Swan Cruises was formed in 1995 by a group of four friends who each owned cabin cruises and used redundancy payments to purchase additional four. From their own boating activities and contacts, they concluded that there was a good opportunity in the market for family cruising holidays on the canal system. They produced rough budgets and drew up an advertising plan. Because they wanted to get started quickly to catch the spring season, the partners did not give time to strategic planning. However, after their publicity leaflets and advertising in the press, they received a good number of bookings, but sooner than later they began to run into problems. The waterways authority demanded more safety measures and so their insurance premiums were more than budgeted for; Customers found the cruises too small for family parties to live in for a week; Customers regularly got into difficulties with running the boats and at the locks and the partners had to spend much time teaching and helping customers; There were a lot of complaints and demands for refunds from customers; Three of the boats were damaged by novice sailors; The waterways authority threatened to withdraw the license because of speeding by young customers. Required: Assuming you are the team leader of a group of experts, write a short memorandum to the partners setting out how they would have benefited from using a business policy framework
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.
Swan Cruises was formed in 1995 by a group of four friends who each owned cabin cruises and used redundancy payments to purchase additional four. From their own boating activities and contacts, they concluded that there was a good opportunity in the market for family cruising holidays on the canal system. They produced rough budgets and drew up an advertising plan. Because they wanted to get started quickly to catch the spring season, the partners did not give time to strategic planning. However, after their publicity leaflets and advertising in the press, they received a good number of bookings, but sooner than later they began to run into problems.
- The waterways authority demanded more safety measures and so their insurance premiums were more than budgeted for;
- Customers found the cruises too small for family parties to live in for a week;
- Customers regularly got into difficulties with running the boats and at the locks and the partners had to spend much time teaching and helping customers;
- There were a lot of complaints and demands for refunds from customers;
- Three of the boats were damaged by novice sailors;
- The waterways authority threatened to withdraw the license because of speeding by young customers.
Required:
Assuming you are the team leader of a group of experts, write a short memorandum to the partners setting out how they would have benefited from using a business policy framework
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