MAN133 International Business Issues and Practice Assignment Sample
Module code and Title: MAN133 International Business Issues and Practice Assignment Sample
Introduction
Amazon is a well-known American multinational technology company that focuses on various prospects including e-commerce, cloud computing, digital streaming, and artificial intelligence. It is one of the renowned organisations that is famous for its influential economic and cultural forces that take place globally. After the pandemic has hit the world, the net sales of the organisation have been seen to be 33.36 billion us dollars which were 21.3 billion us dollars in 2020 (Aboutamazon.com, 2022).
The revenue of the organisation has reached 469 billion us dollars from which 127.78 billion us dollars are generated from international revenue channels. Founded by Jeff Bezos, the organisation has subsidiaries that include Zappos, audible, ring, amazon fresh, and many more. Amazon has its own set of project management strategies that have led amazon to scope up being viewed by big lenses. Scrum is the project management framework that is followed on Amazon.
Some of the project management strategies in amazon include understanding and communicating vision. Amazon has focused on articulating the brand’s vision in communicating the purpose, direction, and uniqueness in the branding. Defining the workstream is one of the most important strangers adopted by amazon as it is helpful with defining processes and setting up clear parameters in moving business to a whole new level.
Ensuring documentation of the workflow and process is another step in initiating project management at amazon. For Amazon, it is important to understand the ways objectives are required to be fulfilled and that setting them up is essential (Ecomengine.com, 2018). Besides, the main aim and vision of Amazon required setting up a framework that would be helpful in accomplishing the goals and preparing the priority lists.
The overall assertion of Amazon’s project management approach has been helpful in mitigating risks that help in supporting contingency planning of risks in many different ways. It has been analysed that the adoption of cloud computing in Amazon as helps in supporting and contingency planning for risk as it is able to prevent from getting stuck on sub-optimal technology stacks.
In addition to that, risk opportunity balance is another prospect that focuses on illustrating the operational risk of a quarterly sales forecast miss (Forbes.com, 2018). For Amazon, having a risk opportunity balance has been helping in getting with the risks that create a balance between the works that are required to be done plus the risks that might be faced.
Literature review
Project management activities
Using strategies and systems to produce various work projects efficiently is known as project management. The project manager utilizes development methodologies to build a plan that outlines the utilization of capital, responsibilities, and deadlines to meet the specific needs of the customers or sponsors and define the desired end state. Amazon employs effective project management teams to perform assignments on time, within budget, and within the design.
It’s pointless to misrepresent project management because it is generally tricky and complicated. There are many variables and responsibilities to consider; that’s why it is frequently challenging for the manager to have the responsibility to achieve high-quality results (Al-Tmeemy, et al. 2018). Amazon projects are characterized in strategic planning as a transitional endeavour that is carefully crafted, actualized, measured, and produced within a set timeframe and budget, all with the assistance of different project scheduling managers.
Projects can be primary or complicated, and they can be handled by one person or group of people working together. The project manager’s presentation goal is to communicate information and deliver the report’s contents to the concerned parties by encouraging the team members to follow specific suggestions. The seriousness of the objective or the measure of uniformity of the system’s outcome is project grade.
Project difficulties include resource shortages, scheduling concerns, safety issues, interpersonal conflicts, and many other issues that can develop if a project manager does not have the necessary information and insight. To guarantee that success criteria fulfil the approval process outlined in process improvement, Amazon project management includes the use of testing and analysis. A trained project leader of Amazon can assist the production team with some of the most time-consuming tasks by planning and managing ahead of the production start date.
Situational analysis
The situational analysis aids in the development of a foundation of knowledge about the setting in which a strategy is implemented. It acts as a basis for comparing the strategic plan and optimizes tasks. Situation analysis is a method for identifying problematic issues and challenges for a company’s operation and commodity. The process can be done at any stage, but it’s essential to perform it before implementing a new technique in a project.
From the analysis’s manner, the evaluation will provide an understanding of the consequences and advantages to the operation and the agencies involved by taking a view of the organization or circumstance at a specific point in time (Clarke, et al. 2021). It can also be used to specify a situation’s magnitude. Situational analysis assists Amazon in determining the optimal procedure and moving along without spending unnecessary time and effort by repeating mistakes.
