...Creating the Project Budget Introduction Consider the statement: Projects do not happen in a vacuum. This certainly is a truism. However, in our previous book, The Essentials of Strategic Project Management, we pointed out that many companies consider projects and project management as if they exist in a vacuum. 1 Companies often tell us: “We need project management training.” The attitude conveyed by that statement shows that projects and project management are considered to exist in a vacuum. Any company can improve the manner in which projects are executed to become more efficient. However, no matter how efficient a project team may be, if the project being executed is not in alignment with the company’s financial goals and strategy, there is a limit to how the company will profit from the project. A project’s budget must be based on the company’s strategy and financial goals. These goals are reflected by the company’s budget, which may be represented by a number of different documents, including pro forma or projected revenue and expense, cash flow, and balance sheets. The project budget that is based on the company’s financial planning has a much greater chance of contributing to the company’s success. In this chapter, we will first look at the process of creating a company’s operating budget. Later we will move on to project budgets and how they relate to the company’s operating budget. To create the company’s operating budget, we must bring together and synthesize...
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...Indeed, we are living in a fast-paced society. People want things now or never. So companies are investing a great deal in research in order to be number one in the market. The one who innovates first tends to be the leader in its niche. AT&T is one of the greatest telecommunication companies in the world – getting a big chunk of the United States market in the telecommunication sector. Let’s summarize, a little bit, about this giant in telecommunications. What makes this company one of the largest companies in telecommunications is creating value by promoting internal and external innovation, strategic focus, and investing in technology. In order for a company to achieve innovation, strategic focus, and investment in technology, it is first necessary for CEO’s to inculcate its vision and mission statement into the minds of the employees from the upper management level to the lowest management level. Once the companies embrace the vision and mission statements, working in synergy, the business journey becomes exciting and smooth despite the challenges ahead. Mission and vision statements are very important, but only as important as the leadership emphasizes it. One of AT&T’s key leaders was Stevenson, a man of vision who set up goals for how people would view AT&T as the leader in...
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... the company would need to determine what would be the various levels of support it would provide to its customers. For example, would the company take its equipment directly to the consumers for demonstrations and lessons on how to gain the optimal results with the equipment? All of these types of decisions would be the result of the organization developing a strategy for how it will conduct its business. All of this translates into Strategic Management with the intended result of gaining a competitive advantage in a business niche. Very simply, developing a Strategic Management Plan means having defined what is the best set of results the organization can attain or what the organization wishes to accomplish (from the Vision and Mission Statements), developing the ways to accomplish these results (Strategies), and measurable factors (Goals and Objectives). All of this is in context of good business practices (ethics) and making good business decisions. A vibrant organization knows that Strategic Management requires: * Planning by completing the...
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...inspires people to take action to save the earth. This documentary centers on Al Gore, and his campaign to make global warming a recognized problem worldwide. Gore combines objective scientific evidence, humor and personal insights to create a powerful exploration of what he clearly believes is the most critical issue of this or any other time in human history. The beginning of the documentary introduces Al Gore’s presentation on climate change, which consists of a research based on historical data and scientific studies that certify the existing danger of global warming. As a way of steering its audience’s attention on this subject, Gore exposes several impressive images of the Earth; photographs that were taken during important space missions. In addition to this, the Planet’s beauty and fragility is revealed and the former vice president claims that these photographs have provided people with a different perspective regarding the issue of preserving the nature by developing an environmental oriented behavior. Moreover, throughout the film, one can notice glimpses of political philosophy, as well as reflections from Gore’s childhood and excerpts that represented major periods of challenge and change from his life. I consider these glimpses as being relevant evidences of Gore’s commitment and dedication towards the issue of protecting the environment. As the documentary unfolds towards the end, the former Vice President points out the importance that appropriate actions...
