You work in a small bookshop which specializes in selling business books to businesses and occasionally students who are pursing MBA. You see tremendous opportunities for growth as a business book specialist in the country, particularly with internet connection and on-line ordering, and catering to specific segments of the market. However, your boss has been in the business for many years and prefers the old ways of doing things. Clients still order over the phone or visit the store personally. This computer system consists of one computer to handle ordering and sales. Basically, it is a cash business. You discussed with your boss about strategic planning and suggested that this might be a useful process for the business. After considering your suggestion over few days, your boss has come back with comments that Strategic Planning is too big, would take too long, and will consume too much of time for such a small business. REQUIRED: What can you say to convince your boss about the value of such a plan, for the business? Do you believe that it is just as applicable to a business of this size or for larger businesses?
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.
You work in a small bookshop which specializes in selling business books to businesses and occasionally students who are pursing MBA. You see tremendous opportunities for growth as a business book specialist in the country, particularly with internet connection and on-line ordering, and catering to specific segments of the market. However, your boss has been in the business for many years and prefers the old ways of doing things. Clients still order over the phone or visit the store personally. This computer system consists of one computer to handle ordering and sales. Basically, it is a cash business. You discussed with your boss about strategic planning and suggested that this might be a useful process for the business. After considering your suggestion over few days, your boss has come back with comments that Strategic Planning is too big, would take too long, and will consume too much of time for such a small business.
REQUIRED:
- What can you say to convince your boss about the value of such a plan, for the business?
- Do you believe that it is just as applicable to a business of this size or for larger businesses?
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