MBA Thesis Topics

MBA Thesis Topics

This post intends to provide you with a list of quality MBA thesis topics and how to structure your own MBA thesis. Move universities differ when it comes to writing a thesis, this includes referencing style and word count. The MBA thesis structure below will provide useful when structuring your MBA thesis, I have used the below structure on a couple of occasions and benefited from it.

MBA Thesis Structure – Essential Components

Introduction

Writing a dissertation introduction is perceived as a relatively straightforward aspect of the dissertation writing process. The reason for this may be that we often find typical components in an introduction that we can use, regardless of the study we are writing. One of the challenges of writing a good introduction, however, is to be brief, and to stay focused – This will help you with to write the best MBA thesis topics.

An incoherent or unfocused introduction, or one that is over-lengthy, may detract from the overall grade of the dissertation and will not create a good impression on the reader(s). Be mindful that you should avoid being anecdotal in your introduction (i.e. writing as if you are telling a story) and you will also need to avoid wasting words by stating the obvious and writing a series of over-generalized statements.

  • a clear statement of your MBA thesis aims and objectives;
  • the problems to be solved to reach your objectives, and initial ideas on how to solve them;
  • you may also indicate a gap in knowledge, if applicable
  • research questions – if a research project

Literature Review

Unearthing new theories don’t materialise easily out of nowhere; they build upon the findings of previous academic research and explorations. A literature review illustrates how the academic investigation you are conducting fits with what has been written before and puts it into perspective. A literature review demonstrates to your reader that you are able to:

• Understand and critically analyse the background research
• Select and source the information that is necessary to develop a context for your research
• Shows how your investigation relates to previous research
• Reveals the contribution that your investigation makes to this field
• Provides evidence that may help explain your findings later

If you are doing a dissertation, or significant assignment it is likely that you will need to include a literature review. If you are doing a lab write-up or a shorter report, some background reading may be required to give context to your work, but this is usually included as an analysis in the introduction and discussion sections.

What is a literature review?A literature review is an analysis of existing research which is relevant to your research topic, demonstrating how it relates to your investigation. It explains and justifies how your investigation may help answer some of the questions or gaps in this area of research.

A literature review is not a straightforward summary of everything you have read on the topic and it is not a chronological description of what was discovered in your field. A longer literature review may have headings to help group the relevant research into themes or topics. This gives a focus to your analysis, as you can group similar studies together and compare and contrast their approaches, any weaknesses or strengths in their methods, and their findings.

One common way to approach a literature review is to start out broad and then become more specific. Think of it as an inverted triangle. (1) First briefly explain the broad issues related to your investigation; you don’t need to write much about this, just demonstrate that you are aware of the breadth of your subject (2) Then narrow your focus to deal with the studies that overlap with your research. (3) Finally, hone in on any research which is directly related to your specific investigation.

Proportionally you spend most time discussing those studies which have most direct relevance to your research. How do I get started? Start by identifying what you will need to know to inform your research:

  • What research has already been done on this topic?What are the sub-areas of the topic you need to explore?
  • What other research (perhaps not directly on the topic) might be relevant to your investigation?
  • How do these sub-topics and other research overlap with your investigation?
  • A discussion of the technical literature you have read, explaining why it is relevant for your project critical analysis, e.g. strength, applicability and weakness
  • Identify any knowledge/research gap and how you may address this gap, if applicable
  • Note down all your initial thoughts on the topic. You can use a list to help you identify the areas you want to investigate further. It is important to do this before you start reading so that you don’t waste time on unfocused and irrelevant reading.

    Searching for sources It’s easy to think that the best way to search for texts is to use the Internet – to ‘Google it’. There are useful online tools that you may use, like Google Scholar. However, for most literature reviews you will need to focus on academically authoritative texts like academic books, journals, research reports, government publications. Searching Google will give you thousands of hits, few of them authoritative, and you will waste time sorting through them. A better idea is to use databases. These are available through the Library in paper and electronic (usually online) forms.

    MBA Thesis Topics
    MBA Thesis Topics

    Requirements – MBA Thesis Topics

    • User requirements for the target system, if applicable; or
    • Requirements to achieve the success of your project

    Evaluation Framework

    • Evaluation of your proposed system (if building a software system); or
    • evaluation of your research project, including e.g.
      • quality of data used: e.g. reliability, coverage/completeness
      • quality of data collection method, e.g. limitations of sampling methods
      • quality of analytical methods used, e.g., any limitations? Any bias?
      • quality of conclusions drawn, e.g. are they affected by potential bias of input data due to methods used, incompleteness of data, etc.
      • quality of presentations, e.g. which visualisations used to view complex data – what diagrams have been used, are they suitable?
      • quality of tools used, e.g. are they appropriate? Have you encountered any problems, if so, how did you overcame them?

    Methodology

    • initial design of software or design of experiments, if applicable; or
    • methodology for carrying out your research project, inc. where/how you plan to source your data, how you plan to group them, what methods you plan to deploy for analysis,
    • you can draw a methodology diagram for this.
    • Questionnaire, if any.

    Project Plan

    • PLES issues
    • Timetable and work plan for the whole year, agreed with your supervisor, and specifying activities, deliverable and deadlines. See an example timetable here: project management information:
    • Make sure that you have clearly labelled your time allocation on evaluation and how you will meet the deadlines, etc.
    • Risk analysis and remedies/management

    References

    Appendix (as needed)

    An appendix (plural is “appendices”) is a section added to the end of your dissertation. It includes material that expands and explains the subject matter you have discussed in earlier sections. Each appendix should cover a distinct aspect of your subject. Follow the steps below and you will learn how to write an appendix and its importance to your writing. This is essential for MBA thesis topics.

    • Blank consensus form (if interview/survey are to be conducted)
    • Blank questionnaire (if interview/survey are to be conducted)
    • Data tables or diagrams (if appropriate)
    • Copy of questionnaire or survey
    • Copies of personal correspondence
    • Interview questions
    • Transcripts of interviews
    • Large graphs
    • Maps
    • Illustrations or photographs
    • Explanation of technical information or formulas
    • Diagrams
    • Raw data

    And that’s it, everything you need to include. As with everything, it’s a good idea to check with your dissertation supervisor before handing in as they’re the authority on how your University wants your dissertation. Remember, it’s the starting that’s the hard part, once you’ve sat down and committed the time, it should come quite easily.

    MBA Thesis Topics Notes

    1. Always check the marking sheet/rubric and make sure that you have meet all of the required work. Also make sure that you observe the percentage allocation for each of the categories and that you have provided sufficient to meet the percentage.
    2. The above is the minimum set of requirements. If you have done more than what is suggested here, for instance a preliminary implementation or tests of existing software tools, by all means report it.
    3. Make sure you do not exceed the maximum pages allowed. If you have useful graphs and data, you can include them in appendix.
    4. Make sure you run spell checker to make sure there is no spelling errors.
    5. Make sure you have a clear format
    6. Make sure you use formal language

    Any special format? The cover sheet must include:

    • your full name
    • your supervisor’s name
    • title of your project
    • the captions “Deliverable One”

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    Portfolio Analysis Project Management Techniques

    Portfolio Analysis and Evaluation of Project Management Techniques

    Portfolio Analysis Project Management Techniques – The techniques and tools are significant for the effective project management. The Project management techniques are specifically making the overall management of the projects effective and easier. The project managers, software of project management and a range of project management aspect take their own techniques and tools that are likely to helpful for the projects to save the maximum cost and time. The problems can also occur in the project management. These problems related to the management of the project must be tackling effectively to complete the project on time without any delay.

    All of the problems and their substitute solutions set up some fundamentals of change in the project that must acclimatize. Projects are normally conventional to perform these changes the management of the project is responsible for the successful project completion. So, it is also important to know that each project is exclusive as far as the problems that occur are concern and the main concern and resources needed for it, the atmosphere in which it functions, and the attitude of the project manager to control and guide all of the activities of project. As a result, the project should be planned to fit all of the requirements of organization and the nature of the problems that needed to solve under the project (Seyr, 2019).

