BSS063-6 Management Practice Assignment Sample
Module code and Title: BSS063-6 Management Practice Assignment Sample
Introduction
This report is based on the business performance of the Green Spoke company with detailed evaluation and simulated theories of proper business management for more improvement. Proper implementation of effective models and various theories are also discussed for the betterment of the strategic management of the Green Spoke company.
There are “porter’s five forces” beside the model and theories, Marketing, “Human Resource Management”, “Performance management” “Operations Management and Finance” that are discussed in this report. The simulation is done so the better service can be expected. “Green Spoke” is a Canada based company that gives the proper solutions on bike parking and consumer services. All the theories that are chosen and discussed will improve bike parking and consumer service effectively of the Green Spoke company.
Objectives
- To explain the profitability and proper use of the process that are needed for the theories.
- To implement the proper theories and models that will develop the business of the Green Spoke company.
- To simulate the exact business conditions by implementing proper business software or analytic tools.
- To perform an appropriate analysis of the condition of business of the Green Spoke company.
Application of Theories
Green spoke is an inventive production company based in Ontario. It fulfills the demand of the working Ontarians. The research is based on the evaluation of the proper processes to make Green spoke a more profitable company. In this competitive market a company cannot grow overnight and be one of the most successful industries (Veldhuis, G.A. et al 2020).
To be on the peak of the list, it requires some proper theories or models by the experienced ones which can guide a company to its profit and goals. Green spoke also needs to perform on the basis of some particular and effective theories, like, three needs’ theory by McClelland, Hierarchy needs theory by Maslow. These two high level theories can aid the company to be motivated and achieve more profit (Alison, L. et al 2022). Through the analysis, more opportunities can be confronted to the company.
The first theory, the three needs theory by McClelland mainly says that each person has one or two operating inducements among the needs of reaching goals, powers and bonding or connecting. These are the three basic points which can improve one’s ideas into a more successful way, given by McClelland. The leader has to establish the drives among the employees.
Knowing their drives, it would be helpful to motivate them in some motivational ways (Bucci, G. et al 2018). Then the company can execute the processes in a proper way and will be able to refine them as needed for its profit and growth.
Figure 1: Three needs’ theory by McClelland (Source: alchemyconsultancy.asia )
The second theory is Hierarchy needs theory by Maslow, another motivational theory which focuses on five types of human needs that command the behavior of a person. The needs are mainly about belonging needs, psychological needs, security needs, admiration needs, and also self-exploration. Safety and security are two of the important needs that an employee seeks from its work area.
If a person feels safe about his job and has the security that he cannot get fired suddenly then a person can give all his concentration to the work. Financial stability gives an employee satisfaction for which one strives more to be the best. This is what someone needs to survive which can provide one with proper food, nutrition, clothes and other needs. It also allows one to discover the good techniques which can be used in work. Employees’ good performance is what a company needs to achieve more profit (Chen, C.Y., 2022).
Figure 2: Maslow’s Hierarchy of Needs (Source: www.thoughtco.com )
Opportunities and threats related with performance
Analysis
Figure 3: Quarterly Analysis (Source: Generated on simventure)
Implications or causes for company performance
Green spoke needs management to be profitable in the market due to some serious challenges or factors. A company does not go well when it loses its performances and verges. One of the primary causes which are responsible is the major competition in the market. There are many well-established companies which are challenging Green spoke.
The formation of the company in managing the employees is not so proper in the business (Cooper-Ioelu, P. and Jowsey, T., 2022). The company appoints employees through some organization while it needs to connect directly with the employees to create a good impact from the beginning.
Value Chain Analysis
“Value Chain Analysis” is a very important and operative process for the betterment that is related with the profits of Green Spoke Company. The various business actions which are connected with the business development that can be separated among the different stages.
There are mainly two outlining for this business activities of Green Spoke Company (Garrod, L. et al 2019). The main and secondary actions that are related with the business activities which are specifically needed for the development of the environment of the business of Green Spoke business organization.
Figure 4: Quarterly reports on Profit & Loss (Source: Generated on SimVenture)
Outbound/ Inbound Logistics
These processes are needed for delivering, receiving, and distributing for the company’s goods and services. Also there can be actions like storing, transport and shortage with the related actions of the company. These stages are important for giving the basics steps of b factors which are needed for the company (Green, K.J., 2020).
