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Type | Essay |
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Potential Costs, Risks, And Benefits Of Operationalizing Business Idea
Running head: QUALITY MANAGEMENT 1
QUALITY MANAGEMENT 2
Quality management
Student’s name
University affiliation
Quality management
Quality management is one of the techniques that can be initiated by the Amazon Company to align all of its processes. Quality management arises when the firm recognizes any mistakes and shortages that are associated with the products been provided and effective measures are initialized to counteract the limitations (Cummings, & Worley, 2014). Quality control acts as means for success for the company since it is with the provision of the best items that customers wish to purchase what they need from the firm. The paper outlines the concepts of quality management including the total quality management that is key to the maintenance of high-quality items by the Amazon Company. The paper will also comprise of the work breakdown structure that offers information about the major tasks that should be performed in connection with quality control. Therefore, the business opportunity to be explained in this paper is quality management that requires the firm never to seize offering high-quality goods with the use of statistical quality control.
It is evident and inevitable to incur some costs with the introduction of quality management concepts and perspectives. In other words, it is not possible to come with measures that will be meant to attain quality management and fail to incur some costs. For instance, technology is one of the aspects that are associated with quality management. Technology requires the adoption of information management measures such as the purchase of computers and creation of other systems that are meant to keep track on the continuous provision of effective goods. Therefore, additional funds that will be incurred if the firm needs to improve the activities that are currently in place concerning quality management. The other costs are associated with the training programs that must be adopted and introduced to the workers.
The other costs are associated with the advertisement costs that will be incurred when the firm seeks to offer awareness to the public concerning the goods. Moreover, creating adverts and making them accessible over the internet and social media is costly. Some of the risks that are associated with quality management include lack of adequate skills among the workers since they will be faced with new technologies. The other risk includes the lack of adequate funds that are supposed to cater for the new technologies that will be introduced in the Amazon Company. Also, it is possible that there might be a risk if all the employees do not support the new changes to be adopted resulting in reduced collaboration among all the team members.
However, even with the existence of the risks and costs, some benefits are associated with quality management. For instance, it is known that clients never wish to purchase goods that are of poor quality. In other words, no person ever wishes to purchase an item that is low in its quality. Therefore, with the improvement of quality, there are high chances that Amazon Company will attract a significant number of clients who will gladly want to buy items from the company. Moreover, high sales correspond to high revenue suggesting that the company will manage to earn itself a high proportion of income from all the investments that it will put in place regarding quality control (Cummings, & Worley, 2014). Additionally, there are high chances that Amazon Company will enjoy an improved market share that will transform into advanced relationships between Amazon and its potential customers. Therefore, it is evident that there are high chances that Amazon Company will enjoy additional benefits with the sustainment of quality management.
For quality management to be attained, three tasks are associated with its success. The three tasks are total quality management, business operations, and changes that should be adopted. The three tasks are associated with other three subtasks that result in their success. For the total quality management, there is the issue to do with institute leadership that refers to the situation by which Amazon Company should focus on making sure that it focuses on choosing the best leadership team. In other words, for the Amazon Company to excel, there is no doubt that its management team should be well operational and in the right conditions. It includes ensuring that the leadership team is determined to work in hand with all the other staff members since unity will grant them better results. Additionally, the firm has a responsibility to train its employees since they have to possess all the skills that are necessary for them to conduct the production activities as it is expected of them. Additionally, the company should introduce and support a culture of improving its services and goods from time to time. It is because as technology develops, the company can make sure that it fulfills the desires of its clients by incorporating all of its items with the new technology.
The other task that is associated with quality management is business operations that include the reviewing of the plans that have been implemented by the firm. In other words, it is required that the company should always make sure that it assesses all the plans that have been in connection with quality control to make sure that the plans are appropriate (Cummings, & Worley, 2014). The aim of this activity is to make any necessary changes that are related to any mistakes and shortages that might have occurred with the plans that are already in place. The other task is the determination of hierarchy that considers that Amazon Company should ensure that all the staff members are aware of the heads that they should receive rules and orders regarding what they should do. With this measure in place, it becomes easier for the heads to monitor how the workers are performing their duties. The other task is the delegation of the duties that require that Amazon Company should always ensure that the assignment of roles is done by evaluating a worker’s skills and traits. In other words, it is required that the Amazon Company should assess all the abilities of the employees to make sure that they are assigned duties that they can perform significantly well.
The other task is the adoption of changes into ensuring that quality is attained that includes developing the item’s design to make sure that it is what the customers want at that particular time. Since clients tend to lose their taste for a certain design with time, it is indispensable for the company to transform the product’s design that will ensure that the clients never lose their taste for the corporation and will always appreciate their effort in supplying the market with new items. Supply chain management is another task that should be managed requiring the firm to realize better ways and channels that can be adopted to help reach the market. Inventory management should be controlled and aligned with the core business activities since it will ensure that the company does not lack items to offer the clients. In other words, inventory management is a task that requires the firm to research and examine the market trends that relate to customer demand to make sure that the customers will always have all that they need. It includes offering the products at the most convenient locations that the clients will not have a hard time to access them.
