Seven of the Hurdles That Need to Be Examined, in a Management Sense, Are

In: Other Topics

Submitted By studyingb
Words 696
Pages 3
Seven of the hurdles that need to be examined, in a management sense, are:
1. Cost overruns How much will they actually be and who will pay for them? Past experience says there will be cost overruns; moreover, many of those extra costs are often hidden from the public by being shifted to other budgets. Infrastructure costs are but one example of this. It is important that a tight rein on costs be initiated from the outset and that oversight be put in place. Scrutiny of estimates and the awarding of contracts by outsiders are essential. Another aspect of the issues in this area is determining how to ensure transparency.
2. The future use of sporting venues Using these venues once the games end can pose many problems; for example, some are so large that they will have to be reduced in size if they are to be profitable. Others are specific to sports that may attract little attention. There is a history of Olympic ‘white elephants’ that stand empty for years. Can someone find a way to move these elephants toward social benefit or commercial profit? 3. Transformation of Olympic housing to public housing Questions abound. What planning needs to be done to ensure that the housing constructed for the athletes actually will be used as mixed or affordable housing after the events? Will the housing for the athletes who participate in the Paralympics be set aside as housing for the elderly and disabled? What will be done with the massive cafeterias set up to feed those involved in the Games? Can they become restaurants? Can hotels be devised from some of the housing near or attached to the cafeterias? 4. Security issues The need to secure a huge influx of people, both the participants in the games and spectators, in a world that has seen so many terrorist attacks can lead to actions that go beyond the usual powers allotted to the police and other security personnel. In…...

Similar Documents

The Need for Strategic Management

...The Need for Strategic Management The primary components of a strategic management process vary according to the organization; however, the need to develop effectively a strategic process is a core responsibility of any successful organization. A strategy is a plan that an organization develops to accomplish its long-term goals and objectives. The four phases of strategic management are phases that a manager must experience to address the needs of a changing environment. The phases consist; of basic financial planning, forecast-based planning, externally oriented planning, and strategic management. As defined by (Wheelen & Hunger, 2010), strategic management is a set of managerial decisions and actions that sets the tone and focus of the long term performance for an organization. Goals and objectives identify what the company plan to achieve and provide. Goals and objectives are vital to an organization to ensure that the business is consistently growing and meeting the expectations of stakeholders. Stakeholders are concerned with the profitability of the organization and the security of his or her investments (Wheelen & Hunger, 2010). The benefits of strategic management aids to provide are a clear vision for the firm, a specific focus on what is strategically needed, and an improved sense of understanding when evaluating the environment and the changes occurring. Meaning, a corporation that has a strategic plan has the competitive advantage over other......

Words: 533 - Pages: 3


...THE SENSES Hilgard morgan and Sartain explain that there are more than eight senses that we use to explore and learn about the world.Each of these senses has a specific sense organ within which are receptor cells or receiving mechanisms that are sensitive to certain stimuli in the environment. The Eye Is the organ of vision, is sometimes compared to a camera lens because it works roughly the same way as the latter which focuses images of objects at various distances o the film as it moves toward or away from the place of the film. The lens of the eye focuses light images on a sensitive surface.This surface in the eye is the retina,which is composed of rods and cones. Rods which are cylindrical and number about 100 million,do not distinguish colors but are more sensitive to light than are the cones. Cones which are conical in shape and more than six million in number,allow us to see the different wave lengths of light as different hues or colors. Hilgard presents the process of seeing,light enters the eye through the cornea,a tough transparent membrane.The amount of light entering the eye is regulated by the diameter of the pupil,a small hole in front of the eye formed by the iris.The iris consists of a ring of muscles that can contract or expand,thereby controlling pupil size. The Ear Is the sense organ of hearing which is sensitive to sound waves,the mechanical vibrations in the air. There are three parts of the ear:The outer......