Further boosting the awareness of the goods is very important for the company. Perfect use of the business structures that is needed for the improvement of the business which is possible with logistics advancement of the Green Spoke company.
Figure 5: Quarterly Report on Cash Flow (Source: Generated on simventure)
Operations
Below data shows the operations of product machinery, assembly and packaging price is required to obtain the value chain analysis. For the improvement in manufacturing, a proper strategy is required to develop the company’s business (Jadunandan, S., 2022). To implement new things in a company, a good analysis of factors is very essential. To develop the business model of the company the factors or difficulties need to be short out individually.
Figure 6: Quarterly Report on Operations (Source: Generated on Simventure)
Service
For making the customer satisfied, companies need to manage all the activities related to customer support. The company’s business is mainly based on the good services and customer satisfaction. To make a company’s business better, related activities need to be monitored and managed by the company (Jefferson, D. et al 2021). For quality control and quality assurance of the goods and services, necessary activities need to be implemented.
Research and technology development
For further improvement of the various services that are needed for the development of business are required for perfect and required technologies. Modification is also needed for the heavy machineries and developed technologies for the betterment of the business activities (Lackie, K. et al 2020).
New activities that are required to increase the performance with various uses which are very effective for the new innovative technologies of the related business market of the Green Spoke company.
Figure 7: Cash overdraft (Source: Generated on simventure)
Procurement
Proper materials are needed as input of the Green Spoke’s business activities and appropriate conduction. All the needed consumables, heavy machineries, and important structures which can be used for the total development of the structure of the business organization.
The business organization named Green Spoke has been in the business market for more than 3 years with a market share of 12%. According to the research which is based on the present information’s and data it is measured that the virtual farm of the Green spoke of the business company with an approximate sales value of ￡226,202.
The firm has overall 10 employees and the worth of the contractor is 0.6 (Rozhkov, M. et al 2022). Green Spoke Company’s net worth is ￡139,001 in share price in the business market and the profit amount is ￡28,220. The value of the overall asset is ￡243,816.
Figure 8: Quarterly running activity (Source: Generated on Simventure)
This analysis is based on the above picture. It can be seen that the total number of order count is 579 and the added value of the table is 261128. For the sales these values are the same. In addition, the components that are purchased with the value of 15000 and value of the stocks is 5138 (Sheprow, E. and Harrison, S.H., 2022). If the efficiency is said, the efficiency rate of the firm is 90%.
The calculation is done on the basis of the data collected from the company’s Y3 Q4 statistics. With the valuation of the data, it can be said that the Green Spoke company is running without any profit and the cash flow is very low. The overall asset of the company which is based on the balance sheet is 243816. In future the company will be out of stock and the sales and production ratio will decrease (Stachowiak-Szymczak, K., 2019).
Overall sales of the Green Spoke company is thoroughly evaluated which is presented on the data of Y3Q4 quarterly reports. This report contains various kinds of selling variables on the basis of total value that can be calculated from the order and sales section of the company’s report.
The overall sales of the Green Spoke company is dependent on the number of the distributors of the company and their performance (Violato, E. et al 2022). The evaluated table that can be seen on the above picture it is quite clear that the order count is 579 and the sales value is ￡226,201 which is little impressive for a small retail distribution.
Figure 9: Sales chart diagram (Source: Generated on Simventure)
The above picture represents the sales chart of the Green Spoke company in Y3 Q4. Data of overall number of orders and sales of the company is collected and then the data is simulated by SimVenture application to produce the graph. Both of the graphs show the overall sales of the company at its peak in the year 3 and quarter 4 (Ward, A. et al 2018).
But the information collected while simulation shows that the company’s stock is ending and the ratio of sales and production ratio is very poor which means the future graph is going to decrease and the company will run in loss shortly. The profit rate of the graph will be low in upcoming years.
Figure 10: operation chart (Source: Generated on Simventure)
Appropriate mechanism and security required for safe bike parking and for this security implementations there will be huge costing is needed. In terms of perfect growth of the company and profit gain the Green Spoke needs these tools in proper working which can be done through proper maintenance.
The machinery and secure mechanisms are needed to properly manage so the required services meet with the customer demands (Wright-Maley, C. and Green, J.D., 2018). The customer relationship can be improved if the developed services are used in favor of them properly.