    The techniques and tools to be used in the project also depends on the organizational structure because depending on the nature of the organization the project available project personnel, resource, priorities, laws, and other possibility can also change. Implementing effective techniques of the project management reduce the disturbance of regular resources of the business activities by placing under a particular control on all technologies, skills required to understand the project. The analysis of the portfolio level is a significant part of organization a derivatives portfolio. The common types of portfolio analysis are Aggregated Cash Flows, Total Value, Value-at-Risk, Stress testing and Risk Sensitivity all of which are essential for effective portfolio analysis.

    Portfolio analysis in project management is a quantitative method for optimal portfolio selection that can balance between make the most of the return and reduce the risk in various indecisive environments. In this report there would be discussion regarding the tools and techniques and problems solving method in the project management (Rever, 2007).

    Critical Analysis of Tools and Techniques

    The project management is very demanding task with numerous complex responsibilities. Opportunely, there are a lot of techniques and tools are available to assist in tasks accomplishment and responsibilities execution. For example, some may need a computer with effective software, while in some of the projects the tasks can be management manually. Project managers need to select some techniques and tools for the project management that are more compatible with the style of management. There are some of the tools and techniques that can be applied to project management to optimize the overall operations of the project (Jackline, 2014).

    PERT Technique in Portfolio Analysis

    The PERT (Program evaluation and review technique) is a control and planning tool used for controlling and defining the responsibilities necessary for the accomplishment of project and is essential in effective portfolio analysis. The PERT charts are frequently used in the project. The PERT is an extensively used technique for development and large-scale projects coordination (Calmèset. al., 2021). PERT is essentially a tool for the management control and planning. It is also known as road map for particular project or program in which the most important elements have been totally recognized, with their equivalent interrelations’. The PERT charts are time and again built for a lot of projects, the end date is permanent and service provider has flexibility of front-end. A fundamental PERT-style planning element is to recognize the critical activities. 

    Following are the main steps involve in PERT planning:

    1. Identify the particular milestones and activities. The activities are the project tasks. The milestones in the process are events that mark the start and the ending of all activities.
    2. Verify the appropriate activities sequence. This step is connected with above one because the sequence of activity is obvious for tasks. Other responsibilities in the project may need some investigation to resolve the accurate classification in which they must be carried out.
    3. Build network diagram. By using the information of the activity sequence, a diagram of the network can be drawn that show the series of parallel and successive activities. Arrowed lines in the diagram stand for activities and circles symbolize the milestones of the project.
    4. Estimation time essential for all activities. Weeks are normally used time unit for completion of the activity, but reliable time unit can be utilized. An individual feature of PERT is its aptitude to handle the uncertainty in completion of the activity. For all activities, the model typically comprises three-time approximation:
      • Most likely time – time of the completion with highest possibility.
      • Optimistic time – shortest time to complete an activity.
      • Pessimistic time – longest time for an activity to complete.

    Critical Path Technique

    The critical path method is project management technique for planning of all process and defines the non-critical and critical tasks of the project with objective of preventing problems of time-frame and bottlenecks of project process. The critical path method is preferably suitable for projects that consist of a lot of activities that interrelate in a composite manner(Cohen, 2018).

    For critical path method implementation, there are quite a few steps that are as follows:

    • Define all of the required tasks and organize them in ordered list.
    • Create a diagram or flowchart that shows the relationship between different tasks in the project.
    • Recognize the non-critical and critical relationships between tasks.
    • Find out the projected execution or completion time for all tasks.
    • Devise or Locate substitute for the critical paths

    In case a critical path is not right away obvious, it might be helpful to find out 4 timelines for all activities (Ray, 2018):

    • EF – Earliest Finish time
    • LF – Latest Finish time
    • ES – Earliest Start time
    • LS – Latest Start time

    All of these times can measure by using the anticipated time for the activities. The initial finish and start times of activity are find out by forward working via network and formative the earliest time on which an activity can finish and start bearing in mind its predecessor actions.

    Gantt Charts

    Gantt charts in the projects are used to demonstrate task assignments of the calendar time in months, weeks and days. This tool utilizes graphic representations to demonstrate elapsed, start and finishing point times of task in any project. The Gantt charts are perfect for progress tracking in the project management. The days required to finish a particular task that achieve a goal can compared with the number that is either estimated or planned. The real workdays, from the start to conclude, are plotted underneath the days scheduled. In the project processes this information help in targeting the possible failure points or timeline slippage. These are also said to be the chats that serve as an important tool of budgeting and can demonstrate dollars spent versus dollars owed (Rever, 2007).

    Histogram

    Histograms are said to be the tool that use in the project to make understanding of the project easier for the project team. It is a kind of bar charts that portray variables distribution over time. This symbolizes the mean distribution. This diagram can use different shapes depending on the distribution condition. The histogram used to calculate something next to time for example the histogram plotted with variable on the x-axis and time on the y-axis. The following histogram demonstrates company’s website number of hits on different day time. The x-axis demonstrates number of customers or users active on website and time of the day shows on the y-axis (Osha. gov, 2018).

    Portfolio Analysis Flow Chart
    Portfolio Analysis Flow Chart

    Flowcharts

     In the project management flowcharts are rational steps in logical organization to achieve an objective. By using the geometrical objects, the flow charts are drawn as rhombus, rectangular, activities, parallelogram, and points of decision in a process. Flowcharting in the project can also help to identify where on project the problems of quality occur and how problems take place. There are said to be a lot of tools are there today in market for flow charts drawing, for example MS Visio, project management software etc. These techniques and tools are supportive for project manager to incorporate it and understand it and convey a quality product (Hiles, Andrew, 2010).

    Problem Solving

    In the project management a lot of problems also raise and it is important to deal with them effectively in order to minimize the risk of project failure and complete the project on time. There are some of the problems solving techniques to be used by the project management for better project accomplishment (Nowak et. al., 2020)

    1. Brainstorming. The first step in the project management to solve any problems is brainstorming, it means to think of different possibilities and techniques of solving the problems and what impact does selecting particular techniques would have on project.

    2. Patience. It is also very important to not get panic over the problems, in some of the cases the project management become frustrates with the problems occurring that can further increase the tension. It is essential for the project management team to be patient at the time problem occur. A patient approach would also help keep away from any error that further increase the problem additional issues would also raise.

    3. Apollo Root Cause Analysis. This is said to be the technique in the project management that acknowledge that the majority of the outcomes have numerous causes, and find out actions and conditions that might contribute to problem occurs.

    3. Data collection. By collecting more information related to the problems and way of its solution, project team members can develop more appropriate response.

    4. Consider the effect anticipated solutions for the problems in the project may have as a whole on project.

    5. Pareto Analysis. It is the generalized economy rule that 80 percent of the outcomes are get through 20 percent of work. It can also say that 80 percent of problems are caused by just 20 percent of root causes. Pareto was an economist who first comes up with this rule and the analysis produce a table of incidence of every cause and plot it on a bar representing cumulative total(Bragg, 2003).

    6. Process evaluation. Some of the Problems in the project management can be approach by dividing the systems into segment that can be investigate for the problem source.

    7. Fishbone diagrams. These diagrams look like a fish skeletal structure and chart causes to recognize effects while defect analysis. There are different questions are there used to build Fishbone diagram cause and effect based on whether question related to the problem deals with services. By imagine all cause and connected effect; managers can easily recognize the problems source.

    Risk Management in Portfolio Analysis

    The risk management objective is to make certain security never redirect the attempt from the established goals of the business. It is also said to be the process that comprise the recognition, prioritization and assessment of risk to manage the impact probability. Here are some of the risk management techniques to use in the project management (Clarizen, 2018).

    Identification

    The reorganization is the initial process idea that is to describe and uncover risks that might affect the project outcome. The major question to ask here is the reason behind the lack goal specification and thinking of risk is misperception. Recognizing a problem and discussing it is key to risk management process beginning(Allan, 2002).

