Managing Successful Business

Task 1

P1 Project aims and objectives

Corporate Social Responsibility is a kind of corporate self regulation desegregated into business  representation. CSR functions as a self enhancement contraption whereby a business supervise and assures its active compliance with the presence of the enactment, moral principals, native and global standards (Confidence key to managing a successful business, 2016) . A very common perspective of CSR is collaborative philanthropy it comprise pecuniary donations and facilitate to non profit administration and clique. The areas in which donation is made such as the arts, education, housing, health, social welfare and environment. Organization that reveals their allegiance to various reasons are perceived as more philanthropic than companies whose corporate social responsibility attempt non-existent. It increases media coverage so whatever company is doing for environment it doesn't effect. It boosts employees confrontation,draw investors attention, greater volunteer participation,foreign corporate fellowship, increase in creativity, expansion in professionalism. It is important for every company to conduct CSR programmes so that thy can maintain strong position in market.

The aims and objectives of Waitrose company has to be set in such a manner which has to be compile with corporate social responsibility. The sales managers has to set the objectives such as to discover the link between the CSR activities and competing the benefits. The manager has to make proper strategies and policies by which Waitrose can accomplish with their targets in time period. To minimise the impact of negative influence on environment. Through this they easily involve with the community life (Eckerson, 2010). They can build the strong relation with the representative of communities. While performing the activities it build sense and bond of solidarity with the environment. The aim of company is that to critically evaluate the role of CSR activities in which company can achieve their targets and gain the competitive advantage. The proper research should be made by the managers so that they can easily find out the what is the significance of CSR how it will give advantage to our company.

P2 Project management plan

Project management plan is a crucial part for any any organisation especially for waitrose. Project plan involves various factors like cost,scope,time,quality,communication,risk and resources so that optimum benefit to the organisation (Crane and Matten, 2016).

Followings are important steps in project management plan:

1. Presentation of project management plan:

As shareholders or owners are the most important entity of the waitrose (Zimmerman, 2011). So before preparing project management plan the project management plan is presented to the all stakeholders to make sure they agree with the foundation or base of the project plan.

2. Roles and responsibilities:

As in any organisation all stakeholders do not check every individual paper work about project management plan, so every role of each task should be allotted in advance to avoid any kind of confusion (Neely, Adams and Kennerley, 2012). Like roles, every responsible person of each activity included in project management plan is also decided by management.

3. An effective meeting about cost:

After deciding roles and responsibilities, an effective meeting is held for discussing about cost of the project. So that Minimum cost of the project can be decided at the maximum quality and profit margin.

4.Scope statement:

Scope statement includes future opportunities for the long term in the project management plan at Waitrose. This statement includes positive as well as negative possible results like opportunities as well as threats of the project management plan ion the future.

5.Cost and time schedule limit:

In this step resource of each activity is identified so that the cost of each activity involved in the project can be determined. The completion time in which it is calculated that how much time it will take to complete the task.

6.Staff plan:

As Waitrose is a very huge organisation so its project also needs a well managed staff to handle the whole project management plan (Ang and Buttle, 2009). Well planning of the staff makes it easy and effective to complete the project management plan in time.

7.Analysis of risk and quality:

In this step of project management plan the project team needs to analyse the risk involved in the project management plan so that it can be made sure that there will be minimum risk in the project in future after completion.

8.Final communication:

At the last step of project management plan all information about who will access the project management plan details and what media will be used for the implementation of the project at waitrose. The main content of the project is also communicated at final step of project management plan (Yeoh , Koronios and Gao, 2008).

P3 WBS and Gantt chart in project management plan

Work breakdown structure is like a basic foundation of project management plan of waitrose. This structure is is a hierarchical structure in which each task is divided into small activities so that it can be managed well to complete the project management plan. It is a deliverables oriented structure which makes it easy to manage a project management plan. Gantt chart is a also an another tools for project management plan. Gantt chart also makes complex project easy by a sequence of task and activities. In the Gantt chart all activities are interconnected. So if any activity or task is completed late then it will affect the completion time of another activity also and the cost of the project will be high.

Steps included in creating WBS for the proposed project management plan: As work breakdown structure is an important base of the project management plan,following important steps are include in the process of creating work break down structure:

1. Content: This is the first step in the process of creating work breakdown structure includes highest level entries. Main content heading is written in the first and the highest level entries in the work breakdown structure. The main content of the work breakdown structure should be chosen wisely as it is the most important part of the work breakdown structure creation.

2. Each level entries: The second step includes all sort of entries of each level entry whether it is highest or lowest level entry . The highest level entries is decomposed in many tiny low level entries which are part of single highest level entry.

3. Examine the entries: After decomposing the highest level entries into low level entries, all entries are examined to make sure that each entry whether of highest level or lowest level is on the right place or list. No entry should be repeated so it examined that all entries are correct under the main highest level entry. Thus WBS is completed.

4. Validation: After examining all entries in work breakdown structure and completing the work breakdown structure of waitrose , the whole structure part and entries are validated to make sure there is correct information of each entry.

