Effective Management And Effective Performance...

Introduction Effective management and effective performance measurements have a very close relation with management and practice (Drucker 1995). The effect of the performance depends upon the usages of the management. The performance measures have meaning when they are compared. The comparison may help in achieving goals or assess trends overtime or weighting performances of one organization to another (National Research Council, 2005). An organization’s success depends upon the input provided by the project management. to improve the objectives and process, the benchmarking is an effective tool. Benchmarking is a process of identifying superior performance or practices of other organizations or projects and to internalize such knowledge for competitive advantages (James R.Evan.1997). Benchmarking is a learning process to find better ways of doing things. It is a management process that requires constant updating whereby performance is regularly compared with the best performers that can be found. The key philosophy of benchmarking is the ability to recognize one’s shortcomings and acknowledge that someone is doing a better job, learn how is it being done and implement it in one’s field of business (Ifeoluwa Ajelabi and Yinshang Tang. 2010 ). It’s not about copying but improvising by appreciating others effort and performances. Importance of Benchmarking Benchmarking comprised defining measures, planning, analyzes, improve and improvement. BenchmarkingShow MoreRelatedRocky Mountain Medical Center ( Rmmc )1347 Words   |  6 Pagesservices. Performance Measurement System It is imperative that RMMC expands its patient mix in order to increase operating income. An important factor in achieving this result is improving the quality of care and customer satisfaction. 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Individuals With Disabilities Education Act - 1688 Words

INDIVIDUALS WITH DISABILITIES EDUCATION ACT IDEA - - - - A law ensuring services to children with disabilities throughout the nation. IDEA governs how states and public agencies provide early intervention, special education, and related services to more than 6.5 million eligible infants, toddlers, children, and youth with disabilities. http://idea.ed.gov/ IDEA -Was originally enacted by Congress in 1975 to ensure that children with disabilities have the opportunity to receive a free appropriate education. -http://www.parentcenterhub.org/repository/idea/#summaries EDUCATION FOR ALL HANDICAPPED CHILDREN ACT - - - - - - - - On November 29, 1975, President Ford signed into law the Education for All Handicapped Children Act†¦show more content†¦It states the prevalences of students receiving special education for hearing impairments and even gives teachers strategies on how to teach students with this impairment. It even goes to the extent of giving examples of assistive technology for students and teachers. It describes the characteristics and even gives a list of organizations and resources for students and parents. Educational consideration: Using the auditory-oral approach, you use visual cues, such as speechreading. Classroom accommodation: When watching a video or movie, use subtitles so students can read along. âÅ"Å" Autism: A developmental disability significantly affecting verbal and nonverbal communication and social interaction, generally evident before age three, that adversely affects a child s educational performance. http://www.specialeducationguide.com/disability-profiles/autism/ This website is very helpful when one is learning about autism. It shows you the definition under IDEA and even lists some characteristics of autism, some of which are: disinterest, disruptive behavior, and unusual fixation on certain toys. It also shows a list of educational challenges of an autistic student which can include trouble following directions, disruptive behavioral problems, and disinterest. There is even a section on tips for teachers and parents. A good way for teachers to prevent disinterest is to learn the student’s interest and grab their

Plan for Primary and Secondary Data Collection

Questions: Task 1 1.1 Plan for primary and secondary data collection1.2 Survey methodology and the sampling frame 1.3 Questionnaire for the given problem 1.4 Information for decision making using representative values 1.5 Analysis of results in drawing valid conclusions1.6 Analysis of data using measures of dispersion1.7 Recommendations and conclusion based on quartiles, percentiles and correlation coefficient Task 2 2.1 Calculations using spreadsheet charts (line, pie, bar, histogram and scatter) and presentation 2.2 Trend lines in graphs to assist the forecasting business information2.3 Formal business report2.4 Information processing tools2.5 Project planning and critical path method2.6 Financial tools in evaluating the financial viability Answers: Introduction In this report it will be analysed that whether it is possible for a restaurant to open a second branch in London. For doing this the researcher has used various statistical and financial tools and techniques in the feasibility study of the hotel (Carlson and Wu, 2011).There was primary and secondary data which was collected for the qualitative and the quantitative information that will help in analysing the project form different aspects. There was a project management technique and analysis which was done and through that critical path method of the project was also evaluated. Finally the several financial techniques which were applied in assessing the possibility of the project has been evaluated due to which a specified plan of action could