Before the marketing plan is prepared to implement change, the evaluation can help discover competencies inside an organization to meet the needs of the process. It also aids in areas relating to the plan where changes may be necessary to reflect the present or evolving circumstances. Developing the approach allows knowledge and collaboration to be embedded into the Amazon development’s procedure, ensuring the appropriate number of actions needed.
A well-defined purpose, not too imprecise or broad scope, is essential because the analysis will be lost in the processing system if the aim is too unrestricted. This could be as basic as notifying as many participants as necessary or involving more concrete goals like reaching out to specific individuals. The situational analysis makes it possible for Amazon to have different plans for a process by critically defining realistic objectives.
Project conception and initiation
Project conception and initiation guarantee that a future project’s basis is solid. It’s the first project management phase, where project details and financial returns are pointed out. That knowledge can be used to gain support from critical stakeholder groups. The initiation phase includes all tasks that must be completed before a project can be sanctioned and design may begin. The point is to identify the high standard and connect it to the project process.
It provides a disciplined strategy to demonstrate the project’s value proposition and shows the effort needed for the project. Amazon project initiation guarantees that collaborators are notified early on, allowing the company to acquire strategic assets, get exposure for the operation, and avoid costly problems later. The project scope statement explains the project’s requirements and objectives as it contains information such as business requirements, relevant parties and sponsors, limits, purposes, and aims of the project (Elias, et al. 2019).
The project charter serves as a framework for outlining planning decisions and guaranteeing that they are consistent with corporate objectives. The organization’s objectives, financing, and timetable designation are known as project definition. While dimensions can alter over time, it’s critical to establish standards with all partners early on. Amazon development’s accomplishment is determined by its ability to meet stated criteria on schedule and within budget.
Performing this phase early on not only creates accountability but also gives a platform to sort out the details so that the project goals are established explicitly from the start. Identifying the scope of the project entails determining the development’s purpose and outcomes and the assets required to carry out your strategy. Amazon sets goals and expectations for a project that helps avoid pitfalls and chart a successful course.
Project definition and planning
Project planning is critical in every company since it ensures project outcomes and deliverability. Pursuing perfection will raise the likelihood of client pleasure and their faith in the company for future commitments. In Amazon, it’s the most critical stage in lowering risk and project delays. The project manager puts together a project management plan to complete the project, and the development plan outlines the construction scope, extent, and timeline.
It specifies what actions will be essential and the material requirements, including staff, infrastructure, and money, and where they might be obtained. Security and how to handle it, especially preparedness measures, are significant components in Amazon project planning, as is a strategic approach to keep all team members informed and online. Introduction, strategy, production, leading and reporting, and completion are the five steps of a venture (Pellerin, et al. 2019).
Project planning involves creating a plan after the inception phase to continue the implementation phase. The design phase acts as a strategic plan for the comprehensive project implementation as every step of the project is monitored for time and budget compliance. A timeline is included in the project plan to assist staff members in accomplishing their jobs and determining which equipment they will require.
After the inception phase, project planning includes developing a strategy for moving forward with the implementation phase. Every stage of the project is evaluated for schedule and budget compliance throughout the design phase, which serves as a growth strategy for the whole project implementation. The project plan includes a timeframe to help staff members complete their tasks and determine the equipment they will need.
The business plan encourages active participation from all team members and encourages them to take advantage of professional prospects, resulting in better-planned activities (Rikap, 2020). Analyzing, prioritizing, and executing an efficient risk management approach are all aided by project planning. Amazon project planning ensures that each stage of the product gets tested on schedule.
The business plan enables active engagement from all team employees and makes them take advantage of opportunities in their careers, which leads to better-planned activities. Project planning aids in analyzing, prioritizing, and implementing an effective risk management strategy. Amazon project planning guarantees that the product is tested on time at each stage.
Project launch and execution
The project launch and execution phase is done when a company prepares to offer its items and services to the consumers. The execution phase entails completing the requirements of the project management scope statement. No matter how well a manager has accomplished the task, the project may fail or suffer without project launch and execution preparation. Following protocols, working with people, sharing information and communicating regularly are the three main components of project execution.