Different deliverables, milestones, and resource requirements are necessary for the attainment of the different objectives that have been implemented and suggested by the Amazon Company. For instance, with the introduction of total quality management, the company should select certain team members that should be given the mandate to overlook all that happens in the firm. In other words, there is the need to assign a team to watch over all the business activities that are based on the creation of quality items. Moreover, the management team has a responsibility of ensuring that the other staffs’ members are willing to come to them when there are facing significant difficulties. It starts at formulation and maintenance of healthy relationships between the management team and staff members. It is because when they all ensure that they do not argue and fight with one another; they will always seek to coordinate and collaborate to help the business in identifying how best it can create more quality than any other company in the same business line.
The other milestone includes the formulation of budgets and ensuring that they are operational. The budgets are some of the strategies that guide the business on how it should spend its resources. The budgets will ensure that all the business departments are granted the best share of the available resources. It is to make sure that every department keeps a good track on its expenditure. With the watch out on the level of expenditure, it becomes easier for the company to make sure that no overspending is noticed and that all the departments are using the right proportions of the available resources. Additional deliverable includes making sure that the projected profits do not have a big difference in the actual profits and it is paramount and beneficial that the actual profits show a positive sign comparing with the projected performance.
Information management is another aspect that should be controlled and monitored to make sure that it is done in the right way. Therefore, Amazon Company has a responsibility of ensuring that all the proceedings are recorded appropriately, and there is no chance that the information could be lost in any way. It is to make sure that this set of information is utilized when the firm needs to research and evaluate how it has been progressing and which areas have proven to be declining with time. It helps in discussing the way forward for the activities that are noted to have declined to bring up the best decisions that will assist the firm in recognizing a significant change on the positive side.
Additionally, technological change is an aspect that should never be neglected at any time. It is because it has been discovered that the companies that have been noticed to be doing extremely well in the market have never failed to introduce the most recent technology. Clients have portrayed a high desire for improved technology expecting Amazon Company always to seek the best ways and perspectives that it can adopt when requiring maintaining the newest technology (Paul, 2013). Additionally, for Amazon Company to attain the customers’ demand, there is the need to always come up with questionnaires and interviews whose aim is to give the clients an opportunity to choose what they want from the company. It is a method of involving the clients in its production activities, which yields the corporation improved image in the market that corresponds to improved returns.
The key obstacle in the industry is the competition that arises with the existence of other large firms in the same industry. In other words, the corporation is faced with a high competition that might transform to reduced returns if the firm does not take full responsibility for eradicating competition. Therefore, different companies will always be fighting for a larger market share than the other suggesting that it is the mandate of Amazon Company to do its best to earn a better portion of the entire market. Additionally, there is the issue to do with technological challenges and pressures that relate to operation management (Stevenson, & Hojati, 2017). In other words, it is challenging to attain operational management with the continuous evolutions that occur concerning technology and various measures.
Amazon Company lacks the certainty of which technology will be in place in the market after a certain period since the market has always introduced new technologies. Also, not all the employees are aware of the computer-aided design and JIT technique suggesting that there will be incompetence among the employees. Additionally, most of the tools that need to be purchased by Amazon Company to introduce improved technologies are very costly which results in difficulties to raise the entire amount that is required. Moreover, with challenges arising from international growth, it becomes complex for the staff to control all the global operations including difficulties such as the foreign exchange fluctuations. Therefore, with the existence of all these challenges, it becomes necessary to understand which risk mitigation strategies should be utilized and have been mentioned below.
The risk mitigation strategies related to these obstacles include conducting benchmarking to realize what Amazon Company should do differently from the other firms. With the existence of technological challenges, the firm should utilize a selected team that will be responsible for development and research activities that will help in accessing new technologies at the moment they are introduced in the market (Stevenson, & Hojati, 2017). In other words, Amazon should never seize to research since that is one of the methods that can help it to discover the most recent technologies. Additionally, it is no doubt that the company should never seize to train its workers since that will advance their chances of being competent in their actions. The initiation of budgets will always help in ensuring that the company has extra cash that can be utilized to purchase most of the tools that are inevitable if the company needs to use the new technologies.
In conclusion, quality management comprises of the various strategies and steps that are related to the alignment and advancement of business processes in the Amazon Company. The company has to make use of total quality management, make sure that it adopts the best business operations, and initiate significant changes if it has to succeed. For the corporation to reach most of its objectives, it has to initiate risk mitigation strategies that include research activities and employees’ training. Additionally, it is paramount that the firm keeps a good track on information management and the technologies it utilizes.
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Potential Costs, Risks, And Benefits Of Operationalizing Business Idea