Improving Business Performance 6LO500 Spring
For a successful business to be increase the productivity, and also have to better planing to effectively use of resource. And also helps to evaluate the SWOT analysis which is strengths, weakness, opportunities as well as threats of the the organization (Wellin, 2016). Improving of business should be included the specific goal time limit of the workers and also development of the implementing the business strategies. Present report is based on British airways which is airline company. In the below mentioned assignment, discussion based on three different changes on the operational performance.
British airways is the international airline company ans its financial year is March 31,2006. It is a largest established airlines. The two main principle airport that is Heathrow and Gatwick. It is also connect with American airlines as well as QANTAS, Canadian Airlines. British airways provide broadloom world network in customers that can help in better customers satisfaction and also get a good feed back from the customers. It is corporate with the accord within the one world airlines. Is is also included the smaller franchising that can give the good feed from the passengers that the longer British Airways network (Raynus, 2016). The most important strategy of this company that is development of the the link within the airlines as well as its new members. British airlines also give services their passengers that is health related and also give the good and fresh food which is helps in a good satisfaction of customers on the organisation. this airlines is also formulated the licensing system of the air transport licensing board 1960.
This company was established on 1 September 1974 in the labour Government. It is also the give to advertisement on tour and holiday sales on the own website that can included the al of the information regarding this type of services to the passengers and also the upcoming customers (Pollock, Wick and Jefferson, 2015). It is use to web technologies to utilised the assemble and the process that is carried out the competitive advantage for the company also the increase the success as well as profit by the use of techniques of the organisation and also give the wireless internet mobile services to travel of loyal customers and also brought the time saving benefits of their customers.
Operational Performance:The performance of the company which is done against the prescribed way and it is measured against the prescribed standard. Like the productivity, waste reduction, etc. Three changes required to do in Operational Performance
- Centralization:- This is an operational change by doing this change in British airways they can achieve there goals easily by simply applying this changes. Centralization is specially made to remove the redundancies so that they can achieve economic scales. The company can operate with the fewer suppliers and the few vendors and the location(McKinnon,et.al., 2015.). Centralization can be done in accounting, HR, advertising and specially it is back office related. The of this may be technical and process oriented. And its real barrier is companies culture.
- Standardization:- British airways companies should follow this policy there because by this policy as to reduce the operational cost and should provide the good experience to the customer. This principle in mainly used in productivity, maintenance and delivering of products and service. By this principle the customer is been satisfied by the company and then they will be more attracted to the specific company so they will sourly wants to come again.
- Optimization:- if the company had followed the other principles then they are ready to do this change in the organization, it is the performance to the maximum values. Its vision is to look at the past of the fiscal quarter and invest in the people which is the important resource of the organisation.
- It can make the drastic change in the company because it has the power to make the many things better.
- It can make the customers satisfactory level high.
- If the customer is satisfy by the products and services then they will automatically will come back to the company again(, 2016).
Project investment appraisal: According to Latino, Latino and Latino (2016), it has been observed that project investment appraisal is a planning of the evaluated the long term investment that are included the machinery, new plat as well as product. In this process we included the process of the business that use the limited liquid fund ans also the investment. Investment appraisal have great flexibility of the product as well as the quality of product and it is also improving the company image by the better productivity and good staff morale. It is also take a quicker decision.
As per the views ofDangelico., (2015), it has been analysed that different factors and the first factor that is Staff Motivation is the effective factor of the investment that is motivated to the staff in the company regarding the investment process. The second factor is customers satisfaction that is related to the services of the company which is give to the customers in a financial term before creating any investment. And the next one is availability of manpower to the company that is effects in the sufficient manpower to operate the business.
As state by Wu., Straub, and Liang., (2015), it has been depicted that British Airway Company used the Accounting rate of return (ARR) in this technique the ARR is basically calculated the average profit of the company according to the investment of the company it is evaluated with the average amount of investment. This technique is calculate the return of the company in percentage rate. And it also generated the out come of the capital investment. ARR is evaluated the return on investment in monetary term its also known is simple rate of return. It use in when the multiple investments are there.
