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Managing a successful business project

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Unit 6 Managing a Successful Business Project 

Solution to Managing a successful business project

Table of Contents

Introduction: 3

LO 1. 3

P1: Identification of the project aims and objectives: 3

P2: Assessment of the project management plans along with the costs, scope, time, quality, communication, risk and resources: 4

P3: Production of the Gantt chart for completion of the project: 6

LO 2. 7

P4: Evaluation of the implementation of the Qualitative and Quantitative research methods to meet project aims and objectives: 7

LO 3. 10

P5: Analysis of the research data using appropriate tools and techniques: 10

P6: Recommendation to improve the position and performance of the enterprise: 12

LO 4. 13

P7: Assessment of the value of the undertaking to meet the stated objectives, learning and performance: 13

Conclusion: 16

References: 17

Introduction:

The study speaks on managing a successful business project of a medium scale organisation where an entrepreneur identifies certain aims and objectives on the basis of qualitative and quantitative research mechanisms in order to meet the customer’s needs towards the goods and services as well the organisation. The project also signifies the work culture in the different sectors of United Kingdom which includes environmental factors, cost structure, gender equality and diversity and psychological diversifications within the industries. Whatever the size or structure of the organisation may be, their main aim is to attain profitability at any cost and therefore, communication plays a vital role in establishing proper inter-communication channel among the customers and representatives of the businesses

LO 1

P1: Identification of the project aims and objectives:

Every business organisation first and foremost goal is to attain profit at any cost of production (Gul,2014). The secondary objective is to meet societal needs at different level. There are some other aims and objectives of the organisation that are based on SMART model and to create and meet realistic goals:

  • To increase the employability ration of female workers within small and medium size organization by 20%
  • To ensure parity in payment structure for both male and female workers within the SME sector
  • To co-operate with the government interference so to protect the financial interest of the workers employed on temporary basis within the SME sector
  • To ensure payment of minimum wages to all the labours and other field workers by complying with the norms of minimum wage act
  • To create a working environment within the SME sector which does not consider race, gender, age during the recruitment yet selection process

P2: Assessment of the project management plans along with the costs, scope, time, quality, communication, risk and resources:

When developing the organisational plan, the management segment defines the management team, employees and their staff, resources and how an organisational ownership is prearranged. The various risk factors are taken into considerations before implementing any sort of business policies, and different plan of actions or the management plans are therefore initiated in order to maintain the productivity of the business.

Evolution of project management plans along with the different elements to maintain the sustainability of the business:

  • A management plan indicates the activities involved in improving their practices, government-private partnerships, and accumulating resources to attain gender equality and long-term economic value.
  • While the government of United Kingdom has been much  concentrating on genders disparity concept, recruitments on the basis of gender, they have also started to draw their interest towards the scope of medium scale organisations in almost all the parts and sector of the country.
  • Successful individuals develop professional practices to save time component and at the very same time increasing the productivity of the organisation. The leaders or the managers also need to establish their interest in addressing their employee’s concern for the betterment of the business (Karimand Chowdhury,2014).
  • It becomes very essential for the business to innovate the quality of products and services in order to remain in the competition of the proposed business structure. With the developing trends and increasing demands for cheap and inventive products an individual always need to keep in mind while promoting the production of the required products.
  • Communication plays the most vital role in business management strategies. It represents a channel between the customer and the business organisation and it serves as a medium through which both the parties satisfy their needs and demand by developing an inter-communication system. It speaks of the organisation’s brand and helps in advertising the effectiveness of the goods and services developed by the business.
  • The even running of medium-sized manufacturing in the region of United Kingdom represents a major confront irrespective of the technological factor and human resources the business may have at the time of clearance. These are often termed as risk element on the origin of their association with some risk indicators that are linked to operational and functional activity of the business.
  • A resource management plan deals with the evaluation and attainment of human and physical resources. Human resources are developed and administered whereas the physical resources of the organisation are approximated and then it is obtained from the respective point of origin.

