COIT 20252
“Business Process Management”
E-Portfolium 1
Business Process Strategy
Contents
1. Porter’s Five Forces Model Analysis on Airbnb.
2. Balanced Scorecard Implementation
3. Strategic Planning and thinking
4. Components of a Strategy Plan
5. Process Improvement by Six sigm
1. Porter’s Five Forces Model Analysis on Airbnb
This paper discusses the Airbnb website that allows ordinary people to rent their residence as tourist accommodation. Investigation Airbnb terms of Porter’s Five Forces Model reasoned that from the fifth models of Porter, Rivalry Among Existing Competitors framework, Threat of New Entrants, Threat of substitute Products or Services and Bargaining Power of Buyers which is the weakest among all (Nurlansa and Jati, 2017).
Figure 1. Five Forces Shaping Industry Competition
Source : Analysis Porter’s Five forces Modelon Airbnb (Nurlansa and Jati, 2017)
I choose this journal because it shows that the final goal is the competitive strategy for tackling the environmental forces in the interest of the company and it is done by the recent changes in the financial services sector payments, especially those related to mobile payments that allow new channels for customer payments for the purchase of goods and services, and other forms of economic exchange (Nurlansa and Jati, 2017).
2. Balanced Scorecard Implementation
This conference visualizes the Balanced scorecard implementation which helps as a tool for measuring the performance and also acts as a framework to determine how an organization is structured for human, information, and strategy for organizational initial investment (Siemionek-Ruskan, 2019).
This conference paper signifies that a Balanced Scorecard is a significant tool for business strategy management which is done by improving the efficiency of the tools that are already being used and implementing a Balanced scorecard into different stages to gain a positive outcome(Siemionek-Ruskan, 2019).
3. Strategic Planning and thinking
This video is about strategic planning and thinking, where Strategic Planning is a process of leading and directing an organization to a smart path towards success which guides people according to their priorities, allocate various resources, and plan how to achieve goals but strategic thinking is a process where we and our teammates create a path to success.
Video 1: Difference Between Strategic Planning and Strategic Thinking
From this source, we have analyzed that for the business Process strategy we must put away the assumption of the past, how things work and always focus on a new strategy to put the small decisions in the context of the organization broader long-term goals, we need to keep alert to our industry, look for any opportunity to serve the customers better away, competitors and to frame decisions based on the future rather than simply reacting about the present (Harvard Business Publishing Corporate Learning, 2017).
4. Components of a Strategy Plan
The picture in the scenario mainly visualizes the component of a strategic plan to meet the needs of a given business. For this, alignment with business strategy and objective is necessary because business strategy requiring large capital in IT infrastructure should be called out for the long-term initiatives for example if one business strategy is to have a better customer experience we must develop a suite of mobile apps or we must partner with best IT expertise with necessary skills to provide better dynamic and cheaper service (Resolute, 2020).
Figure 3: Process for the application of Integrated Road-mapping
Source: (Resolute, 2020)
Therefore, an IT strategy often covers a set of principles to govern the appropriate level of diligence or risk-taking on new technology trends for different business goals. Thus, we need to adopt or refine the IT solution and IT test strategy considering people, process, and technology to settle on a strategic plan working for IT as well as the business (Resolute, 2020).
5. Process Improvement by Six sigma
This conference paper studies a food processing company for production and packaging which aims for the right tools for its business satisfaction, quick customer satisfaction by cost, quality, process, speed, and the initial investment. The company applies DMAIC (define, measure, analyze, improve and control), SIPOC, VSM, and 5s methods to reduce production fluctuations using lean and six sigma initiatives (Nandakumar, Saleeshya, and Harikumar, 2020).
Figure 4: Fishbone Diagram Showing the Root Cause effect
Source: (The Barone Zone, 2015)
This paper clearly shows that even a food processing company needs a strategy to identify its root problems and tackle the cause of the problem to improve the sustainability of the system by deriving the sustainability metrics such as social, economic, and environmental metrics known as Triple bottom line for creating a greater business value (Nandakumar, Saleeshya and Harikumar, 2020).