While investing in the other things firstly the investment should be in the process of motivation staff or the human resource is the most essential part of an organisation because of them only the company can move to the growth if the staff is motivated well timely then the company can be grow fast. Costumer satisfaction also plays the important role in the company it also effects the growth of the of the company, if the customer is not satisfied with the company or any policies or else then they will move to the other one (Gattorna, J., 2016). Regulation of Government in this policies the government should been involved in the companies policies so that they would not get any issues while working in with the new [policies or the project so it should be in the eyes of the government. There should be an eyes on the competitors actions so that the company should get the information about the others doing in the market. Trend is the important part of the company before they have proceed to the new project then they should have the knowledge of the trends or the needs of the customer. Manpower should be available so that there should be enough peoples there in the company so that the equipment which are been used in the company can be operated properly(Hyland., Lee, and Mills., 2015). Backed profit/ sales this is the police in which the company had been involved to make the extra profit in the company and the customers can get the advantages. By that they will get more attracted to the company and they will like be in the contact of the company and there will be only little chance to switch to the other company.
According to May, G., Barletta., Stahl, and Taisch., (2015),it has been observed about the Radical change and continuous improvement.
In radical changes some of the companies wants the fast cost reduction methods in the present time. And on the other hand they need the team to be in the growing form and they need to there team to be forward always. It is the change which is been done in the company to the various sectors of the company. Continuous improvement are the improvement or the efforts which is going to be done in the company and in this tool the most preferred methods is been used is (PDCA).
As per the view of Amores-Salvadó., Martin-de Castro, and Navas-López., (2015), it has been analysed that the continuous improvement is the thing in which the company is been improving day by day with the changing of the things of the surrounding and it use to improve the working process of the company. Radical changes is the changes which are been done in the bases of political and economical ways. And it is also on the basis of the social issues.
As state by Cook, and Wolverton., (2015), it has been depicted that continuous improvement is the best for British airways can do because continuous improvement can make the company grow the more as its name itself defining its role in the company that by the theory they can make the continuous improvement in the company day by day. It is beneficial for the company like by the can reduces the waste by it, it can reduces the work time of the people if there are been divided into the team and the work is been divided into the small sections to everyone, the can provide the customers the services on the time. The can be more effective by reducing the cost money and can compete with there competitors.
Company can used both of approaches which is change in the business the first approaches is Continuous improvement is the best way to start in the the work in management under the leadership which is give to responsibility to employee to do work in a team to get better feedback. It is basically focused on the customers need and also fulfil their wants and desire to get better customers satisfaction in the organization(Orozco., Tarhini. and Tarhini., 2015). And it also improved the business and get more and more profits in the large scale and also concerting the better work for the organization without any problems and improve the satisfaction of the customer regarding the product. The benefit of continuous improvement is reduce the conflicts of the groups.
Radical change is also known as traditional change regarding the particular situation. Is is also included the political change as well as regulatory and technological change that is effects on the organization. It is also set the framework of the better understanding of the company. Radical change is based on the action of the services and the customers and at the some point the big company to face the changes that can improve the productivity as well as companies goodwill(Lee., Kim., Seo. and High., 2015). For the organization the main part of the improvement is customers satisfaction is more effected in a better business to improve the coordination in the employee.
The both approaches can enhance the sale as well as profit of the organization also increase the image of the company. In this business these approaches customers satisfaction is more important of an business to get better feedback to the passengers that is grows the business of the British airway company.
Step1:- Plan of the project should be explained to the stakeholders and the components should be known well:
The project file is the most important thing because it contains all the details and it is the living structure of the project which has to been changed according to the situations.
Components of the projects are:
Step2:- Roles and responsibilities are been defined.
All stakeholder will not pay attention on the plans so there should be the following parts written that what portion who will see. It should be like:-project sponsor, designed business expert, project manager etc.
Step3:- Kick off meeting should be held
This is the meeting which is been required for the planning of the project plans and it is very effective. It is beneficial like:- business vision, roles and responsibilities, team buildings,project vision,ground rule etc.
Step4:- Developing scope statement
This is the most important project because it contains the main material of the plan other things are been done according to this plan(Taghian., D’Souza. and Polonsky., 2015).