All these essential and significant determinant helps in framing a projection of business management strategies which leads to the evaluation of the structural growth and compatibility of the organisation in the present marketing context of United Kingdom (Torres,2014).

P3: Production of the Gantt chart for completion of the project:

In order to complete or submit a specified set of tasks an organisation should construct a Gantt chart, a type of bar chart which explains the duration of tasks performed by each specific individual (both male and female) and time intervals taken in completing an organisation’s process in the required assessment.

Gantt chart:

Activities during research

1-5 months

6-9 months

10-16 months

17-20 months

21-24 months

25-29months

30-36 months

Enhancing the quality of the products

 

 

 

 

 

 

 

Implementing innovation and creativity within the working environment

 

 

 

 

 

 

 

Market research

 

 

 

 

 

 

 

Identification of the potential suppliers

 

 

 

 

 

 

 

Testing and refining the products

 

 

 

 

 

 

 

Identification of the target market

 

 

 

 

 

 

 

Investing into new projects

 

 

 

 

 

 

 

Controlling and administrating the projects

 

 

 

 

 

 

 

LO 2

P4: Evaluation of the implementation of the Qualitative and Quantitative research methods to meet project aims and objectives:

Market research in a medium-sized business structure in the political parameters of United Kingdom put into two of the major distinguishing categories- qualitative research methodology and quantitative research methodology. Both research methodologies have their own distinctive features, but when compiled together results in the combined-mechanism research which helps in identifying the consumer behaviour and quality of competitiveness arising in the proposed marketing domain (GargaandBambale, 2016).

Qualitative research methodology:

The methodology focuses on the buying behaviour of each gender and consumer purchasing pattern that how an individual think of a particular product and results in making proper choices of the product or services. If a business wants to alter their targeted group, for example, if an individual wants to draw their attention in promoting female products rather than promoting male products, alter their branding process, they need to adopt the qualitative form of research methodology in order to understand the associated cumulative expressive reactions towards a particular brand or a product. It is a semi-structured research method in its outcome, making sure that the discussion is either one-to-one or within a focus group (Glesne,2016).

Focused groups:

If an individual opted to mass a group discussion with a board of selected individual having limited number of both the applicants (bothmale&female), it is important for the representative to direct the discussion around anarray of pre-defined topics. The professional skill for a focus group moderator is to stayimpartial and not to promote inequality among the participants throughout any form of communication ensuring appropriate answers and appropriate decisions regarding the agenda.

One-to-one conference:

It is a method of direct communication between an individual and the selected male and female participant using electronic medium or face to face communication. It’s a more delicate approach in order to conduct the vision of the selected individual allowing them to communicate more frankly and honestly regarding their own belief and biasness. (Jamshed, 2014).

Quantitative research methodology:

The research can either be document based in the outline of postal survey or can be of electronic based using online appraisal and inspection. It requires a least number of sample sizes to accumulate collective responses from both male and female groups, for any meticulous area of concern although large sample sizes will be essential for mainlydependable quantitative data.

Questionnaires and online-offline surveys:

Quantitative questionnaires are the uncomplicated way to accumulate statistical data which in turn provides a more appropriate representation of the gender diversity within and outside the organisation. The outcomes of the questionnaires are accessible in a report layout with line, bar and graph charts making it straightforward for the results to be assimilated (Fletcher, 2017).

Advantages of Qualitative: Quantitative Research Methodology in the evaluation of projects aim and objectives:

  • The research methodology makes easier for both the groups mainly female group because of the biasness and distinctiveness in their work culture and remuneration structure they feel within the organisation and therefore the research study helps in accumulating responses and information in their suitability and compatibility.
  • The research provides an opportunity to the business to investigatenumerousissues regarding the pay back structure, work load and leadership upon the gender basis in depth.
  • The research provides ademandingindustrialist the aptitude to gather large amount of data promptly and professionally exhaling a comprehensive view of gender diplomacy beyond the research contenders.
  • The research provides an utmost self-assurance to the individual in preparing strategies while producing, promoting, branding, and packaging and delivery of products.