    Qualitative Risk Portfolio Analysis

    The Qualifying risks an analysis is the method that is used to quality any risk that can occur during the project under this method involves making a list of the potential risks, with ranking them. For risks assessing from qualitative aspect following are some actions to be used (Clarizen, 2018):

    • Probability and matrix and impact assessment: Rating and analyzing risks using possibility and its impact on like schedule, performance and cost.
    • Risk categorization: Risks grouping by general root causes to build up effective reaction.
    • Risk urgency: The risk ranking from the matrix probability mutual with importance can help place priorities of these risks.
    • Expert judgment: Expert opinion from people in field or with alike experience project can also help in the accomplishment of the project.

    Quantitative Risk Portfolio Analysis

    These are said to be the methods that deal with definitive probabilistic and measuring techniques of project management. The major risk is risk of money losing and qualitative systems cannot be use to count the overall cost of the project. The following are some of the ways that can be used to minimize the risk associated with the project (Rever, 2007):

    • Schedule and Cost risk analysis: Cost scheduling and estimates are used as values of input that are randomly selected for the iteration.
    • Expected Monetary Value analysis: Measuring the average scenarios outcome that may or may not occur.
    • Probability distributions: It can be used in the simulation and modeling to correspond to the values uncertainty in things like the task labor and costs.
    • Analysis of Sensitivity: This is very simple method to find out how the risk is affects the project of any organization.

    There are a huge number of methods to “count” the project risk throughout the process analysis. Once measurement has happened, the planning final stages have to begin.

    Conflict Management

    Smooth/Accommodate Conflict Management

     The accommodate conflict management emphases agreement areas rather than difference areas; giving way one’s position to others needs to preserve relationships and harmony between the project team (Jackline, 2014).”

    This method also is acquainted with the professional relationships’ importance towards the success of project. As far as the long-term projects are concern, strengthening and persevering becomes very important for the project team. Nevertheless, the members of the project team are continually emphasized on differences, on the project making more of the progress becomes very complicated (Rever, 2007).

    Agreement areas to give emphasis to will also vary based on the situation. It can also be said that the project shared commitment and impacts of disagreement on others team members. The project management also needs to position agreement areas that surfaced throughout the project stages. Effectively using accommodating and smoothing requires considerate of the conflict between parties. For instance, are parties really distress about a project work being late. As a project manager, it is very important for successful accomplish the project to eliminate any kind off risk from the project (Rever, 2007).

    Quality Management

    The quality assurance process is connected with the nonstop analysis and development of process. Before this all levels of the quality must be verified, it is very important to have correct data; as there is an old saying, “garbage in, garbage out.” For that reason, the project team have to conduct a methodical analysis of measurement system to authenticate the integrity and accuracy of system of measurement and data. There are said to be a lot of components of the good measurement system (Clarizen, 2018):

    1. Precision – data is measuring precisely that is supposed to calculate
    2. Reproducibility – unlike appraisers same measuring item get the similar outcome
    3. Accuracy – the true value reflected by the data the property to be measured
    4. Repeatability – following measurements by same evaluator have to be the same

    Effort and time have to be made by the project team and project manager to make sure the credibility and accuracy of the system of measurement. The future decisions credibility depends on vital step of the quality assurance. The overall process analysis is said to be the quality assurance key aspect. This process analysis also comprises all of the topics of value-added analysis and root-cause analysis.

    Many of the project managers are well-known with the root-cause analysis, in particular use of fishbone diagram or cause and effect. This is very important to know that there is root-cause analysis is to take in five main categories: methods, people, measurement system, materials, machines, and setting when inspecting the sources of the problems occur in the project management. This is also very easy to focus on the greater part of improvement corrective and efforts measures on people. After all, administration decides on the procedures, methods, processes and materials so be confident about the investigation of the root causes in all of the above categories (Jackline, 2014).

    Portfolio Analysis MBA Project
    Portfolio Analysis MBA Project

    Conclusion

    Summing up the discussion it can be said that it is important to know that each project is exclusive as far as the problems that occur are concern and the main concern and resources needed for it. Implementing effective techniques of the project management reduce the disturbance of regular resources of the business activities by placing under a particular control on all technologies. PERT is essentially a tool for the management control and planning. It is also known as road map for particular project or program in which the most important elements have been totally recognized, with their equivalent interrelations.

    The critical path method is preferably suitable for projects that consist of a lot of activities that interrelate in a composite manner. The Gantt charts are perfect for progress tracking in the project management. The days required to finish a particular task that achieve a goal can compared with the number that is either estimated or planned. The histogram used to calculate something next to time for case in point the histogram plot with variable on the x-axis and time on the y-axis. There are some of the problems solving techniques to be used by the project management for better project accomplishment. Some of the Problems in the project management can be approach by dividing the systems into segment that can be investigate for the problem source. Rating and analyzing risks using possibility and its impact on like schedule, performance and cost.

    References

    Allan, A. (2002). Innovation Management: Strategies, Implementation, and Profits. Oxford University Press.

    Bragg, S. M. (2003). Essentials of Payroll: Management and Accounting. John Wiley & Sons.

    Calmès, Christian, and Raymond Théoret. “Portfolio analysis of big US banks’ performance: the fee business lines factor.” Journal of Banking Regulation 22, no. 2 (2021): 112-132.

    Clarizen, T. (2018, February 19). What Are Some Good Risk Management Techniques?

    Cohen, E. (2018, April 18). How to Use the Critical Path Method for Complete Beginners.

    Hiles, Andrew. (2010). The Definitive Handbook of Business Continuity Management. John Wiley & Sons.

    Jackline. (2014). Quality Management Tools and Techniques.

    Nowak, M., Mierzwiak, R., Wojciechowski, H., & Delcea, C. (2020). Grey portfolio analysis method. Grey Systems: Theory and Application.

    Osha. gov. (2018). Process Safety Management Guidelines for Compliance.

    Ray, S. (2018). Understanding Critical Path in Project Management.

    Rever, H. (2007). Quality in project management–a practical look at chapter 8 of the PMBOK® guide.

    Seyr, B. F. (2019). Portfolio Analysis in the Field of Strategic Knowledge Management. GAZDASÁG ÉS TÁRSADALOM, 2018(3–4), 54-66.

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    Risk Management Strategies MBA Project

    Risk Management Strategies

    Risk Management Strategies MBA Project. Risk management is the process of identifying and evaluating the possibility of threats that are posed to operations of an organization. Every organization is faced with challenges whose potential could negatively affect the business. In this regard, the mandate of the organization is to ensure that the risks are identified and evaluated comprehensively so that the best measures can be put in place to prevent a possible spread and damage of those risks.

    The management of risks in the operations of an organization includes making them a priority and coordinating resources to mitigate them and preventing damages that could come from them (Hopkin et al, 2018). These risks are posed to businesses and organizations from time to time, making it necessary for the respective organizations to come up with risk management strategies. In this report, the technical aspect of risk management in operations of an organization will be discussed in detail.