have been followed. Task 1 1.1 Plan for primary and secondary data collection In this project there was primary and secondary data collection done based on the requirement of the topic. There are several advantages of collecting primary data as it quantitatively describes the pattern and movement based on which the conclusions of the project was drawn. It helps in addressing specific issues and allows the organization to analyze based on the current situation (Shata, 2012). There is greater control of the research in case of primary data analysis as because the marketer can decide on issues like number of respondents or the age group along with the timeframe for completing the project. The funds for the research is spend efficiently and the information collected by the marketer is their own and is generally not shared with others. In this report the primary data has been collected based on the questionnaire which has been given to the common people who visit restaurants. The researcher has collected the details from the database of several hotels and based on that an online survey has been done which would help the respondents to answer conveniently from the place they feel comfortable with (Mendelsohn, 2012). The issue with primary research is the cost and the time it consumes in collecting the data where the secondary research scores better. The researcher has used a large number of sources in collecting and evaluating the data which will help them in improving the qualitative part of the research. In this analysis there have been lot of books, journals, and websites that have been used. There are certain advantages in the secondary data collection techniques which include ease of accessibility, low cost and also help in the clarification of the research questions. As this is a hotel which is looking to open up a new branch in London hence the hospitality sector journals and websites of several industry analysts as well as expert interviews in the newspaper articles and websites were thoroughly followed. This has helped the researcher in identifying the key areas like demographics, financial condition as well as food habits of the people which would be the ultimate deciding factors in op ening up of a hotel chain. 1.2 Survey methodology and the sampling frame The survey methodology which was adopted in this study was an online questionnaire which was send to the clients which had five questions in it (Wang and Zou, 2013). The positivism philosophy was followed throughout the study as because it helps in interpreting the current theories in finding out a suitable solution based on the given problem. Deductive method was used along with descriptive technique so that detailing can be done while doing this project. The exploratory and explanatory methods were not used because of the fact that it generally targets scientific research which has the potential in creating something new. The sampling frame which was used includes 50 respondents who were of the age group between 18 and 35 who are the local people as well was expatriates based in and around London. The specification was done so as to focus more on the mindset of the people in the current city. The descriptive method will bring out the estimated outcomes which the organization will r equire in the future oriented decision-making process (Mendelsohn, 2012). The respondents had different educational backgrounds, profession, ethnicity as well as choice of parameters based on which they judge the service quality of a hotel. There was a stratified sampling technique which was used as because there are a number of distinct categories based on which the frame is arranged. It has been previously argued that stratified sampling techniques can lead to more efficient statistical figures and results. 1.3 Questionnaire for the given problem Q1) Do you visit a hotel frequently? OPTIONS NO OF RESPONDENTS TOTAL RESPONDENTS RESPONSE % Strongly Agree 6 50 12 Agree 18 50 36 Neutral 10 50 20 Disagree 8 50 16 Strongly Disagree 8 50 16 Q2) Are you satisfied with the service delivery of the hotel that you visit most? OPTIONS NO OF RESPONDENTS TOTAL RESPONDENTS RESPONSE % Strongly Agree 7 50 14 Agree 14 50 28 Neutral 11 50 22 Disagree 16 50 32 Strongly Disagree 2 50 4 Q3) How far do you think that the quality of the food is satisfactory in compared to the price that you pay for? OPTIONS NO OF RESPONDENTS TOTAL RESPONDENTS RESPONSE % Strongly Agree 8 50 16 Agree 19 50 38 Neutral 7 50 14 Disagree 12 50 24 Strongly Disagree 4 50 8 Q4) Would you change your preference if you had better options? OPTIONS NO OF RESPONDENTS TOTAL RESPONDENTS RESPONSE % Strongly Agree 14 50 28 Agree 14 50 28 Neutral 7 50 14 Disagree 8 50 16 Strongly Disagree 7 50 14 Q5) How far do you feel that the hotel industry in London is at par with other global cities? OPTIONS NO OF RESPONDENTS TOTAL RESPONDENTS RESPONSE % Strongly Agree 10 50 20 Agree 12 50 24 Neutral 5 50 10 Disagree 16 50 32 Strongly Disagree 7 50 14 1.4 Information for decision making using representative values The decisions which were taken based on the information that was available from the questionnaires that were given to the respondents based on the online format. Decisions which are taken based on the calculations and numerical figures helps in analysing the issues in depth and also makes prospective sensible buying decisions through which the error making and uncertainties actually reduce by a large extent (Carlson and Wu, 2011). 1.5 Analysis of results in drawing valid conclusions In the survey method it was found that 24% of the respondents agreed to the fact that the hotel industry in London is quite robust enough in compared to the other cities and more than half of the respondents also were of the opining that they would be changing their preferences if better options would be available. 