LO 3

P5: Analysis of the research data using appropriate tools and techniques:

Data analysis is a process of enabling a researcher or an individual to ascertain or gather a huge amount of data to meaningful insight. There are various tools and techniques that a researcher can use to examine qualitative and quantitative research method (Choy, 2014).

Analysing qualitative data:

Qualitative data analysis works slightly distinctively from quantitative data analysis because the research is made up of annotations, series of words, pictures and sometimes using code. Various methods are used to ascertain the qualitative approach of data analysis out of which the most common techniques are describes as under:

  • Content analysis:It is used to evaluate the acknowledged information in the form of words, media and even physical objects. It totally depends on the nature of the questions and therefore used to examine the reactions from the selected gender.
  • Narrative analysis:It is used to analyse the information’s from countless sources, i.e. from the interviews of the selected participant, conclusions from the necessary inspections and surveys and using the narrations which is answered by the participant (bothmale&female) during the research questions (Antwiand Hamza,2015).
  • Disclosure analysis:This process is used to analyse the interactions and inter-communications between the two genders within an organisation. It also aims in examining the social framework in which the interaction happened between the two associated parties regarding the equal work load and equal pay structure.
  • Grounded technique:It uses the data for explaining an occurrence of a purposeful event. The individual might alter the description or may create new ones in order to fit all the cases in the accumulated information regarding the internal issues like feminism, gender discrepancy and etc.

Analysing quantitative data:

The primary stage of evaluating quantitative data is the preparation of data that generally focuses on converting a raw data to a purposeful and meaningful content, which comprises of four steps:

  • Data validation:The view point of data validation is to evaluate predetermined standards of collecting the data without any preconception. It is processed in four steps:
  • Data editing:Large accumulated data contains fundamental or conceptual errors that are done by the respondents while filling the questionnaires or by skipping them intentionally due to their gender-based supervision (BasiasandPollalis,2018).
  • Data coding:It refers to the process of assembling and transmitting values to the answers from the conducted surveys. For example, if an individual has conducted a survey on 500 participants and in order to find out the number of male participants as well as female participants who are interested in consuming a proposed product, the researcher will create age gapand will segregate the gender of each participants as per these codes.(Male participants and Female participants between 10-15 years would have their age coded as 0&1, 16-20 as 2&3, 21-25 as 3&4, etc.)
  • Descriptive analysis:It helps the individuals to recapitulate the data and mutually helps in finding the purchase pattern of each associated genders (both male & female).It is one of the most important tools for the researcher when the inspection or the survey is limited to the sample and doesn’t need to be widespread to a larger extent ofmale and female population. It is often used for examining gender variable and therefore descriptive analysis is also called Univariate analysis (Campbell,2014).

P6: Recommendation to improve the position and performance of the enterprise:

The significant issue in the ground of marketing culture is to boost the endurance rate of medium scale industries through right of entry to effective training and enlargement processes that assemble their short and long term needs in the context of European market. One of the most efficient plans is to build up the competitiveness of skilled and professional workforce in different position of the organisation through a progressive hierarchy of precise employee training (Ottman, 2017).

The following suggestions are made in order to improve and better the position and performance of the medium scale enterprise in the United Kingdom:

  • Research should be made in such a way that the important and essential elements of gender structures at local, regional and sector levels, that chip into the improvement of the usefulness and competence the labour workforce and human resources at their particular level.
  • A social platform should be constructed in order to give sufficient amount of education, training and work culture to both group or both gender of employees based on the reflective practitioner model which is compiled to produce European Credit Transfer System (ECTS) in a similar ways that attains the basic needs and demands of the potential and present employees within the work structure of medium scale industries in UK.
  • The European Commission should engage in grabbing the opportunity represented by the newly form structural programme with its current Agenda to encourage effectual locally cooperative action that results in the superiority work force among the male and female members of the organisation.
  • There should be a collaborative framework for male and the female representative on the development of inclusive competitiveness among the different partners such as policy makers, social-media partners and other practitioners as well, to maintain the sustainability in the current market workforce of different sectors in the region of United Kingdom as far as medium scale enterprise is concerned (Pappas,2016).

