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Posted: May 9th, 2023
Assessment Element 3 – Individual Presentation Apply Operations Principles to Managing a Company
Aim
The aim of this assignment is to apply the concepts and methods learnt in the Enterprise and Business Development module to the operations of a virtual bike manufacturing business. The business scenario is presented below.
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Module Learning Outcomes Assessed
c) Understand the role of operations management within enterprise.
d) Demonstrate the use of core operations management theory in the context of enterprise development.
f) Employ creative and critical thinking techniques.
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g) Plan, organise and present assessed work (in written form and orally) in an appropriate and professional style
Purpose of the assessment
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The purpose of the assessment is to give you experience of:
1. Completing a set of required online tasks to enable effective induction into a company.
2. Planning business decisions that address clearly defined business objectives.
3. Applying selected operations methods to manage a business effectively.
4. Reporting the results of your business improvements in the form of an audio- enabled presentation, that is professional and concise.
The output is a presentation aimed at the company founder who is looking for evidence of a well-managed business developed by a business manager who can diagnose problems and devise appropriate solutions and has a keen sense of providing value to the stakeholders.
The scenario
After three years of trading, Claire Jones, the founder of a Road Bike Manufacturing company assigns you as the company Managing Director. The Road Bike market consists of around 20000 potential customers who purchase on average once a year and spend roughly 2.8 million pounds annually. The market is divided into several sub-segments, such as Road Commuting, Road Racing, Road Leisure, Road Fitness, and Road Touring.
Customers often have very specific use in mind when they buy their bikes. They vary in their buying habits, responding more readily to certain types of promotions and being more likely to purchase through their preferred Sales Channels.
Over the past three years the company has established a good basis from which to develop a significant drive towards its desired position as the dominant player within the Road Commuting segment. The company’s product has received good feedback from the Focus Group Research and remains competitive against its direct competitor who also operate within the same sector. Current market share shows an upward trend since the launch of the product and profits have risen significantly recently.
As the new Managing Director your main task is to successfully develop the company from its current position and be able to meet the growth targets after two years of running the company. Your success will depend on identifying and executing a viable growth strategy.
The growth targets for the end of Year 5 Quarter 4 (ie. Level 0) are:
• Net profits of £70,000 per quarter
• Sales Count of 700 per quarter
• Net Assets of £500,000
There are a number of ways to improve the company's current performance including:
- reducing costs
- increasing sales
- increasing revenues
- improving efficiency
- amending the product offer
It is especially important to note that:
- You can make decisions in 4 business areas (organization, operations, sales and marketing, R&D) on a quarterly basis.
- Strategy and decisions directly influence the progress of the company
- The market responses to the decisions you made, so as time passes strategies need amending to suit the changing circumstances.
- Decisions are inter-related, and each business area is affected by decisions made in other areas
- There is generally a compromise in every decision, and well- informed decisions supported by careful analysis and monitoring are more likely to be successful
By the end of your two-year duties as the Managing Director, you are required to create a narrated PowerPoint presentation for the company founder. The aim of the presentation is to demonstrate to the company founder that you are capable of operating the business effectively.
Presentation Elements
In your presentation you are required to:
1. Slide 1: Have a cover slide containing your name, student number, SimVenture Evolution ID in form userxxx@ebd-20, seminar group, the title of the module, and the assignment title.
2. Slide 2: An overview of the Company (Company name, number of employees, the product, customer base and market, and any other key information that you wish to present).
3. Slide 3: Analysis of the company (SWOT) or market (5 Forces).
4. Slide 4: If you have met the stated company objectives, produce a PDCA (PDSA) cycle of one improvement process that you have implemented in your business whilst running the company in SimVenture; or if you did not meet the stated company objectives, create a fishbone diagram that shows an effect in the company and potential causes resulting in that effect.
5. Slide 5: Produce a Process map (using the symbols introduced in the seminar), of your improvement process, and that shows the decisions made. I need help writing my essay - research paper demonstrate your understanding of the purpose and usage of process mapping in the audio narration of your presentation.
6. Slide 6: The sales and financial performance at the end of year 5 (i.e. at the end of the period when you have been managing the company).
7. Slide 7: Reference slide in Ace my homework - Write my essay - Harvard style (minimum of 10 academic references).
NB: I need help writing my essay - research paper demonstrate your understanding of the purpose and usage of each technique that you use in your presentation.
Presentation Format
Your presentation should be professional and follow the following format:
1. The duration of the presentation must be no longer than 15 minutes. Any submission longer than this (or overly short) will negatively affect the presentation and communication criterion. As a rule of thumb in a presentation you need to spend about 1.5-2 minutes presenting each slide (except the cover page).
2. Get custom essay samples and course-specific study resources via course hero homework for you service - Include a minimum of 10 references (using Ace my homework - Write my essay - Harvard citation and referencing style) to academic sources. You can also include additional professional/trade sources in addition to the 10 academic references. You should include NO references to generic web sources. You are strongly advised to use Library OneSearch to find appropriate high quality sources, and NOT reply on using general search websites such as Google, Yahoo, Bing, Safari, etc.
Assessment weighting
The presentation contributes 50% towards the final module grade.
Citing and Referencing
Ace my homework - Write my essay - Harvard referencing
BUSI12092 Enterprise and Business Development
_________________________________
User
c) Understand the role of operations management within enterprise.
d) Demonstrate the use of core operations management theory in the context of enterprise development.
c) Operations management plays a critical role in the success of any enterprise. It involves designing, planning, organizing, and controlling the various processes that produce goods and services. Operations management is responsible for ensuring that the enterprise's resources are utilized effectively and efficiently to achieve its goals. This includes managing the supply chain, production process, inventory, quality control, and logistics. The operations management team is responsible for making decisions that can impact the enterprise's profitability, productivity, and competitiveness.
d) Core operations management theory refers to the fundamental principles and concepts that guide the effective management of an enterprise's operations. Some of the key theories include process design and improvement, inventory management, quality management, capacity planning, and supply chain management. For example, process design and improvement theory involves analyzing the organization's processes to identify opportunities for improvement, such as reducing cycle times, increasing efficiency, and minimizing waste. Inventory management theory focuses on managing inventory levels to ensure that the enterprise has the right amount of stock to meet customer demand without tying up excessive capital. Quality management theory emphasizes the importance of delivering high-quality goods and services to customers by using techniques such as statistical process control and Six Sigma. Capacity planning theory involves determining the appropriate level of resources, including equipment and labor, required to meet customer demand. Supply chain management theory is concerned with managing the flow of materials, information, and financial resources throughout the supply chain to optimize efficiency and effectiveness.
In the context of enterprise development, operations management theory can be used to identify opportunities for process improvement, reduce costs, increase efficiency, and enhance customer satisfaction. By applying these theories to enterprise operations, organizations can streamline their processes, increase productivity, and deliver high-quality goods and services to their customers. This can help the enterprise to gain a competitive advantage in the market and achieve its strategic objectives.
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