Discuss what the major ranges of decisions to be taken:
Decision-making is a crucial part of good business. In classic badges company, decision making should increasingly happen at all levels of management. The owner may make the grand strategic decisions about investment and direction of future growth, and managers may make the more tactical decisions about how their own department may contribute most effectively to the overall enterprise objectives. But quite ordinary employees are increasingly expected to make decisions about the conduct of their own tasks, responses to customers and improvements to business practice.
Following are the decisions that need to be taken when starting a new enterprise:
These are standard decisions which always follow the same routine. As such, they can be written down into a series of fixed steps which anyone can follow. They could even be written as computer program
These are non-standard and non-routine. Each decision is not quite the same as any previous decision.
These affect the long-term direction of the business e.g. whether to expand the business in different countries
These are medium-term decisions about how to implement strategy e.g. what kind of Marketing to have, or how many extra staff to recruit.
These are short-term decisions (also called administrative decisions) about how to implement the tactics e.g. which method is use to make deliveries. (Bowett, 2013)
Identify and examine the kind of information and knowledge needed to ensure that effective decisions are taken:
Information is the vital component for the decision making. In fact the success or failure of decision rests on the information on hand. Situation in which a manager have full information regarding the problem is available is called certainty e.g. what will be the demand of badges if prices are increased by 5%? and where the range of information is neither perfect and neither imperfect it is called risky decision making e.g. what will be the sales revenue of company if prices are increased by 5% per unit? while the situation where the decision maker have no information regarding the problem on hand is called uncertainty e.g. what will be the growth rate of company in 5 years?
Following are the different kinds of information and knowledge that needed to make effective decisions for Classic Badges Company.
What are the major objectives of company?
Who are its major customers?
Who are its potential customers?
Who are its potential competitors?
Which advertisement and marketing procedure should be used?
Which distribution method should be used? (Rutherfort, 2007)
List and assess internal and external sources of information required and justify their suitability and reliability for this project:
There are two different sources of information:
Internal sources of information
External sources of information
Internal sources of information:
All organizations generate a substantial amount of information relating to their operation. This internal information is vital to the successful management of the organization. The Classic Badges Company can attain information from a number of sources within the organization, for example:
Marketing and sales information on performance, revenues, markets shares, distribution channels, etc.
Production and operational information on assets, quality, standards, etc.
Financial information on profits, costs, margins, cash flows and investments, etc.
Internal documentation such as order forms, invoices, credit notes, procedural manuals.
External sources of information:
An external source of information is concerned with what is happening beyond the boundaries of the organization. This covers any documentation relating to a subject area produced as a summary or detailed report by an agency external to an organization. Such information may be obtainable from government agencies or private information providers. Examples might include:
Computer users’ yearbook
National opinion polls
Financial services agencies such
Industry standards as Dunn and Bradstreet
Suitability and reliability:
The external sources of information provide most valuable information regarding the organization environmental factors. The environmental factor consists of economic factors, demographic factors, technological factors, political-legal factor, and socio-cultural factors. This information is of very importance for the business organization because the organization environment serves as an obstacle between the firm and its target market. Through proper scanning of the environmental factors managers are able to devise his strategies keeping in view the dynamic environment. (Johnstone, 2013)
Recommend any improvements in the use of different kinds or sources information and knowledge for the setting up of this project:
Classic Badges Company should use its gather information and knowledge effectively and efficiently. First of all it is very important that a company has knowledge and information should be up to date. The information that is very crucial like sales, production, customers and competitors should be very accurate and should be reviewed on monthly basis. Company should make period base market researches to monitor its sales, customer demand and opinion of customers about its product.
Contributions expected from the different stakeholders during a specific decision making process:
A stakeholder is any individual or group that is interested in, affected by or is involved in some way with a company anyone who literally has a ‘stake’ in any of their activities or issues. Following are the vital stakeholders of Classic Badges Company:
There should be involvement of stakeholders as early as possible in the process of planning and decision making is beneficial to avoid problems later down the line.
Following is given how different stakeholders contribute to affect the process of decision making.
Employees have their jobs and usually their livelihood at stake in the relationship with the firm, they often develop specialized skills that cannot be used in otherindustries i.e. these are specific investments that add value to the working relationship with the firm. Employees have therefore a legitimate interest in the security of their jobs, infair wages and a safe andmeaningful working environment. They expect the corporation to pay attention to their needs and involve them in decision making processes that can affect these issues at stakes e.g. in case ofindustrial reorganizations.
Suppliers provide goods and services to the firm and in turn the firm is a client forthem. Therefore, suppliers have quotes of their income at stake inthe relationships with the firm, which can become a vital aspect particularly whentalking of small suppliers who deal with a large corporation as their main or unique client in this case there are usually specific investments done by the suppliers to improve the quality of goods and services delivered, which generate a stronger dependency on the relationship with their particular client-firm. Suppliers therefore expect the corporation to develop a partnership approach with them, and not be used simply as a source of raw materials or services.
Customers who buy the corporate products originate revenues available for the organization, which in turncan be used by the management to improve the qualityofthe existing goods and develop newproducts and services. So they expect the corporation to deal with them in a service-oriented way.
The local communityprovides to the firm a vital resource the environment where the firm builds its own facilities, and where its own employees, customers and suppliers engage with each other. The local community benefits from the contributionofwealth creation generated by the presence ofthe corporation, and from the amount oftaxes paid to the local government. But there arealso negative impacts to be considered in their decision making process, such as increased pollution, environmental risks, toxic waste and increase of traffic.