Words: 955 - Pages: 4

Purpose of Management Education: Need for New Directions

...Purpose of Management Education: Need for new directions Abstract Author Prof (Dr) S.M.Harikrishnan, Associate Professor, Chinmaya Institute of Technology, Kannur. In the present competitive business environment, organisations face complex challenges every day, and more often than not those challenges centre on execution limitations of key personnel. These necessitate us to look back and answer the fundamental question: What is the purpose of Management Education? In India, business schools are growing at a high pace witnessing an exponential growth. Even today, Management education is the most ‘sought after’ course among students. Huge investments are happening, mostly from private sector. Apart from traditional programs – Finance, HR, Marketing, Operations, specialisations are offered in new functional areas like Information Technology, International Business, Supply Chain Management, Retail Management, Aircraft Management, Air Port Management Food Management, Textile Management etc. However, the quality of education has deteriorated in a huge way – both with Institutes and student graduates. Even though these institutes offer modern specialised courses, only few provide 100 % placements. The real issues lies with the quality of the Institutes, Corporate Governance of the Institute, Quality of Students and to a big extend the rules and regulations of Government / Authorities. This paper explores the present situation of management education in India and tries to......

Words: 296 - Pages: 2

If You Need Help Writing Your Essay on Management

...Help Writing Your Essay on Management You’re really talking about a test of your academic writing endurance and reading endurance here. Management, accounting, and mathematics are the trifecta of yawn worthy subjects to do an essay on, but someone has to write them eventually. If you’re reading this, you’re that person. The only starting suggestions that can be offered are stick to facts and start early on this. You have a long, long, road ahead for this essay. Normally writing an essay is as boring or painful as you make it, but you’ve found the exception to the rule here. Let’s get to those management topics. Starting Topics for Your Essay There are several types of management essays you can do: an operations management essay, project management essay, a business management essay, and so on. Management Essay Topics: The nature of managerial work Basic functions and roles Marketing in the public and private sectors (can be separate topics) Management skills Implementation of policies and strategies within a business policy Policies and strategies in the planning process Middle-level management Upper management First / lower management Organizational structure of a business Other essays you could focus on are a human resources management essay and supply chain management essay. This doesn’t have to be kept to a business nature, though. You’re also open to a stress management essay and a time management essay. Overall there isn’t much there as far......

Words: 489 - Pages: 2


...Running head: PURPOSE OF CHANGE AND ITS HURDLES The Purpose of Change and its Hurdles to Mitigate Mary Jones PURPOSE OF CHANGE AND ITS HURDLES Abstract This paper explains the purpose of change within an organization and three major hurdles to the change process, which as a supervisor will need to be mitigated. Change is unavoidable and foreseeable within the work force. Even though the change is to be anticipated there is still a lot of resistance to the change process. The resistance to the change process is also to be expected from your employees. As a supervisor you will have to deal with the resistance, and have direct influence on how well the change is implemented. PURPOSE OF CHANGE AND ITS HURDLES The Purpose of Change and its Hurdles to Mitigate Change can be defined as; “make or become different, take or use another instead of, the act or instance of making or becoming different”. Change can occur gradually or suddenly. Change within an organization can be a challenging process for both the employee and supervisor; it can end up being either something good, or something bad. As a supervisor it is your duty to imply change within your organization whether if it was passed down from upper management or initiated at your level. There are many hurdles that as a supervisor you will endure and have to alleviate within your employees or organization. Three major hurdles to change are; fear of the unknown, threat to power, and threats to......