References
Harvard Business Publishing Corporate Learning (2017). The Difference Between Strategic Planning and Strategic Thinking. YouTube.
Nandakumar, N., Saleeshya, P.G. and Harikumar, P. (2020). Bottleneck Identification And Process Improvement By Lean Six Sigma DMAIC Methodology. Materials Today: Proceedings, [online] 24, pp.1217–1224.
Nurlansa, O. and Jati, H., 2016. Analysis of porter’s five forces model on Airbnb. Evo (Electronics, Informatics, and Vocational Education), 1(2), pp.84-96.
Resolute. (2020). An Example of a Well-Developed IT Strategy Plan.
Siemionek-Ruskan, M., 2018, May. The Concept of the Balanced Scorecard Implementation for the Polish City of Olsztyn. In Annual Conference on Finance and Accounting (pp. 329-339). Springer, Cham.
COIT 20252
“Business Process Management”
E-Portfolium 2
Business Process Strategy
Contents
Capability Maturity Model for Organisation’s Software Process
Enterprise Architectural Approach to Mining Companies Engineering
SCOR Framework in Retail Company
Business Process Reengineering an ICT approach
https://pagead2.googlesyndication.com/pagead/js/adsbygoogle.js?client=ca-pub-4462760071454301 (adsbygoogle = window.adsbygoogle || []).push({});Functional Organizational Structure
Capability Maturity Model for Organisation’s Software Process
This picture describes the Capability Maturity Model (CMM) which is a technique used to create and refine an association’s product improvement measure. The model depicts a five-level developmental way of progressively coordinated and deliberately more develop measures and extensively alludes to a cycle improvement approach that depends on an interaction model – an organized assortment of practices that portray the attributes of viable cycles
Figure 1: CMMI Levels
Source: (Softwaretestingstudio.com, 2021)
I chose this picture as each level positions the association as indicated by its normalization of cycles in the branch of knowledge being evaluated. The branches of knowledge can be pretty much as assorted as computer programming, frameworks designing, project the executives, hazard the board, framework securing, data innovation (IT) administrations, and workforce the board.
Enterprise Architectural Approach to Mining Companies Engineering
The paper depicts the undertaking design approach for management system designing of the mining endeavors and the way to deal with the turn of events and execution of a coordinated administration framework dependent on the idea of big business design and the construction of data frameworks and data innovation foundation of the mining undertaking (Ilin, Levina and Iliashenko, n.d, 2017)
Figure 2: Enterprise Architectural Model of a mining Company
Source: (Ilin, Levina and Iliashenko, n.d, 2017)
I chose this article because of complex approach to the development of business management system is realized by using enterprise architecture concepts which guarantees full straightforwardness of the primary and helper businesses and give overseeing a staff of the organization with viable apparatuses for dynamic to improve the effectiveness of creation and business because of the chance of operational control of item guide; assurance and reasons for disappointments/encroachments (Ilin, Levina and Iliashenko, n.d, 2017)
SCOR Framework in Retail Company
This paper describes the implementation of Business process management methodology in a retail company that provides different processes, their metrics, benchmarking, and symptomatic instruments to help in association in upgrading production network measures. There are different models containing multiple sections which include executive measures, like Plan, Source, Make, Deliver, Return and Enable (Andrejs Girjatovičs, Laila Māra Rizoto-Vidalia-Pessoa, and Oksana Kuzņecova, 2018).
Figure 3: SCOR Process
Source:(Andrejs Girjatovičs, Laila Māra Rizoto-Vidala-Pesoa and Oksana Kuzņecova, 2018)
I choose this model as it can be utilized to portray cycles of supply chains that are straightforward or extremely complex utilizing a typical arrangement of definitions. Thus, cycles of organizations from various businesses can be estimated against industry peers utilizing similar measurements.
