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Business Problems and Recommendations : Case Study

   

Added on  2020-06-06

13 Pages4061 Words33 Views
Professional Development
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ManagingCommunications,Knowledge andInformation
Business Problems and Recommendations : Case Study_1

Table of ContentsINTRODUCTION...........................................................................................................................1TASK 1............................................................................................................................................11.1 Range of decisions................................................................................................................11.2 Information needed to ensure effective decision taking.......................................................21.3 Internal and external sources of information........................................................................21.4 Recommendations for improvement.....................................................................................3TASK 2............................................................................................................................................32.1 Stakeholders for decision making process............................................................................32.2 Develop business relationships with stakeholders................................................................42.3 Involve stakeholders in decision making process.................................................................42.4 Strategies for improvement...................................................................................................5TASK 3............................................................................................................................................53.1 Process of communication....................................................................................................53.2 Ways to improve appropriateness.........................................................................................63.3 Implement improvements in communication system...........................................................73.4 Personal plan to improve communication skills...................................................................7TASK 4............................................................................................................................................84.1 Approach of collection, formatting,storage and dissemination of information andknowledge...................................................................................................................................84.2 Changes to improve collection, formatting, storage and dissemination of information andknowledge...................................................................................................................................84.3 Strategy to improve the system.............................................................................................8CONCLUSION................................................................................................................................9REFERENCES..............................................................................................................................10
Business Problems and Recommendations : Case Study_2

INTRODUCTIONManaging knowledge and information in an enterprise is one of the important task. It isvery essential for an enterprise to have sufficient dataabout all the changes that take place in thebusiness environment in order to make necessary changes (Yates and Paquette, 2011). Relevantdata helps the firm owners in taking effective decisions. Present report is based on a case study inwhich a person is facing many business related problems and many recommendations are givento him in order to run all the activities in an effective manner. Decisions taken by enterprises onvarious levels including strategic, tactical and operational level are described under the report.What type of data is relevant for business owner in taking important decisions are alsodiscussed under this. There are large number of internal and external sources which provideuseful information to the owners.TASK 11.1 Range of decisionsA large number of decisions are taken on various level of business whether business is asmall entity or a large enterprise. Decisions are taken on basically three levels includingstrategic, tactical and operational level. In order to set up a coffee shop in the business David hasto take a long range of decisions. The decisions taken by the David include the following:1.Strategic level: This is one of the most important and top level of a business, allimportant decisions are taken under this level. All the decisions taken under this levelhave long term impacts on the business activities. For coffee shop strategic decision canbe how much to invest in the business whether remain in the coffee business or not.2.Tactic level: All the set strategies are implemented under this level of business. Underthis level medium term decisions are taken by the business owners. For a coffee shop atactical decision would be whether to open the coffee shop early in the morning to attractlarge number of people or to open it at late nights or in evening.3.Operational level: Day to day and routine decisions are taken under this level. All thesedecisions are mainly managed by junior managers of enterprise (Holsapple, 2013). For acoffee shop a tactical decision includes whether to give an order to buy extra coffee in thecoming week.1
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1.2 Information needed to ensure effective decision takingA lot of data are needed by any enterprise to take effective decisions. (Holtshouse, 2013).In absence of proper content or relevant data effective decisions cannot be taken by the firm andto deliver good products and services to the customers, it is very important for a firm to takeeffective decision and for that decisions following contentinformation are needed:Up to date datainformation: It is very important for a business to have up to dateinformation about the business environment and about the changes that take place in it.Because business world changes very fast so it is very important to have the informationabout it.Information about competitors: A business owner or a company should have all thecontentinformation about its competitors to deliver better services than its competitors.Same as with the David, he should have the proper and relevant subjectmatterinformation about coffee shops that already exist in that area and what are the trends thatare changing place to deliver better services to the people and at the same time to attract largenumber of customers. 1.3 Internal and external sources of informationData can be collected through number of sources from which some can be internal orsome can be external.1.Internal sources: Internal sources of the enterprise or a business firm include thefollowing:Financial datainformation: This contentinformation are available through the financialstatements of the enterprise including profit and loss statement and balance sheet. Manufacturing information: This datainformation include the data related about theproduction, raw material cost, distributors and many more.Personal and administration information: Under this all the personal and backgroundcontentinformation of employees comes.Marketing informationcontent: This include content related with the products andservices offered by the enterprise to its customers.2.External sources: These are outside sources of the enterprise and provide valuabledatainformation to business owners about the changes that place in the outside world(Kebede, 2010). This information can be collected through various sources including2
Business Problems and Recommendations : Case Study_4

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