Operations and Project Management Report: XYZ Company New TV Launch

This report examines the application of operations and project management principles within XYZ company, an electrical and home appliance manufacturer, as it plans to launch a new 58-inch television. The report begins with an introduction to operations and project management, emphasizing the importance of these processes for business success. Task 1 reviews and critiques the implementation of operations management principles, including reality, organization, fundamentals, accountability, variance, causality, managed passion, humility, and success, along with the application of Six Sigma and Lean principles to improve efficiency and reduce errors. Task 2 focuses on a continuous improvement plan, detailing strategies to enhance promotional events, after-sales services, and overall consumer satisfaction. The report concludes by discussing the effectiveness of the project life cycle and the importance of continuous improvement in ensuring the successful launch of XYZ's new television product, offering recommendations for maximizing profits and customer satisfaction. The report analyzes the various principles and plans and provides insightful suggestions for improving the process.

OPERATIONS AND
PROJECT MANAGEMENT

Table of Contents
INTRODUCTION...........................................................................................................................1
Task 1...............................................................................................................................................1
P1 Conduct a review and critique of the implementation of operations management principles
within an organisational context.............................................................................................1
TASK 2............................................................................................................................................4
P2 Continuity in improvement plan based on review and analysis........................................4
TASK 3............................................................................................................................................8
P3 Apply each stage of the PLC to a given project................................................................8
TASK 4..........................................................................................................................................11
P4 Effectiveness of PLC in this project................................................................................11
CONCLUSION..............................................................................................................................12
REFERENCES..............................................................................................................................13

INTRODUCTION
Operations management is a process which deals in advancing day-to-day business
activities. Project management relates to planning, organizing, directing and controlling business
resources in order to achieve specific goals. With help of this process company can manage their
activities on regular basis and can improve their overall productivity (Burke, 2013). In this
report, company which is chosen here is XYZ which deals in electrical and home appliances.
Their main products are fridges and freezers, gas and electric cookers, washing machines and
electric friars. XYZ is planning to launch a new product, television 58' to its product list. They
have to manage operations as per requirements of customer and increased productivity. In this
report, discussions have been made on effectiveness of operations management principles.
Project life cycle have also been mentioned in this project. Application of project management
cycle in relation to this company has also been done in this project.
Task 1
P1 Conduct a review and critique of the implementation of operations management principles
within an organisational context
Operations management is a process of converting raw materials and labours of an
organisation into products and services, with a motive to increase their profitability in a dynamic
business environment. It helps an organisation in balancing their costs with revenue in order to
retaining their productivity for a longer run (Chen and et. al., 2011). In this context, XYZ is
already selling home appliances at a global level and now company decided to enter into Large
Television Market with a television size up to 58 inches. In this regard, it is essential for XYZ to
manage its new operation effectively in order to maximise its profits. There are some operational
management principles which are described below:
(a) Reality
In this present report, XYZ is launching its new television with a 58 inches screen, so this
management principle will helps the chosen organisation in giving more emphasis on the
problem rather than tools because tools are not helpful in solving their problems related to the
new product.
(b) Organization
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It is essential for XYZ to take part in manufacturing process and to make sure that all
elements should be predictable and consistent, which helps an organisation in generating same
revenue as compared to its other successful products in a business environment.
(c) Fundamentals
In this context, XYZ has to stick to its fundamental principle by taking proper inventory
records and system management. It will helps an organisation in gaining a competitive advantage
regarding its entrance in large television market.
(d) Accountability
In this management principle, it is necessary for managers of XYZ to formulate effective
roles and responsibilities to its sub-ordinates. It will helps an organisation in making its
workforce effective and efficient regarding the launch of new product.
(e) Variance
In this management principle, it is important for XYZ to encourage variance of processes
because they are launching their new television product in a competitive market. It will helps in
improving level of their creativity regarding the manufacturing of a new product.
(f) Causality
This management principle is based on the cause and effect relationship, it is necessary
for managers of XYZ to solve their underlying problem, so that it doesn't harm its new product.
(g) Managed passion
In this context, it is essential for XYZ to manage passion of its employees as growth of an
organisation is hugely depends upon its workforce. It will helps the chosen organisation in
making its workforce effective and efficient, which is crucial as they are entering in the new
market.
(h) Humility
This management principle stats that a manager of an organisation should avoid costly
trials and errors because it can affect its productivity in a business environment (Corder,
McLellan and Green, 2010). In this context, it is essential for managers of XYZ to get help and
move on regarding the task related to launching of new product in a market.
