BSBMGT617 Develop and Implement a Business Plan Assignment Help

BSBMGT617 Develop and Implement a Business Plan Assignment Help

BSBMGT617 Develop and Implement a Business Plan Assignment Help

Assessment Task 3

Solution1

The ways through which one can prioritize work are as follows

Collect a list of all your task- At beginning of a day note down the task you consider getting done in a day and by when.

Identify urgent v/s important- Task should be ranked according to its importance and urgency and focused accordingly. Give attention to the task which if not completed in prescribed time may lead to negative consequences.

Assess value- Next is to classify from the important task the work which carries highest value to your working environment i.e. to recognize the task which should be given top priority among other important task (Goal, 2015).

Order task by estimated efforts-Check the estimate of your priority task and start the task which involve maximum efforts and attention.

Be flexible and adaptable-One should be dynamic to its changing environment and should stay focused on task to committed to complete.

Know when to cut- After prioritizing the task estimate its time. If your planned list could not be completed in a predetermined time period cut the remaining least important task from your list and focuses on the priorities.

BSBMGT617 Develop and Implement a Business Plan Assignment Help

Solution2

Difference between efficient and effective-Efficient is described as when the given task is completed in prescribed time period with low cost effect whereas effective is considered to complete a task in given time period.

Difference between urgent and important-Urgent task are those which require immediate attention and have a deadline or a deadline that have passed whereas important task are those which do not require immediate attention neither have any deadline but may have impact on the surrounding environment (Sledge and Lazar, 2014).Mangers while working in the most effective and efficient manner works with the optimum utilization of organizational resources resulting in increase in production and profit and reduction in its cost which make them dynamic and leads to positive internal and external working environment.

Solution3

Characteristics of effective monitoring system

Accurate – It should effectively monitor the accuracy of the information received by manager to control task.

Timely- Information should be collected and evaluated timely and if corrective actions are to be taken could be taken with a decent time.

Objective and comprehensible- information in control system should be understandable and seen as objective by the individual who use it (Aziz and Selamat, 2016).

Focused on strategic control points-It should focus on the areas which may have deviation and if not corrected in time could cause harm.

Accepted by organizational members –it should be accepted by the employees, control must be meaningful and helpful for the organizational objectives.

Solution4

Steps to monitor self-performance

1. Self-observation and the feedback from employees.

2. Comparison between actual and set standard, finding the deviation and take corrective actions.

3. Identifying the reasons for the deviation

4. Implementing new plans to improve the performance.

Solution5

Pareto principle is theory reflecting in a situation where 80%of the output is determined by 20% of the input. After analysing the study conducted past two week we have identified the key factor which affects the performance at the workplace. The effective utilize the study time we needs to make the proper allocation of the work to the key activity of the business.

Solution6

Direct supervision-direct supervision is when the superior guide its staff at the time of performing the work. Only the key activity of the business needs to be supervised.

Standardization of output-The target against which performance is to be measured and the activity requires lot of time.

Standardization of skills-it involves coordinating between the various activities of the business and involves lots of time and complexity.

Solution7

Networking may be defined as medium of exchange of ideas among individuals or groups which form a professional relationship.

Benefits of networking

Increased business- This help in creating referral which are of high quality or pre-qualified for business which through follow up could turn into clients (Rongen, et. al., 2013).

Opportunities- opportunities like joint venture, partnership comes through networking which leads to growth in business.

Connections-  this provides great source of connection where highly intellectual people are there to advice.

Scores

Informal networks- 4 (The useful information cannot be communicated by this method)

Formal networks-7 (involves lots of complexity)

E-networks-9 (easy to communicate within the workplace)

Solution8

Organization will be more competitive and a good leaner. It will focus on identifying customer value, more dynamic to the environment, less hierarchical as it will not take time to respond to the changes. It will be a team based organization where workers will not be managed to comply with rules and regulations.

Solution9

Feedback ensures 3 elements to ensure its effectiveness

Specificity- It should be related to specific goal and helps to increase employee’s performance.

Timelessness – Employees should receive feedback on time about their performance so if any improvements needed could be done on time.

Manner- It should be given in manner which is helpful to improve their performance and should be given in positive way to increase the moral of employees.

Solution10

Management development activities-

1 Making important changes-they need to make important changes effectively to facilitate professional growth.

2Team buildings–It is a useful tool for managers to work effectively and efficiently.

3 Keep work flowing- They should focus on workflow and should take care that work should not stop due to any uncertainty or inadequate staff training.

4 Creative- they should have creative imagination and think out of the box to open door to new approaches.

5 Employee rewards- they should acknowledge the strengths of employees and know when to reward them.

6 Different thought process-they should think creatively to handle challenges and undetermined consequences.

References

Aziz, S.F.A. and Selamat, M.N., 2016, “Stimulating workplace learning through training characteristics and motivation to learn”. JurnalPengurusan, 48.

Goel, R., 2015, “Does Diversified Workforce Lead towards Workplace Effectiveness?-An Empirical Study of It Sector”. The International Journal of Business & Management, 3(10), p.113.

Rongen, A., Robroek, S.J., van Lenthe, F.J. and Burdorf, A., 2013, “Workplace health promotion: a meta-analysis of effectiveness”, American journal of preventive medicine, 44(4), pp.406-415.
Sledge, W.H. and Lazar, S.G., 2014, “Workplace effectiveness and psychotherapy for mental, substance abuse, and subsyndromal conditions”,  Psychodynamic psychiatry, 42(3), pp.497-556.