    Identification of Information Assets using Risk Management Strategies

    Every organization has information assets that are very important to them. They are tools of data that help the organization to run its activities and programs. Without the help of these information assets, it is not possible for the business to make progress and plans for the future. There are various types of information assets in a business that should be protected from risks. A lot of threats are posed to these information assets and hence the need to manage those risks. These information assets include;

    1. Trade secrets: Every business has unique features and secrets of trade that makes them different from their competitors in business. These trade secrets include designs, formulas, procedures, processes, techniques and methods of production and operations. All these trade secrets are documented and kept secure for the good of the business. To businesses that keep leading in the market place, their greatest competitive advantage is the trade secrets. They are very unique to the operations and undertakings of the business. (Rampini et al, 2019). They are therefore kept safe and secure so that they cannot be assessed by third parties and intruders. In this way, the organization’s leadership puts measures in place to prevent the risk of having these trade secrets leaked. They form part of the most sensitive part of information assets within an organization and they are also not made available to every member of the team. They can only be accessed by the crucial and relevant team to avoid the aforementioned risk.
    2. Strategies: Every organization has a strategy and a plan that outlines the goals and objectives of the company. They are kept as secret to act as pointers of direction towards a projected future. The quality of those strategies and plan determines the highest level of success and influence that a business can ever command in the marketplace. This piece of information asset is therefore very important to an organization. They help them to understand what is expected of them in every step of the way. The risk of having such information leaked would deprive the organization the chance of leading because the strategy could be implemented to the advantage of a competitor.
    3. Support decision: This is one of the most important parts of information of the organization as far as data assets are concerned. It entails the decisions made the leadership of the organization and the decisions they make from time to time. All the styles of leadership and decisions of progress made are documented in this piece of information asset. There is therefore need to keep such information confidential and out of bound by intruders and third parties. It is very risky to have that information hacked because trade secrets and strategies would be accessed as well. The only way to manage such a risk is to improve security of the network systems and keeping the information with the radius on only relevant staff (Dang, et al, 2014).
    4. Marketing media and techniques: To every organization, there is a marketing team that creates awareness of the brand to the market. Each team has its own techniques that keep them relevant in the pursuit of advertisements. In this way, the secrets of marketing have to be kept safe so that they are copied and implemented to favor competitors. The marketing media therefore and all their details are kept very safe and there is need to manage every threat can could be posed to them. Most marketing videos and posters of advertisement do not carry the trademark because they are raw and specific to the awareness they are intended to create (Louche et al, 2017). To prevent a case where they are tampered with or even stolen, managements ensure that they remain a top secret and safely kept within the organization data. This is done to ensure that all possible risks are mitigated and managed effectively.
    5. Trademarks and copyrights: No matter how successful a business or an organization is, they are nothing without trademarks and copyrights. Every competitor is out to make a kill and the malicious ones don’t mind doing it the wrong way. One of the wicked encounters that face businesses and organizations is not securing their brands from trademark and copyright infringements. It is very necessary to ensure that the business and its copyright are secured through legal procedures that are within the jurisdiction of the rule of law. In this way, there will be consequences to everyone who tries to tamper with them. If the legal processes are well followed in this regard, the aforementioned risk is managed and mitigated.

    Weighted Factor Analysis

    This refers to the techniques used by businesses and organizations to assess and audit competing alternatives against each other before implementation. Every implementation especially regarding management of risk is evaluated comprehensively against other possible choices so as to come up with the most appropriate method. It is very important to ensure that proper auditing of alternatives is done before implementation. In risk management, weighted factor analysis is followed before the final decision is made on which path to go (Al-Zuheri et al, 2019).

    In the decision-making process for instance, the management will assemble all the listed ideas concerning the best method to mitigate risks. Decisions are not just made without the process of weighted factor analysis. Members of the group might be required to come up with a strategy that would help the organization overcome various challenges. In this respect, they issue their opinions to the management for assessment. This is where the weighted factor analysis procedure comes in. after the various operational evaluations, the leadership of the business or the taskforce given that mandate can make a final decision and that will be the most appropriate in risk management.

    The management of the company does not rely on analysis opinions of the members alone. They also engage the leadership team in the process through focus groups and individual assessments. They are allowed to showcase their beliefs and ideologies concerning matters of risk management and possible threats. This is a very important procedure because it puts the two groups under scrutiny and the idea is to assess the most appropriate idea to follow. They can assess and distinguish between the appropriate of ideas given by members against those given by the management. They also assess the possibility of future outcomes and the ideas that were relevant in successfully fighting former risks in business. After that, they are able to make the right decisions that will help in the mitigation of risks and their management (Cohen et al, 2019).

    Risk Probability and Impact

    Probability of risk is the likelihood of a threat to the business that carries a series of impacts with it. The probability of risk is always assessed and understood by the organization before it is made a priority. The probable risks fall under the category of operational risks, credit risks, market risks or even liquidity risks. Some of the risk probabilities and their impacts are discussed below.

    1. Loss of suppliers and customers: No matter how influential a business can be, it is not functional without suppliers and customers. These two pillars are the working engine of business because it cannot be operated with suppliers and customers. Worse still, it is not possible to operate with one without the other. Businesses therefore need to need to check on all possibilities of losing these two important pillars of business (Wang et al, 2013). The impact of losing them would capsize the business and leave it on its knees. Businesses are not able to operate and the result could be to shut them down.
    2. Natural disasters: Some occurrences are very unavoidable and human control is almost irrelevant. Floods or fire damages are possible risks that face businesses from time to time. Diseases and sicknesses like the current global pandemic of corona virus have brought economies of most businesses to their knees. Some of the business risks from natural disasters are unprecedented and it is important to mitigate the risks as much as possible. The impact felt from these disasters is that businesses lose control and focus. Customers change priorities as they focus on cushioning themselves against those disasters. Nonetheless, the flow of supply and items is affected to a great extent making it hard for businesses to maintain momentum of operation (Lawler et al, 2019).
    3. Bankruptcy and financial loses: Working capital in most businesses is borrowed from financial institutions. Some businesses thrive on those loans and are able to pay them back. However, there is a risk possibility especially when they are not able to clear those debts. More so, business has very many shades and circles that affect its operations and profit making strategy. They are supposed to be managed in the most possible ways and convenient times (Jung et al, 2017). The overall impact of this possible risk is shutting down of businesses, auctioning of property, people losing jobs and filing for bankruptcy.

    Acceptance Risk Control

    Acceptance risk control is the deliberate approval of strategies put in place to manage risks. There are various processes that the management of an organization uses to implement decisions that pertain to the risks identified and their possible threats. Every taskforce within an organization has the mandate of coming up with the best strategies of risk management and mitigation so as to spearhead approval through acceptance risk control (Rampini et al, 2016).

    Risk Management Strategies Dissertation
    Risk Management Strategies Dissertation

    To accept risk control comes in various shapes and sizes. A good example is avoidance of a certain agenda. If an organization was overspending on budgets, the possible risk is loss of finances whose aftermath would be chaotic to the whole business. There are other negative operational strategies that don’t make economic sense according to the management. The acceptance risk control measure in this case will be to avoid the strategy. Avoidance helps to manage the risk and come up with alternatives methods of operation. This has everything to do with taking action to ensure that all the risks are managed.

    Transference and change of tact is part of acceptance risk control. Nothing saves the business from losses and risks better than this tack. Accepting the control measure is simply characterized by action and management-oriented practices. There is transfer of operations within the group and the taskforce is supposed to ensure that the measures put in place can eliminate the probability of extended risks to a great extent. Mitigation techniques are very important at this stage and this call for massive action to curb the threat of various business risks. It is recommended to use the most appropriate methods to ensure that the risks are mitigated through control acceptance (Giannakis et al, 2019).

    Microsoft Risk Management Approach

    This refers to the technical aspect of risk management strategies and the approach taken by an organization within a network system. There are various security baselines that need to be protected from cyber threats that have been advanced with technological improvements. The possible risk control management approach is to ensure that the best has been done to secure the systems of cyber threats. The approach is to put measures that can possibly deal with cyber crime and that have an aspect of security. These approaches are specific to the intended use as described below.

    Putting Up Security Firewalls

     Installation of firewalls on computers is important in securing a network system from threats of attacks. Every business faces the danger of being attacked by cyber criminals through malwares and malicious virus (Aven et al, 2016). These viruses are dangerous and they might hack a lot of details that would otherwise cripple the business.

    Educating the Team of Cyber Threats

    The management should ensure that all members working in their various teams are enlightened on how to avoid these risks. They are supposed to be taught how to control threats like phishing attacks and avoiding to open strange emails, attachments of following suspicious links to avoid entertaining the possibility of installing viruses on computers without knowing.

