Development of product and services in an organisation

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products, services, business plan, methods of collecting data, factors for the success of project

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Development of product and services in an organisation

  1. 1. Contact BHAVI BHATIA for assignments: bhavi.bhatia.411@gmail.com; +91-9814614666 1Table of contents: Task Contents 1 Choose any organization you are considerably familiar with and develop a business case a new product/service/process and how its development will result in success and profitability for your organization based on research and also submit and idea for your product plan by outlining costs of all resources required for implementation, timescales and workable strategy. 2 Produce a power point presentation 3 Carry out project in accordance with project proposal. Include crucial factors for success of the new product/process/service. Identify the cost of training and development of staff. Developing appropriate marketing strategy. Developing monitoring and evaluation process in regard to new process. 1 Contact BHAVI BHATIA for assignments: bhavi.bhatia.411@gmail.com; +91-9814614666
  2. 2. Contact BHAVI BHATIA for assignments: bhavi.bhatia.411@gmail.com; +91-9814614666 Task1: Choose any organization you are considerably familiar with. Develop a business case a new product/service/process and how its development will result in success and profitability for your organization based on research. Submit and idea for your product plan by outlining costs of all resources required for implementation, timescales and workable strategy. Fishery: "Training in Fish Stock Assessment and Fishery Research Planning" has organized training courses on fish stock assessment and workshops dealing with the assessments of specific resources in many countries. The general experience has been that in many cases proper assessments were difficult to achieve due to restrictions in the available data, both in quality and quantity. In August 1997 at its first session, the APFIC Joint Working Party on Fishery Statistics and Economics recommended that APFIC and FAO should prepare "draft guidelines on methodologies and standards for the collection of production and structural statistics for capture fisheries”. On this basis it was decided to form an informal inter-departmental working group to organize an Expert Consultation on Routine Data Collection and a Regional Workshop to allow experts from Asia to review the draft guidelines on the collection of data from marine and inland fisheries. Chapters of the guidelines were written prior to the Expert Consultation, but during the meeting most of these manuscripts were re-arranged and simplified. Further: 1. The organization is constantly trying to identify and explore opportunities in order to survive and be profitable.
  3. 3. Contact BHAVI BHATIA for assignments: bhavi.bhatia.411@gmail.com; +91-9814614666 2. Its manager focuses on the market and tries to identify opportunities which the organization can explore and face market threats. Central to the success or failure of a business is the health of its product (or service) mix. The product life cycle concept is a useful conceptual framework within which to study how firms can vary their marketing strategies. At different stages in the product life cycle certain marketing strategies seem to be more appropriate than others. The life cycle concept also points to the different earning patterns of products or services at various points in time. It indicates that it is necessary to have a balanced portfolio of products services in terms of cash generating capabilities in order to ensure steady-sales and profits at all times. Since products will generate different cash flows and profits over their lives it means that the firm has to constantly review its product mix, prune its product lines and introduce new products from time to time in order to maintain long-run profits and stay in business.
  4. 4. Contact BHAVI BHATIA for assignments: bhavi.bhatia.411@gmail.com; +91-9814614666 Task 3: Methods of collecting data: 1. Qualitative Data and Quantitative Data: Qualitative data is data that is mainly words, sounds or images. Quantitative data is data that is mainly numbers. 2. Structured and Unstructured Data: Structured data is organized, unstructured data is relatively disorganized. Structured data can be produced by closed questions; unstructured data can be produced by open questions.