5. Revaluation: This is the final step of creating work breakdown structure. In this step each tiny part of work breakdown structure is evaluated again. So that it can be made sure one last time that current objective of the project and original objective of the project management plan is compared (Cheyfitz, 2013). If there is a gap between the two then an appropriate action will be taken to avoid that gap.

Task 2

P4 Small scale research for meeting project aims and objectives

Waitrose uses small scale research includes mainly two research methods as quantitative method and qualitative methods. Quantitative method is that method in which whole research is made of numbers. The complete research report is prepared in numerical data for meeting the project aims and objectives. If any statistical data is to be calculated then only mathematical formula is used for that(Ang and Buttle, 2009). In quantitative research method information or basic data can be used from surveys, observation and the secondary data like company accounts or financial statements (Fernandez and Rainey, 2010). For example: A research report is to be prepared about the project of fluctuation in the number of employees in the organisation like waitrose. The first thing to do for research is to collect the data of the number of employees from the previous years to current year. Then the number of employee who are satisfied with their work place condition is asked so that it can be predicted if there is any possibility of leaving employees. The salary per person is calculated to evaluate the approximate salary paid by the organisation. Thus the quantitative method of small scale research for meeting project aims and objectives are more accurate and easy to understand and to make for project research for meeting project aims and objectives.

Qualitative research method is also an important method of small scale research for meeting project aims and objectives (O’Sullivan, 2012). This qualitative research method includes words or languages,pictures or photographs and verbal observation. This method is focused on deep result data and it is used mostly in the united kingdom. There is no limit of end result and observation in qualitative research method. Sources of qualitative method are interview, secondary data,observation,focus group and questionnaire. Quantitative research method report can be analysed by coding or structuring the data included in research for project of waitrose.

For example:As waitrose is a grocery product company. A demand of a particular product can be the subject of the research project. For research team to know how much demand in the market for its questionnaire can be used in which many sort of questions are asked like better,worst,neutral and best (FordMc and Dowell, 2009). These are the answers which are final data of research report. So in the qualitative method many observation can be mentioned from single answer. Thus the qualitative research method at small scale is more vast and deep than quantitative research method.

TASK 3

P5 The value of undertaking the research to meet objective and own learning and performance

The research plays a crucial part in achieving the objectives and uplifting performance of the waitrose(Aguilar, 2014). Research identifies new discovery and new ideas. The research is a popular technique to train the employees of organisation. For example: A testing of a product of waitrose is the subject of research (Ahmed and Capretz, 2007). For product which is being tested,the research is conducted by using the techniques like interview, questionnaire, observation, survey and many more.In these kind of techniques primary as well as secondary data is used to get optimum useful research report to full fill the objectives of organisation project. There are mainly two categories of research which are qualitative methods and quantitative methods.

By research the effectiveness of the advertisement of the product can be determined. A systematic study of new knowledge can be done through research. Research creates milestone and benchmark about the progress of performance of waitrose. In the research of a particular project the research plays an important role to achieve the goal of organisation. For that every task is to be divided in an appropriate structure(Meir, 2010). To divide there are two main structure for project research which are work break down structure and Gantt chart .In work breakdown structure there are tiny activity attached to every sing major task to be done so there will be ease to get everything done in an appropriate way.

Research help the organisation in improving its productivity in term of business performance. It mainly helps the business to be updated with the new time to time technologies. Research is a real asset to the business organisation in the long term to achieve the objective or goals of the particular project within a specific time (Neu and Brown, 2009). Research helps in understanding the current scenario of the product or anything related to the objective of the organisation. For example if waitrose conduct a survey asking about what is the current popularity of their product among public then there are many types of questions which are asked to the public to get information about the product quality, price reasonability, comparative product performance etc. So that the waitrose can make a decision about whether the product should be manufactured in the future or not and whether the product quality is to up to the mark in the sight of the customer or the competitive and substitute product is better or not.

Conclusion

After summing up the above report it can be concluded that for managing a successful business is a hard to maintain as well as easy if several useful tools and technique, methodologies are applied. For a successful business an organisation needs to make some efforts which are research, corporate social responsibility and many more strategies to make sure the achievement of its goal as swell as satisfying its customer at maximum level so that there will be no difficulty in maintain the goodwill of the business organization in the sight of its customer. Thus managing successful business is a crucial job for the management.

Referances

• Aguilar, F. J., 2014. Managing corporate ethics: Learning from America's ethical companies how to supercharge business performance.
• Ahmed, F. and Capretz, L. F., 2007. Managing the business of software product line: An empirical investigation of key business factors. Information and Software Technology.
• Ang, L. and Buttle, F., 2009. Managing for successful customer acquisition: An exploration. Journal of Marketing Management. 22(3-4). pp.295-317.
• Cheyfitz, K., 2013. Thinking Inside the Box: The 12 Timeless Rules for Managing a Successful Business. Simon and Schuster.
• Crane, A. and Matten, D., 2016. Business ethics: Managing corporate citizenship and sustainability in the age of globalization. Oxford University Press.
• Eckerson, W. W., 2010. Performance dashboards: measuring, monitoring, and managing your business. John Wiley & Sons.