    Keeping Confidential Information Safe

    There are very important pieces of data and information that should be kept safe. These pieces of information include trade secrets, trademarks & copyrights, support decisions, strategies and plans and organizational goals and objectives of the projected future. Legal licenses, list of customers and suppliers and financial database also falls under this category. These forms of information should not be let loose to members they don’t concern. They should be kept confidential to avoid the threat of leakage which could otherwise be used to plot a second stage attack to the organization (Giannakis et al, 2016).

     Factor Analysis of Information Risk

    To every organization, the magnitude of risk posed to them can only be controlled is factor analysis of information is put in place. A lot of data within an organization is at risk considering that the cyber criminals know that it is the epitome of the organization. There is therefore need to have the best mechanisms in place so as to assess the risk that comes with information assets. The aforementioned information assets are supposed to be secured and the best way to do that is through factor analysis.

    Accurate possibilities of risk management can only be enhanced through factor analysis. It is not possible to have the best proposal of solutions and this can only be achieved if the analysis is done comprehensively. The assessment of these risks follows a certain pattern that is prominent to the organization in question. In most cases, the proximity of a successful endeavor is determined by the factor analysis of information risk (Leisen et al, 2019).

    Information assets are the greatest pillars the organization. They hold the company together through documentation of data that is crucial to the organization. To avoid loss of such data, the most appropriate methods should be put in place to ensure that risks are mitigated in the best ways possible. This can only be achieved if the management is willing to implement factor analysis of information risk.

    Conclusion

    In conclusion, robust risk management strategies are very important in business. Risks are bound to occur in groups, companies and organizations from time to time. They present in various forms and high-level mitigation is required to avoid getting overwhelmed. In the above-mentioned recommendations, risks can be managed and mitigated effectively if followed through. The quality of business standing and its relevance and longevity in the marketplace is determined by how well risks are managed. In fact, the ability to manage risks in business effectively is a competitive advantage.

    References

    Hopkin, P. (2018). Fundamentals of risk management strategies: understanding, evaluating and implementing effective risk management. Kogan Page Publishers.

    Cohen, D., Plonsky, O., & Erev, I. (2019). On the impact of experience on probability weighting in decisions under risk. Decision.

    Aven, T. (2016). Risk assessment and risk management strategies: Review of recent advances on their foundation. European Journal of Operational Research253(1), 1-13.

    Rampini, A. A., Viswanathan, S., & Vuillemey, G. (2019). Risk management in financial institutions. The Journal of Finance.

    Giannakis, M., & Papadopoulos, T. (2016). Supply chain sustainability: A risk management approach. International Journal of Production Economics171, 455-470.

    Lawler, S., & Bright, D. (2019). ‘It’s just business’: Leaders’ strategies for risk management in criminal networks. In Criminal Networks and Law Enforcement (pp. 55-74). Routledge.

    Dang, Q. T., Jasovska, P., & Rammal, H. G. (2014). International business-government relations: The risk management strategies of MNEs in emerging economies. Journal of World Business55(1), 101042.

    Wang, L., & Ahsan, D. (2013). Stakeholders’ perceptions on risk and risk management strategies: the case of Chinese dock-less bike-sharing enterprise. International Journal of Green Economics13(2), 146-165.

    Louche, C., & Idowu, S. (2017). Innovative CSR: From risk management to value creation. Routledge.

    Clarke, J. E., & Liesch, P. W. (2017). Wait-and-see strategy: Risk management strategies in the internationalization process model. Journal of International Business Studies48(8), 923-940.

    Al-Zuheri, A., Amer, Y., & Vlachos, I. (2019). Risk Assessment Strategies and Analysis of Healthcare System Using Probability-Impact Matrix. Nur Primary Care3(4), 1-4.

    van de Water, S., van Dam, I., Schaart, D. R., Al-Mamgani, A., Heijmen, B. J., & Hoogeman, M. S. (2016). The price of robustness; impact of worst-case optimization on organ-at-risk dose and complication probability in intensity-modulated proton therapy for oropharyngeal cancer patients. Radiotherapy and Oncology120(1), 56-62.

    Jung, Y. S., Park, C. H., Kim, N. H., Lee, M. Y., & Park, D. I. (2017). Impact of age on the risk of advanced colorectal neoplasia in a young population: an analysis using the predicted probability model. Digestive diseases and sciences62(9), 2518-2525.

    Leisen, R., Steffen, B., & Weber, C. (2019). Regulatory risk and the resilience of new sustainable business models in the energy sector. Journal of cleaner production219, 865-878.

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    Globalization and Outsourcing

    Globalization and Outsourcing

    Globalization is a phenomenon that has swept across most sectors of the globe leaving firms to adjust to the changes that are occurring. The rise of competition Is one example of an aspect that has emerged within the twenty-first century, especially due to a dissolution in trade barrier that marked numerous markets as impenetrable. With globalization escalating gradually, businesses have gained an exposure opportunity to learn more as well as share tips on better ways of approaching futuristic growth. The following report will expound on globalization as a phenomenon, as well as its associated impacts within the modern day era. 

    From an entrepreneurship perspective, the duties and functions that defined the modern-day capitalist or businessperson, have significantly complicated with time. Ideally, the 21st century, unlike its predecessors, has been defined by a revolutionary economic, educational, political, and social landscapes, elements that have emerged as a result of globalization.

    Interestingly, the emergence of the phenomenon has transformed the manner in which man does business, given that it has erased the limitations that were nurtured by geographical borders as well as trade barriers, an aspect that has resulted in man embracing new synergies that will offer him or her competitive advantage over other similar players in the same market niche. The following report will further expand on wise investment moves as well as tactics such as outsourcing and offshoring that managers can apply to realize a wider economy of scale as well as achieve a greater competitive advantage. By utilizing the Case study of Telstra Call center services Outsourcing and offshoring, this report will expound on the impact, opportunities, as well as challenges, Globalization, and its associated strategies, have imposed on business operations especially on the global scale.

    The World as we know it is currently evolving at unprecedented levels, an aspect that is reconfiguring and transforming the manner in which business, as well as trade, is conducted. As a result of the rampant transformation, goods and services have become easily accessible for most people across diverse regions of the globe. In addition to this, the international business community has continuously expanded as a result of favorable influences that have been nurtured by the economic reconfiguration and transformation. But, what is all this economic reconfiguration and transformation? The 21st century, unlike its predecessors, has been defined by a revolutionary economic, educational, political, and social landscapes, elements that have emerged as a result of globalization. The emergence of globalization as a phenomenon has transformed the manner in which man does business, given that it has erased the limitations that were nurtured by geographical borders as well as trade barriers (Beck, U. 2018, P. 35).

    From an entrepreneurship perspective, the duties and functions that defined the modern-day capitalist or businessperson, have significantly complicated with time. Why and How? With factors such as competition escalating as a result of the globalization aspect, most entrepreneurs have embarked on redefining the rules of trade and business engagement provoked by the need to craft and embrace new synergies that will offer them competitive advantage over other similar players in the same market niche (Hay, C. and Marsh, D. eds. 2016, p. 52). As a result of the shift in momentum, it is crucial to note that today’s economic environment has shifted its dependency from the public sector to the public sector, given that the later has emerged to be the global powerhouse, while the former segment has continuously shrunk in size, cumulatively losing its prior influence and relevance in the economy setting.

    Globalization and Expansion

    In spite of Globalization nurturing numerous advantages from an economic growth perspective, it is crucial to note that the phenomenon has also escalated the rate of competition present across all trade sectors. The given aspect has manifested as a result of numerous entities across diverse regions entering the market, with each unit producing a similar commodity, to an already existing product. The escalation of competition has provoked most organizations to invest heavily in expanding their operations onto a global scale, efforts that have emerged based on the need to grow and expand the market niche that each organization claims and controls (Beck, U. 2018, P. 27). As an approach, the expansion to international markets has provided firms with an opening to increase their returns, realize other potential economic opportunities, as well as improve their image perception and brand loyalty. Although there are also challenges associated with the entry into foreign markets, the manner in which a venture tackles the emerging challenges significantly determines its survival chance in the new territory.