  5. 5. Contact BHAVI BHATIA for assignments: bhavi.bhatia.411@gmail.com; +91-9814614666 Setting up a data collection programme follows from identifying data needsthrough to working out how the data should be collected. In designing the programme,all options should be carefully considered. Strategies for the design of data collection programmes will vary between fisheries. Within a state or region, there almost always will be a mixture of industrial, small scale commercial, artisanal, subsistence and recreational fisheries. Each will have its own characteristics, itsown relative importance and its own potential for the supply of data. In addition, someinformation must be obtained from external sources, such as international market data, orcatch data from
  6. 6. Contact BHAVI BHATIA for assignments: bhavi.bhatia.411@gmail.com; +91-9814614666 foreign fishing vessels that never visit state ports. Each fishery will require its own strategy with elements of complete enumeration and sampling. Over time some aspects of a data collection strategy may move from complete enumeration to sampling (or vice versa), particularly as knowledge is developed and requirements or resources change. Sampling strategies are often punctuated by complete enumeration from time to time in order to re-evaluate baseline data. It is not feasible to construct a perfect strategy for any one fishery or subsector that will meet all requirements for all time. Flexibility and the adoption of alternative approaches must forma key component of any strategy, whether it is designed for assessment of fish stocks, the evaluation of markets or the assessment of community dependence on fisheries. In general, however, any strategy will require the following steps: • evaluate existing data sets in relation to the objectives of the programme, including accessibility of the data (i.e. computerized, on paper); • describe the operating characteristics of the sector or subsector (e.g. fishery, market, fleet, community, institutional environment), also known as the census or frame survey; • decide on the approach to be taken: complete enumeration or sampling, including cost benefit and cost effectiveness analysis and an evaluation of operational considerations(institutional, financial and human resources); • design methods according to the approach adopted, including the form of stratification to be used in sampling; • implement a test phase to validate the method, including participation by other stakeholders; • establish a continuing feedback mechanism between data sources and data users to ensure that data types, quantity, quality and origin are consistent with the requirements for determination of the performance indicator in question. INFORMATION REQUIREMENTS FOR SYSTEM DESIGN:
  7. 7. Contact BHAVI BHATIA for assignments: bhavi.bhatia.411@gmail.com; +91-9814614666 Infrastructure information is essential for constructing frames for a data collection programme. The first step is to define the water bodies and areas that will be included, and prepare a description of the fishing industry operating within them (ports and landing places, fishing fleets, fishers, markets and transportation routes etc.). Such information serves to provide a detailed classification and description of the structure of the primary fishery sector, and is essential for establishing a proper collection scheme for all fishery data. Many of these institutional data are also required for socio-cultural analyses. Crucial factors for the success of new project/process: 1. Understanding your customers The importance of understanding the customers cannot be overstated. Most companies operate without clear and well-defined understanding of true customer needs, what their customers actually value the most and the least, what they are willing to pay for and what would make them stay loyal. And, even if these factors are well understood, the ability to build and execute a competitive strategy is often lacking. So potential competitive strengths never materialize in the eyes of the customer.
  8. 8. Contact BHAVI BHATIA for assignments: bhavi.bhatia.411@gmail.com; +91-9814614666 2. Strong product management: But in my view, the lack of proper organization and well-defined product management processes is an extremely typical cause of inability to bring even excellent product ideas to the market. Without an owner nothing is going to happen after the initial brainstorming. And even with a well-defined product owner, most required actions will not take place unless the processes are in place to get beyond the idea stage. Make sure the product owner is not merely a ‘technical’ one, but in fact measured on all 3 components of my initial objective: profitability, time-to-volume and customer satisfaction. And with ownership and customer understanding in place, we can start moving.
  9. 9. Contact BHAVI BHATIA for assignments: bhavi.bhatia.411@gmail.com; +91-9814614666 3. Ability to identify and focus on the best product ideas Far too many companies try to develop too many product ideas at the same time. Try to avoid that pitfall. 4. The right product architecture:
  10. 10. Contact BHAVI BHATIA for assignments: bhavi.bhatia.411@gmail.com; +91-9814614666 What happens when you move from the stage of product idea into deeper analysis, design and engineering? Different people take over. So we must make sure we create a handover where the new people really understand what’s vital. And do we manage that? Normally, there is no easy way to ‘tune’ a product architecture once products have been built and launched based upon that specific architecture. It’s like building a house: You better find out whether you need an elevator before you have already built the first three floors. It is not impossible to redesign afterwards, but it is extremely expensive and time consuming. And often you are better off scratching whatever you built and start with blank sheets of paper.