36% of the respondents said that they visit hotels very frequently which is an advantage of the hotel industry as a whole.38% of them said that they were quite satisfied with the quality of food which has been given but expects new varieties as well. Variance measures how far there is a change or variation within a particular series... In case of strongly agree it was found that the variance is 10 while the standard deviation is 3.1622. This indicates that the average squared difference from the mean is 10 and hence the deviation is (10-6.8378) which is the required answer. 1.6 Analysis of data using measures of dispersion Strongly Agree Agree Neutral Disagree Strongly Disagree 6 18 10 8 8 7 14 11 16 2 8 19 7 13 4 14 14 7 8 7 10 12 5 16 7 Variance 10 8.8 6 16.2 6.3 Standard Deviation 3.16227766 2.966479 2.44949 4.024922 2.50998008 Variance measures how far there is a spread out within a set of numbers. The variance of zero indicates that the values are identical. In case of strongly agree it was found that the variance is 10 while the standard deviation is 3.1622. This indicates that the average squared difference from the mean is 10 and hence the deviation is (10-6.8378) which is the required answer. The overall response have been positive but there have been fluctuation on the basis of the disagree column which has shown volatile trends because of the different ranges of the questions that have been asked to them. 1.7 Recommendations and conclusion based on quartiles, percentiles and correlation coefficient Strongly Agree Agree Neutral Disagree Strongly Disagree 6 18 10 8 8 7 14 11 16 2 8 19 7 13 4 14 14 7 8 7 10 12 5 16 7 Quartile 6 12 5 8 2 Percentile 7.2 14 7 9 4.6 Correlation Coefficient -0.506351701 0.309646 -0.12679 -0.63351 -0.633508129 Quartile is generally divided into four equal parts where if the measurement falls to the right of the upper quartile then it is in the top 25% of the data. In this report it was found out that the agree percentage falls in the top quartile between (10-14) deciding it has an utility measure of the overall study (Manly, 2007). Percentile is any of the 99 values which help in dividing a sorted out data into 100 equal parts so that each of the part represents 1/100 of the data set. In agree we find that it is 16 which means that more than 84% of the sample. It is also used in the non-referenced tests. The 93rd percentile in the strongly disagree category tells us that only 7% people have disagreed It gives a very accurate picture of the bandwidth (Shata, 2012). Correlation Coefficient is a measure of the linear correlation between the two variables X and Y which gives a value between +1 and -1 where 1 is the positive correlation and -1 is negative correlation while 0 has no correlation. It is widely used in the science to measure the degree of the linear dependence within the two variables. Here for strongly agree the correlation is 0.506 negative while for agree it has been 0.309 (Wang and Zou, 2013). Task 2 2.1 Calculations using spreadsheet charts (line, pie, bar, histogram and scatter) and presentation Histogram Histogram is the graphical representation of the data distribution as it estimates the probability distribution of a continues variable. From here we can analyse that most of the respondents had a very positive viewpoint on the opening up of the new hotel industrtry. Bar-graph The bar graph is rectangular charts which can be structured and drawn both vertically and horizontally. In this report it has been clearly established that the percentage of the respondents who have given negative views is proportionately quite less in compared to positive views. Pie-chart Pie-chart is a circular graph which shows and compares data that is divided into sectors based on the numerical proportions (Manly, 2007). Sometimes when the data are very close then it becomes increasingly difficult to differentiate between the various sectors. Scatter graph The scatter graph is a kind of the mathematical diagram which generally makes use of the Cartesian coordinates in trying to display the values for two separate variables in a group of data. 2.2 Trend lines in graphs to assist the forecasting business information Line graph: Based on the concepts of graph theory the line graph of an undirected graph G represents the adjacent edges as well as they are bipartite which includes multigraphs which would also include line graphs or weighted graphs. 2.3 Formal business report It has been found from the formal business report that there is huge prospect in the hotel and hospitality sector in London as because it is still not that much developed when talking about the restaurant industry. There has been an overall positive response from the customers based on the fact that they expect a lot of more varieties in the food segment and as the frequency of the visits are rising hence the demand of the customers has been that with economic pricing polices the restaurants should be able to provide quality food as well as variations. More than fifty percent of the respondents were of the opinion that they would change their taste of the hotels and preferences if provided with a good option. 