    Outsourcing and Offshoring

    Outsourcing is a strategy that has been employed by numerous institutions, which have pursued the global expansion route, based on its cost-cutting approach. When entering new markets, firms have always been primarily challenged by their ability to adopt, embrace, and conform to new customs, cultures as well as language that define the new market (Solli-Sæther, H. and Gottschalk, P. 2015, p.90).

    Outsourcing as a platform provides a solution to such challenges among others, by utilizing the local manpower within the new economic niche as the organization’s workforce. The following report will expound on globalization and its impact on today’s businesses as its foremost agenda. Furthermore, this paper elucidates on tactics that managers pursuing expansion into the international market should observe if they wish to remain ahead of the game. In the second segment, the publication will analyze outsourcing and offshoring, coupled with their contribution to globalization, based on an Australian firm Case study.

    Globalization and Today’s International Managers

    Globalization as a concept is not new as one may perceive it to be, given that the concept has existed for centuries, only evolving with time to its present state. By definition, Globalization is a term that refers to the gradual but global integration of the numerous states economies, through the production of goods and services, trade escalation, as well as investment flows (Hay, C. and Marsh, D. eds. 2016, p. 11). From a phenomenon perspective, globalization emerged as a result of the global outreach fever that swept most nations, transgressing through each of the states military economic, trade and geopolitical niches. The cumulative impact of the global outreach manifested in the erosion of national economic borders, an element that embraced the emergence and growth of integrated international economies.

    From a profile perspective, globalization has been defined by; the emergence of global corporations, robust internalization of production related economic activities, growth in the level of specialization, and escalating disaggregation of production. How has this been possible? Globalization as a phenomenon has consistently relied on policy changes as well as technological growth as catalyst platforms (Teece, D. Peteraf, M. and Leih, S. 2016, p. 19).

    From a policy perspective, the creation and amendment of numerous trade policies has resulted in the dissolution of trade tariffs and barriers, an element that has opened up and exposed the local markets to international products, while also local products from different nations have been able to trade on the global market platform (Beck, U. 2018, P. 42). Evidently, nations such as Australia, China, and Dubai, all of which opened up their markets to trade and embraced international brands, have gained immensely from Globalization, an aspect that is visible in each state’s current market situation. 

    Technology as the second catalyst factor propelled the evolution of globalization to what it is today. How So? As a result of its rampant evolution, technology has been integrated into man’s life as a crucial platform in his civilization. The emergence of a technology-based lifestyle, shifted the manner in which consumers’ access, shop, and order for their products, as well as the strategy in which manufacturers, industrialists, and producers advertise, retail, and distribute their products (Hay, C. and Marsh, D. eds. 2016, p. 52). Given that the dependency on technology is still expected to escalate with time, the business world has realized of its importance in globalization and the influence it imposes in the productivity, of goods and services as well as the consumption of the products.

    Impact of Globalization: A Business Perspective

    Globalization as an economic exposure platform has brought along with numerous advantages as well as implications both from the producer as well as consumer’s perspectives. When focusing on the producer side, which primarily made up of entrepreneurial organizations within the private sector, it is crucial to note that globalization has exposed the sector to competition, fluctuation in prices, as well as the substandard quality of products (Kraidy, M. 2017, p. 31). The following segment will offer an in-depth view of Globalization from a business perspective.

    It is crucial to note that from the consumer’s end, globalization has been perceived to bear numerous benefits over time. However, that may not be necessarily the case when the aspect is perceived from a business perspective. The increased exposure of markets has also escalated the vulnerability of ventures both in local and international economies to a myriad of unforeseen risks, aspects that will be expounded on below.

    Globalization and Outsourcing Dissertation
    Globalization and Outsourcing Dissertation

    Intense Competition

    Competition as the first impact of globalization emerges from the opening up of local markets as well as the integration of economies. It is crucial to note that exportation and importation, as well as outsourcing of product and services are crucial aspects of globalization. Unfortunately, the given elements have created an influx of substitute commodities to most products in diverse markets (Donati, P. 2017, p. 15). The cited aspect which has emerged as the entry of new players into the market culminated in the escalation of competition between existing firms and the new entrants. Cumulatively, although the approach has compelled previously existing firms to improve their quality of products and services, it is unfortunate to note that the cost of competition has been overwhelming for firms in markets that are defined by numerous players.

    Price Fluctuations

    Fluctuation of prices as the second impact of globalization is highly associated with competition and market saturation. It is crucial to note that although globalization opened up local and international markets, the platform also led to the saturation of various markets that were already defined by a presence of numerous existing local players. Most of the international entrants into local markets were able to supply the consumers with alternative or substitute commodities, to local options at a lower price and even a better quality (Teece, D. Peteraf, M. and Leih, S. 2016, p. 27). Case in point, China’s products are renowned for their cheap price, although inconsistent quality. The given aspect nurtures price fluctuation of commodities because local producers will always be compelled to adjust their prices in a bid to compete with foreign producers, and the cost of their commodities, an aspect that culminates in the unsteady prices of goods.

    Substandard Quality of Goods

    The quality of a product as well as the brand it has crafted for itself, are aspects that significantly shape customer loyalty and satisfaction. Globalization as a phenomenon has compelled most firms operating in the international platform to outsource their products to developing nations, in a bid to realize a wider competitive advantage, margin when compared to other firms operating in the same niche (Kraidy, M. 2017, p. 22).

    The downside of outsourcing is that for most organizations, the ability to observe a given set of quality standards becomes impossible especially when the firm focuses on offering services, or manufactured goods. Cumulatively, although globalization is inevitable, its impacts can be positive as well as be overwhelming for organizations without adequate control structures. The following segment will expound on strategies that international managers can adopt in a bid to remain afloat if not advance in the face of stiff and harsh globalization-induced changes.

    Today’s International Managers: Winning tips amidst fierce competition

    Drawing from the above analysis of globalization, it is evident that the phenomenon has significantly reshaped the manner in which organizations functions, and conduct business, especially within the international market platform. In spite of the prevalent changes, there are several tactics that wise international managers can utilize to continuously attain growth in returns, and market share. In addition to this, the tactics will enable an organization to establish a reputable image that retains a wide base of loyal customers.

    Globalization, Identifying and analyzing the existing and potential Competition

    For an organization to stay ahead of its competitors within any market niche, the firm should be aware of the existing threats, an aspect that can only be realized by conducting a thorough competitor’s analysis. It is crucial to note that any industry with new players and startups joining every day is considered to aggressively active, and as such, any firm operating within such a niche should consistently update its analysis in a periodical manner (McLean, M. 2018, p. 35). When analyzing the potential threats, it is crucial to identify the primary and secondary competitors as well as the level of threat each player imposes on your particular firm. By doing so, a manager can analyze the strengths and weaknesses of potential and existing competitors, in addition to making strategic moves that will consistently position the organization ahead of the competition. 

    Assessing and Understanding the Target Market

    In any business competition, it is crucial to note that the clients or consumers always represent the judges, as their choice embodies their final opinion about their desired product. In any market niche, a wise international manager will always assess the audience, its expectation, and needs, as well as demands. It is crucial to note that consumer behaviors keep on changing depending on the influence of macro factors such as economic conditions (McLean, M. 2018, p. 54). In such an instance, an astute director establishes constant communication with the organization’s existing and prospective clients, as an approach to remain informed and update on consumer concern, predictions as well as desires. By doing so, a firm can adjust its product pricing, market strategies, product packaging, and promotional campaigns in a manner that will attract potential clients and retain the existing ones.

    Outsourcing and Offshoring, Telstra Case study

    Outsourcing, when defined, refers to the process whereby a firm subcontracts the organization’s tasks and mandates to various external organizations that have specialized in providing the desired service. In other cases, outsourcing also involves a practice whereby an organization acquires a smaller firm with adequate resources and employees to run its tasks. Cumulatively, outsourcing revolves around the breaking down of a given function, and it’s subsequent assigning to third parties (Oshri, I. Kotlarsky, J. and Willcocks, L. 2015, p. 15).

