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Discuss about the Business Case Related to Developed Virtual Clothing Machine.

Jung, Chung and Leue (2015) stated that currently, most of the cheap clothing machine are subjected to inexpensiveness and cannot last for several decades has they are subject to wear and tire. Also, some of the clothing machines may fit the needs of textile manufacturing or textile industry despite of the extremely negative reviews from other companies in the same industry (Trigeorgis & Reuer, 2017). Negative reviews from various textile companies’ demonstrations that innumerable errors, inappropriate techniques and strategies in associated with sewing machines are due to technology inappropriateness. Hence, the technology should be up to date to reduce errors in measurement taking, intensify the appropriateness of the strategies and techniques. Benefits of addressing the problem include acceptance of the problem and find ways to address the problem, and increasing the reliability of developing up to date technology to solve the challenge in the textile industry (Flemes, 2016).

The problem to be solved is the outdated technology used in the manufacturing of clothing machine which has led to maximum errors and poor techniques in the textile industry or the influence of the new technology in the clothing or fashion industry (Drover et al., 2017). In the other hand, technology can be improved to meet the industry expected results or outcomes within a specified period of time. To define the problem related with deployment of the new technology in the clothing industry some basic aspects like fiber and textile production have to be scrutinized.

The new or updated technology used to manufacture the clothing machine like virtual (VCM) is a high-tech technology. Because clothes production can be based on the cost of the systems and productivity of the firm. New technology application has generate a profound social impression that did not affected workers only but also location of workers in the clothing production in the industry.

The demand forecast assumption to provide the evidence of cause and effected will be examined using the four main steps of the demand forecast (Oneal & Russett, 2015). The steps include defining market to be served by the clothing machine being innovated, dividing total industry demands into various section, forecasting the drivers of the demand in each section and how they are likely to be tackled, and carrying out of the sensitivity examination of the marketing demand based on the forecast assumption.

Definition of the Problem

The problem should be solved by the government because through government intervention the cost of manufacturing modern updated clothing machine like VCM will be subsidizes by the government (Gunasekaran, Subramanian & Papadopoulos, 2017). Some of the implication that can delay the response of the defined problem by the government include physical limits to be reached and time lead operational investment.

  • Consideration of the Broader Context

Various opportunities exist both internally and externally in the H and M cloths store. The need to address this opportunities is to provide a wide area of solving the problem being faced by the company. Benefits of wider sectorial attitude and piloting of the study in the textile industry to impact updated technology of developing modern clothing machine such as virtual clothing machine.

The influence on the current research on the key benefits of solving the problem indicates that by unravelling the problem the economic sustainability with be factor to be accomplished. It means that the VCM developed will increase the capacity of organization products in the market, hence, stakeholders and worker will be sustained by H and M store (Bartlett & Beamish, 2018). The social and environmental benefits when the problem will be solved include a better living standard to the community around the company.

The investment will be the source of government revenue because when the H and M deployed the updated virtual machine it will be able to increase its sales in the textile industry. On the other hand, H and M will benefits from the investments because more sales will be made since customers will like the brands of cloths being produced by the firm. Hence, facilitation of more revenue or profit to H and M (Hill, Jones & Schilling, 2014).

Benefits measures and key performance indicators that will show the deliverance of the benefits include marketing metrics measures and KPIs, sales metrics and KPIs, digital marketing KPIs and metrics and financial KPIs and metrics measures (Bartlett & Beamish, 2018). The key performance indicators helps to evaluates the company objectives of the pertaining the development and selection of the interventions option based on the new investment.

Independences is termed has the condition where two or more company depend upon one another. The critical interdependences aspects like to the company deliver of benefits include dependence on other similar investment and decision as well as managers workers relationship. For instance the relationship between the H and M managers and workers will be significant in delivering of the investment benefits. Independencies commonly needs a high level of flexibility to be built for the investment to be successful. To attain flexibility of interdependencies the three types of independences in the organization must be considered. Three types include pooled independence, sequential and reciprocal interdependence based on the organization structure.

Evidence of the Problem

The methods and criteria of selecting appropriate strategic response that extent to the intervention to attain proposed benefits and value of offered money are; writing of a vision and mission statement for the investment, and examination of performance gaps (Menzel & Hesterman, 2018). Key assumptions inn developing the strategic options include assumption of external business forces from PEST analysis and STEP analysis, assumption of market dynamics, assumption of consumers choices, allocation of money availability assumption, and assumption of expected stakeholders behaviors.

The potential interventions in the investment developed includes loss prevention intervention, financial intervention and consumers’ interventions. The loss prevention intervention will enable the organization to avoid loss that can be prevent by the executives team, while financial intervention and consumers intervention will enable the organization to analysis what it can do to be more innovative.

The process of changing strategic options into strategic option can only be possible when the preliminary business has been provided to analyze the currency information pertaining revalidation of the investment proposal (Jeppesen et al., 2017). To packaged strategic intervention to strategic options some factors such as transformational change, competitive advantages, and uniqueness of the investment proposed must be considered.