(I) Success
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In this report, the XYZ is launching new television in a market, so it is important to
identify interest of their customer and manufacture the product in accordance with the needs and
requirement of its customers.
Six Sigma
It is an approach used by organisations to eradicate errors in their business operations
(Cruz and Marques, 2011). In this regards, XYZ is entering in large television market, so six
sigma will helps them in reducing errors in their operations and improving their productivity.
The six sigma process is described below:
(a) Define
This process will help XYZ in identifying business problem, goals, and their available
resources. It will helps the chosen organisation in setting objectives and in clarifying facts as
they are launching their new television in a business market. It will also helps them giving best
quality products to their customers.
(b) Measure
It will help XYZ in measuring its need of improvement relating to its new products. In
this process, it helps an organisation in identifying what should be measured and how to measure
it.
(c) Analyze
In this regard, it helps XYZ in analysing the overall process relating to new television and
also in factors influencing the process.
(d) Improve
This process helps XYZ in identifying the factors that needs to be improved. As the
present organisation is entering in new market, so it is essential for them to implement
improvement in order to maximise their profit.
(e) Control
The main purpose of this process is to fix changes and to bring sustainability in an
organisation (Fleming and Koppelman, 2016). It will help XYZ in making sure that
improvements should be sustain relating changes in its new product.
Lean principle:
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It is a process which is adopted by an organisation to improve value for its potential
customers with limited resources. It will help XYZ in making their new product effective in a
business environment. There are five lean principles which are describes as:
(a) Defining value
It is a process used by an organisation to identify customers needs related to a specific
product (Garel, 2013). In this regard, it helps XYZ in manufacturing its new product in
accordance with the needs and requirement of its customers.
(b) Value stream
This process helps an organisation in eliminating wasteful steps arises in operating its
business activities. In this context, it will help XYZ in delivering best in quality product to its
customers.
(c) Create flow
After removing wasteful steps, the next steps is to evaluate that remaining steps are
functioning smoothly without any interruptions. This step helps XYZ in improving their
productivity in a competitive business environment.
(d) Establish pull
It is a process which helps an organisation in delivering its products right on time. As
XYZ is manufacturing its new product, so this process will helps them in saving money and also
in attracting their potential customers towards their product.
(e) Perfection
This process will help XYZ in organising its production activities in order to deliver their
new product effectively. It also helps in gaining competitive advantage in a business
environment.
TASK 2
P2 Continuity in improvement plan based on review and analysis
Continuous Improvement and its meaning
It is an ongoing process in which evaluation of products and services are done in
continuous manner to improve their quality. It helps company to increase their productivity by
implementing this process in their business strategy (Gunasekaran and Ngai, 2012). XYZ can
enhance quality of their services and satisfy their business, employee and consumer needs and
wants. Continuous improvement is a progressing function that can be done on regular basis
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through which this company can achieve their large process improvements. By enforcing this
mechanism company can lower their employee turnover and make more economical competitive
products and services. They can also provide better consumer service by adopting this
improvement service in their organisation culture. There is an continuous improvement plan
described below that can help company to increase value of their products and services in more
sophisticated and economical way :
CONTINUOUS IMPROVEMENT PLAN
Provider
Date
Source Anticipated Outcome Recent performance
level
Improvement in
strategies
Promotional events Bad promotional
activities not only
waste money but also
it drives existing
consumers away. By
lacking in
promotional activities
cost huge loss to XYZ
in their sales
performance. Lack of
effective strategies in
relation to promoting
their products and
services results in
losing attraction of
new costumers.
Effective advertising
in relation to any
product and services
help company to
generate attraction of
large population. If
there is less
advertisement of then
it is hard for people in
marketplace to get to
know about new
invention regarding to
any product or service.
Especially in relation
to, electronic products
like television
Promotion is vital
component for every
business to perform
their marketing
business efficiently. As
XYZ is launching their
new product in
marketplace, i.e., 58”
TV, their marketing
Managers must need to
adopt effective
strategies to promote
their products in proper
way. Company can
take benefit from
various websites and
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consumers first want
to make survey in
market before buying
and such product.
social media to
promote their product.
In addition to this, they
can summarise their
products details an
promote the same on
televisions and radio to
attract more
population.