    Offshoring, on the other hand, refers to the purposeful relocation of a specific or cumulative business procedure to another new location, such as a country. A good example of offshoring would be when an industrial firm physically relocates its manufacturing process to a new state. The main difference between offshoring and outsourcing is that the former focuses on establishing an operation in a new state as a result of repositioning, while the latter primarily refers to the subcontracting of a firms’ task or duty to a third party which in most cases is usually an external organization (Solli-Sæther, H. and Gottschalk, P. 2015, p.90).

     The fierce aspect of globalization has compelled firms’ overtime to search for innovative and alternative approaches to getting the work done efficiently. Outsourcing and Offshoring have emerged to be promising alternatives means of meeting the production needs of any company. By employing the two approaches, numerous international firms have been able to regulate and cut down operational costs, free up internal resources to support other crucial sectors, and streamline time-consuming functions (Oshri, I. Kotlarsky, J. and Willcocks, L. 2015, p. 48). 

    Telstra Outsourcing

    Telstra within Australia is presently recognized as the largest media and Telecommunications Company, offering services that include; operating telecommunication network, as well as a vast range of entertainment and communication product and services. As a firm, Telstra prides its purpose to be creating a brilliant and connected future for everyone, a vision it has managed to achieve over time through the expansion of its products and services towards the international telecommunications market.

    Expanding into the international market is a move that Telstra implemented provoked by the need to grow the company’s portfolio onto the next level, in addition to embracing the global market platform (CX Central. 2018b, p1). In its expansion operations, the firm has gradually relied on outsourcing and offshoring as approaches to realize its economies of scale and competitive advantage over other players present in the telecommunications industry. One particular and crucial department that the firm has constantly outsourced and offshored to India, Manila, and Perth is its call center operations (CX Central. 2018, p1).

    Essentially, under the firm’s international operations plan, Call centers are usually overwhelming departments that are defined by large volumes of low severity type of work. If the firm was to house most of call center operations within its main headquarters back in Australia, evidently quite extensive resources would be committed to the department, to the extent of overwhelming significance performance targets of the institution. Thus by outsourcing and offshoring call center services, the firm is primarily able to focus its resources on dealing with challenging and more severe issues affecting its product portfolio, brand depiction, and customer market base (CX Central. 2018, p1).

    Challenges of Outsourcing and Offshoring

    Two of the major challenges that Telstra has realized in its international expansion conquest, are cultural and language barriers. As a telecommunication firm, Telstra is constantly in touch with its customer base compelled by the need to introduce and sell new products, as well as offer supportive services (CX Central. 2018b, p1). Given that the firm opts to outsource and offshore its call center operations, most of its customer base across the western world have been complaining of an ineffective call center support base, as in most situations their needs and demands have often been unmet (CX Central. 2018b, p1).

    One good example was a recent scenario, where an American customer received poor call center support services that were perceived to be abusive and culturally insensitive, especially after the firm had withdrawn its support for same-sex relationships (CX Central. 2018, p1). It is unfortunate to note that the given aspect resulted from a conflict in cultural and linguistic customs between the firm’s support staff and a worried client, an aspect that could have been deterred if the firm offered locally based call support from America or Australia.

    Globalization, Outsourcing and Offshoring Opportunities

    From an opportunity perspective, Telstra was able to run its call center support services at a lower cost especially given that the standard labor wage of employees in most of the countries that the firm outsourced its operations are way below what Telstra was offering its initial employees. Additionally, the firm, thanks to outsourcing and offshoring was able to free up more resources back at home and commit them to more severe and demanding issues associated with the firm’s growth and future projections.

    In conclusion, it is evident that Globalization is a phenomenon that is here to stay. More so, firm’s that do not embrace this occurrence will gradually become outdated in our ever-changing and first paced world. As economies integrate, there is a crucial need for managers to begin “thinking out of their market niche, and across the globe.” Customer preferences change from time to time, and with that being a significant determining factor of choice, firms should consistently lay down moves that will secure more potential customers besides retaining the existing ones. Additionally, with competition emerging to be a significant defining factor of today’s markets, there is a pressing need for firms to adopt positive elements of outsourcing and offshoring, besides other competition analysis schemes, all in a bid to remain ahead of the curve that is a saturated market full of numerous existing and emerging start-up players. 

    References

    Beck, U., 2018. What is globalization?. John Wiley & Sons.

    CX Central. 2018. Telstra call centre staff in Perth have language problems – CEO | CX Central.

    CX Central. 2018b. Telstra’s offshore call centre has a cultural alignment shocker– CEO | CX Central.

    Donati, P., 2017. Globalization of Markets, Distant Harms and the Need for a Relational Ethics. Rivista internazionale di scienze sociali, 1(1), pp.13-42.

    McLean, M., 2018. Understanding your economy: Using analysis to guide local strategic planning. Routledge.

    Oshri, I., Kotlarsky, J. and Willcocks, L.P., 2015. The Handbook of Global Outsourcing and Offshoring 3rd Edition. Springer.

    Solli-Sæther, H. and Gottschalk, P., 2015. Stages-of-growth in outsourcing, offshoring and backsourcing: Back to the future? Journal of Computer Information Systems, 55(2), pp.88-94.

    Teece, D., Peteraf, M. and Leih, S., 2016. Dynamic capabilities and organizational agility: Risk, uncertainty, and strategy in the innovation economy. California Management Review, 58(4), pp.13-35.

    Kraidy, M., 2017. Hybridity, or the cultural logic of globalization. Temple University Press.

    Hay, C. and Marsh, D. eds., 2016. Demystifying globalization. Springer.

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    Huawei Operations Management Concepts

    Huawei Operations Management Concepts and Practices and their Application in Real Business

    Huawei – Operations management has been expanding to a broader notion of service and production management hence signifying the principalities of operations management concept in the transformation of raw materials to finished good ready for delivery to the consumer. The increasing recognisability and importance of operations management in organisations have led to growth and exploration of techniques and concepts fundamental in production and service delivery. Therefore, the effectiveness and efficiency of operations and service delivery in organizations are determined by how well they apply operations management concepts and practices in their endeavor.

    Operations management scope ranges across various enterprises where people are involved in production and service delivery activities such as product and service design, technology selection and management, system design, process selection, quality improvement etc. (Kunchala). These concepts and functions entail many interrelated activities including scheduling, quality assurance, inventory management, capacity planning etc. fashioned toward effective and efficient production and delivery of goods and services.

    Huawei Technologies Corporation, being among the leaders in the production and sale of mobile devices, they need to maintain a high-end operations management through the application of the latest and best operations concept in operations management. Besides, various factors necessitate the organization to facilitate streamline operations management. These factors include the quantity and quality of production, market diversity, change in technologies, competition, and the ecosystem.

    Huawei, for instance, is inculcating the user-centric operation initiative which is aimed at digitizing their product while improving quality and user experience. This, therefore, entails the use of market research in their quest to deliver quality products which are user-friendly and well-paced with trend and technology (Huawei). Since the organisation uses make to deliver production approach, their market research should involve an in-depth analysis of the consumer preference and inculcate them during the planning, design, and production of various products.

    The organization applies a generic and multistep product development process where they are technologies pushed product and platform products. For instance, the production of the Huawei GR5 product was a platform product as it was built around the pre-existing technology subsystem of the Huawei GR3. Besides, the Huawei Y series is built along a product platform where they use already pre-existing technology. Due to the overly increasing enormity and complexities due to technologies advancement, Huawei, therefore, enhances management transformation as they resort to a lean operation to accommodate customer requirement to improve production efficiency while controlling costs.

    To cope with the competition and rapidly changing technologies, the organization applies the quick-build products which entail the rapid modelling and prototyping. To achieve a seamless and quality production, the organization integrates the operations and management organisation with the resources, platforms, and expertise through centralized processes. (Mingwei, Yaling & Feixiang) This highlights the importance of the effective layout decision within the organization.