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...its performance and relation to its customers. A vision is one of the most critical things that an organization can have, it gives life to it, it drives and powers it. I take Bill Hybels perspective on vision, mission, purpose, and all the other synonyms for it. They are all essentially the same thing and the main goal when communicating this "thing" is that people get the main thing. When a leader is casting vision publicly the goal is to help people, know, understand, and remember the "main thing" (Hybels 45). Regardless, this is mostly for public communications of this "main thing" and there are differences between mission, vision, and strategy. A vision is what the organization is aiming towards, who it wants to affect. As Bill Hybels says, vision moves people into action, increases ownership, provides purpose, and more. The importance of vision cannot be overstated. A mission statement is very similar, just depending on who is asked. "The universal mission statement is intended to serve leaders of organizations as an expression of their vision and sense of stewardship. It attempts to encompass, in one brief sentence, the core values of the organization; it creates a context that gives meaning, direction, and coherence to everything else" (Covey 295). So, a mission and a vision are very similar. I would say that a strategy is a detailed plan to obtain and reach the vision and strategy. Bill Hybels gives "three Cs" for choosing and evaluating potential team members. These...
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...2/3/2013 2/3/2013 Melanie stoddard Week 4 Melanie stoddard Week 4 Market Products Melanie Stoddard Market Products Melanie Stoddard It’s not easy opening up a business but it takes a brave person to take the risk in their life. Sometimes in life in order to move forward you have to believe in yourself and take risks. Renea Fab Make up company will offer natural makeup for different skin types around the world. The business will be global. We will not only offer make up but also hair care products under the company as well. Having primary characteristics in a business is important. Now let’s start to discuss the 7 characteristics of my business. Mission and Values, almost every company has a mission statement that guides its actions. This mission statement must permeate your entire organization and be the basis of all that you do. Quality is the most important product in any business. What your company values is important and must be demonstrated every day. Customer look for business who take pride in their company values. If you value your employees, then your actions and policies should back this up. Shared values are strong motivators and can easily distinguish you from your competition. Language and Customs, a company's culture is often defined by its language and customs. Your company most likely has many sayings, expressions and acronyms that only your people understand. These sayings probably started when your company began and can range from the commonly heard...
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...y 1995, this SBU merged many of its services and furthered its focus on production of scientific machinery and instrumentation. The General Manager of this company has a bright vision on future, which he proved by trying his hand in production of new and innovative products. The marketing and pricing decision making environment of the company was mainly centralized but the General Manger also encouraged creativity by flexible working environment with in the company. First of all let's see what strategy is and why it is important? Basics of Strategy: Strategy decisions are different from other decisions taken for the company. They are distinguished on three levels; Scale: A strategic decision covers the whole circle. Strategy decisions are big decisions and concerns competitors, suppliers as well as customers. Time-span: These decisions mostly impact the medium term and long term objectives of the company although there out come can also be seen in short term. Dedication: This means resources commitment and investment that cannot be undone simply. This is done in the marketing of the company, operation changing etc. (Haberberg A. and Rieple, A. 2008) A company's strategy refers to the when, how and why of its existence and working. It basically entails the efforts that the company's management put in to achieve its objectives that pertains to selection of type of clientele, market situation and market form, what competitive advantage to follow and how to perform...
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...example, at our global success in eradicating small pox, or how far we have come since the 1950s in the United States towards reaching racial and gender equality. As Henry David Thoreau said over a century ago, "If you have built castles in the air, your work need not be lost; there is where they should be. Now, put foundations under them." Building foundations for your community dreams is what VMOSA, the strategic planning process that is the focus of this chapter, is all about. It's about groups of people deciding together what they want to accomplish, and how they are going to get there. What is VMOSA? One way to make that journey is through strategic planning, the process by which a group defines its own "VMOSA;" that is, its Vision, Mission, Objectives, Strategies, and Action Plans. VMOSA is a practical planning process that can be used by any community organization or initiative. This comprehensive planning tool can help your organization by providing a blueprint for moving from dreams to actions to positive outcomes for your community. In this section, we will give a general overview of the process, and touch briefly on each of the individual parts. In Examples, we'll show you how an initiative to prevent adolescent pregnancy used the VMOSA process effectively. Then, in Tools, we offer you a possible...
