Discussion 10 Reflection
As you reflect on the final report and summary presentation of the company you analyzed, consider which of your earlier BBA courses provided insightful understanding of the challenges and issues that your company faced. In your initial post, describe how the disciplines of these courses enlightened your examination of this company.
Below are 3 discussions for above, please write a peer response for each discussion support by 2 academic scholars for each. Give your ideas and points of view and be supportive to these discussions and add new ideas.
DQ 1
Through the Business Decision analysis course I learned that decision making is the process of selecting a logical choice from the available options (Business Dictionary.2017). There are many ways to make a decision. Rational, logical, quantitative or qualitative. Decisions can be solution(ed) by using the five to seven steps of the problem solving process (Anderson, D et all. 2016. Page 31). Decision making ends with the choosing of an alternative, which is the act of making the decision (Anderson, D et all. 2016. Page 31). One method that I like to use for bigger decisions is the seven steps, which are: Define the problem, Identify the alternatives, Determine the criteria, Evaluate the alternatives, Choose an alternative, Implement the selected alternative and Evaluate the results. Since there are various steps to the decision making process, the objective is to find the best solution to that problem (Anderson, D et all. 2016. Page 32). My thinking about problem-solving has changed slightly in that if I can put a dollar figure next to it I try to use that more for reasoning. Two examples I used this was for my decision to work downtown, I had to figure in the cost of commuting downtown, along with the time it would take me. For me at this time, the extra increase in pay wouldn’t be enough, due to the time I would waste commuting. This would leave me with less time for my school work, which would result in less time for my family and not as flexible hours. This is where I like to use the multi-criteria decision problem solving with quantitative analysis (Anderson, D et all. 2016. Page 31). While working in Toronto would bring new experiences, and expand my network, I wouldn’t be able to put a dollar amount on how much I would gain from it, only how much I would lose from it. In order for the multi-criteria problem to work each of the “outcomes” need to be evaluated (Anderson, D et all. 2016. Page 32). Earlier on in the semester, we spoke about good and bad decisions. I don’t think it would be a good or bad decision if I chose to stay or go. Perhaps it would be a bad decision if it was a lateral move with no increase in pay. I believe the outcome after the decision was made will be able to tell if it was good or bad, so that you can learn from your mistakes and take that into consideration for the next decision you make.
In this class I learned how to look at the company holistically, this would be really useful for the future if I decide to become a consultant. I learned that I would need to start by clarifying the goal, by understanding the culture and values. I would also clarify my role, and explain how I will help and what the company aims to achieve with my assistance. In business strategy I learned how to create a QPSM model and a SWOT analysis for a weighting comparisons of two major choices. This matrix would help me to see the company’s current state and give me a sense of where to begin. According to the Harvard business review, it is important to first set objectives, as this helps prioritize the company’s efforts to measure success (Teng, M. B. 2015). Additionally, the article on ” the role of the internal consultant states that once this is in place I would be the one to foster the support for change, and establish clear roles for change (Kenton, B., Moody, D., & Taylor, B. 2003). Therefore with the use of the classes in the BBA program it has helped me to look holistically at the company, which is imperative in this course for the final assignment.
References:
Anderson, D. R., Sweeney, D. J., Williams, T. A., Camm, J. D., Cochran, J. J., Fry, M. J., & Ohlmann, J. W. (2016). Quantitative methods for business. Boston, MA, USA: Cengage Learning.