  11. 11. Contact BHAVI BHATIA for assignments: bhavi.bhatia.411@gmail.com; +91-9814614666 5. Strong project management: This success factor is also rarely on the radar of the ‘innovation people’. But true innovation is not about generating ideas, but about execution. Ideas are not very valuable unless they are properly implemented, which brings me to the hard disciplines of managing time and costs, benefits and risks, team members, contractors and vendors, issues and requirements, tasks and milestones. And all the other good stuff related to project management. Project management? Yes, proper product development requires heavy involvement across typical boundaries between departments and business areas. So the project form is nearly always better than implementation through a line organization.
  12. 12. Contact BHAVI BHATIA for assignments: bhavi.bhatia.411@gmail.com; +91-9814614666 6. Support for customization: Getting the customization issue right actually has to do with most other success factors. It is related to understanding which customer needs are customer specific, and which are ‘generic’. It is about building a product architecture that enables customization. And it’s about the way customer projects are run and how different customer groups are involved in regular product development projects.
  13. 13. Contact BHAVI BHATIA for assignments: bhavi.bhatia.411@gmail.com; +91-9814614666 All the factors when taken together becomes as shown in the diagram below: Analysis of the business Understanding a business in depth is the goal of self-analysis and is based on detailed current information on sales, profits, costs, organizational structure, management style and other factors. Approaches include: focus on marketing competencies and the resource-based view of the firm which are central to any thinking about self-analysis from a marketing perspective. Next there is value chain analysis which examines the elements upon which a competitive advantage can be based. Other useful frameworks include Kay’s distinctive capabilities and the Balanced Scorecard. Then there is shareholder value analysis which provides a financial evaluation of a business. These might be briefly discussed and illustrated. One should also mention sales and profitability analysis along with the need to implement more qualitative measures of analysis which try to ascertain customer perceptions of the organization and its products or services.
  14. 14. Contact BHAVI BHATIA for assignments: bhavi.bhatia.411@gmail.com; +91-9814614666 Creativity in business is an important issue and there is a need be aware of problems associated with negative mind sets and blocks to creativity. Discuss how such problem can be circumvented and illustrate some of the creative problem solving techniques mentioned in the chapter in the book. Sustainable competitive strategy and generic strategies: In order to keep the strategic window open it is necessary to maintaining a sustainable competitive advantage. In consequence, one should note that competitive advantage should be market led. One should explore and examine the nature of core competencies and interpret their importance as the basis of gaining a sustainable competitive advantage in the market place. Along with these core competencies are a number of generic strategies that an organization can seek to follow or implement. Each of these generic strategies should be examined in turn. That is low-cost, focus and pre-emptive strategies and differentiation strategies. The latter leads on then to the consideration of product and service quality, customer focus and relevant issues relating to brand management. Evaluation of staff development and training cost: Staff development is an important part of assisting performance improvement at organisational, faculty/central department, unit and individual levels. It is therefore important that the transfer of learning into the workplace is assessed through a process of review and evaluation so that its success or otherwise can be established and so that we can demonstrate the contribution learning makes towards overall organisational success. Evaluation is the process of finding out how the development or training process has affected the individual, team and the organisation. The benefits of evaluating training and development are to:  Promote business efficiency by linking efforts to train and develop staff to operational priorities, goals and targets.