In the context of European market, when small scale and medium scale industries are concerned there exists an immense competition among all the associated enterprise in order to maintain the existence of a particular firm. Comparative strategies should be made taking into consideration the level of work force within the political region and thereafter an analysis should be framed to evaluate the consumer pattern and targeted group before the production and branding process. This is an only way to overcome the countless challenges and to maintain the sustainability of the business in the long run.

LO 4

P7: Assessment of the value of the undertaking to meet the stated objectives, learning and performance:

The delegated workforce is changing the working environment and working structure of a business in European context when it comes to the way labour performance is administered. As the different workforce expands it needs to be administered at the very same time (Hollensen, 2019).

Impact of organisational learning and businesses performance in stating the objectives of MSE:

Whatever the structure of the business is, the fact is that the market conditions are not always static; it keeps on changing from time-to- time. It is a duty of the organisational head to understand the businesses performance and therefore need to react onto it in order to enhance the organisational performance and individual behaviour. Innovation and adoption of new technologies are always a key element in increasing the business productivity with the current marketing affairs. It takes a separate method to manage in a new workforce which can be attainable through proper learning procedure in the required segment of the organisation. It is a duty of the human resource manager to connect the individual learning and organisational performance in the management structure of small-scale enterprises (Batzer,2019). Performance management supports the process of learning in its three main initial stages:

  • Performance conformity and preparation
  • Controlling performance throughout a year
  • Performance reassessment

It proposes a compiled analysis of the worker’s role so that the latest or restructured role profile can be produced, in order to determine the desired outcomes which, need to be attained and the level of competition arising in the marketing sector. Learning is continuous processes in regard to Performance management which consistently encourages and motivates an employee to draw their attention towards the different challenges and opportunities prevailing in the associated business enterprise and to accumulate the different strategies to counter those oppose situations (Ghosh, 2017).

During the initial stage of recruitment, it is a duty of an organisation to share the performance activities and how this process is being managed and supported at different segments with the candidates of the associated business enterprise. It enhances the working experience of the employees by assimilating the professional successes and aligning the performance management within the work culture of an organisation (Ngoand Nguyen,2016).

The basic performance management process consists of four major key components which are described as under:

  • Planning on performance management:Planning is an essential tool in evaluating the organisational performance by framing various strategies towards the process of infrastructural development and authenticating associated responsibilities to both the groups’ i.e. the male and female groups exhaling the superiority among themselves.
  • Gender Performance Appraisal:Once the planning and framing of strategies are done it is essential for the representative to re-assess the performance of each male and female employees in order to allocate the requisite authorities that needs to be produced in order to maintain the productivity level and in this way the assessment of employees performance are measured and calculated (De Oñaand de Oña,2015).
  • Recognising the achievement of the employees ignoring on the basis of Gender:It is an important aspect for every organisation to consider and recognise their skilled and professional employees on their work basis in order to encourage them and making them belief towards the security and recognition for performing specified set of tasks instead of having disparity among themselves.
  • Career Development: Career orientation and career developments are two of the major tools by which any organisation irrespective of its structure attain long term sustainability goals and at the same time infrastructural and socio-cultural development in the marketing context of an organisation. It is very important for an individual to raise certified training programmes in order to enhance the organisational and individuals’ capabilities (Pan, 2015).

This assessment further concludes the aim and objectives of a medium-sized business structure in order to maintain their pay gaps on gender basis and to maintain sustainability among both the groups in their long-term goals. For the completion of the above assessment, Gantt chart has been used to determine the performed tasks during a specified period of time.

Conclusion:

It is concluded from the above study, there exists an extreme immense competition among the male and female groups in almost all the structures, small scale and medium-sized business structure in the European continental market, due to the technological development and consumer pattern in the buying behaviour of a particular product. Lastly, various recommendations and solutions are suggested to meet the long-term business goals in eliminating gender based recruitment strategy, gender pay gaps, leadership and responsibility allocation on the basis of gender and also to enhance the position, learning and performance of the business enterprise in order to counter the high level of competitiveness among male and female group of distinctive customers prevailing in the market.