Words: 1282 - Pages: 6

The Need for Project Management

...Unit 1 Assignment 1: The Need for Project Management In Recent years why is project management Important? Project management is important because business professionals have been arriving on the scene with unique skills to start, coordinate, and complete organizations small and large projects. In the past these projects were usually given to a supervisors or managers regardless of his or her skill set. Now these highly trained professionals are arriving in the market ready to handle and maintain large scale projects. What is the primary challenge of Implementing PM in an Organization? The project team can be the primary challenge of implementing PM in an organization. Team members come from different backgrounds and cultures. Budgets, schedules and resources are also major challenges affecting a PM in a modern organization. Discuss a successful and Unsuccessful project. How were they alike, different? This is example of a successful project at Booz Allen Hamilton San Diego. A temporally employee with two weeks on the job was approached by a project manager with a $60 million contract proposal. From the time the PM notified the temp printer to the time the project was in the printers hands four hours had passed. The printer worked on the job from 5pm to 1:30am that night. At 1:30am the printers stopped working. The temp had to pack everything up and go to the local FedEx Office to complete the job. In the end the temp delivered the job on-time at 6am, Booz Allen won the......

Words: 347 - Pages: 2

Need for Sales Audit for Effective Sales Performance Management

...people must see themselves as Intraprenuers. * Organizational culture and processes must be empowering such an environment The Sales Management Challenges Being able to implement the organization’s best competitive strategies * How to make the sale people see through it? * How to ensure its implementation in letter and spirit? * How to control its execution and be able to provide constructive feedback. * How to make tactical corrections succeed in its implementation Too many lost opportunities * Is the closing ratios not as per your desired levels? * Are the opportunities to upsell and cross sell not adequately used? * How effective is the sales man in his ability to qualify a prospect? Competent Sales Team * How capable are my front line managers to gain customers confidence and win trust * * Are they having the right skills sets required to succeed? * Is there any limiting habits or methods that must be addressed to enhance capabilities * Is our process to hire a sales man fully complied by my supervisors Sales Pipeline Management * How good is our call to conversion rate? * How is the sales funnel being tracked? * Where are the major leaks happening? * What is the plan for new prospects generation? * What is our lead generation and management plan? Effective Supervision * Are we having the right set of supervisor in terms of ......

Words: 1244 - Pages: 5

Seven Eleven

...Sunil Chopra TEACHING NOTE: SEVEN-ELEVEN JAPAN CO. The goal of this case is to illustrate how a firm can be successful by structuring its supply chain to support its supply chain strategy. Once Seven-Eleven Japan decided to provide responsiveness by rapid replenishment, it then structured its facilities, inventory, information, and distribution to support this choice. The case also brings up the question of whether the same approach can work in the United States, especially given the greater distances and lower store density. Questions 1. A CONVENIENCE STORE CHAIN ATTEMPTS TO BE RESPONSIVE AND PROVIDE CUSTOMERS WHAT THEY NEED, WHEN THEY NEED IT, WHERE THEY NEED IT. WHAT ARE SOME DIFFERENT WAYS THAT A CONVENIENCE STORE SUPPLY CHAIN CAN BE RESPONSIVE? WHAT ARE SOME RISKS IN EACH CASE? As responsiveness increases, the convenience store chain is exposed to greater uncertainty. A convenience store chain can improve responsiveness to this uncertainty using one of the following strategies, especially for fresh and fast foods: Local capacity: The convenience store chain can provide local cooking capacity at the stores and assemble foods almost on demand. Inventory would be stored as raw material. This is seen at the U.S. fast food restaurant franchise Subway where dinner and lunch sandwiches are assembled on demand. The main risk with this approach is that capacity is decentralized, leading to poorer utilization. Local inventory: Another approach is...

Words: 1251 - Pages: 6

Sense of Purpos

...part of several student activity clubs and developed my interpersonal skills. I took several positions of responsibility for various events and consequently became head of hospitality team for managing accommodation for above 600 participants. Being a part of student placement committee member I realized the sense of responsibility and importance of faith that people invested. Hence I put my best efforts for which I was regarded as the trend setting member. Keeping myself involved in all the above activities I equally managed my studies and passed B tech with a distinction. I recognized this versatility as my strength and always try enhancing it. I also involved myself in social activities for helping under privileged children. I realized that there is serious need of attention and necessity of our active involvement in developing them socially and wish to play my part in it. After undergraduate I joined coromandel international limited, as trainee maintenance engineer. I was a part of diverse team, which included technicians, managers and departmental head as the members. I realized that each individual needs to be handled in a certain way I developed my people management skill by connecting with every member and thinking from their perspective. I used my technical learning and successfully coordinated the team for reducing dust emission in plant thus improving work environment and achieving considerable monetary saving. After successfully completing two live projects I was......

