Improving Business Performance Executive Summary ZZA Accounting
Added on 2020-02-14
30 Pages6474 Words496 Views
Improving Business Performance1
Executive Summary Now a days, each organization places emphasis on framing the operational strategy with theaim to get the desired outcome or success. By framing the operational strategy business unit is ableto make effective use of the resources to the significant level. For this report ZZA Accountancy isselected who provides tax refund, self assessment, translation and bankruptcy services to thecustomers. ZZA Accountancy is facing 3 problems such as lack of online service, customer waitingtime and software program which may cause of declining the productivity and profitability aspects.On the basis of investment appraisal techniques it can be summarized that business unit needs todevelop online website which is financially more liable for the project. Further, business unit needsto undertake continuous improvement and radical change strategy which will help businessenterprise in achieving success in the dynamic business arena. 2
ContentsINTRODUCTION ...............................................................................................................................4TASK 1.................................................................................................................................................4Introduction of the organization.......................................................................................................4TASK 2.................................................................................................................................................4Stating the three changes to the operational problem......................................................................4TASK 3.................................................................................................................................................5Literature review on the investment appraisal techniques...............................................................5TASK 4.................................................................................................................................................6Calculating and evaluating the 3 options ........................................................................................6TASK 5 ..............................................................................................................................................10Literature on Radical change (RC) and Continuous improvement (CI)........................................10TASK 6...............................................................................................................................................11Evaluating change and using CI or RC approach .........................................................................11TASK 7...............................................................................................................................................11Constructing draft plan .................................................................................................................11TASK 8...............................................................................................................................................12Literature on project risk and identifying the risk factors ............................................................12TASK 9...............................................................................................................................................12Evaluating the draft project............................................................................................................12TASK 10.............................................................................................................................................12Modified draft plan .......................................................................................................................12............................................................................................................................................................18............................................................................................................................................................19appendix ............................................................................................................................................19References..........................................................................................................................................203
INTRODUCTION Business organization makes use of operational strategy which helps them in getting thedesired outcome or success. Operational strategy defines the ways in which company will employand make use of the resources for producing the product or services (Understanding operationsmanagement, 2016). In the present era, business enterprise frames operational strategy which helpsthem in making optimum use of resources, personnel and work process. Thus, by preparing suitableoperational strategy which supports the corporate aspects business unit is able to makeimprovement in their business performance to the large extent. Moreover, this strategy providesdeeper insight about the areas which company need to improve. Thus, by identifying this aspectcorporation is able to achieve success in the strategic business arena. For this project report report,ZZA Accountancy is selected as an organization. TASK 1Introduction of the organizationZZA Accountancy is the small sized business organization which established in 2009. It isself employed firm who serve approximately 200 customers. This accountancy firm offers widerange of services to the customers who include self assessment, tax refund, divorces, benefits,translation and bankruptcy etc. The profitability aspect of the company is constant because grossmargin of the accountancy firm is not increasing with the very high pace. Besides this, the processwhich is followed by ZZA Accountancy is highly stable. TASK 2Stating the three changes to the operational problemZZA Accountancy offers variety of services to their customers but still profitability aspect ofthe business unit is not very high. It indicates that company needs to make changes in its operation strategies and other aspects. Thus, by conducting investigation Accountancy firm has identified there are mainly three problems which might cause of sloe growth in profitability aspect are enumerated below: Online website: From investigation it has been identifying that ZZA Accountancy needs todevelop its online website. Moreover, due to the absence online services customers cannotcontact with the business unit through the means of internet. Besides this, customers are notable to get information or service through online. This aspect closely affects the convenienceof the customers to the large extent. Now, each person has smart and they make use ofinternet. Hence, customers prefer to make use of the services of firm who offers high level4
of convenience to them (Ramani, 2016). In order to overcome this problem company needsto develop effective and attractive website. Through this, Accountancy firm is able to makeinteraction with the large number of customers. It also offers opportunity to the business unitto serve the large number of customers. Thus, this strategy will provide assistance to thefirm in enhancing their productivity and profitability. Company is required to hire 2 employees: The problem which is facing by the accountancyfirm is the more waiting time of the staff. In the present time, customers do not want to waitfor the long time. High waiting time is one the main factors which closely affect hissatisfaction level of customers and hereby negatively hamper the gross margin of the firm.ZZA accountancy is facing this problem because they have very short staff as only onepeople who offers the services to thecustomers. Hence, business unit needs to employ twoemployees which enable them to quick or faster services to the customers. It also enablesfirm to serve more customers at one time. Hence, by offering the faster services small sizedbusiness unit is able evolve satisfaction among the customers which may turn into loyalty inthe near future. Further, when company serves more customers then it may also result intohigh profitability. Software operations: ZZA Accountancy also needs to employ latest software which helps them in resolving the problems or issue within the suitable time frame. Moreover, when business unit takes longer time to resolve the issues then it closely influence the satisfaction of the customers. Word of mouth publicity of the firm is also affected when company makes fails to offer suitable solution within the suitable timer frame. Thus, by offering the solution more quickly Accountancy firm is able to attract the large number of customers. It enables firm to maximize their sales and profitability aspects. According to the Hayes & Wheelwright model ZZA accountancy lies in the maturity phase.Moreover, in this company needs to make changes in their operational strategy which helps them inattaining competitive edge over others. Through this, business unit is able to convert maturity phaseinto the rapid growth. 5
(Source:Kerzner, 2013) 6
End of preview
Want to access all the pages? Upload your documents or become a member.
Related Documents
Operation Management in Asda Stores Ltd : Assignmentlg...
|31
|4545
|164
Performance Management Business Assignmentlg...
|16
|3835
|52
TASK 11 TASK 21 Investment appraisal techniqueslg...
|22
|6336
|81
Report On TESCO Plc - Issues While Implementing Changelg...
|23
|6486
|99
Assignment Business Administrationlg...
|16
|3359
|192
Quality Management Practices Assignmentlg...
|21
|3417
|80