Government agencies are those agencies, which provide the necessary institutional and legal framework within which acorporation can operate such as regulatory agencies, market control institutions and international agencies. It is very important to consider government agencies in to decision making process. The firm cannot operate without such framework and thegovernment agencies expect in return that the management acts in a cooperative way with them, ensuring the firm is in compliance with all relevant legal requirements, such as tax payments, lobbying and other sensitive corporate activities. (Freeman & Colle, 2001)
Methods of contact that will enhance business relationship with stakeholders:
Following are the methods of contact that Classic Badges Company can use to enhance business relationship with stakeholders.
Formal and informal meeting
Sporting event meetings
Hallway conversations (B osquote, 1992)
How to involve those identified in the decision making for this project:
Stakeholders can involve in decision making process of Classic Badges Company through stakeholders communication plan. A stakeholders communication plan is a plan through which company communicate with its stakeholders. It is obvious that stakeholders can involve in decision making through communication with stakeholders. This communication can be done by stakeholders’ communication plan. Stakeholders’ communication plan can get by answering these questions.
Who are our stakeholders?
What communication must be communicated to each group?
When they must be communicate
What will be medium of communication?
Wherewill stakeholders receive their communication?
How to enhance our personal networking skill in decision making process of this project:
In decision making process, we can enhance our personal networking skills of this project in 10 ways.
Be prepared for any task.
Do talk to other people and engage our self in conversation.
Earlier research on decisions which will be taken in meetings.
Connect on social media.
Support team and colleagues.
Always remember that it is a two way process.
Always stay in touch with our team members.
Assess our network.
Do not only stick to those people we know.
See opportunities and say yes. (Clare, 2013)
Nestle is a Swiss multinational public company. It is the largest Food and Beverages Company in the world. The mission statement of Nestle is “Good Food, Good Life”. Nestle has 447 factories operates in 194 countries. Nestle products include baby food, bottled water, breakfast cereals, coffee and tea, confectionary, dairy products, ice cream, frozen foods, pet foods and snacks.
Report on existing processes of communication in this organization:
Following is the existing process of communication in Nestle.
Letters and memorandums:
Despite the rise in electronic communications, Nestle Company like their fair share of messages on paper. This may be because no e-mail link is between the parties because a hard copy for audit or legal requirements or because the recipient of paper rather than reading from a screen needs is required.
It is a common form of paper document used by Nestle Company with the difference that the main purpose rather than ordered to receive a response.
Nestle Company use fax as their major communication method. It uses PSTN as a way of providing paper documents from one place to another.
It is become a most popular and important method to deliver messages within an organization as well as outside the organization.
Video conferencing use the telephone lines to video and audio transmission between two or more parties. A special software and high-bandwidth network cabling is necessary because of cameras, microphones, audio playback. So that’s why video conferencing is very rare in Nestle Company.
An intranet uses the same technology as internet, but it only operates within the boundaries of Nestle Company. Intranet is used to deliver text and pictures. This technology is capable of audio, animation, video and real time 3D graphic. (Reddick, 1998)
Pitfalls existing in the current communication processes and design ways to improve it:
Following are the six pitfalls in current communication process of Nestle Company.
Trying to cover up bad news.
Clouding the real messages with a series of add-ons.
For effective communication in Nestle it is vital to recruit, train and develop suitable people across the organization. The communication within and outside the company will have impact only when the receiver pursue exactly what the sender means. This depends a lot on the people inside the organization. If a group inside Nestle are talented and have mature personality they will interpret the message by using their professional skills acquired through various training and development programs. If the case is opposite, the organization will be facing difficulties in every week of life. Communication skills of employees will also add goodwill to Nestle Company. (Martinuzzi, 2014)
A personal plan to improve own communication skills:
It is very important to have good communication skills. It helps to set our goals and course of action that we need to attain such goals. Here is a plan to improve our own communication skills.
Be more effective in dealing with managers, supervisors, customers, teammates and subordinates.
Realize our desires on our own terms.
Enhance our performance and feel better about own self.
Handle problems more efficaciously
Communicate more clearly; there should not be any jargon. (Godnout, 2010)
Report on existing approaches to the collection, formatting, storage and dissemination of information and knowledge in Nestle:
In Nestle Company, there are several methods of collecting and formatting information and knowledge. The methods of collecting and formatting information are observation, experiment, survey, subjective estimation, transaction processing, publications and government agencies.
The methods of storing information and knowledge are Tape, Optical disks, CD’s, Hard disks, Floppy disks and USB.
For dissemination of data Nestle uses file sharing platforms, which allow these files to be accessed from anywhere like PC, mobile phones, tablets and laptops. (Nestle)
Improvement in collection, formatting, storage and dissemination of information and knowledge:
In order to collect unbiased information, the organization should eliminate the personal preferences in data collection and therefore, it is essential to draft a policy for data collection. While this process would outline the data requirements and unbiased methods to collect such data.
Nestle should introduce a format to standardize the data collection process which should be kept in mind to conduct the formatting to keep information short and precise as storing data is a limited facility for the organization.
For storing and dissemination of data and information, Nestle can use various file sharing systems that are called document clouds available online. Dropbox and Google docs are two major examples of file sharing systems. (Class Notes)
Strategy to improve access to systems of information and knowledge in Nestle:
As the information and knowledge will be stored in online file sharing cloud, the access can be gained through anywhere through Internet. However, since there can be confidential data, it is essential to control access and to do this, the organization can introduce a password system to each folder which is already available in files sharing cloud. These passwords should be shared among the users who require access to specific folders and thereby providing required access while avoiding unauthorized access of information. Further, to make it easy for the users to understand the structure of file sharing cloud, an index should be created indicating the files stored in each folders and parties that have access to each folder. These processes would ensure that the access for data would be provided to right user at right time. (Ottawa, 2013)