Business Process Reengineering an ICT approach
This book describes the business process reengineering focusing on reanalysis of business measure, reevaluating technique, and coordinating both the utilization of data innovation (IT) and cycle overhaul to accomplish an uncommon improvement in proficiency just as to diminish wastage of endeavors to begin working from the start stage until toward the rehash and guide them to accomplish an improvement in execution and income (Chen et al, 2019).
Figure 4: Business Process Reengineering
Source: (Consultus.hr, 2018)
I chose this book because it gives a clear idea that BPR is a procedure for refreshing and revamping how the work is done to help the affiliation’s focal objective and diminish costs more readily featuring the importance of IT in business strategy which underlines that ventures can make their undertakings less mentioning, upgrading connection, satisfying enormous change, expounding the accomplishment of IT empowering the associations to engage in business reengineering (Chen et al, 2019).
Functional Organizational Structure
This video illustrates a clear picture of Functional process management in any business. An organization is divided into various functions and departments having their own set of tasks, resources, and budget to carry out. Data is passed from the functional level to the central level, and they collate and analyze the data for planning, control, and decision purposes (AC Training, 2016).
From this source, we can analyze that through specialized teams we can standardize systems and procedures throughout the organization which helps to ensure business process strategy. There is greater communication between employees and managers, and it helps to improve the efficiency across the board and the economy can scale up to a good level.
References
AC Training (2016). Functional Organisational Structure – A-Z of business terminology. YouTube.
Andrejs Girjatovičs, Laila Māra Rizoto-Vidala-Pesoa and Oksana Kuzņecova (2018). Implementation of SCOR Based Business Process Framework for Logistics and Supply Chain in Retail Company. Information Technology and Management Science, [online] 21(0), pp.69–74.
Consultus.hr. (2018).
Ilin, I., Levina, A. and Iliashenko, O. (n.d.). Enterprise architecture approach to mining companies engineering.
Softwaretestingstudio.com. (2021).
Susanto, H., Leu, F.Y. and Chen, C.K., 2019. Business Process Reengineering: An ICT Approach. CRC Press.
Business Process Management (BPM) E-portfolio 3 final Report of 2020 term 1 of Central Queensland University (CQU)
https://pagead2.googlesyndication.com/pagead/js/adsbygoogle.js?client=ca-pub-4462760071454301Table of Contents
Application of kaizen in Large scale industry
Business Modelling Notations for Business Improvement
Cost Reduction through lean kaizen using Value Stream Map
Application of kaizen in Large scale industry
I choose this book as Kaizen implies persistent a lean administration model that imagines the support of all directors and representatives in organizations. This model predicts that consistent improvement ought to be made in each part of business and public activity (Tekin et al., 2018).
Table 1: Hierarchical Structure of participation in kaizen Studies
Figure: Current Packing System
Source: (Tekin et al., 2018).
This chapter mainly emphasizes on Kaizen examining extraordinary outcomes with enhancements in little advances so that inventive outcomes with little however sure advances have been accomplished. Kaizen is an essential instrument that gives an apparatus and conquer the organization’s goals by disposing of waste during the time spent creation, changing corporative culture, and empowering cross-practical connections between the administrative staff and creation laborers, just as joining hierarchical and base up administration (Tekin et al., 2018).
Business Modelling Notations for Business Improvement
https://pagead2.googlesyndication.com/pagead/js/adsbygoogle.js?client=ca-pub-4462760071454301 (adsbygoogle = window.adsbygoogle || []).push({});This journal explains Business Process Improvement which is a tool that when utilized efficiently created to help organizations or associations to improve business measure activities. BPI gives techniques that help with smoothing out business measures while guaranteeing inside and outer clients of the association to improve yield.