The project execution phase of Amazon is by far the most time-consuming and intensive phase of the development management planning process. It is critical to ensure that all the project launch plans are carried out with professional efficiency and slight fluctuation. Amazon has created a variety of project management techniques to keep track of and manage its projects during this phase. These procedures aid in allocating time, money, and expertise and keeping track of risks and concerns (Bychkova, et al. 2019).
They also assist with sourcing, consumer acceptability, and engagement. Project launch and execution’s primary goal is to build outcomes according to the overall project plan and examine the procedures and strategies associated with delivering the output based on the determined standards. A project manager should have specified techniques and methods to help accomplish the project while maintaining the company standards throughout the preparation phase of project management.
The project execution step in the project cycle is frequently the longest, and a company can avoid costly miscommunication and disruptions by keeping the staff informed. Amazon involves its customers and stakeholders during the project’s execution phase to improve the information sharing process. Amazon also performs regular check-ins to upgrade and boost insight throughout the project launch and execution phase.
To keep records of and manage their projects throughout this period, businesses have developed a range of project management approaches. These protocols help with time, money, and expertise allocation, as well as keeping track of risks and issues. They also help with sourcing, consumer acceptance, and customer involvement (Rikap, 2020). The major purpose of project launch and execution is to construct results in accordance with the overall project management plan and review the methods and strategies for delivering the output according to the established criteria.
Throughout the project preparation phase, a project leader should have certain procedures and processes in place to assist complete the project while keeping organisational standards. When a corporation prepares to sell its products and services to customers, it enters the project launching and execution phase. The project management scope statement’s requirements must be met throughout the execution phase (Polacco and Backes, 2018).
Without project launching and execution preparation, no matter how effectively a manager has completed the work, the project may fail or suffer. The three key components of project execution include following procedures, working with people, exchanging information, and communicating on a regular basis. The project execution phase of Amazon’s growth management planning process is by far the most momentous and demanding. It is vital to guarantee that all emphasis is on developing plans that are carried out professionally and with little variation.
The project execution stage is often the longest, and by keeping employees informed, a firm may minimise expensive misunderstandings and disruptions (Polacco and Backes, 2018). To optimise the information sharing process, Amazon incorporates its clients and consumers during the project’s execution phase. All through the project launch and execution phase, Amazon also conducts regular check-ins to update and improve insight.
Project performance and control
Project performance and controls are procedures for collecting and analyzing project data to keep prices and timelines on target. The advantage of project controls is that they enable adaptation to changes identifying and managing risks, allowing for appropriate remedial action. While regulations ensure that tasks are accomplished, and on schedule, project control rewards go much further than that, resulting in considerable efficiency improvements.
Amazon project controls system provides a range of measures due to the project manager’s attention to continual monitoring, regular data collecting, transparency, and flexibility to various project developments. As a result, Amazon projects all have well-integrated design stages and produce excellent results. Forecasting is a critical project control mechanism that employs previous and current data to anticipate potential risks and benefits (Maqsoom, et al. 2020).
Project supervisors can adequately determine whether expenses and timetables are on target or how far out they will be using predicting approaches combined with appropriate progress measurement. Amazon’s forecasting system leads to increased productivity and cost reduction. Modelling enables early tracking of predicted results and adjustments during the entire project. This part helps the project teams stay on top of the budget and allow the team to make adjustments, such as reducing range or adjusting supplies.
Keeping timeframes and allocating resources to each task indicated in the project’s work breakdown structure is also essential. Amazon’s project schedule strategy allows all project participants to monitor progress and coordinate their goals. Performance measures help enhance programming by imposing a credible project plan that takes risks into account. Amazon uses measures to track timeline progress, providing timely detection and handling of difficulties to deliver the project on schedule.
The techniques for collecting and evaluating project data to keep pricing and timeframes on track are known as project performance and controls (Cattero and D’Onofrio, 2018). The benefit of project controls is that they allow for change adaption, risk identification and management, and appropriate remedial action. While laws guarantee that jobs are completed on time, project control incentives go much beyond that, resulting in significant efficiency gains (Cattero and D’Onofrio, 2018).
