jacintaspblstudy.blog

1. What are KPI’s?A Key Performance Indicator is a measurable value that demonstrates how effectively a company is achieving key business objectives.
   • What is your desired outcome?
   • Why does this outcome matter?
   • How are you going to measure progress?
   • How can you influence the outcome?
   • Who is responsible for the business outcome?
   • How will you know you’ve achieved your outcome?
   • How often will you review progress towards the outcome?

   Key Performance Indicators (KPIs) are the critical (key) indicators of progress toward an intended result. KPIs provides a focus for strategic and operational improvement, create an analytical basis for decision making and help focus attention on what matters most. As Peter Drucker famously said, “What gets measured gets done.”

   Whether you share a KPI report daily, weekly, monthly, quarterly, annually or all of the above, setting up a good KPI report platform is key to your success. NUMERICAL DATA that will help analyze.

How KPI’s help a company achieve profitability?

Organizations use KPIs at multiple levels to evaluate their success at reaching targets. High-level KPIs may focus on the overall performance of the business, while low-level KPIs may focus on processes in departments such as sales, marketing, HR, support and others.

To put an effective, measurable strategy in place, the number of strategic objectives has to be small.  there is a law of diminishing returns:

At a minimum 12 and at a maximum 36.  Follow the rules, tried and tested over 20+ years of usage, and you cannot go wrong.

• If I plan to do 1-3 things, I will achieve 1-3 things
• If I plan to do 4-10 things, I might achieve 1 or 2
• If I plan to do more than 10 things, I will achieve nothingWe recommend the SMARTER approach. SMARTER stands for Specific, Measurable, Attainable, Relevant, Time-bound, Evaluate and Reevaluate. (DEVELOPING A KPI)

1. How KPI’s are used in different situations?
   • Strategic Measures track progress toward strategic goals, focusing on intended/desired results of the End Outcome or Intermediate Outcome. When using a balanced scorecard, these strategic measures are used to evaluate the organization’s progress in achieving its Strategic Objectives depicted in each of the following four balanced scorecard perspectives:
     • Customer/Stakeholder
     • Financial
     • Internal Processes
     • Organizational Capacity
   • Operational Measures, which are focused on operations and tactics, and designed to inform better decisions around day-to-day product / service delivery or other operational functions
   • Project Measures, which are focused on project progress and effectiveness
   • Risk Measures, which are focused on the risk factors that can threaten our success
   • Employee Measures, which are focused on the human behavior, skills, or performance needed to execute strategy
   • An entire family of measures, including those from each of these categories, can be used to help understand how effectively strategy is being executed.

   Let’s say, for example, that your organization recently started a new product line or expanded overseas. If you don’t update your KPIs, your team will continue to chase targets that don’t necessarily capture the change in tactical or strategic direction.

   Consider this list of criteria when building out your key business performance measurement systems:

   1. Be based on quantities that can be influenced, or controlled, by the user alone or in cooperation with others
   2. Be objective and not based on opinion
   3. Be derived from strategy and focus on improvement
   4. Be clearly defined and simple to understand
   5. Be relevant with an explicit purpose
   6. Be consistent (in that they maintain their significance as time goes by)
   7. Be specific and relate to specific goals/targets
   8. Be precise – be exact about what is being measured
   9. Provide timely and accurate feedback
   10. Reflect the “business process” – i.e. both the supplier and customer should be involved in the definition of the measure

SOURCES:

What is a KPI? Definition, Best-Practices, and Examples. (n.d.). Retrieved March 1, 2020, from https://www.klipfolio.com/resources/articles/what-is-a-key-performance-indicator

How many KPIs do I need? (fewer than you think). (2017, August 2). Retrieved March 1, 2020, from https://www.intrafocus.com/2016/01/how-many-kpis-do-i-need/

KPI Basics. (n.d.). Retrieved March 1, 2020, from https://kpi.org/KPI-Basics/KPI-Basics

Employee Separation:  Is a sensitive issue for any organisation. Usually, an employee leaves the organisation after several years of service. Thus, the permanent separation of employees from an organisation requires discretion, empathy and a great deal of planning.

Employee separation costs:It’s difficult to estimate the costs of turnover can differ between organisations. 

Selection, training and separation costs: Hiring, and placing a new employee in the field. Training, travel to interviews, productivity lost in organising and arranging meetings. Training employee means paying them for not doing their job yet, plus employee losing their time. The biggest separation costs is compensation in terms of pay and benefits. 