Strategic ranking evaluation options has been termed as the process that is complex of not setting the only rules to be followed  but a philosophical approach of the company or business. In evaluation of the strategic options some steps have to be followed (Carbajales-Dale & Zhou, 2018). The steps include clarification of the company vision, collecting and investigating of the data related to the developed idea, formulation of the strategy, implementing of the company plans and, evaluating and controlling of the strategic options.

Strategic options can be described has the creative options or alternatives action responses to the external condition within the firm. The strategic options which are rational for the development of modern virtual clothing machine are price focus of textile industry clothing machines, diversification, adjacent of the organization or company and distinguishing of the company from other companies.

The strategic interventions cooperated in the strategic response identification of the strategies, selection of the objectives to be accomplished in a given period by the organization and, mission and vision statement (Bartlett & Beamish, 2018). The vision and mission statement of the organization mentions what and why the investment proposed is necessary. It describe the organizational initiatives and explain why the initiatives are significant to both stakeholders and consumers. The objective strategic options constitute benchmarking of other organization in the same industry to assess help where necessary (Too & Weaver, 2014). The population objective is an element of the objectives strategic that indicates the demographic changes in the community level and how the changes can influence the organization objectives. On the other hand, accomplishment of the plan strategic options ensure that organizations missions and vision have been attained through all possible means (Brunswicker & Chesbrough, 2018). The base case will be the assessing of baseline markers to indicates the potential market for the proposed business while market based solution of the proposed investment will be based on the demographic changes has the determinant market factor. The methods and rationale used to select project options include standards of the selection options, probability of options being successful, alignment of the options and option values. The project options include the scope, asset option, market based solution, and potential of third party profits.

Timing Considerations

The relative impact of the various project options to key stakeholders can be explained from the view of options relationship to the business project (DeSimone, Harms & DeSimone, 2015). The scope options indicates that no prior stakeholder in an organization setup who can disentangle benefits from the project has their lack a conceptual understanding of the underlying profits comprised in the business size. The team project and functional management stakeholders will be impacted by the project options like potential third party profits and assets options respectively (Schmidt et al., 2017). The third party revenues generation may be affected when team project managers forget to implement measures required to reduce loss in the business while management stakeholders can be affected when the assets will not be managed well by the workers in the business has they will have to buy other assets in order for the organization to be fully operated to meet its goals.

The social impact can be described has the effect a company have on the community well-being. The social impacts and opportunities form the proposed investment project will be building housing for the poor within the community, improvement of the town infrastructure through the provision of transit means and protection of consumers. The social issues that is relevant to market based solution is the consumers’ protections.

Environmental impacts has been explained has the possible and adverse effects caused by business project established in an area. The impact may be release of harmful substance in the environment or destruction of the environment. Legal requirement to meet the impact is the treatment of harmful substances or gases before being discharged in the oceans and atmosphere respectively. The community concerns is how the company will protect the environment.

The significant economic impacts and opportunities options include the business productivity, personal income such as the wages and salaries, jobs and wealth including the property values. The possible changes that can influence the economic and opportunities options including the increasing of wealth by the business, or increase the number of workers that will result to demand of more wages and salaries to pay the workers.

The cost benefits analysis or CBA tries to measure the positive or negative consequences of the proposed project including the externally impacts to the projects, option values, effects on the projects on the participants and effects on non-participants. In addition, the cost and benefits can be breakdown to cater for the total economic value. The financial cost of the project tend to be the most methodically to represent the cost-benefit examination due to availability of relevant market.

Benefits to be Delivered

Normally, provides the capital and output cost of the proposed project. It also describes the process in which the estimation was derived include the determination of the previous project. The financial analysis allow decision makers to consider the option that bring the best outcomes to the organization in line with the government goals.

The comparison of risk provides a key summary of the risk which are the critical to segregate success of the project being invested on. To segregate the risk comparison the project team stakeholders have consider the following risks include law and regulatory technological.

As observed by Moutinho and Vargas-Sanchez (2018) is that extent of the cost, benefits and risk quantified are being related to the project for the analyzing of the information extracted from the project plan.

According to Bartlett and Beamish (2018) is that recommended solution regarding the proposed business project have been added in this section to help the project managers to have a clear of objectives of the investment. Also the solution recommended should be on the mind of other potential stakeholder for the determination of the project goals as well.

The commercial and financial analysis of the project is being launched to ensure that a robust business plan develop meets the finance needs of the business. It comprise of procurement, risk assessment and management, economic evaluation and financial resources.

Procurement is the process of finding agreement terms and acquiring goods, services or work from external source regularly via a tendering or competitive bidding process.

The project valuation and management for the determination of the qualitative or quantitative estimation of the risk linked to a well-defined conditions and a recognized threats.

Costing and economic evaluation of the project is the systematic identification of the measures of valuation of the inputs and outcomes of the alternatives action of the business and the subsequent analysis of the project as well.

The money available for the project spending in the form of cash, cheques, liquid securities, debit and credit line are all referred has the financial resources of the business proposed.

The management governance is the mechanism set in the proposed business investment project has a process and relation by which the organization will be controlled and directed.

The proposed plan has measures of how stakeholders will be engaged at different phases of the project whereas, the communication plan stipulated will be an effective platform of passing the information to the workers and stakeholders.

