Business analysis Essay Example | Topics and Well Written Essays - 5000 words

Business analysis - Essay Example Retail is all about selling goods from businesses or individuals to the end user. In this industry retailers are often considered to be a part of the integrated supply chain. Large quantities or products are purchased by retailers from respective manufacturers. These purchasing process are either done through a wholesaler or directly from the producer and are then passed on to the end users in considerable small quantities. There are various mechanisms through which retailing can be done either in the form of fixed stores or markets or by delivery or door to door selling. The retail industry in the present scenario is considered to be the most competitive industry. As the consumer market demand is increasing there are many new players emerging in this segment which is making the competition fierce. It can be stated that customers are at a profitable end in terms of the scenario of retail industry with multiple players operating to deliver best services and goods at competitive prices . In context of global retail industry there are firms performing their operations through online websites, home delivery and even increasing convenience of users by electronic payment. Retailing is usually associated with providing services to a wide base of customers and encompassing wide range of products. This may include clothing to grocery or even any other household items. However the type of products which are included in a retail store are food products such as those which require facilities of a cold storage, durable goods or hard goods such as appliances, automobiles, sporting goods, electronics, furniture, etc., consumables or soft goods such as clothing, footwear, medicines, other fabrics, cosmetics and stationary, and the last type of product is arts. The importance of selecting a particular industry in this study is that it would help to identify the probable challenges which are affecting the industry. On the

Potential Project Scope Management Problems Essay

Potential Project Scope Management Problems - Essay Example This is a situation which happens when new constraints are added on a project that was not present at the beginning of the project, and particularly at the initial planning phases. These may include new entries such as gadgets. Even though in most cases project necessities may alter as a result of justifiable reasons like those linked to technology and adjustments in consumer needs, managers encounter scope creep because they have some unplanned additions added on the initially budgeted roles (Hallows, 2002). With the growth in the scope of a project, more tasks need to be accomplished within the schedule and budget initially designed for a tinier set of tasks. In this sense, scope creep can make a project team to overrun its initial schedule and budget. To solve this problem, analysts should clearly define the process, the related terms, and the process boundaries. In addition, managers should realize that particular aspects of the project can make it too large to manage and thus co nduct a precise check on the interfaces in the project (Schwalble, 2006). Another potential problem in this context is the lack of smooth communication procedures with stakeholders. This occurs when managers tend to please some people, while forgetting to balance stakeholder wishes with the limitations realized within the framework of the up-to-date project. Miscommunication with stakeholders may lead to misinterpretation in terms of design and requirements. Additionally, it ultimately results in a situation whereby the interested parties are not totally satisfied with the accomplished task (Moustafaev, 2010). The best way to avoid this problem from occurring is by encouraging a close working condition between project managers and project shareholders so that everything needed and expected by both parties is realized. Alternatively, stakeholders can suggest alterations or spell out requirements precisely prior to executing the project. Such a move does not only assist in avoiding an other previously experienced problem, but also enhances a good working environment for the team, the project manager, and the stakeholders from the very start (Dubey, 2009). Nothing disrupts the process of project scope like managers poorly defining the project scope. The problem is made when the manager defines the implementation as opposed to the need of the scope. If the need changes with time, he can fail to know the exact requirements and therefore cannot develop a product to achieve a moving goal. If a manager does not clearly define the scope of the project from the beginning, he would â€Å"kill† the project. Such a product will have little or no chance to realize any productive benefits to the company. As soon as the planning phase starts, a manager should ensure that he sports out and describes all tasks that are significant in the productivity of the project. He should also make sure that the entire team has a deep understanding of what is anticipated during the pr oject. Permission for suitable administrative control during the management procedure of the project is also an important consideration. Generally, the project manager ought to keep a close check on the project charter and several other pre-planning files so that a concise but useful scope statement can