Decision Making (2017). Business Dictionary. Retrieved from http://www.businessdictionary.com/definition/decision-making.html
Kenton, B., Moody, D., & Taylor, B. (2003). The role of the internal consultant. Roffey Park Institute. Retrieved from http://www.roffeypark.com/research-insights/the-role-of-the-internal-consultant/
Teng, M. B. (2015, September 11). Why and How to Build an In-House Consulting Team. Retrieved fromhttps://hbr.org/2015/09/why-and-how-to-build-an-in-house-consulting-team
Whalley, L., & Hogan, M. (2018, December 11). Does problem-solving really protect against cognitive decline in old age? Retrieved from https://theconversation.com/does-problem-solving-really-protect-against-cognitive-decline-in-old-age-108448
DQ2
The Bachelor of Business Administration (BBA) program disciplines that I applied to Spectrum Healthcare (Canada) analysis included financial management, corporate social responsibility, information technology, and human resource management. The financial management helps in making right decision about divestment and investment as demonstrated in the organizational analysis. Using the financial management principles, the company determines the best business portfolios to invest in and which ones to divest (Gomez-Mejia, L., Balkin, B., & Cardy, 2010). On corporate social responsibility, the focus is on the role of an organization to stakeholders including employees, environment, customers, suppliers, and the community. The information was applied in Spectrum Healthcare to show how the company enhances quality and efficiency to foster customer satisfaction. The company adheres to environmental laws of Canada to minimize environmental pollution. The human resource management course was vital in understanding how Spectrum Healthcare manages the workforce. The company provides a favorable environment, which is vital in fostering employees’ productivity, satisfaction, and loyalty. As mentioned in the case analysis, excellent communication with employees, also help to foster employee retention and knowledge transfer (Conaty, B. & Charan, 2011). The advantage is that the experienced employees pass their skills, knowledge, and ideas to new employees, which promotes continuous improvement in a company (Proctor, 2011). The information technology is also an important course in BBA program. In the 21st century, the main aim for any business is to foster productivity, efficiency, and quality delivery of services (Altuntas & Baykal, 2010). To realize such goals, the adoption of relevant technologies has become vital (Gomez-Mejia, L., Balkin, B., & Cardy, 2010). The information technology also enhances effective communication, good financial management, and record keeping (Altuntas & Baykal, 2010).
References
Altuntas, S. & Baykal, U. (2010). Relationship Between Nurses’ Organizational Trust Levels and Their Organizational Citizenship Behaviors. Journal Of Nursing Scholarship, 186-194. doi: 10.1111/j.1547-5069.2010. 01347.x
Conaty, B. & Charan, R. (2011). The Talent Masters: Why Smart Leaders Put People Before Numbers. Crown Publishing Group.
Gomez-Mejia, L., Balkin, B., & Cardy, R. (2010). Management: People, Performance, Change, 3rd edition. New York: McGraw-Hill.
Proctor, K. (2011), Optimizing and Assessing Information Technology: Improving Business Project Execution, John Wiley & Sons
DQ 3
Upon researching Amazon.com, the global e-commerce giant, the parts that I found complex yet interesting is the various international rules and regulations, government policies, and the research that goes into trying to find a market to enter. In Macroeconomics, we learned how a comparative or absolute advantage in trade can give a company an advantage or gain; how exporting and importing with respect to trade agreements can affect price of products; and how a counties land, capital, and labour differ from one climate to the next. Since Amazon.com is so heavily computerized and advanced in technology, expanding internationally is a right move for the company.
When looking at international business, managers do need to look at market access (infrastructure, content, standards), legal issues (privacy, security, intellectual property), and financial matters (electronic payments, tariffs and taxes). To keep up with the rise in global businesses, “companies should follow a systematic screening process that incorporates high-quality research methods” (Wild & Wild, 2016, p.316). This first step is important to have accurate before looking at how to enter a new country through exports/imports/countertrade, contractual and investment entry.
It is also interesting how Jeff Bezos always had a customer first vision in mind, right from the inception of the business in his garage and even today, as a global e-commerce giant. That vision has been instilled into the employees and he has never deviated away from that.
Challenges that continue to pop up is the pace at which products are ordered, packaged and delivered, sometimes within 2 days for Prime service, the use of automation and bar codes for scanning and inventory management. The lack of workforce that can’t be found to fill vacant positions is a worry because it is not just Amazon that is struggling to find workers but is becoming a country issue. In reviewing the financial data, it is apparent in the accounts receivables that sales are growing faster than inventory. I look forward to analyzing this a little further.
References
Ragan, C.T.S. (2014). Macroeconomics(14thCanadian ed.). Don Mills, Canada: Pearson Canada Inc.
Wild, J.J., & Wild, K.L. (2016). International business: The challenge of globalization (8thed.). University of London, England, Alverne Ball: Pearson Education Inc.