Development of Project Management Plan

Development of Project Management Plan LITERATURE REVIEW Having seen in the previous chapter about the Project management is a carefully planned and organized effort to accomplish a specific (and usually) one-time effort, for example, implementing a new computer system. Project management includes developing a project plan, which includes defining project goals and objectives, specifying tasks or how goals will be achieved, what resources are need, and associating budgets and timelines for completion. It also includes implementing the project plan, along with careful controls to stay on the critical path, that is, to ensure the plan is being managed according to plan. Project management usually follows major phases (with various titles for these phases), including feasibility study, project planning, implementation, evaluation and support/maintenance. Comninos and Frigenti (2002 p.72) defines Project management as â€Å" The application of knowledge, skills, tools and techniques to project activities to meet project requirements. Further Haynes (1995 pp. 623) defines project management as â€Å" Project management concentrates on the project . A project is an undertaking that has a beginning and an end and is carried out to meet established goals within cost , schedule and quality objectives . Project management brings together and optimizes the resources necessary to complete the project successfully . These resources include the skills , talents and co-operative effort of a team of people , facilities , tools and equipment ; information systems and techniques and moneyâ€Å" Duncan (1995 pp. 742) has a similar view â€Å"Project management is the application of knowledge, skills, tools and techniques to a broad range of activities in order to meet the requirements â€Å" Harrison ((1988 pp.62) states these definition as â€Å"The application of modern management techniques and systems to the execution of a project from start to finish, to achieve predetermined objectives of scope, quality, time and cost, to the equal satisfaction of those involved† Cleland and Gareis (1993 pp.58) states that â€Å"Project management is the ability to define, schedule and assign project activities; record project issues; monitor progress and report changes in activity accomplishment and issue resolution; and maintain and control changes to designs, plans and issue lists† Similarly Morris (1997 pp. 221) defines as â€Å"Planning, monitoring and control of all aspects of a project and the motivation of all those involved in it to achieve the project objectives on time and to the specified cost, quality and performance† Ciborra (2002 pp. 525) defines Information System (IS) as â€Å"†¦the system of persons, data records and activities that process the data and information in a given organization, including manual processes or automated processes. Usually the term is used erroneously as a synonym for computer-based information systems, which is only the Information technologies component of an Information System. The computer-based information systems are the field of study for Information technologies (IT)† Project management is concerned with managing the entity called ‘People. There is no single universal definition of a software project , although some definitions do have similar structure. â€Å" Projects consume a variety of resources , Projects have a specific start and end point (or life cycle), Projects have a owner (i.e. consumer ), Projects have a specific budget , Project have a clear method , Projects have finite objectives. â€Å"A unique undertaking with a concise life cycle , start and end dates , a finite budget , resource allocation and defined outcome or objective † (Gary 2001 p.25) 2.1 Preview of software industry in India The software industry is one of the fastest growing industries and highest earners of foreign exchange in the Indian economy. With help from the Indian Government including tax benefits and the development of infrastructure links, the software sector has grown over 56% annually since 1995. Software exports currently reach about 95 countries and account for 10.5% of Indias total exports.There is, therefore, significant interaction on the global level between IT companies and other countries and companies, which might account for the lead Infosys has taken amongst its peers in the field of CSR (Narayana Murthy CEO Infosys , 2006 15/02/07) The India Software Industry has brought about a tremendous success for the emerging economy. The software industry is the main component of the Information technology in India. Indias pool of young aged manpower is the key behind this success story. Presently there are more than 500 software firms in the country which shows the monumental advancement that the India Software Industry has experienced (IIT,2002 p.4) 2.2 Infosys and its relation to software project management Founded in 1981 in Bangalore by Narayana Murthy and six colleagues, Infosys is positioned to integrate the needs of vendors and service providers, using existing solutions or relying on new product development. The company does the necessary integration, software development, feature enhancements testing, release and third level support. It provides solutions to the financial sector the biggest chunk of its business- as well as to 460 other clients across a broad spectrum of other industries. (www.infosys.com 14/02/08) In terms of project management, software project work is split into two components: onsite and offshore, according to where it can be best done, at the lowest cost, and with the lowest level of acceptable risk, thereby