After sales services It is very important for
company to take
feedback from
consumers whom their
sold their products and
services. In recent
days XYZ is generally
ignoring to listen their
consumers problems
after selling products.
Which caused them
slight loss of gaining
attraction of
consumers towards
their products and
services.
Consumers on
purchasing any
electronic appliances
in market generally
seek to have special
benefits with that
purchase. They want
to get benefits like
extra special discounts
an amazing offers and
addition to this they
also want warranty on
purchasing any
electronic appliances.
In order to fulfil needs
and wants of their
costumers, top
management of this
company must need to
implement strategies in
which they accomplish
their needs and wants.
They can satisfy their
costumers by providing
them extra seasonal
discounts and can also
by giving them gifts
hampers with every
purchase. Along with
this company can also
implement some
special selling and
advertising techniques
to attract and convince
buyers to by their new
products.
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Continuous improvement plan and its effect
It is basically a process which is designed to make regular change or improvement in
products and services. It benefits company to strengthen quality of their product in order to
increase satisfaction level of their consumers and enhance efficiency their productivity and
profits (Kerzner, 2017). XYZ can use continuous improvement process based on consumer
feedback. As this will allow them to enhance their product quality and product capabilities.
Company can also implement various strategies like proving discounts and gift hampers in order
to attract new consumers and satisfy existing. Marketing manager of company can advertise their
products on various websites, social media and television. This will help them to fulfil
satisfaction level of their consumer and enhance their profitability.
Effective strategies for implementation of continuous improvement plan
 Good employee-employer relationship- Effective relationship between an employee and
employer increase morale of workers and benefits company by increasing their profit. It
is very important for company management to establish smooth working relationship
between them in order to improve job performance. In context with this, it is major
responsibility of XYZ manager to maintain good employee and employer relationship for
effective results.
 Proper communication channel- Manner in which information flow in an organisation is
known as communication channel (Ogunlana, S .O., 2010). There are mainly three level
of effective communication which includes formal, informal and unofficial. Therefore,
XYZ need to have effective communication team who can select best channel of
communication. This can benefit company to maximize their profit and productivity.
 Priority to employees need- For betterment of company it is important for managers to
give proper priority to needs of their employees. This will give workers a reason to work
hard. It is essential for XYZ to be transparent about their goals. Company can never
accomplish objectives without having cooperation of their employees. Organisation can
provide various benefits to increase morale of employees. This will help them to enhance
their profitability and job performance of their workers.
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TASK 3
P3 Apply each stage of the PLC to a given project
Project life cycle
XYZ provide wide variety of products in the marketplace. With advancement in
technology company decided to add a new product in its bucket list i.e. television of size 58'.
Managers need a proper plan to execute all required activities to set up TV. Manager is supposed
to analyse existing televisions in market and techniques used in them ans as per those techniques
develop their own product and launch it in market (Pade-Khene Mallinson and Sewry, 2011). For
increased sales of their product it is should be unique and should have additional features.
People look for items which are unique, creative, innovative and which are affordable for
them. New strategies and policies are required to attract customers by analysing methods used by
competitors. This will give XYZ better promotional strategies with to respect to other companies
present in market. Techniques which can be used for assistance are -
Product Life Cycle: A new product goes through various stages which includes
production, capability and deterioration, this is referred to as product life cycle and is directly
related with changes in market scenario (Mir and Pinnington, 2014). It ranges from
manufacturing of products to delivering of products which gives complete information of
activities performed in marketing strategy. Product Life cycle includes 4 stages, they are
mentioned below -
Stage 1- Introduction
XYZ explored awareness of product and established market for its product. This stage
involves branding of product, created quality level and property protection such as trademarks
and patents.
Stage 2- Growth
In this stage XYZ build preferences of brand and focussed on increased market share.
Pricing (as demand increases,firm will earn high revenue) ,distribution (as demand increases,
channels are added to meet customers need) are included.
Stage 3 – Maturity
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Competition is increases with respect to similar products available in market so sales
diminishes. Prices should be lowered, features of product should be enhanced to encourage
preferences for competing product (Lindström and et. al., 2012).
Stage 4 -Decline
In this stage, profit and sales of product has declined due to high competition or new
products. Customers goes for new product rather then old products which will have direct impact
on sales of product.
Work Breakdown Structure
Projects is broken into small clusters which makes it easy and manageable, this is known
as work breakdown structure (WBS). WBS makes project readable and accurate, indicates
milestones and control points involved in this project, scope of project is illustrated. WBS also
helps in estimating risk, time and cost.