Figure 11: Finance charts (Source: Generated on Simventure)
The above picture is the finance chart diagram of Green Spoke Company. The simulation is done in the Simventure application which is based on the overall profit and loss of the account sales of the company. The value of the total amount of gain which is based on the account expenses 3735 and the overall profit with the fixed value of 4701, with the total efficiency rate of 32 percent.
Figure 12: Custom 1 (Source: Generated on Simventure)
There are two ways through which the appropriate analysis of the value chain can be done of the Green Spoke company. Also there are two ways through which the analysis of the value chain is related. The main and supporting activities are very important for the total assessment of Green Spoke Company’s value chain.
Figure 13: Measure Output (Source: Generated on Simventure)
Cash Flow
This analysis reports all the cash flow of income statements that was recorded on the basis of accrual. Accounts payables, income taxes and accounts receivables are the few items of this section which need to be included. If a customer pays an amount, it would be reported as cash form activities.
Current liabilities or current assets changes are reported as cash flow from the activities. The transaction of cash is calculated by the cash flow form of the business. The receivable cash is considered as the inflows in the company account. For the company’s activities and growth, cash flow matters.
If the company is having some difficulties collecting the payments from the customer’s side, a modification is required in the company. For the investment from the investor’s side cash flow reports are essential (Xiao, J. et al 2021). The simulation of cash flow of the company shows the higher cash inflows comparing the outflows of the company. From the simulation result, it is known that companies need to improve more.
Figure 14: Financial (Source: Generated on Simventure)
Infrastructure
For the growth of this business, companies need a good infrastructure to manage the other departments which come in this business. Other departments in this business would be the finance, planning, management and IT are essential to assess and manage the business.
Figure 15: Profit & Loss (Source: Generated on Simventure)
Potentials of new Entrants into the Industry
Several new entrants can be there in the industry that is related to the Green Spoke company. The possibilities and capacities of these new internet companies are also needed so that they can be evaluated properly for the total development of the strategy that is required for the business. For increasing the profit and securing the competitive market position of Green Spoke Company the requirement factors are evaluated thoroughly.
If the proposed assessment of the company is not done properly then the newly entrant companies can lose their position in the business market. Overall top quality analysis is needed for improving the business structure that can increase the performance of these new companies in this industry
Figure 16: Operations output (Source: Generated on Simventure)
Management of Human Resources
In the Human resources management system activities like recruiting, retention and training take place to make employees compatible for the company. In this management system the employees of the company are recruited and trained by the HR manager who will help the company to reach the next level of achievements.
For the management of the people of Green Spokes Company and related departments in the same company this management system is essential for the human resources.
Figure 17: Sale & Marketing (Source: Generated on Simventure)
The above simulation result is showing the sales and marketing overview of the Green Spokes company. In the sales & marketing table, the analyzed attributes are sales volume, the amount of the variable cost, fixed cost of the product and the rates of efficiency of various departments which are related with the manufacturing and designing process.
Competition of Industry
The competition against other industries with the same business needed to assess appropriately for the total development of the business strategies and performances of the Green Spoke company. There are various challenges which can be identified through the deep analysis of the company’s growth.
Some of the fierce competitors of Green Spoke specified the business management that is simulated by the Simventure (Zitouni, S.E. et al 2021). Various companies like Cameroon cycles, Fit bikes, and outbound bikes are great competitors of Green Spoke.
Figure 18: green Spokes Company’s summarize table (Source: Generated on Simventure)
These companies which are great competitors presented better performances in the business market than the Green Spokes company where Green Spoke is better than others in business activities. For development of the profit, these factors are important to match the condition of the company.
Figure 19: Forecasting of profitability (Source: Generated on Simventure)
Substitute threats
In the substitution in the product and the services of the company, there are various types of threats related to them. If there is not any type of substitute the overall goods and consumer services of the related company can be managed very easily.
Figure 20: Cash Flow Forecasting (Source: Generated on Simventure)
These credentials are important and very effective for the changes of the business activities of the Green Spokes company. Other possible opportunities and threats that are related to the activities of the business can be developed by use of this model.
Company performance implications
Due to various factors and causes the performance of that company in the market is not going well. For this the margins of that business are low. For this type of thing, the business can face various types of challenges in the business market. In this case, on the other hand they all know that there are too many excellent companies in the market which are competing with the green spokes.