Because of the project manager’s constant monitoring, frequent data collection, openness, and flexibility to varied project developments, the Amazon project controls system deliver a variety of metrics. As a result, all Amazon initiatives have very well-designed stages and good outcomes. Forecasting is an important project management tool that uses historical and current data to predict prospective risks and rewards.
Using forecasting methodologies paired with proper progress assessment, project managers may accurately determine if costs and schedules are on track however far out, they will be. Amazon’s forecasting method boosts production while lowering costs (Cattero and D’Onofrio, 2018). Modelling allows for early tracking of expected outcomes and modifications during the project. This section assists project teams in staying on budget and allowing them to make modifications, such as lowering the range or altering supply. It’s also crucial to stick to deadlines and provide resources for each job listed in the project’s statement of work.
The project schedule technique employed by Amazon allows all project team members to track progress and synchronise their objectives. By establishing a realistic project strategy that works risks into account, performance measurements assist to improve programming. Amazon employs metrics to track timetable progress, allowing for early discovery and resolution of issues in order to complete the project on time (Ribeiro et al., 2018).
Analysis
Strategic business operation by Amazon and its current strategies
Amazon is a very well-known American multinational technology business that specializes in e-commerce, cloud services, digital broadcasting, and artificial intelligence, among other things. It is a well-known organisation that is well-known for its worldwide economic and cultural influences. Following the global pandemic, the organisation’s net revenues were estimated to reach 33.36 billion dollars, up from 21.3 billion dollars in 2020.
The organisation’s income has surpassed 469 billion dollars, with 127.78 billion dollars coming from overseas revenue channels (Ribeiro et al., 2018). The company, which was founded by Jeff Bezos, has subsidiaries such as Zappos, audible, ring, amazon.com, and many others. Amazon does have its own collection of project management practices that have led to it being scrutinized by major media outlets. Scrum is the framework used by Amazon (Ribeiro et al., 2018).
Understanding and expressing vision are two project management tactics used by Amazon. In defining the brand’s purpose, direction, and uniqueness, Amazon has concentrated on defining the brand’s vision. Defining the task shows is one of the most significant measures embraced by Amazon since it aids in the definition of processes and the establishment of defined parameters in taking the company to new heights (Villa et al., 2020). Another stage in starting product development at Amazon is to ensure that the workflow and procedure are documented.
Technological advancement of Amazon
The overall statement of Amazon’s project management strategy has been beneficial in minimising risks and assisting risk contingency planning in a variety of ways (Villa et al., 2020). It has been determined that Amazon’s embrace of cloud computing aids in risk support and contingency planning by preventing the company from becoming stranded on semi technology stacks. Furthermore, risk opportunity balance is another concept that emphasises the operational risk of missing a quarterly sales target.
Having a risk-opportunity balance has aided Amazon in dealing with the hazards that establish a balance between the tasks that must be completed and the dangers that may be encountered (Villa et al., 2020). From the foregoing, it can be stated that project management is critical to an organisation’s growth. The chosen organisational action by Amazon in the report, based on the overall statement of reading through the report, is amazon. Amazon, one of the most well-known e-commerce companies, has effectively implemented project management.
The general goal of the study was to provide project management tasks that must be examined, as well as the relationship between project management and risk management evaluation (Duponchelle et al., 2021). Furthermore, the method Amazon manages and mitigates risk, as well as the manner the project needs to be enhanced, have been reviewed.
Project management and Current situational position of Amazon
In strategic planning, Amazon projects are defined as a transitioning endeavour that is methodically created, actualized, measured, and delivered within a given timetable and budget, all with the help of various project scheduling managers. Projects might range from simple to complex. They can be managed by a single person or a group of persons (Duponchelle et al., 2021).
The purpose of the project presentation is to share information and distribute the contents of the report to the appropriate parties by encouraging team members to implement particular recommendations. Project grade refers to the importance of the goal or the degree of consistency in the system’s output. Resource shortages, schedule concerns, safety concerns, interpersonal disputes, and a variety of other challenges might arise if a project manager lacks the appropriate knowledge and understanding (Duponchelle et al., 2021).