Source: (Negara, Y.D.P. and Doni, A.F., 2020)
I choose this article as it focuses on the primary goal of Business Process Improvement to guarantee that associations have business measures that limit defers that are not difficult to utilize, giving the association an upper hand, utilizing business measures by demonstrating Business Process Modeling Notation (BPMN), at that point examining the exercises of every movement at BPMN and giving suggestions by considering 12 smoothing devices for business process improvement.
Cost Reduction through lean kaizen using Value Stream Map
This article exhibits the cycle for critical cost decrease and quality improvement in a Small and Medium sized Ventures (SMEs) by applying Lean-Kaizen idea utilizing Value Stream Map (VSM). A current stream state guide of ‘gear area’ was set up from information gathered by taking individual visits to the chose fabricating industry (Dhingra, Kumar and Singh, 2019).
Table 2: Benefits of Using VSM
This contextual investigation attempts the execution of the lean-Kaizen idea with value stream map for distinguishing furthermore, tackling quality issues and accomplishing business quality improvement inside chosen association to overcome any barrier between the current and future state of business industry and information acquired, announced advantages making a difference to handle failures in the cycles and give openings for diminishing expense by applying little changes across the association(Dhingra, Kumar and Singh, 2019).
Lean vs six sigma
This video describes about six sigma which focuses on quality what the organisation deliver, reducing variations and analysis of the actual work that is being done where as lean is optimal for analysis between activities in a process business management tools to optimize processes, providing value for the customers with the lowest possible effort reducing waste and increases the quantity of production or services making the process simple so that the employees could put more effort in a task.(LSV Group A/S, 2016).
I chose this video because it describes that choosing six sigma and lean focuses on striving to get zero possible errors but errors can be hard to avoid so in order to achieve six sigma quality, a process must not produce more than 3.4 defects for every million oppurtinities Thus combinig these two we can achieve highest net earning with more satisfied employees and happier customers (LSV Group A/S, 2016)
This diagram represents the SIPOC diagram which is a tabular summary of the inputs and outputs of one or more processes identifying problems and removing areas that add up little value and also addressing important questions during discussions. (Arjun RK,2019). It is also used to document the high-level process where each processes output should satisfy customer expectations (Salah, S. and Rahim, A., 2018)
Figure : SIPOC Diagram
Source: (Arjun RK, 2019)\
Figure: SIPOC Diagram
Source : (Amit, 2017)
I chose the above diagram because it represents the SIPOC diagram which is used to kick-start problem-solving within the business process and is first step in creating a process map (Arjun RK ,2019). The main advantage of the diagram it helps in setting up the worth stream planning exercise by understanding the fundamental stream of who the client and provider are, thus helping in the business process improvement process (Salah, S. and Rahim, A., 2018).
References
Amit (2017). SIPOC Diagram: Definition and Steps. [online] Tallyfy.
Arjun RK (2019). SIPOC Diagram: Suppliers, Inputs, Process, Outputs, Customers | My Chart Guide. [online] My Chart Guide
Dhingra, A.K., Kumar, S. and Singh, B., 2019. Cost reduction and quality improvement through Lean-Kaizen concept using value stream map in Indian manufacturing firms. International Journal of System Assurance Engineering and Management, 10(4), pp.792-800.
LSV Group A/S (2016). Introduction to Lean Six Sigma in 3 Minutes. YouTube
Negara, Y.D.P. and Doni, A.F., 2020, October. Business Process Improvement Using Business Process Modelling Notation (BPMN) at Fika Crispy Mushroom. In 3rd International Conference on Social Sciences (ICSS 2020) (pp. 777-782). Atlantis Press.
Salah, S. and Rahim, A., 2018. An Integrated Company-Wide Management System: Combining Lean Six Sigma with Process Improvement. Springer.
Tekin, M., Arslandere, M., Etlioğlu, M. and Tekin, E. (2018). An Application of Kaizen in a Large-Scale Business. Proceedings of the International Symposium for Production Research 2018, [online] pp.515–529
Uni Assignments For MIT students 