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¶ … organization used to manage its new initiatives -- especially new product developments.
In the management of new product developments, the organization has to evaluate and understand various factors in relation to the external development. These factors include laws, regulations, economy, and stage of economic development, substitutes, cultural values, and market needs. The organization adopts and integrates the concept of product life cycle (PLC) focusing on incorporation of various stages from introduction to the end of the product. PLC tool is critical in enhancing the ability of the organization to manage the stages of the product's acceptance and success in the market place. The PLC tool focuses on integration of four critical stages: introduction, growth, maturity, and decline.
Discuss how your organization evaluates projects within its overall portfolio. Discuss the tools and methods it uses to evaluate its portfolio, both quantitative and non-quantitative. Discuss the strengths and weaknesses of each approach.
There are two critical approaches, which an organization utilizes to address the management of overall portfolios. These approaches...
52). Portfolio reviews dominate approach has various pros and cons. Some of the cons include easier prioritizing in case of all projects evaluation. This is critical because most managers like the notion of regular prioritizing since no project is sacred within the organization. The main shortcoming of the approach is the tendency of the major requirement for commitment from the senior management thus taking several days in relation to evaluation and management of the portfolio. On the other hand, Gates dominate is essential in offering much more in-depth assessment in evaluation of the project during a single meeting.
Discuss the different categories of risk, which your organization assesses in its risk assessment of new initiative or new product developments. What are the strengths and weaknesses of the approach your organization uses?
There are various categories of risks within an organization thus the need to integrate and implement an effective and efficient approach towards identification and management of the risks. These categories include market risks, supply…
References
Nippa, M, Pidun, U, & Rubner, H 2011, 'Corporate Portfolio Management: Appraising Four Decades of Academic Research', Academy Of Management Perspectives, 25, 4, pp. 50-66
Kaplan, R, & Mikes, A 2012, 'Managing Risks: A New Framework', Harvard Business Review, 90, 6, pp. 48-60
Szabo, A 2012, 'Risk Management: An Integrated Approach to Risk Management and Assessment', Annals of the University Of Oradea, Economic Science Series, 21, 2, pp. 776-781
Organizational Change in the Public Sector This research proposal explores the feasibility of management in the public Sector as an organizational paradigm and new model in organizational development. The literature review reviews numerous journal articles that explore on the key concepts of change management strategies from a public sector project management perspective. The authors suggest that employee's participation, effective feedback across the board, and empowerment of subordinate staffs is a major
Organization Behavior Strategic Management of Human Resources Human resource is considered as the most precious asset for business organizations. The financial performance and growth in the industry heavily depends upon the way an organization's employees perform at the workplace (Edwards 2003). A dedicated and committed workforce contributes towards a high level of operational excellence and market competitiveness. Therefore, it should be among the top priorities for an organization to manage its human
New Media What are the key challenges faced by public relations practitioners today in relation to the use of new media? Social media has transformed the way in which companies conduct businesses and market themselves. Traditional media strategies such as news releases and media kits have become outmoded, falling out of favor and replaced by strategies such as Facebook, Twitter, and blogs (Waters, Tindall and Morton 2010). This paper begins with an
Organizational Development: Driving Change In the 1960's, Organizational development (OD) emerged as a field identifiable with survey research, action research, T-groups, open system theory, humanistic psychology, building team and channeling process consultation. The methods and ideas have thus broadened and enriched its range and approach. Since the 80's, these methods and ideas have converged in a form of OD which begs to vary from the OD of the 60's in both
Organizational Change Change anywhere is never easy, in fact most people in an organization usually have a difficult adjustment when it comes to that. However, it is a process that cannot be avoided, it must happen. An organization may have no other choice but to change. When this occurs, it is important to make sure that the employees are all on the same page and that this change is good and
According to the authors, this can be done if employees are given a sense of importance in the organizations. Knowledge workers are already short in supplies and most competing rivals also compete to get the best human resource in terms of knowledge workers. It is therefore essential for any organization to retain this highly skilled part of their workforce and in order to do that organizations must eliminate the