Words: 902 - Pages: 4

Hurdle Rates

...return From Wikipedia, the free encyclopedia In business and engineering, the minimum acceptable rate of return, often abbreviated MARR, or hurdle rate is the minimum rate of return on a project a manager or company is willing to accept before starting a project, given its risk and the opportunity cost of forgoing other projects.[1]. A synonym seen in many contexts is minimum attractive rate of return. For example, suppose a manager knows that investing in a conservative project, such as a bond investment or another project with no risk, yields a known rate of return. When analyzing a new project, the manager may use the conservative project's rate of return as the MARR. The manager will only implement the new project if its anticipated return exceeds the MARR by at least the risk premium of the new project. The hurdle rate is usually determined by evaluating existing opportunities in operations expansion, rate of return for investments, and other factors deemed relevant by management. A risk premium can also be attached to the hurdle rate if management feels that specific opportunities inherently contain more risk than others that could be pursued with the same resources. A common method for evaluating a hurdle rate is to apply the discounted cash flow method to the project, which is used in net present value models. The hurdle rate determines how rapidly the value of the dollar decreases out in time, which, parenthetically, is a significant factor in......

Words: 791 - Pages: 4

The Seven Management Tools

...The Seven Management and Planning Tools To illustrate the Seven Management and Planning Tools, we present hypothetical hightechnology consumer electronics company, MicroTech. MicroTech’s mission is to design and manufacture miniature electronics products utilizing radio frequency technologies, digital signal processing technologies, and state-of-theart surface mount manufacturing techniques. Affinity Diagrams The affinity diagram is a tool for organizing a large number of ideas, opinions, and facts relating to a broad problem or subject area. In developing a vision statement, for example, senior management might conduct a brainstorming session to develop a list of ideas to incorporate into the vision. This list might include low product maintenance satisfied employees courteous order entry low price quick delivery growth in shareholder value teamwork responsive technical support personal employee growth low production costs innovative product features high return on investment constant technology innovation high quality motivated employees unique products small, lightweight designs Once a large number of ideas have been generated, they can be grouped according to their “affinity” or relationship to each other. An affinity diagram for the preceding list is shown in Figure 1. Figure 1 Affinity Diagram for MicroTech Interrelationship Digraph An interrelationship digraph identifies and explores causal relationships among related concepts or ideas. It shows that every......

Words: 1174 - Pages: 5

Knowledge Management: Why Do We Need It for Corporates

...Malaysian Journal of Library & Information Science, Vol. 10, no.2, Dec 2005: 37-50 KNOWLEDGE MANAGEMENT: WHY DO WE NEED IT FOR CORPORATES Bhojaraju G. Librarian-Knowledge Management ICICI OneSource, Bangalore - 560011. India. e-mail: ABSTRACT This article gives a brief introduction about Knowledge Management (KM), its need, definition, components, KM assets, challenges and processes of KM initiative at any organisation. It also provides a narration on how the KM initiative has been adopted at ICICI OneSource, to support the achievement of its Business Process Outsourcing objectives. Both knowledge sharing as well as reuse need to be encouraged and recognized at the individual employee level as well as the company level. This is best done by measuring and rewarding knowledgeperformance. Sustained strategic commitment and a corporate culture that is conducive to knowledge-performance are vital for success in Knowledge Management. The paper concludes with suggestions for the implication for policy and future practices. Keywords: Knowledge management; KM Cyberary; Ontologies; Industrial Credit and Investment Corporation of India Ltd (ICICI) INTRODUCTION Knowledge Management (KM) is the process of gathering, managing and sharing employees' knowledge capital throughout the organisation. Knowledge sharing throughout the organisation enhances existing organisational business processes, introduces more efficient and effective business processes...

