Exploring Research Methodologies and their Applications
Added on 2020-01-07
17 Pages4516 Words133 Views
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Managing a Successful Business ProjectStudent ID:Student Name:Professor Name:
Table of ContentsIntroduction......................................................................................................................................3LO1 Project Aims, Objectives and Timeframes..............................................................................3LO2 Research on the Project Topic.................................................................................................6LO3 Communicating Recommendations......................................................................................11LO4 Reflection on Maintaining Sustainable organisational Performance....................................12Conclusion.....................................................................................................................................13Reference List................................................................................................................................142
IntroductionThe management of a business in a successful manner contributes to the growth anddevelopment of the business. The examination of the market environment, development of theemployees and creating profitable opportunities are the basics of successful businessmanagement. It helps in the viability of finance and potential growth of the project. The conceptof managing a successful business mainly comprises of a methodology having a set of processesand principles that are used to increase the profitability of the organization. The businessobjectives aim and goals can be achieved by following a set of strategies that facilitate theproject operations. This assignment will conduct a small-scale research on the management ofthe successful business by a company. The theme of the business project is human resourcemanagement and the topic chosen is the impact of training on employee development. Theassignment will also carry out a mini case study of the company John Lewis in order tounderstand the successful management of employee development.LO1 Project Aims, Objectives and TimeframesAs stated by Fisher et al. (2012), the application of various processes, skills, knowledge andexperience in order to achieve the project target and objectives constitute the projectmanagement. It involves the initiation, plan, execution, control and closure of the team project tomeet the specific goals and success criteria. Managing a successful project requires efficientplanning and execution of the objectives (Aryee et al., 2012). As stated by Kerzner (2013), the management of a project to make it fruitful involves six stages.They are the definition phase, initiation phase, the phase of planning, execution stage, controland monitoring stage followed by the closure phase. As stated by Turner (2014), the definitionstage includes the final clarification and setting up of the project objectives, purpose, goals,scope, possible risks, budget, approach and the timeframe of the project. As opined by Karatepe(2013), these are then communicated to the company’s stakeholders. Next is the initiation stage.Being the most important stage of the project, it includes a declaration of the business case, thescope of the case and setting up the expectations of the stakeholders. As stated by Mir andPinnington (2014), it is vital, because a poorly structured initiation phase often leads to failure ofthe project. As stated by Knobe and Nichols (2013), planning stage includes the creation of the3
outline of the project. The ways in which the project will be carried out are prepared in this stage.As stated by Manzoor (2012), execution phase constitutes the working of the set plan. As statedby Meng (2012), the project manager supervises the performance of the team members. Themanager also controls the monitoring stage. Reports are made on a regular basis about the risks,problems, and progress of the project to make sure that it is running on the right track. After thecompletion of the required tasks and getting client approval, the project is closed.Project management, as stated by Hwang and Tan (2012), is important because it increasescoordination among resources and helps to achieve the best results. It has several advantages thatcontribute to its importance. It helps to complete projects more cheaply and quickly. As stated byFowler (2013), the results can be predicted to a great extent with better planning. The effort ofthe workers, as well as the cost of the tasks, can be saved with proactive management of thescope. As stated by Young (2013), the future risks and problems are solved quickly. Thecustomer needs are met perfectly and the environment of the work is improved. This assignmentwill carry out a research of John Lewis to understand the successful management of it employeedevelopment.Project AimThe aim of the project is to understand the extent to which training programs contribute to thedevelopment of the employees. The study also aims to analyze the mitigation strategies of thechallenges faced by the company in providing training and development to the employees.Project ObjectivesThe focus of the study is the analysis of the impact of training on employee development. In thiscontext, the training processes implemented by John Lewis needs to be understood. Theobjectives for the project topic are:To understand the necessity of training practices for the workforce and development ofemployee performance To identify how John Lewis management develop their workforce through trainingcoursesTo identify the opinions of the employees regarding the training coursesTo analyze and recommend strategies to mitigate the challengesProject Scope, Risks and the Required Steps4
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