oiled machine. The store manager at the top is focused on creating a productive and profitable work environment for the company and creating a comfortable and pleasure shopping environment for the customer. They are most held accountable for maintaining the stores appearance and overall operations. The next level down is the supervisors and lower level managers. They control the store in smaller increments and are primarily given departments or certain groups of employees. These supervisors are responsible for administering the workload to the departmental employees. The standard level employee the workhorse...
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...Developing Good Business Sense 07/06/2014 BUS 210 The three establishments that I choose for this project were Burger King, Barnes & Noble, and McDonalds. I have paid close attention to how the employees performed their task. I will talk about the kinds of OMM costs companies have and how does this affect their OMM operations. Also, I will be talking about how these companies made their operating systems to give them an advantage over their competitors. The main goal of the operations manager is to make the customers happy and make them want to come back to their establishment. By properly observing and managing their business’s operations, they can see what sells and make sure that those products are available. This cannot happen without operations and materials management; it is a very important to the company. Barnes & Noble is a chain of bookstores that carries thousands of titles. They also offer the largest in-stock selection of in-print book titles for fast, easy, secure ordering and delivery on the internet. They are also in partners at some universities as their primary bookstore. Barnes & Noble OMM has developed an IT system. This IT system is the flexible production that allows mass production at a lower cost. They continually to improve their storefronts to make a better shopping experience for their customers. Materials management helps the stay on top of their business by keeping the books, CDs, and electronics in inventory that customers will...
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...Developing good business sense Joann Stober April 4, 2011 BUS/210 Holly Rick University of Phoenix Developing Good Business Sense Operations and material management is a big deal for most businesses all over the world. In this paper I will answer four questions explaining how operating systems produce goods and services that customers receive when they visit many businesses. The four questions that are asked in the activity on page 394 of the text book are as follows in the text. Choose three companies and observe how employees Do their tasks. These can be three different fast-food restaurants or three entirely different types of companies, such as a fast-food restaurant, a department store, or the emergency room of a hospital. Think about the differences in the operations involved in the input, operations, and output stages of these companies. Try to identify the nature of their operating systems. Are employees organized in different ways? If so, why? If possible, talk to the managers and employees in these operations to further your analysis. What are the main kinds of OMM costs companies have? How does this affect their OMM operations? How do companies design their operating systems to give them a competitive advantage? (Operations and Material Management, chapter 12, 2011) Three Companies For the first question I have chosen three companies McDonald’s, UPS, and Wal-Mart. McDonald’s is a very strict and structured company when it comes to employees...
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...Developing Good Business Sense Week 8 Michele DeLapp 7/7/13 CERTIFICATE OF ORIGINALITY I certify that the attached paper is my original work. I am familiar with and acknowledge my responsibilities, which are part of the University of Phoenix Student Code of Academic Integrity. I affirm that any section of the paper which has been submitted previously is attributed and cited as such, and that this paper has not been submitted by anyone else. I have identified the sources of all information whether quoted verbatim or paraphrased, all images, and all quotations with citations and reference listings. Along with citations and reference listings, I have used quotation marks to identify quotations of fewer than 40 words and have used block indentation for quotations of 40 or more words. Nothing in this assignment violates copyright, trademark, or other intellectual property laws. I further agree that my name typed on the line below is intended to have, and shall have, the same validity as my handwritten signature. Michele DeLapp Developing Good Business Sense Week 8 The three restaurants I chose were McDonalds, Burger King and Phil’s Grill. All three are hamburger chains. All have customer service policies that include the customer come first and to make sure that the customer receives the best service always. Phil’s Grill is a local chain in New Orleans that has excelled at customer service and great food. Their employees create an environment of family friendly service and...
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...Developing Good Business Sense 1 Developing Good Business Sense Axia College of University of Phoenix Developing Good Business Sense 2 The three businesses that I’m choosing are Taco Time, Chevron gas station and, Basalite Concrete Products; Basalite is a block manufacture and sells retail, wholesale and, contractor. They also have a line of tools and real stone and also manufactured stone that they are a dealer for. At Taco Time there is a drive thru person sometimes two taking orders and money, they also fill drink orders and ask for any condiments that the customer may like. The front counter person also takes orders and calls out the number for the orders that are ready. The counter and drive thru persons also clean tables that have been used by the customers. The cooks make the food that have been ordered there other responsibilities would be cleanliness, wearing gloves to ensures that the food is not contaminated and cleaning up when the shift is done. The management would be responsible for making the schedule for all who works there and covering for the people that didn’t make it in for their shift. Then also making sure the employees are getting along and doing the duties they are assigned in a timely manor; the drive thru would probably be essential to get out the food in a timely manor and making sure the order is right. At the end of the...
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