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...AirAsia Case Study Abstract—This paper focuses on the company AirAsia. We will be talking about their strategy through out this paper and will also discuss their position in the global market. AirAsia’s strategy is to become the largest low cost airline in Asia; however, their coverage stays within south east Asia, which with our consultation and data presented in this paper we can analyze and seek a path towards a much larger coverage and becoming the leading largest low cost airline in the world. For the sake of this paper, we will be focusing on AiAsia’s partnership with Emirates in the middle east region. Keywords—AirAsia; Strategy; Sustainable Growth; Low-cost Airline; Alliance; Global Market Analysis; Introduction AirAsia, a successful global company based in Malaysia has been transporting people in Asian for over 15 years. The company is however thinking about expanding their coverage through out all Asia; currently they are covering and more focusing in East and Southeast Asia. Analyzing AirAsia’s strategy will help us understand any trends that is either helping them or decreasing their growth, hence, with proper recommendations we would be able to help AirAsia achieve its goal: Becoming the largest low-cost carrier in Asia. Having that said, by looking the global market and the growth rate of AirAsia; the company will be able to become the world’s largest low-cost carrier instead of only Asia. This requires the company to make a few smart modifications...
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...Introduction Strategy one, in review of CanGo’s requirements, has spent the previous two weeks in discussions to learn and discover the business and needs of CanGo operations. During this period, Strategy One has identified areas that present specific operations issues and has made recommendations for each of these areas below. The issues discovered and discussed are strategic planning, organization, finance, project management, a project team, and project resource allocation and are presented in the information below with recommended resolutions. Week 1 Issues Issue #1 The first issue identified by Strategy One is in the area of strategic planning. CanGo has been a successful company to date by being a trail blazer and leader in the online retail resource vertical. In order for CanGo to continue its success, remain a leader and expand its offerings, strategic planning must be implemented in the management of the company. “The strategic management process is made up of four elements: situation analysis, strategy formulation, strategy implementation, and strategy evaluation. These elements are steps that are performed, in order, when developing a new strategic management plan. Existing businesses that have already developed a strategic management plan will revisit these steps as the need arises, in order to make necessary changes and improvements.” (Bushman, 2007) There is an admitted lack of planning in the current organization. By documenting the trending...
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...Seven Steps to a Successful Business Plan This Page Intentionally Left Blank Seven Steps to a Successful Business Plan Al Coke American Management Association New York • Atlanta • Brussels • Buenos Aires • Chicago • London • Mexico City San Francisco • Shanghai • Tokyo • Toronto • Washington, D.C. Special discounts on bulk quantities of AMACOM books are available to corporations, professional associations, and other organizations. For details, contact Special Sales Department, AMACOM, a division of American Management Association, 1601 Broadway, New York, NY 10019. Tel.: 212-903-8316. Fax: 212-903-8083. Web site: www. amacombooks.org This publication is designed to provide accurate and authoritative information in regard to the subject matter covered. It is sold with the understanding that the publisher is not engaged in rendering legal, accounting, or other professional service. If legal advice or other expert assistance is required, the services of a competent professional person should be sought. Library of Congress Cataloging-in-Publication Data Coke, Al. Seven steps to a successful business plan / Al Coke. p. cm. Includes bibliographical references and index. ISBN 0-8144-0648-3 1. Business planning. 2. Strategic planning. 3. Success in business. I. Title. HD30.28 .C6422 2001 658.4'012—dc21 2001033579 ©2002 Alfred M. Coke All rights reserved. Printed in the United States of America. This publication may not be reproduced, stored in a retrieval system...