 

 

What do HR management does? HR management ensures that human talent is used effectively and effi ciently to accomplish organizational goals.

Meet with the CEO and CFO to plan compensation budgets for the following year.

Discuss with an outside lawyer a racial discrimination complaint by a former employee who has been terminated because of performance problems.

Negotiates with the providers to increase benefits for the company.

Advise an executive on the process for terminating a sales manager whose sales performance and efforts were significantly below the goals set.

Discuss with the other members of the Executive Leadership Team (the CEO, the CFO, and division heads) an employee staffing plan for the following year and ways to reduce employee turnover.

HR MANAGEMENT ROLES 

Administrative: Focusing on HR clerical administration and recordkeeping

■ Operational and employee advocate: Managing most HR activities in keeping with the strategy that has been identified by management and serving as employee “champion”

■ Strategic: Helping to define the strategy relative to human capital and its contributing to organizational results

Outsourcing of HR Increasingly, many HR administrative functions are being outsourced to vendors. The HR areas most commonly outsourced are employee assistance (counseling), retirement planning, benefits administration, payroll services, and outplacement services.

HRM CHALLENGES

Employees divided in two: Line or Staff

Line Employee: They are in charge of producing company’s goods and services.

Managers: People who are responsible for how other workers perform in company.

Staff Employee: Support line employees.

Globalization is primarily an economic process of interaction and integration that’s associated with social and cultural aspects. However, conflicts and diplomacy are also large parts of the history of globalization, and modern globalization.

Legislation a law or set of laws suggested by a government and made official by a parlament.

Global Security and Terrorism Another global challenge for international employers is the threat of terrorism. International firms in many industries have dramatically increased security for both operations and employees. Terrorist threats and incidents have significantly affected airlines, travel companies, construction firms, and even retailers such as McDonald’s.

Workforce Demographics and Diversity The U.S. workforce has been changing dramatically. It is more diverse racially and ethnically, more women are in it than ever before, and the average age of its members is now considerably older.

Organizational challenges: An overriding theme facing managers and organizations is to operate in a “cost-less” mode, which means continually looking for ways to reduce costs of all types— financial, operations, equipment, and labor. To respond to organizational cost pressures and restructurings, as well as the other HR challenges it faces, the use of information technology of all types is transforming HR management.

HR technology has many uses in an organization. The most basic is the automation of payroll and benefits activities. Another common use of technology is tracking EEO/affirmative action activities. The greater use of HRMS technologies is affecting how HR activities are performed in many ways.

Productivity measures how much value individual employees add to the goods and services in the Organization.

Quality of worklife a measurement of how satisfied employees feel with their jobs.

Empowerment providing workers with the skills and authority to make decisions that would traditionally be made by managers.

HR Management as a Career Field There are a variety of jobs within the HR career fi eld, ranging from executive to clerical. As an employer grows large enough to need someone to focus primarily on HR activities, the role of the HR generalist emerges— that is, a person who has responsibility for performing a variety of HR activities.

 

 

 

 

 

 

 

What is international logistics pipeline?

The entire chain of storage facilities and transportation links through which supplies move from manufacturer to consumer, including port facilities, the central warehouse, regional warehouses, district warehouses, all service delivery points, and transport vehicles.

What elements increase distribution cost in international logistics?

Management of logistics is a key factor for satisfying demand in international             markets.

Collaboration among companies involved in the same supply chain also helps to        optimise resources, minimise the need for stock, and reduce supply times through the use of cross trade operations, for example by applying logistical optimisation systems like lean manufacturing.

THE MODE OF TRANSPORT: maritime, air, road, and railway.

What are the key factors for effective outbound strategy?

1. Identify Opportunities You most likely have information customers would value even if they aren’t asking about it, such as appointment reminders, membership renewals, or bills that are almost due.

2. Determine Delivery Methods Once you’ve identified proactive outreach opportunities, the next step is to determine the most appropriate method of delivery.

3. Establish a Compliance Practice One of the most important considerations often overlooked when implementing an outbound solution is developing a compliance and risk management strategy. There are a number of legal requirements that must be understood and taken into account.

4. Engage all Stakeholders Proactive outreach projects normally involve a number of functional groups within an organisation. While there may be a business unit that has the underlying need and that will guide setting the requirements for the project, it is important to consider all of the groups who will be touched by the final solution.

5. Develop Comprehensive Procedures Successful outbound campaigns comprise a complex web of interdependent parts. It is important to develop a clearly defined process along with procedures to ensure that all of your outbound requirements have been taken into account.