2.4 Information processing tools There were several information processing tools which have been used in the decision making process. This includes the improved IT infrastructure for the decision-making process as well as trying to increase more and more analytical tools for improving the technical outcomes of the report. Strategic, operational and tactical all three segments can be improved based on the change in the digital tools. In operational level the hotel can keep a database of the regular day-to-day expense that is taking place. In the strategic level the hotel can do a competitor analysis to find out what are the areas in which the other organizations are doing better than them and can accordingly improve them. Budget creation for the whole year as well as maintain the supply chain management the information from several sources will be required. 2.5 Project planning and critical path method Activity Preceding Duration (Wks) Float Start None 0 0 A Start 1 1 B Start 3 2 C Start 5 0 D A 9 1 E B,C 2 0 F C 3 5 G D 4 1 H E 8 0 I F 2 5 End G,H,I 0 0 Table 1: Table showing the critical path method The critical path method is an algorithm for scheduling a set of project activities. CPM calculates the longest path of the planned activities to the logical end points where the earliest and of the projects and the latest starts and finishes off which helps in determining the critical activities where the total float is used. 2.6 Financial tools in evaluating the financial viability YEAR RATE INITIAL INVESTMENT PRESENT VALUE 0 10% 50000 $179,266.76 1 10% 45000 $147,193.44 2 10% 42000 $116,912.78 3 10% 37000 $86,604.06 4 10% 35000 $58,264.46 5 10% 32000 $29,090.91 NPV IRR YEAR RATE INITIAL INVESTMENT IRR 0 10% 50000 7% 1 10% 45000 7% 2 10% 42000 7% 3 10% 37000 7% 4 10% 35000 7% 5 10% 32000 7% In the two different methods of capital investment techniques it was found that the hotel will be able to improve on its profit sharing ratio to manage the continuity of the assignment. With an initial investment of $50000 the hotel will be able to earn more than thrice within its third and fourth year which is quite profitable. The IRR of the project is 7% which means that utilising the market rate and interest this amount of interest is possible because of the fact that as time grows the principle amount or the equity part will be reduced while the debt will go up. The biggest advantage of using this method is that the present value of the future income can be known as because the discounting factor is utilised. The challenges in using this methods would be the fact that for long-term projects the discounting factor keeps on changing which is not taken into account for NPV. In case of internal rate of return the values of two different projects are being compared and evaluated but the main problem in this is that the method of calculation is very complicated. Recommendation It was found from the analysis that the prospect of opening up of a hotel in the city of London is a very good investment proposal as because the deviation from the expected outcome is not much as well as there are issues regarding the quality of food and pricing policy of the hotels that will give it an added advantage. Reference List Books Brotby, W. (2009). Information security management metrics. Boca Raton: CRC Press.. Mendelsohn, L. (2012). Trend Forecasting with Intermarket Analysis. Hoboken: Wiley. Plummer, T. (2010). Forecasting financial markets. London: Kogan Page. Zhang, Z. (2014). Finance - Fundamental Problems and Solutions. Dordrecht: Springer Journals Carlson, K. and Wu, J. (2011). The Illusion of Statistical Control: Control Variable Practice in Management Research. Organizational Research Methods, 15(3), pp.413-435 GAO, X., XU, G. and ZHONG, Y. (2010). Software process control model based on critical path method. Journal of Computer Applications, 30(10), pp.2745-2748 Grigoletto, M. and Lisi, F. (2011). Practical implications of higher moments in risk management. Stat Methods Appl, 20(4), pp.487-506 Lee, S. (2014). The Critical Path Search Based on Dual-Path Competition Method. kiitr, 12(9) Manly, B. (2007). Using Statistical Methods for Water Quality Management: Issues, Problems, and Solutions. Journal of the American Statistical Association, 102(479), pp.1080-1080 Shata, O. (2012). Teaching Software Engineering: A Critical Path Method. IJCCE, pp.151-154 Wang, Y. and Zou, J. (2013). Statistical methods for large portfolio risk management. Statistics and Its Interface, 6(4), pp.477-485

Management Definition

Abstract Traditionally, management involved planning to have tasks accomplished. It also involved organizing the company to promote effectiveness and efficiency, motivating the employees and controlling to ensure that the organizational goals are met. This has been the standard management procedure that has been used by most corporate organizations.Advertising We will write a custom essay sample on Management Definition specifically for you for only $16.05 $11/page Learn More However, the 21st century has introduced a new work place in which every individual in the organization participates in the management process. Today’s society is constantly changing its demands and opportunities, thus there is no standard procedure for approaching business. Managers have shifted from the management position to become leaders who influence teams to complete the tasks ahead. The definition of the term management is diverse, and depends on each organizationâ₠¬â„¢s practice. Introduction Management is a difficult term to define because the world has become very dynamic. Leaders require continuous transformation and innovation to keep up with the changing demands. It does not have a standard definition since different organizations apply different practices to achieve organizational performance. While in the past management was more concerned on the conversion of input into output at a low cost, today emphasis have also been put on ensuring that consumer needs are met (Dyck Neubert, 2010). This paper will discuss on the various dimensions in the definition in management. Management Today Organizations are no longer structured and managers often find themselves attending to non managerial jobs where no one reports to them. This is due to the continuously changing nature of work and organizational demands. For a manager to have things done through people, he/she has to work amongst the teams so as to influence them. In such a scenario ever y individual works towards the defined goal including the manager. Today’s manager not only employs managerial skills in work but also gives a human touch to the tasks by involving employees. Working alongside the employees enhances flexibility and promotes teamwork. Fredrick W. Taylor introduced scientific management in which there is one best way for accomplishing each task. This is applicable today. However, in today’s management there is room for employees to apply innovative changes that improve their performance. Max Weber argued that bureaucracy makes everyone accountable for the activities that happen in the organization, today this has been enhanced by creating a sense of responsibility among the employees. Teams encourage employees to work towards a similar objective thus supervision roles have decreased tremendously (Reenen Bloom, 2010).Advertising Looking for essay on business economics? Let's see if we can help you! Get your first paper with 15% OFF Learn More Today the market is driven by consumer needs, therefore management performance is determined by the level at which the market needs are met. The change in management goals has resulted into a flexible work environment. Change has also been used by management as a way to gain a competitive advantage. Today management encourages employees to bring innovation into the organization by thinking, feeling or doing something different from the norm. Innovation does not change an organization’s past patterns but gives an extension to what already exists. Based on this, management differs from one organization to another due the existing culture and how this culture is enhanced. One organizations managerial practice may differ from the other depending on the decision making power given to employees. Therefore, a standard management practice does not exist in the modern work environment. Organizations are interested in meeting their organizational goals while stayin g ahead of the competition. The manager’s task is to utilize each employee’s strengths and knowledge to produce better results (Keller, 2011). In the modern economic times, business value is defined by the employees’ knowledge. Unlike before when workers represented undifferentiated groups who waited for the managers to give them tasks, today managers simply define the roles. This gives the employees the freedom to choose the best approach to deliver results. Therefore, today directing has been given another approach which addresses a knowledgeable worker. The role has advanced to include nurturing skills, developing talents and inspiring results. Defining this new role in management is difficult because different employees have diverse knowledge and needs. One employee’s needs are completely different from another’s yet it’s the same manager who serves both employees (Dyck Neubert, 2010). Managerial roles have been changed by globalization ; there are more opportunities and challenges that come with international business. The workforce has become very diverse expanding the managerial roles to include uniting people of different backgrounds. They are presented with the task of learning, adopting and facilitating change in the teams. This involves gathering knowledge and sharing it with the aim of improving organizational performance. This is a process which cannot be defined in the management functions since it is a continuous process whose approach depends on the setting. Management has been modified to fit the changing societal and specific organizational needs hence difficult to define (Reenen Bloom, 2010).Advertising We will write a custom essay sample on Management Definition specifically for you for only $16.05 $11/page Learn More Conclusion Management has shifted from the traditional roles whose main goal was to deliver results efficiently. Today organizations attach value to the quality of products and services provided. Effective and efficient production is not enough. Performance is defined by the level of customer satisfaction. This means that the employees and the managers have a similar task which is to satisfy customer needs. Management has become a continuous process specific to each organization. It concentrates on developing employees to increase knowledge, skills and develop talent with the aim of improving productivity. Management definition is relative to each organization since processes and procedures are unique in each organization. References Dyck, B. Neubert, M. J. (2010). Management: Current practices and new directions. Boston, MA: Houghton Mifflin. Keller, G. F. (2011). Comparing the Effects of Management Practices on Organizational Performance Between For-Profit and Not-For-Profit Corporations In Southeast Wiscnsin. Journal of Business Economics Research, 9(3), 29-38. Reenen, J. V. Bloom, N. (2010). Why Do Management Practices Differ Across Firms and Countries? Journal of Economic Perspectives, 24(1), 203-224. This essay on Management Definition was written and submitted by user Izabelle E. to help you with your own studies. You are free to use it for research and reference purposes in order to write your own paper; however, you must cite it accordingly. You can donate your paper here.