Gantt Chart
Gantt chart refer to graphical representation of schedule of project. Horizontal axis
represent total time required for project, vertical axis represent tasks that makes project and
horizontal bars represent time taken to implement project. It provides complete details of project.
They can be adjusted to change existing status of project to new status for which bars are present
complete shaded portion. Lines indicate dependencies between various tasks involved in that
project. Data may be represented visually.
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From the below mentioned Gantt Chart, it can be evaluated that finding the topic for
research was done in 10 days while drafting the aims and objectives consumed 6 days. Also, it
has been analysed that literature review was completed in 10 days. Collection of data through
research methodology took 7 days while analysing this information consumed 20 days. Devising
the conclusions and recommendations was done in 6 days while submission of final report was
done in 1 day.
TASK 4
P4 Effectiveness of PLC in this project
In the present scenario, XYZ is launching large screen television .i.e. 58 inches. There are
various problems faced by an organisation in launching new products in a business environment
(Lenfle and Loch, 2010). In this regard, operational manager plays a crucial in operating various
business activities related to the launch of new product. It is essential for manager of a chosen
organisation to make a proper plan for improvements in business structure.
The PLC will help XYZ in analysing the TV market and their potential customers in a
competitive business environment. It also helps an organisation in using Product life cycle
methods, Gantt chart, work breakdown structure to operate business activities in a proper way, in
order to improve their overall performance in a business environment.
In this context, PLC is essential for XYZ as they are launching their new product. It helps
them in investigating about various procedures that are required to operate various business
activities relating to the product. There are also various stages and management principles that
should be followed by XYZ in order to make their product successful and competitive. It will
helps an organisation in giving strong competition to their competitors (Mir and Pinnington,
2014).
It is analysed from the above discussion that although PLC is beneficial for the company,
this tends to increase the chance of making the project of entering into the television segment by
launching 58' TV look complex and difficult to employees and project leaders who are
responsible for execution of this project. The project budget associated with launch of new TV
set is already enhanced and the further cost of ensuring that all the activities are taking place as
per the structural steps of PLC can increase the overall cost of XYZ and thus this has to be taken
into account by the company.
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Cost saving techniques: Smart Thermostat and Cost-benefit analysis, less usage of paper
are some of techniques that can be used by managers and leaders of XYZ in Project Life Cycle
(PLC) and with the help of this, overall cost of the plan can be reduced to minimal. Since, this
organisation has kept its focus on building a new television, it will aid them in reaching to an all
new level. Using cost saving technique will directly help in minimising the cost of both PLC and
of new developed product as well.
Apart from this, there are many techniques which ensures quality, scope and tenure
in the project implementation and these are given beneath:
Benchmarking: It means using the results of quality planning on other projects to set
goals related to PLC. XYZ might find that the last project in company had 20% fewer defects
than the one before it. It is required to learn from a project like that and put in practice any of the
ideas they used to make such a great improvement. Benchmarks may aid in some reference
points for judging project before it is even started the work.
Control chart: This is being considered as another approach which needs to be used
which directly accepts overall limits. If some of the functions of a project are repetitive,
statistical process controls can be used to identify trends and keep the processes within control
limits. Part of the planning for controlling the quality of repetitive processes is to determine what
the control limits are and how the process will be sampled.
On the other hand, it is being critically analysed that, a number of approaches like System
theory and PLC can be used by both large and small scale project. But, it is required for project
manager to focus on the limits and costs (budget) of overall project which has been carried by
them so that they do not face any sort of issue related to the objectives of XYZ.
CONCLUSION
As per the above report, it has been concluded that operation management is a process
which deals in regular analysis of company day-to-day actives. Whereas, on the hand project
management regulates functions like planning, organising, controlling and managing related to
formulating of new products and goals. Company can implement continuous improvement
strategy to regulates their daily activities which can benefit them to improve their product
quality. By having effective continuous improvement plan company can satisfy needs of their
existing as well as new customers. They also use various strategies for implementation of this
plan. Company are require to make plans which can attract customers. There are various stages
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includes in product life cycle which a company have to take care. By taking care of all these
measures in concern company can increase their productivity and demand of new launched
product in marketplace.
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REFERENCES
Books & Journals
Online
Lean Operation Management. 2018. [Online] Available Through:
<https://study.com/academy/lesson/lean-operations-management.html>.
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