Importance of the Benefits of Government

Project management is the practice of planning, initiating, and regulatory and shutting down of the work has a team for the attainment of the project goals towards its improvements.

In the investment process the change management is need has a tool of managing workers and stakeholder from a current state to another state of the project. It is process that can be followed using a set of tools and competency has it enhance, change and generate the capacity to the effectiveness of the project.

Milestones are the tools used to in the project management to dent specific or particular points along the proposed project timeline. The points can be budget checks and external reviews of the outputs.

The project measures has been described as the process of collecting, examining, and reporting data concerning the performance of the individual workers and the project managers (Brazier at al., 2017).

The ability to execute the project proposed that can be taken care of by the stakeholders in the investment project. In this phase of the project implementation next step are used to avoid use of inadequate tools and lack of documentation of the project.

Project sign-off sheet constitutes of the critical project detail including a project name, project manager name, project duration, project sponsor and the internal department affected as well as the consumers affected (Lasserre, 2017).

According to Tripathy et al. (2017) is that the project exist strategy alignment in the project aid to ensure that the resources are allocated correctly in the business. Hence, the resources of the project will be allocated where appropriate.

 References

Bartlett, C. A., & Beamish, P. W. (2018). Transnational management. Cambridge University        Press.

Brazier, J., Ratcliffe, J., Saloman, J., & Tsuchiya, A. (2017). Measuring and valuing health benefits for economic evaluation. OXFORD university press

 Brunswicker, S., & Chesbrough, H. (2018). The Adoption of Open Innovation in Large Firms: Practices, Measures, and Risks A survey of large firms examines how firms approach open innovation strategically and manage knowledge flows at the project level. Research-Technology Management, 61(1), 35-45.

Carbajales-Dale, M., & Zhou, Z. (2018). Assessing the photovoltaic technology landscape: efficiency and energy return on investment. Energy & Environmental Science.

DeSimone, J. A., Harms, P. D., & DeSimone, A. J. (2015). Best practice recommendations for data screening. Journal of Organizational Behavior, 36(2), 171-181.

Drover, W., Busenitz, L., Matusik, S., Townsend, D., Anglin, A., & Dushnitsky, G. (2017). A review and road map of entrepreneurial equity financing research: venture capital, corporate venture capital, angel investment, crowdfunding, and accelerators. Journal of Management, 43(6), 1820-1853.

Flemes, D. (2016). Brazil: strategic options in the changing world order. In Regional Leadership in the Global System (pp. 105-124). Routledge.

Gunasekaran, A., Subramanian, N., & Papadopoulos, T. (2017). Information technology for competitive advantage within logistics and supply chains: A review. Transportation Research Part E: Logistics and Transportation Review, 99, 14-33.

Hair Jr, J. F., Wolfinbarger, M., Money, A. H., Samouel, P., & Page, M. J. (2015). Essentials of business research methods. Routledge.

Hill, C. W., Jones, G. R., & Schilling, M. A. (2014). Strategic management: theory: an integrated approach. Cengage Learning.

Jeppesen, K. K., Carrington, T., Catasús, B., Johnsen, Å., Reichborn?Kjennerud, K., & Vakkuri, J. (2017). The strategic options of supreme audit institutions: The case of four Nordic countries. Financial Accountability & Management, 33(2), 146-170.

Jung, T., Chung, N., & Leue, M. C. (2015). The determinants of recommendations to use augmented reality technologies: The case of a Korean theme park. Tourism management, 49, 75-86.

Lasserre, P. (2017). Global strategic management. Macmillan International Higher Education.

Menzel, D., & Hesterman, J. (2018). Airport security threats and strategic options for mitigation. Journal of Airport Management, 12(2), 118-131.

Moutinho, L., & Vargas-Sanchez, A. (Eds.). (2018). Strategic Management in Tourism, CABI Tourism Texts. Cabi.

Oneal, J. R., & Russett, B. M. (2015). The Kantian peace: The pacific benefits of democracy, interdependence, and international organizations, 1885–1992. In Bruce M. Russett: Pioneer in the Scientific and Normative Study of War, Peace, and Policy (pp. 74-108). Springer, Cham. Oneal, J. R., & Russett, B. M. (2015).

Schmidt, G. A., Girard, T. D., Kress, J. P., Morris, P. E., Ouellette, D. R., Alhazzani, W., ... & Ferrer, M. (2017). Liberation from mechanical ventilation in critically ill adults: executive summary of an official American College of Chest Physicians/American Thoracic Society clinical practice guideline. Chest, 151(1), 160-165.

Too, E. G., & Weaver, P. (2014). The management of project management: A conceptual framework for project governance. International Journal of Project Management, 32(8), 1382-1394.

Trigeorgis, L., & Reuer, J. J. (2017). Real options theory in strategic management. Strategic Management Journal, 38(1), 42-63.

Tripathy, B. K., Mohanty, R. K., Sooraj, T. R., & Arun, K. R. (2017). Parameter reduction in soft set models and application in decision making. In Handbook of Research on Fuzzy and Rough Set Theory in Organizational Decision Making (pp. 331-354). IGI Global.

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