References:

Antwi, S.K. and Hamza, K., 2015. Qualitative and quantitative research paradigms in business research: A philosophical reflection. European journal of business and management7(3), pp.217-225.

Basias, N. and Pollalis, Y., 2018. Quantitative and qualitative research in business & technology: Justifying a suitable research methodology. Review of Integrative Business and Economics Research7, pp.91-105.

Batzer, E., 2019. Marketing strategies and distribution channels for foreign companies in Japan. Routledge.

Campbell, S., 2014. What is qualitative research?. Clinical Laboratory Science27(1), p.3.

De Oña, J. and de Oña, R., 2015. Quality of service in public transport based on customer satisfaction surveys: A review and assessment of methodological approaches. Transportation Science49(3), pp.605-622.

Fletcher, A.J., 2017. Applying critical realism in qualitative research: methodology meets method. International journal of social research methodology20(2), pp.181-194.

Garga, E. and Bambale, A.J.A., 2016. The Impact of Service Quality on Customer Patronage: Mediating Effects of Switching Cost and Customer Satisfaction. International Journal of Global Business9(1).

Ghosh, C., 2017. A study on-evaluating marketing strategies adopted by home appliance for economic development in India. International journal of social sciences and humanities1(1), pp.9-15.

Glesne, C., 2016. Becoming qualitative researchers: An introduction. Pearson. One Lake Street, Upper Saddle River, New Jersey 07458.

Gul, R., 2014. The relationship between reputation, customer satisfaction, trust, and loyalty. Journal of Public Administration and Governance4(3), pp.368-387.

Hollensen, S., 2019. Marketing management: A relationship approach. Pearson Education.

Jamshed, S., 2014. Qualitative research method-interviewing and observation. Journal of basic and clinical pharmacy5(4), p.87.

Karim, R. and Chowdhury, T., 2014. Customer satisfaction on service quality in private commercial banking sector in Bangladesh. British Journal of Marketing Studies2(2), pp.1-11.

Ngo, V.M. and Nguyen, H.H., 2016. The relationship between service quality, customer satisfaction and customer loyalty: An investigation in Vietnamese retail banking sector. Journal of Competitiveness.

Ottman, J., 2017. The new rules of green marketing: Strategies, tools, and inspiration for sustainable branding. Routledge.

Pan, F.C., 2015. Practical application of importance-performance analysis in determining critical job satisfaction factors of a tourist hotel. Tourism Management46, pp.84-91.

Pappas, N., 2016. Marketing strategies, perceived risks, and consumer trust in online buying behaviour. Journal of Retailing and Consumer Services29, pp.92-103.

Torres, E.N., 2014. Deconstructing service quality and customer satisfaction: Challenges and directions for future research. Journal of Hospitality Marketing & Management23(6), pp.652-677.

Aim of Unit 6 Managing a Successful Business Project

The unit is based on the understanding of how to manage a business project successfully. Project brief would be set as per the project theme. Within the theme, the chosen project would further enable the researchers to examine and explore various topical business aspects from the perspective of business environment. The overall project aim would help researchers to further implement a project. Independent market research and proper investigation would be undertaken by the concerned individuals for carrying out the project. On successful project completion, researchers would gain confidence in making decisions, solving problems and developing management skills.

managing a successful business project
managing a successful business project

Learning outcomes

LO1 Establish project aims, objectives and timeframes based on the chosen theme

Project management can be defined as a comprehensive practice that includes planning, initiating, executing and controlling specific works within any business project. These steps are generally taken for meeting certain goals and objectives. One of the main advantages that project management produces that it helps individuals to gain a proper idea of developing essential stages of work. One of the essential works is creating project aims and objectives and further developing project plans accordingly. Project planning includes cost, time-frame, quality, risks and changes within the project. Work-breakdown structure is mainly developed for determining project phases and estimated time as per these.