Project management is the process of using strategies and processes to efficiently complete diverse work tasks. The project manager uses development approaches to create a plan that includes capital allocation, responsibilities, and deadlines in order to fulfil the demands of customers or sponsors and describe the intended end state.
The building of a basis of education about the context in which a strategy has been implemented is aided by situational analysis. It serves as a foundation for comparing and optimising the strategic strategy (Baldoni et al., 2020). An approach for discovering critical difficulties and obstacles to a company’s operation and commodities is situation analysis.
The procedure can be completed at any time, however, it is required prior to applying a new approach to a project (Baldoni et al., 2020). It may also be used to describe the size of a circumstance. Amazon uses situational analysis to choose the best technique and go forward without wasting time and effort by repeating mistakes. The evaluation can assist in identifying skills inside a company to satisfy the demands of the process before the marketing strategy is ready to make a change.
It also helps in areas where revisions to the plan are needed to reflect current or changing conditions (Baldoni et al., 2020). Developing the technique allows information and cooperation to be integrated into Amazon’s development process, ensuring the right amount of actions are taken. Because the analysis would be lost in the processing system if the goal is unlimited, a well-defined purpose, not too imprecise or broad in scope, is required.
This might be as simple as alerting as many people as possible, or it could involve more detailed goals like contacting specific people (Cook, 2018). By rigorously establishing realistic objectives, the situational analysis allows Amazon to have alternative plans for a process.
Project initiation management of Amazon
The conceptualization and launch of a project ensure that its foundation is robust. This is the initial step of project management, during which project specifications and investment rewards are discussed. This information may be utilised to win support from key stakeholders (Cook, 2018). All activities that must be accomplished before a project can be authorised and design work may begin are included in the start phase. The goal is to pinpoint the high quality and link it to the project’s workflow.
It outlines a rigorous method for demonstrating the project’s business model and demonstrates the work required. Amazon project start ensures that partners are contacted as soon as possible, allowing the organisation to secure strategic assets, get publicity for the operation, and prevent costly complications later. Amazon uses competent project management teams to complete projects on time, on budget, and according to specifications. It’s meaningless to misrepresent project management since it’s inherently difficult (Cook, 2018).
There are several factors and obligations to consider, which is why having the duty to provide high-quality results is usually difficult for the management. Amazon project management uses testing and analysis to ensure that success criteria follow the approval procedure specified in process improvement. By organising and coordinating ahead of the manufacturing start date, an Amazon-trained project leader may assist the production staff with some of the night before going to bed duties (Humphries et al., 2020).
Conclusion and recommendation
Conclusion
From the above, it can be concluded that project management plays an important part in an organisation’s development. From the overall assertion of going through the report, it can be seen that the chosen org action in the report is amazon. Amazon is one of the top-ranked e-commerce brands and has successfully initiated project management.
The overall study has focused on providing project management activities that are required to be considered along with the relation of project management based on risk management assessment. In addition to that, the quays amazon manages and mitigates risk have also been evaluated along with the way the project is required to be improved.
Recommendation
After the evaluation of this project report of Amazon, it is evaluated that amazon needs to adopt different recommended project management strategies significantly.
Recommendation 1: Communicate and understand business vision.
In addition to effective communication and workplace engagement developing segments, Amazon is highly recommended for understanding their business vision in order to expose their business opportunities earlier.
Recommendation 2: Workstream definition
In order to maintain a marketing, inventory management, customer care, product development and vendor management it is necessarily recommended for Amazon to define Workstream within their workplace effectively (Humphries et al., 2020).
Recommendation 3: Documentation or workflow definition process
The organisation is highly needed to ensure the workflow definition process and its documentation for their future success in business sectors and overall sales as well as other programs.
Recommendation 4: Setting clear and SMART objectives.
The setting of SMART and clear objectives of Amazon ensure it launches a Shopify website with huge profit in its operating marketplace as well.
Recommendation 5: Measuring regular progress.
It is highly recommended for Amazon to measure their regular business progress compared to their selected objectives significantly in order to respond to their improved performance management planning (Humphries et al., 2020).
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