Step5:- Developing the baseline scope
When the scope statement is been composed then it is to be develop.
Step6:- Developing the cost and the baseline of the schedule
Step7:- Baseline management plan should be created.
After the scope, cost and the schedule are been set then the team will manage the various plans.
Step8:- Staffing plan should be developed
Staffing charts are the table or the time which is been given like in months quarters, years it is given because at the time it will come out.
Step9:- products quality ans risk is been analyse
It should be on the behalf of the project quality,project risk(Gerow., Thatcher. and Grover., 2015).
Step10:- Communication should be there
Communication also plays the important role in the project plan it helps to manage the other things
According to Wu., Straub and Liang., (2015), it has been observed that Project risk is process of evaluating the risk as well uncertainty. It is a possibility of the offence and loss of the company it is also deal with uncertainty of the project that is affect the business as well as project of the company. Project risk is the probability of the planed and unplanned project that is negative impact on the organization. It shows the scope as well as budget of the project will follow-up the the business.
As per the views of Raynus., (2016), it has been analysis that the risk factor is also known as uncertainty that can define the lack of knowledge about the future event that is shows the companies image in a particular manner which can affect to the organization. And it is also identify the strategies as well as project risk. The first risk factor is customer perception that shows the ideas about the project risk and it can be mismatch under the services if the company.
The second one is work flow that is shows the changes in the work as well as the conflict of the project and some changes in the work have to affect on the organisation. The next one is customers conflict that shows the different customers have to smiler wants regarding the project. As state by McKinnon. et. al., (2015), it has been depicted that British airway company used the payback period that is the oldest method used in organisation to measured the risk of the company regarding the investment process. This method is calculate the profitability of the organisation.
Company can use payback period method to analysis the risk of the organization it can measured the profit regarding the services and also evaluated the risk it can better use of services which is provided by the company. The benefits of this method is it is very simple to calculate and it can measured the risk to increase the project value and also shows the liquidity problem of the company to give ranking system of project(Dangelico., 2015). It is also important to those organisation that is newly established. it is also take a quick decision for the project to enhance the service.
Payback period can change the project value that is ignores the time value of money and according the customers need and wants the company should be provided the services also give the better feedback by the customers. And increase the profitability of the company that can helps in the grow up the organization. Payback period can helps in evaluated of services that can fulfil the customers need and wants. It is determine the out flow of the investment within the initial cost. it helps in small type of firm to calculated the risk.
- Project plans should be explained to the stakeholder in the proper way and there should be an proper manner. The roles and responsibilities of all the things should be done to manage the project. It should be described all the works or the duties of all the persons individually.
- There should be an proper statements of the plan because the outcome is been dependent on this statement. So it should be in way(Pindad and Requejo., 2015). We have to see that all the things which have been produced on the project and has to identify it and after that all the works has to be identify what has to be done.
- The project contains the scope statemented and should contain the needs and the problem of the business. The project objectives should be set and there should be the solution ready for the problem occur.
- It is important to identify the task and to completing that task what all resource is been needed. The task which are been dependent to the other is been identified. There should be an proper schedule of the all the task to be done,
- The quality of the project should be identified so that the project can be complete in the according to planned way. By creating the quality plans it involves the stranded plans. The main part in the project is communication because without communication the problem is not been solved. So the communication in each project is necessary. Once the project plan has been completed the communication of the content of the project has to been told to the sponsor(, 2015). The kick-off meetings should be held so that stakeholder all together discuss the project. It is done to initiate the planning g process. The main things which are been done the in the kick off meeting that should be strategies and vision of the business and the projects vision, team building and the team commitment.
It is from the above statement it is been concluded that how the operational performance is useful the company. This performance can make the drastic change in the company and it makes things more beneficial to be done and the customer get more satisfaction and if the customer become satisfied by the company then it will be more beneficial to the company.
Radical changes and the continuous improvement is been defined in this the continuous improvement is good for the company to implement in the company because implementing this the company will get more benefits. While preparing the project file some of the things should be kept in the mind that there should be proper communication should be done in between all the stakeholder and all the things should be scheduled in the proper way and the task should be maintained in the time based so that all the task has been done on the time given.
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