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Royal Melbourne Institute of Technology *
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2162
Subject
Management
Date
May 5, 2024
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docx
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Provide business overview
Provide an overview of the business, including:
name of business
description of what the business does (e.g. key functions, vision)
your job role within the business (or the role you’re assuming if you are basing this assessment on the case study).
The name of the business is Worlducation
Worlducation makes tablet computers for kids in school. Our company is not only giving out the tablets but also make software and content for them. Our aim is to change how kids learn in school by using smart technology. We want every kid to be able to learn how to read and write. For every school that purchase our tablets, we will donate one to a school that can't afford them. Our goal is to help both schools work together and learn from each other.
For this case study I am the Operations Manager
Outline complex issue
Describe the complex issue associated with the business,
including:
a brief outline of the issue
who the stakeholders are and how they are associated with the issue
analysis and presentation of numeric and financial data illustrating the complex issue (attach
to this section of the portfolio)
Due to COVID-19, there are delays in making and delivering tablets. This is causing problems with money and making it hard to plan. The company
needs to find solutions to keep going strong.
Currently, the company is facing these following crisis
Disruptions to the supply chain due to COVID-19 resulted to delayed manufacturing and shipping that affects order fulfillment.
Revised revenue projections for 2020 with lower net profits and negative cash flow.
Pressure on the company's finances due to increased investment needs.
As for the stakeholders, the project involves management, employees, senior executives, and government supporters. However, recently, we've also included our distributor, supplier, and joined vendors.
Financial Aspect
2019 Figures
2020 Projections
Revised 2020 Projections
Revenue
$35 Million
$45 Million
$55 Million
Net profit
$7 Million
$9 Million
$5 Million
Net cash flow
$4 Million
$5 Million
-$3 Million
Impact of Covid-19
two objectives when pursuing solutions
three advantages of solving the issue.
three risks involved in pursuing solutions.
Disruptions in supply chain leading to delays in manufacturing and shipping.
Only 500 out of 2000 tablets scheduled for shipment by April completed on schedule.
Tension between mainland China and Hong Kong adds to uncertainty.
Budget
There’s big difference between the projected and revised 2020 figures
Increase in revenue offset by decrease in net profit and negative
cash flow.
Funding Options
Management considering options like investing in a second manufacturing facility or outsourcing production.
Each option has implications for revenue, profit margins, and cash flow.
Worlducation faces challenges due to disruptions in the supply chain and financial impacts. The company is looking for ways to solve this problem.
Managing Supply Chain Management – Worlducation plans to find ways to solve the disruptions in the supply chain, like problems with getting materials or shipping products. The company will find new suppliers, planning better, or finding ways to keep things running smoothly despite the challenges.
Making Finances Better – The company are now taking steps to improve our financials , like spending less money, working more efficiently, or finding new ways to make money. This could involve making production better, talking to suppliers about prices, or finding new customers.
Three advantage of solving the problem could be:
Improve operations - by addressing supply chain disruptions and financial
impacts, Worlducation can streamline its operations and ensure smoother manufacturing and shipping processes. This could lead to increased productivity and reduced costs in the long run.
Enhance financial performance - Solving the issue would help Worlducation stabilize its financial position and improve profitability. By
optimizing production processes, reducing expenses, and exploring new revenue streams, the company can boost its bottom line and achieve sustainable growth.
Maintained Reputation and Customer Satisfaction - Resolving supply chain challenges and financial issues demonstrates Worlducation's commitment to its customers and stakeholders. This helps maintain trust and loyalty among customers, suppliers, and investors, enhancing the company's reputation in the market and ensuring continued success in the future.
Legislative and organisational requirements
Establish the legislative and organisational requirements related to the complex issue, including:
a summary of the relevant legislation
a summary of the associated organisational policies
and procedures The laws that apply here are the Competition and Consumer Act 2010, which says that businesses must deliver what they promise in their ads and can't mislead customers. Then there's the Export and Import Law, which are the rules businesses need to follow when they're involved in bringing things into or sending things out of Australia.
The relevant legislation for Worlducation includes the Competition and Consumer Act 2010 and export and import laws. The Competition and Consumer Act ensures that businesses deliver on their advertising promises without misleading customers. Export and import laws govern the activities of businesses involved in international trade, ensuring compliance with regulations when importing or exporting goods to and from Australia.
Relevant organizational policies and procedure are listed below:
Supply Chain Management Policy
Outlining protocols for managing the supply
chain, including procedures for sourcing materials, coordinating manufacturing processes, and ensuring timely delivery of products.
Financial Management Policy
Establishing guidelines for financial practices, such as budgeting, expenditure approvals, and financial reporting, to ensure transparency and accountability in financial operations.
Quality Assurance Policy Defining standards for product quality and safety, as well as procedures for monitoring
and addressing any quality issues that may arise during manufacturing or shipping.
Compliance Policy
Ensuring adherence to relevant laws,
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FAILURE
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Business for a
Hobby
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Relatives for Advice
Asking Friends &
Relatives for Money
Mismanaging Money
Poor Marketing
No Business Plan
No Understanding
of Pricing
Inability to
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Transitional Periods
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Revise Goals
Inability to Develop
and Monitor
Financial
Statements
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Underestimation of
the Time
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