What are the foreign trades with China?

Foreign Trade Indicators	2013	2014
Imports of Goods and Services (in % of GDP)	22.1	21.4
Exports of Goods and Services (in % of GDP)	24.5	23.5
Trade Balance (million USD)	358,981	435,042
Trade Balance (Including Service) (million USD)	235,380	221,299

The direction of China’s trade has followed three major patterns since the 1930s. Prior to World War II, Japan, Hong Kong, the United States, and the United Kingdom together made up about three-fourths of the total trade volume. With the founding of the PRC in 1949, trade shifted in favor of the former USSR and Eastern Europe.

In recent years, as China has rapidly enlarged its role on the international market, the importance of Hong Kong as an entrepot and major source of revenue has increased. In 1992, Hong Kong accounted for close to 35% of China’s total trade (up from about 21% in 1986). Hong Kong reverted to Chinese rule in 1998, but because of its enormous trade activity, Hong Kong’s trade is often measured separate from China.

 

 

 

Click to access ken_logisticsdefinitions.pdf

5 Steps to an Effective Outbound Strategy

http://www.cargoflores.com/en/service/international-logistics-and-distribution/

 

Both articles talk about implement technology for training their employees.

The Mc’Donalds article explains how the benefit from technology to recruit and train their employees. They hace developed a training video which is easier for employees to watch and learn, and for Mc’Donalds this is better for saving tons of money. Later on, they algo talk about gamification and how they have used old board games on employees to create a team work, and to look out for skills, strengths and weaknesses in their employees. It explains how when they have dedicated 45 minutes in to a game, their are more inclined to be succesful and confident on doing their first job.

In the second article it talks about how a big company like Nandos has mantained their very succesful training excercises. “Nando’s also has a system whereby every restaurant has two “buddies”, responsible for training. They attend a buddy workshop to learn how to run interactive, dynamic and fun training sessions for restaurant staff. This program won a National Training Award in 2004” They rely on various tools such as, books to read before certain session, and homework for their employees. They make the employees play roles in the training to put them in circumstances where they might have to make a decision, this will let Nando’s know how capable are they, and what position are they most qualified for.

To me, both articles were very interesting, I learned that to keep big companies in control, happy and well trained employees are key. As it said on the second article, when Nando’s changed their strategy to train their employees, sales rose almost 60% higher because of more effective employees. So to keep sales up, and companies continuing to be succesful, there has to be a clear and effective way of training the employees; plus this strategy must be as cheap as possible and as inclusive also!

1) How to reduce risk when outsourcing logistics?

Lack of control over many aspects of the business is a major concern to many companies who are considering outsourcing logistics functions. Most important of these concerns is the lack of control over the general management of the department or function that has been outsourced.

The company will need to ensure it negotiates clear operating principles agreed by both partners as well as an agreed exit strategy on both sides. Without these agreements in place, the risks to the user company are very significant, potentially impacting heavily on the customer experience.

The 3PL will potentially have no experience or understanding of the core business of the company and will be motivated by profit and meeting the terms of the contract at the lowest possible cost. They may not share the same company culture and ethos as the commissioning company and therefore the company may experience what they consider to be a lowering of standards.

Outsourcing to a 3PL could potentially lead to a breach of confidentiality, resulting in the exposure of customer personal data or the sharing of commercially sensitive information. If a company were to consider outsourcing functions such as HR or recruitment, there are clearly obvious risks to the security of personal data which must be considered in the negotiated contract.
2) How robberies affect the company finance?

Crimes committed against business can be separated into two categories: those committed by employees against businesses and those committed by others. Crimes committed by employees which include theft, fraud, and money laundering.

Theft can be classified as stealing material items, submitting time sheets for hours that were not worked, embezzling funds and any other form of employee fraud. The average company loses as much as 5 percent of its annual revenue to fraud, according to the Association of Certified Fraud Examiners website.

Tension can arise between management and staff when stricter rules are put into place to prevent theft, such as surveillance cameras, identity badges and restriction of employee access to company materials such as office equipment and supplies.Tension can arise between management and staff when stricter rules are put into place to prevent theft, such as surveillance cameras, identity badges and restriction of employee access to company materials such as office equipment and supplies.
3) Which are the different types of transportation?

