Critical Path Method
The critical path is the longest succession of tasks that has to be successfully completed to conclude a project entirely. The tasks involved in the sequence are called critical activities, as any task getting delayed will result in the whole project getting delayed. To determine the time duration of a project, the critical path has to be identified. The critical path method or CPM is used by project managers to evaluate the least amount of time required to finish each task with the least amount of delay.
Cost Analysis
The entire idea of cost of production or definition of production cost is applied corresponding or we can say that it is related to investment or money cost. Money cost or investment refers to any money expenditure which the firm or supplier or producer undertakes in purchasing or hiring factor of production or factor services.
Inventory Management
Inventory management is the process or system of handling all the goods that an organization owns. In simpler terms, inventory management deals with how a company orders, stores, and uses its goods.
Project Management
Project Management is all about management and optimum utilization of the resources in the best possible manner to develop the software as per the requirement of the client. Here the Project refers to the development of software to meet the end objective of the client by providing the required product or service within a specified Period of time and ensuring high quality. This can be done by managing all the available resources. In short, it can be defined as an application of knowledge, skills, tools, and techniques to meet the objective of the Project. It is the duty of a Project Manager to achieve the objective of the Project as per the specifications given by the client.
Paramount Hotel promises a remarkable stay with its central location in the metropolitan city of Bengaluru. Flaunting a convenient location, the hotel is easily accessible to many tourist places. The hotel boasts of well-designed and fully furnished rooms which provide a comfortable stay to the guest. Ample car parking space, spacious banquet hall and total air conditioning are some of modern amenities that are provided at the hotel. The lodging facilities have two categories, viz. Executives Deluxe and Executive Suite. The tariffs for executive deluxe are single bed ₹4,500 and double bed ₹5250. Executive suite’s tariff is ₹6,000. Marketing of the hotel’s services is handled by a marketing manager. The selling function is taken care by a sales manager and four sales executives. The sales manager with the help of inside company salespersons carry out prospecting and qualifying of potential customers. For this, they use the internet, talk to the existing
customers (i.e., the guests); advertise online and in business magazines as well as hire hoardings at key locations. Prospective customers with good business potential are then handed over to the sales executives. Bengaluru metropolitan is divided into four territoriesnorth, east, west, and south. The four sales territories were assigned to the four sales executives based on relative abilities of the sales executives. On receiving the information about the prospects, the sales executives approach them and make sales presentations. They use AIDA (Attention, Interest, Desire and Action) formula for presentation. This formula was discussed in their training program. Thereafter, they handle the objections from the prospective customers and try to close the sales using closing techniques. However, the business received by the sales executives has been 50 to 60 percent of their sales targets. This has resulted in a strained relationship between the sales
executives and the sales manager.
1. Why the sales executives are unable to achieve the sales target?
2. If you were the marketing manager what would you do and why?
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