  15. 15. Contact BHAVI BHATIA for assignments: bhavi.bhatia.411@gmail.com; +91-9814614666  Identify cost effective and valuable training events or programmes, leading to better focused learning and development.  Ensure the transfer of learning into the workplace.  Use and reinforce techniques learned to help improve quality and customer service within the organisation.  Help define future development objectives. The role of employee training and development is becoming more important as companies are increasingly relying on the knowledge, skills and abilities of their human capital to drive firm performance. According to the SHRM Employee Development Survey Report, the top three methods that are used most frequently for employee development are generic training (84%), cross-functional training (80%) and leadership training (71%). Since training is a major component in enhancing employee competencies, tracking the training-cost-per-employee metric helps determine the investment in training at an individual level. This metric can be computed by dividing the total training cost for an organization by its headcount. Shown below is the formula for calculating the general cost:
  16. 16. Contact BHAVI BHATIA for assignments: bhavi.bhatia.411@gmail.com; +91-9814614666 Organizations commit to training for different reasons, such as improving product quality, introducing technology to gain operational efficiency, reducing errors, etc. Yet capturing the training cost per employee is only the initial step in quantifying the value of training. From there, it is necessary for HR professionals to analyze the effectiveness of training by identifying operational results, if any, that training had on employee performance. To more completely evaluate the return on investment of training, HR professionals must work with department managers to determine the effects of improved employee performance on business results. For example, if recent training improved employee performance by reducing the amount of errors those assembly technicians made when assembling a product, it may be possible to quantify the amount of time that quality control technicians saved in reworking products before they are shipped to customers. Tracking this metric may also facilitate the budgeting process. For example, based on an established record of training cost per employee, HR practitioners can estimate the expenses involved in training new hires. In addition, by comparing training cost per employee with similar organizations, HR professionals may find the data helpful in justifying training initiatives for their organizations, because developing the skills of their workforce is one way that organizations can enhance their competitiveness in the market. An illustration of this can be seen when call-center employees are provided with in-depth customer and conflict resolution training. Such training provides call-center employees with additional skills to
  17. 17. Contact BHAVI BHATIA for assignments: bhavi.bhatia.411@gmail.com; +91-9814614666 positively resolve customer complaints, which, in turn, creates a loyal customer base that will likely purchase products from the organization in the future. Other worth noting facts and various cost factors:
  18. 18. Contact BHAVI BHATIA for assignments: bhavi.bhatia.411@gmail.com; +91-9814614666 Reference: 1. Acheson, J. M. (1981). Anthropology of Fishing. Annual Review of Anthropology 10:275-316. 2. Anderson, J.E. (1987). Quotas as options: optimality and quota licence pricing underuncertainty. Journal of International Economics, 23(1/2):21-39. 3. Caddy, J. and Mahon, R. (1995). Reference points for fisheries management. FAO Fish.Tech. Pap. No. 347. Rome, FAO, 83p. 4. Davidse, W.P., Cormack, K., Oakeshott, E., Frost, H., Jensen, C., Rey, H.S., Foucault, F.and Taal, C. (1993). Costs and earnings of fishing fleets in four EC countries calculatedon a uniform basis for the development of sectoral fleet models. The Hague, AgriculturalEconomic Research Institute (LEI-DLO). 5. FAO, (1995a). Code of conduct for responsible fisheries. Rome, FAO, 41p. 6. FAO, (1995b). Programme for the World Census of Agriculture 2000 (WCA 2000). FAOStatistical Development Series No 5, Rome, FAO, 79 p. 7. El Sayed H.R. (on-going) Ecological studies on planktonic and epiphytic microinvertebrates in LakeNasser, Egypt. Faculty of Science, Benha University, Egypt 8. Sarkar, Sanchta. (on-going) Reservoir Fisheries Development in Indian Indo-Gangetic Basin: AnEcono-institutional Perspective. Ph, D. Thesis, Vidyasagar University, Midnapore, West Bengal Bibliography:
  19. 19. Contact BHAVI BHATIA for assignments: bhavi.bhatia.411@gmail.com; +91-9814614666 Abban, E.K. (1999). Integrated development of artisanal fisheries. IDAF Project GHA/93/008 Abdel-Azim, M.E. 1974, Biological studies on Tilapia nilotica L. and Tilapia galilae in Lake Nasser. M.Sc. Thesis,Alexandria. Univ., Egypt. Antwi, L.A.K. 1990. Limno-chemistry of Volta Lake 25 years after its formation. Institute of Aquatic Biology, Tech.Report. 11p Bush, R. 2002. Land reform and counter-revolution. In Bush, R. (Ed.), Counter-revolution in Egypt’s countryside:Land and farmers in the era of economic reform, pp. 3-31. New York: Zed Books Ltd Cheung, S. 1969. The Theory of Share Tenancy, Chicago University Press, Chicago. Christensen V., 2005. SCOR/IOC Working Group 119 on Quantitative ecosystem indicators for fisheriesmanagement Quantitative Ecosystem Indicators for Fisheries Management. ICES Journal of Marine Science62 (3).

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