Ocean freight is a less expensive method of shipping goods, but the drawback is a longer transit time. Another benefit for ocean freight is while size and weight may be an issue for air; it is not for ocean freight. Ocean freight is also a preferred mode of transport for the movement of high volume and heavy cargo such as minerals, metals, ores, steel coils, etc. which would be impossible to move by air freight.

Air freight is a critical mode of transport. It serves markets and supply chains that demand speed. One of greatest examples goes back to 1997 when Apple began innovating on the nitty-gritty details of supply-chain management. Almost immediately upon Steve Jobs’ return. At the time, most computer manufacturers transported products by sea, a far cheaper option than air freight.But air freight also has its own disadvantages such as being one of the most expensive due to the requirement of speed and the fuel that is used.

Trains burn less fuel per ton-mile than road vehicles and a train, which can have as many than 100 wagons, only needs one driver. There are, however, some additional costs which are incurred in a rail journey: at each end of the rail transit, a road delivery will be needed, and there will be a lift cost to transfer the container between the train and the road vehicle.Longer journeys tend to be less expensive by rail, and shorter journeys are less costly by road. Where the point of cost neutrality comes is governed by many factors which are route and commodity specific, but in general, the point of cost neutrality can be expected to lie in the range of 130 to 150 miles.

Road freight is one of the most common of all modes of transportation. It is widely used in continents such as Europe, Africa, and North America. The single customs document process provides a seamless movement of goods even across various states and countries. However, truck transport is limited somewhat as to what it can carry by the size of the vehicles used and by size and weight restrictions. Another limitation is that it is affected by weather, road conditions and traffic.

 

Sources.

https://freighthub.com/en/blog/modes-transportation-explained-best/

https://smallbusiness.chron.com/consequences-employee-theft-11623.html

5 Risks When Outsourcing Logistics

1. What are the different entrepreneurial process steps?

2. How to recognise opportunities and take advantage of them when starting the entrepreneurial process?

Study the opportunity. Is it mysterious? If so, what could it be hiding? What can help you pull that opportunity towards you? Seduction of the business opportunity is a game of balance. You cannot be too eager or the opportunity will get suspicious and pull away. You cannot be too aloof, or the business opportunity will go to other entrepreneurs. You have to show that you are the proper person to get that opportunity. You have to treat it with the proper respect. After all, you are the entrepreneur who needs that opportunity.

Some entrepreneurs think business opportunities are like prey. These people watch their environment, hoping for any sign of business opportunities. Constant vigilance is their creed, and nothing can stand in the way of their success. By taking this mindset, you gain the instinct of the hunter. You become very competitive in terms of taking business opportunities. Sometimes, this is a good thing, leading you to your success.

Smart entrepreneurs view business opportunities as plants. They plant the seeds of opportunity and nourish it to make it grow into a successful business venture.

Some entrepreneurs see business opportunities as lucky coincidences or even a work of fate. They, of course, keep a lookout for business opportunities. However, they do not actively work to find some.

3. When to quit and how to recognise failure in a running business?

It’s too much to handle.

As a business owner, you cannot and should not do everything yourself. It is a recipe for disaster. A business needs someone to plan present and future strategy, handle day-to-day projects, market and promote and handle the finances. If the business is expected to grow, then you need a bigger team.

The thrill is gone.

It’s thrilling to say that you own a business, to hand out your cards and to find your website in a Google search. But the business of running your business can eventually take toll. As the boss, you are responsible for everything, including producing goods and services, payroll, providing health benefits and good customer service.  It’s a lot to juggle and maintain.

You don’t recognize yourself anymore.

As a business owner, you want to be a better version of yourself. You may be a little different, but not completely unrecognizable. Wilson says she eventually morphed into someone she didn’t know anymore.

 

Sources:

Barraza, C. (Ed.). (2019, January 3). Entrepreneurial process stages. Retrieved January 21, 2019, from https://www.barrazacarlos.com/entrepreneurial-process-stages/

Cauthorn, R. (2016, February 15). 12Click to share on Facebook (Opens in new window)12Click to share on Twitter (Opens in new window)Click to share on Pinterest (Opens in new window)Click to share on Google (Opens in new window)Click to share on LinkedIn (Opens in new window) 4 Key Ways How Entrepreneurs Take Business Opportunities. Retrieved January 20, 2019, from https://magazine.startus.cc/4-key-ways-how-entrepreneurs-take-business-opportunities/

Mitchell, D. (2015, September 08). 3 Signs That You Should Shut Down Your Business. Retrieved from https://www.entrepreneur.com/article/250267