Figure 21: Cash Overdraft (Source: Generated on simventure)
Conclusion
The business of this Green Spokes company generally provides serviceability to the customers. A good customer support company needs some implementation and proper management in respect of the business infrastructure of Green Spokes Company. As the simulated result is not in favor of the company.
As the company failed to complete the order due to the lack of stock, resulting in the company not going to make profits. Due to the less sales, the company is not making any profit. To improve the manufacturing and stock management infrastructure, companies can make the appropriate profit. The factor of stock management needs to be analyzed properly. To analyze the business performance Green Spokes is using SimVenture to get effective simulation results.
Recommendation
- A proper development should be present when it comes to the process of human resources of the particular company. A company’s business is all over dependent upon the management of resources that are provided to the company. This is why adjusting the developing process and managing the sources are primary actions.
- For the company, type modifications that need to be done is important to perform immediately. That helps the company to grow more efficiently in the future. The amount of service a company provides is responsible for the success rate of that business. This is the reason why the related technology should constantly update its version so that the development does not stay back dated.
- The Competitors should be taken care of at all times, it is important to evaluate all the moves and strength that they consume. This will help to understand the condition of all the competitors that exist in the present market. To create an applicable strategy that is effective, these evaluations are necessary to perform.
- For the particular business that they are trying to build needs constant improvement in the promotional activities of the services and product that the company is delivering. The promotion can be done with the help of advertisement for the particular business that requires promotion.
Reference List
Journals
Chen, C.Y., 2022. Immersive virtual reality to train preservice teachers in managing students’ challenging behaviours: A pilot study. British Journal of Educational Technology.
Cooper-Ioelu, P. and Jowsey, T., 2022. Interprofessional identity: an ethnography of clinical simulation learning in New Zealand. BMC Medical Education, 22(1), pp.1-14.
Garrod, L., Fossey, J., Henshall, C., Williamson, S., Coates, A. and Green, H., 2019. Evaluating dementia training for healthcare staff. The Journal of Mental Health Training, Education and Practice.
Green, K.J., 2020. The Impact of an Opioid Use Disorder Immersive Education Experience on Preprofessional Health Care Students’ Development of Hope and Hopeful Communication (Doctoral dissertation, East Stroudsburg University).
Jadunandan, S., 2022. NURSE EDUCATOR EXPERIENCES OF VIRTUAL SIMULATION DEBRIEFING PRACTICES.
Jefferson, D., Paige, F., Agee, P. and Jackson, F., 2021. User Experience of Green Building Certification Resources: EarthCraft Multifamily. Sustainability, 13(14), p.7871.
Lackie, K., Najjar, G., El-Awaisi, A., Frost, J., Green, C., Langlois, S., Lising, D., Pfeifle, A.L., Ward, H., Xyrichis, A. and Khalili, H., 2020. Interprofessional education and collaborative practice research during the COVID-19 pandemic: considerations to advance the field. Journal of Interprofessional Care, 34(5), pp.583-586.
Rozhkov, M., Ivanov, D., Blackhurst, J. and Nair, A., 2022. Adapting supply chain operations in anticipation of and during the COVID-19 pandemic. Omega, 110, p.102635.
Sheprow, E. and Harrison, S.H., 2022. When regular meets remarkable: Awe as a link between routine work and meaningful self-narratives. Organizational Behavior and Human Decision Processes, 170, p.104139.
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Violato, E., Witschen, B., Violato, E. and King, S., 2022. A behavioural study of obedience in health professional students. Advances in Health Sciences Education, 27(2), pp.293-321.
Ward, A., Mandrusiak, A. and Levett-Jones, T., 2018. Cultural empathy in physiotherapy students: a pre-test post-test study utilising virtual simulation. Physiotherapy, 104(4), pp.453-461.
Wright-Maley, C. and Green, J.D., 2018. Bitter Challenge; Swede Success: Simulating Language Learning Experiences in Social Studies Classrooms. In Teaching History and Social Studies to English Language Learners (pp. 179-203). Palgrave Macmillan, Cham.
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Zitouni, S.E., Mashruk, S., Mukundakumar, N., Brequigny, P., Zayoud, A., Pucci, E., Macchiavello, S., Contino, F., Mounaïm-Rousselle, C., Bastiaans, R. and Valera-Medina, A., 2021, October. AMMONIA BLENDED FUELS–ENERGY SOLUTIONS FOR A GREEN FUTURE. In 10th International Gas Turbine Conference.
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