LO2 Conduct small-scale research, information gathering and data collection to generate knowledge to support the project

It is a kind of phase in which project plans are generally executed by the researchers. Various essential methods are taken by them such as data collection, material resourcing and more. This phase is needed to be critical and argumentative. In the data collection method, primary and secondary research can be incorporated. Within the primary part, qualitative and quantitative methods are applied which are based on interviews and survey processes respectively. The overall data collection is based on a field-work procedure in which sampling techniques are undertaken properly. It certainly helps them to meet their desired aims and objectives. Researchers need to ensure the validity and reliability of the collected data for a project. 

LO3 Present the project and communicate appropriate recommendations based on meaningful conclusions drawn from the evidence findings and/or analysis

This part is based on presenting the outcomes of the data through ideal data analysis. Researchers need to consider several verbal and written methods as well as various mediums such as presentation, report and others for analysing the overall data. Convincing arguments are needed to prepare for developing and presenting ideal findings or outcomes of a project. Along with these primary and secondary data must be critiqued by an objective frame of mind.

LO4 Reflect on the value gained from conducting the project and its usefulness to support sustainable organisational performance

In this part, the concerned individuals are needed to have a perfect reflection on the understanding of their overall project performance. It can be done by evaluating overall processes in a project such as market research, data collection, analysis, and others. A proper cycle of reflection should be maintained by them where reflection should be included within the actions they take. It generally avoids generic views and focuses on individual development in a critical way.

HND Assignments

Learning Outcomes and Assessment Criteria

Pass Merit Distinction
LO1 Establish project aims, objectives and timeframes based on the chosen theme  
P1 Devise project aims and objectives for a chosen scenario. P2 Produce a project management plan that covers aspects of cost, scope, time, quality, communication, risk and resources. M1 Produce a comprehensive project management plan, milestone schedule and project schedule for monitoring and completing the aims and objectives of the project. LO1 & 2 D1 Critically evaluate the project management process and appropriate research methodologies applied.
P3 Produce a work breakdown structure and a Gantt Chart to provide timeframes and stages for completion.    
  LO2 Conduct small-scale research, information    
  gathering and data collection to generate knowledge to support the project  
P4 Carry out small-scale research by applying qualitative and quantitative research methods appropriate for meeting project aims and objectives. M2 Evaluate the accuracy and reliability of different research methods applied.  
LO3 Present the project and communicate appropriate recommendations based on meaningful conclusions drawn from the evidence findings and/or analysis  
P5 Analyse research and data using appropriate tools and techniques. P6 Communicate appropriate recommendations as a result of research and data analysis to draw valid and meaningful conclusions. M3 Evaluate the selection of appropriate tools and techniques for accuracy and authenticity to support and justify recommendations. LO3 & 4 D2 Critically evaluate and reflect on the project outcomes, the decision- making process and changes or developments of the initial project management plan to support justification of recommendations and learning during the project.
         
Links

This unit links to the following related units:

Unit 9 Systems Analysis and Design
Unit 8 Management of Projects
Unit 7 Research Skills
Unit 6 Management in Information Technology
Unit 5 Emerging Technologies
Unit 4 Project Design Implementation and Evaluation
Unit 3 Employability and Professional Development
Unit 2 Computer Systems
Unit 1 Business Skills for e-Commerce
Unit 46 Social Media Practice
Unit 45 E-Commerce & Strategy
Unit 44 Pitching and Negotiation Skills
Unit 43 Tapping into new international markets
Unit 42 Planning for growth
Unit 41 Brand management Assignment HND
Unit 40 International marketing
Unit 37 Consumer behavior and insight
Unit 38 Customer value management
Unit 39 Sales management
Unit 47 Business Intelligence
Unit 34 Business Systems
Unit 35 Developing Individuals, Teams and Organisations
Unit 33 Business Information Technology Systems
Unit 32 Business Strategy
Unit 31 Statistics for Management
Unit 30 Taxation