    Facility layout is essential in the realization of a seamless and lean production process in the Huawei Corporation. This entails determining of the arrangement and placement of workgroups, workstation, departments, inventory etc. to reduce possibilities of waste such as motion, movement, inventory, and quality accruing. It is worth noting that Huawei implements a Quality First strategy as they seek to enhance sustainability in materials and suppliers through performance appraisal.

    As a contract manufacturer, Huawei has a high-end procurement decision-making team aimed at strengthening customer and supplier’s sustainability. For instance, the organisation has posited a procurement quota to enhance supplier sustainability hence minimizing the risks in supply while facilitating customer satisfaction hence boosting supply chain a competitive advantage. The organizations evaluate supplier eligibility based on compliance with the established supplier Huawei Supplier Sustainability Agreement, laws and regulations.

    Further, the procurement process in Huawei is value oriented which entails adhering to the supplier’s regulations, transparency, and scientific procurement which is aimed at building a seamless and healthy s(secure, reliable, and competitive) supply chain. Besides, to facilitate the procurement process, Huawei facilitates a joint innovative, strategic cooperation with a win-win and benefit sharing process. This is achieved by enabling and encouraging mainstream partners to engage in the initial stages of product research and development to assure supply and competitiveness during the process (Tao).

    Huawei Operations Management
    Huawei Operations Management

    Being a contract manufacturer, the organization needs to outsource various parts and or services and maintain robust industrial relations to enhance operational efficiency and effectiveness. This is critical as it enhances reasonable profit distribution within the industry thus ensuring key partners and suppliers gain sizeable and reasonable profits hence enhancing a success shared, competitive, and sustainable supply chain. A comment by Huawei’s Consumer Business Group chief, Yu Chengdong, “We are laying out plans for all our key smartphone parts. Huawei might not manufacture these components directly, but it does not mean we do not own technology to manufacture them ourselves” indicates the commitment and appreciation by Huawei to outsource their non-core competencies and dwell on competency for efficiency and effectiveness in their operation after the flash memory incident (Tao).

    Additionally, while the organization seeks to facilitate lean manufacturing which is eco-friendly and sustainable, the organization should conduct regular value analysis and sensitivity analysis. These analyses are essential as they enhance the better performance while adhering to customers’ requirement. Lastly, Huawei has prioritized quality as the quality control department is fashioned to make the products synonymous with high quality. The objective is Huawei to win on quality through provision of high quality services and products consistent with their requirements.

    MI global started operating in an already competitive market across China and the world. Various challenges culminated which had led to the organization to fall to a ‘unicorns’. Initially, the organization faced a slump supply chain associated with the rapid organizational growth which made the organization to retreat from overseas markets. Additionally, Mi had several organizational challenges that critically influenced their operations hence overall performance.

    The organization has facilitated their design and manufacturing process through the application of an innovative business model which differentiate itself from other manufacturers at every phase of the customer journey. First, the organization has facilitated the production and development process of their products as depicted by their CEO, Lei Jun as “Mission Impossible.” Their manufacturing process is unique as they do not have a single physical factory as compared to Huawei which indicates a radical shift from the traditional approach in inventory management. This is vital toward the achievement of lean manufacturing as wastes are reduced in the production process. Xiamo’s make to stock production process inculcates customer requirement as depicted by the research and development process (Wang). The organization adopts a different strategy to reach client which entail cloud sourcing and application of social community to create awareness while at the same time gather information from the customers.

    Different organizations have varying strategies and operations in their manufacturing and distribution. In comparison with MI, both organizations applied quick bound product development process where sample and prototypes are designed which includes the mix of the shape and the identity of the line design while depended on the outsourcing various components. Therefore, Huawei and Mi can be described as contract manufacturers.

    Mi started operating in an already volatile and competitive market which necessitated differentiation. First, the organization MI Global prompted to restructure their operations through the adoption of more seamless and effective operation management practices. For instance, they restructured their smartphone hardware, supply chain, quality management as well as Research and Development initiative. Besides, the marketing of the end product and delivery to the consumer was exclusively online which made it inaccessible to many less tech-savvy clients (Kline). The organization had to implement therefore a unique and multistep production system which was more platforms based to facilitate production and supply. After their fall, the organization has become one of the super houses in tech in China competing with Huawei. In contrast, Huawei’s also invested greatly in research and development but they had a different marketing strategy which was both through outlets and online platforms.

     Besides, the production design and development entail outsourcing of various components including processors, casing, or camera from other organization for profound and seamless manufacturing. This process culminates with detailed quality tests which are critical in value and sensitivity analysis. Each phase of product development is closely monitored, and any mishap is remedied accordingly before mass production and supply of the product to the final consumer.

    Additionally, Xiamo has been a market leader in terms of competitive prices on high quality products. This has been enhanced by sustainable and value-based procurement of components facilitated by quality controls and value analysis. For instance, the Mi3 has a Sony Camera with a sharp LG display and Phillips flash. The organization, however, is purposed toward zero inventories as they only manufacture based on orders hence inventory holding cost is automatically reduced. They procure components only when they get orders (Ghong). This has enhanced the effective alignment of their business model and operations hence meteoric rise.

    Huawei Strengths

    Huawei had various strengths as compared to Mi in terms of and manufacturing and distribution. For instances, their approach on stock-to-order was favourable in term of logistic and inventory management. Mi implemented a zero inventory management practice where they solely depended on customer orders to procure components. Although this method can save a lot of inventory cost, it can be constraint in case of inventory shortage or delays in delivery. In addition, Huawei had a clear procurement and tendering scheme which facilitated the selection of supplier hence facilitated suppliers’ involvement in the manufacturing process.

    Adoption and implementation of seamless and profound operation management concept in the production and delivery of goods and services is a blueprint to the organizational success. They main operations management principles and knowledge adopted by the company included; the principle of reality where Huawei didn’t focus only on lean management or total quality management but rather focused on tools and time-based approaches to provide nearly universal successful operations management.

    Besides, the principle of organization is clearly highlighted in the case study. Both organizations had organized their production process coherently as manufacturing, marketing, and distribution are interconnected set of processes. Other principles addresses in the study were the principal of variance, change hence the manufacturing and distribution must be bound with struggles with regulations, benefits, and wages to facilitate competitive advantage. Besides, the concept of lean manufacturing and inventory management are greatly highlighted in the Huawei and Mi manufacturing process. Additionally, the quality assurance and research and development are critically addressed. For instance, these principles enhance the process of procurement through manufacturing to delivery of the final product to the customers.

    First, the organization is able to achieve or move toward lean production hence facilitating reduction of wastes which in return results in the eco-friendly operation and competitive advantage in the market (Onwuka, Ugwu & Ndife). For example, Xiamo was able to cut the cost of its products through inventory management and quality control initiatives. Reduced inventory costs and effective supply chain strategy enhances more competent, faster, and accessible products (Francis). To sum-up, adoption of operation management concepts and practices will enhance organizational efficiency, effectiveness, quality, lead time, capacity utilization, and cost objectives through value creation and value addition when transforming inputs to outputs.

    Works Cited

    Feixiang, Mao et al. “Making Manufacturing Productive Again With Iot – Huawei Publications” Huawei, 2018.

    Francis, Abey. “Operations Management – Definition, Objectives and Functions”. MBA Knowledge Base, 2018.

    Ghong. “Xiaomi: China’S Threat To Apple And Samsung – Technology And Operations Management”. Rctom.Hbs.Org, 2015.

    Kline, David. “Behind The Fall And Rise Of China’s Xiaomi”. WIRED, 2017.

    Onwuka, Ebele Mary et al. “Evaluation of Operations Management and Its Impact on Improved Logistics Control”. International Journal Of Economics, Commerce And Management, III, no. 5, 2015, pp. 591-602.

    Tao, Li. “Huawei To Improve Supply Of All Key Smartphone Components”. South China Morning Post, 2018.

    Wang, Lucy. “Xiaomi – Mobile Disruptor from China – Technology And Operations Management”. Rctom.Hbs.Org, 2018.

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