Words: 4046 - Pages: 17

What Kind of Management Control Do You Need?

...What Kind of Management Control Do You Need? 05/04/16 18:48 CORPORATE GOVERNANCE What Kind of Management Control Do You Need? by Richard F. Vancil FROM THE MARCH 1973 ISSUE A good method of measuring a manager’s financial contribution to a company must meet two criteria. It must seem fair to the manager, and it must reward him for working for the benefit of the whole company, not just his department or division. Although simple in theory, these criteria become difficult to meet in practice. The characteristics of the business may lead managers to work at cross-purposes; moreover, the strategy of a business should have a profound effect on the kinds of decisions made. In this article the requirements of designing effective management control systems are examined in both simple and complex organizations. Pointing to realities with which businessmen are familiar, the author seeks to guide executives in weighing the advantages and disadvantages of functional forms of organization, product division forms, and the socalled matrix concept of organization. He points out that profit centers are by no means a universal answer, however appealing they may be in principle to business leaders. P rofit centers are a major tool for management control in large industrial corporations. They possess important advantages: Page 1 of 26 What Kind of Management Control Do You......

Words: 7935 - Pages: 32

Occupancy Management at Seven Seas

...Seven Seas Cruise Vacations Inc. Occupancy Management1 Pamela Homesworth, Director of Operations – Yield Management for Seven Seas Vacations looked across her desk and let out a sigh. She looked exhausted and not a little bit frustrated as she removed her glasses and started to speak. “It’s Tuesday, the worst management day of my week” she said. “Today is the day I have to decide what to do with our remaining occupancy for a week Saturday to ensure we sail with a full complement of passengers. When I first came into this business, you made your profit from the last twenty percent of travelers, now you try not to lose your shirt to keep the ship at capacity for each sailing. I blame the internet!” Seven Seas Cruise Vacations Pamela Homesworth, then a 31 year old businesswoman, had joined Seven Seas Cruise Lines Inc. directly from an MBA focused on electronic marketing and operations. She began work six years earlier as the internet came to be a strategic force for consumer businesses, starting in 1998. Pamela worked her way into increasingly important roles with the firm and with the start of the fall cruise season had taken over an experiment that Seven Seas was testing on integrated vacation planning and direct sales under the selling brand Seven Seas Cruise Vacation. Using one of their midsize ships, Seven Seas was sailing a dedicated week long circuit from Miami through the western Caribbean and back along the coast of Mexico while testing several new......

Words: 3145 - Pages: 13

Corporate Investment Decision Practices and the Hurdle Rate Premium Puzzle

...Corporate Investment Decision Practices And the Hurdle Rate Premium Puzzle Iwan Meier and Vefa Tarhan1 February 27, 2006 Abstract We survey a cross-section of 127 companies to shed light on various dimensions of the investment decisions. The questions posed by our survey examine the hurdle rates firms use, calculations of project related cashflows, the interaction of cashflows and hurdle rates, and the determinants of firms’ capital structure policies. Unlike previous studies which examine investment decisions by either using survey data or data obtained from financial tapes, we use both sets of data. This approach produced one of our primary findings that there is a hurdle rate premium puzzle, in that hurdle rates used by our sample of firms exceed their cost of capital that we calculate using Compustat data by 5%. We investigate the determinants of the hurdle premium in question. Additionally, we find that both systematic and to a lesser extent unsystematic risk play a role in determining the hurdle rates. Furthermore, our findings show that while firms use discounted cashflow methods in evaluating projects, they do not always appear to handle the cashflow dimension of their investment decisions in a consistent manner. Finally, we uncover evidence that firms use the various financing alternatives available to them in the order predicted by the pecking-order hypothesis. However, some of the variables affiliated with the trade-off model also appear to play a role in...

Words: 22210 - Pages: 89

TT-Fansub | The Last Hope | Everybody Has Secrets (Movie)