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...be more streamlined. We have changed Presidents and Executive officials. All these changes have been completed with minimal loss and structure change. We have some very important statements that our leaders follow by. We are four brands that have become one utility. With Integrity, create superior shareholder value by expanding upon our existing expertise to be the supplier of choice in all of our markets while being a safe and great place to work. While utilizing existing expertise, safely provide value added products and services that exceed customer expectations. There is a lot of positive direction in those two statements. Our leadership is driven to provide the best and safest products that we can. When the company first started its merger in 2008, there were several changes announced in a short period of time. Some of these changes were people losing their jobs and others were department restructuring. The people involved in either change had some important movements coming their way. The company was merging over an eight state area, making the option of relocation or department movement a little more difficult. This related to “Who moved my cheese” explains the empty cheese location. These people would no longer have their jobs and had to make the decision to accept the change and move on. When thinking of leadership, this change that was about to happen to...
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...Eurasia, Africa, Europe, Latin America, North America, and the Pacific Group. Selling products from diet and regular sparkling beverages to still beverages such as 100 percent fruit juices and fruit drinks, water, sports and energy drinks, teas and coffees, and milk and soy based beverages; selling 1.7 billion servings per day across the world. Coca Cola’s mission statement, "Our commitment is to provide products and services that meet the beverage and business needs of our customers and consumers. In doing so, we provide sound and rewarding business opportunities and benefits for customers, suppliers, distributors and communities. " PepsiCo was founded in 1898. It is home to hundreds of brands around the globe Pepsi-Cola, Frito-Lay, Gatorade, Tropic, and Quaker Brands. Pepsi’s mission is to be the world’s leading consumer convenient foods and beverage product company; seeking to yield financial rewards to their investors, providing prospects for growth and development to their employees, business partners and the communities which they operate, and striving for honesty, fairness and integrity. Pepsi’s main mission statement, “PepsiCo’s responsibility is to continually improve all aspects of the world in which we operate-environment, social, economic-creating a better tomorrow than today.” PepsiCo’s food and snack business is located in North and South America. PepsiCo Europe being the region’s leading food and beverage company; spanning from Russia West to Portugal, and Turkey...
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...provide better opportunities? General Purpose: To persuade Specific Purpose: To persuade my audience that studying abroad provides better opportunities. Central Idea/ Thesis Statement: Studying abroad can provide better opportunities because it can yield academic benefits, provide social and cultural benefits and enhance employment opportunities. Organizational Pattern: Problem-Solution I INTRODUCTION (Problem) A. Attention Getter: Have you ever dreams of studying overseas, mix with other people from the other countries from all over the world? I am sure all of you want to study abroad but don’t have that opportunity. Well, what makes a difference between students studying abroad and students studying at local universities? Nowadays, a difference we can see are employment opportunities for student studying abroad is higher compared to employment opportunities for students from local universities. B. Tie to the audience/reason to listen: Students like us will graduate a few years more, and during that time we will find that it is not easy to seek for a job. Today’s job market for graduating students is extremely competitive. You’re not only competing for jobs with students from your university or your country but you’re competing with students from across the world. C. Credibility Statement: Once students complete their education abroad, they’ll possibly have very high profiled jobs in well known organizations. Based on a JobStreet.com survey conducted in Malaysia involving...
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...Megaliving – The Idea in Brief Good evening everyone, Today I am here to give a presentation on megaliving- how to lead a perfect life. Let’s make this an interactive session. So, hers a question I invite you to consider on. How many of you out here think that you are leading a perfect life? Or before this can any one of you describe what a perfect life is? Before answering this question, let’s do an exercise, Everyone shut your eyes, take two deep breaths and picture this scene taking place many years into the future: you are in an elegant dining hall, surrounded by those closest to you (who are dressed beautifully, looking their best). The candles shimmer on every table and the importance of the evening wafts through the air like the aromas from the kitchen. This is your testimonial dinner, an opportunity for the people who know you best to speak about you as a person, your achievements and your contributions to those you love and to society in general. Just for a moment, reflect on what you would like them to say. This reflection my friends; is the perfect life you want for yourself. And how many of us are actually living our perfect life..? There are two competing schools of thought. One says go out there live your dream, be the best, play at your highest potential. And the other says that the purpose of life is to simply enjoy the journey, simply be happy, and live in the moment. When you think about these two schools, you realize that both are equally important...
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