de-coupling capability development and delivery. Although Infosys was not spared by the dotcom crash in 2001, thanks in part to the loyalty built up among employees the business bounced back, and by 2006 its market capitalization was US$18 billion. For Murthy, leading by example is what counts. This translates into three core values: respect for the individual, data-based decision making, and embracing constant change by forcing people to share their innovations. Infosys has established a systematic pattern of succession planning whereby board members remain in the vanguard but are underpinned by a three-tier leadership structure for high-potential managers. Younger employees are viewed as the eyes and the ears of the company, bringing to the forefront contemporary issues that might otherwise be overlooked (Manfred , Vries, Agrawal and Florent-Treacy 2006 p.121) Since incorporation, Infosys annual revenue has rapidly increased and it reached 1 trillion in 2006. Unlike many other Indian IT companies Infosys has concentrated on building software applications and this has contributed to its global success Infosys Technologies employs nearly 17,000 people worldwide, almost 10,000 of whom are software professionals. 116 new clients in the financial year (FY) 2002 added to the already prestigious list that includes Airbus, Cisco, Nordstrom and Boeing. Retail banking services account for around 4% of total revenue. The company vision is to be the best globally, commercially and ethically. As such, Infosys has developed a C-Life principle of core values that it aims to honour in all aspects of its business conduct . C LIFE represents Customer delight , Lead by example , Integrity and transparency , Fairness and Excellence (www.infy.com 15/06/07) 2.3 Project Management Processes (Infosys based approach) Turner J and Rodney (2005 p..43) states that ‘ A project management process is the management process of planning and controlling the performance or execution of a project ‘ Although all projects are different and have unique features m there are elements which are common to most . A process model needs a set of features which Are adaptable to a wide range of applications Provide a complete and adequate definition of any project to which they are applied Are easy to assimilate , with the key tasks and points of interest highlighted Are suitable to act as a memorandum and checklist to ensure that everything is covered Do not impose any unnecessary constraints on the use of tools , techniques and methods during the projects A process model can be helpful to a project manager in planning the project but obviously cannot be followed blindly and must be tailored to meet the requirements of the project . Not all the elements of the process model will be appropriate , but the model can be used as a checklist to ensure that nothing important is missed from the project . The process model is also used to help define what is required of the project manager at each stage in the project and to define the inputs and outputs of each stage . (Van Vliet , 2004 p.52) Infosys executes hundreds of projects each year. Full responsibility for executing a project rests with the project manager, who must make sure that the project team delivers high-quality software to the customer on time and within cost. To help the project manager fulfill this responsibility, support from the organization is necessary. (Mahajan and Ives , 2006 p.231) This section provides a brief background Infosys support for managing software projects. For a project team to successfully execute a project, it must perform hundreds of tasks, many of them interdependent. Effectively managing this process is extremely important for success. (Harvey 2003 p.52)At Infosys, the set of activities executed by a project manager is specified in the project management process. It is fairly standard, having three main stages: Software project planning Software project execution Software project closure 2.3.1 Software Project Planning The key to a successful software project is in the planning. Creating a project plan is the first thing one should do when undertaking any kind of project. Often project planning is ignored in favor of getting on with the work. However, many people fail to realize the value of a project plan in saving time, money and many problems. A project is successful when the needs of the stakeholders have been met. A stakeholder is anybody directly or indirectly impacted by the project. (Lackman 1987 p.57) As a first step it is important to identify the stakeholders of software project. It is not always easy to identify the stakeholders of a project, particularly those impacted indirectly. (Lewis J 1995) Examples of stakeholders are: The project sponsor The customer who receives the deliverables The users of the project outputs The project manager and project team Once understanding who the stakeholders are, the next step is to establish their needs. The best way to do this is by conducting stakeholder interviews. Considerable time can be utilized during the interviews to draw out the true needs that create real benefits. Often stakeholders will talk about needs that arent relevant and dont deliver benefits. These can be recorded and set as a low priority. ( Berlick 1992 p.72) The next step once after all the interviews done and have a comprehensive list of needs it is now to prioritize them. From the prioritized list its important to create a set of goals that can be easily measured. A technique for doing this is to review them against the SMART (specific, measurable, agreed upon, realistic and time-based ) principle. This way it will be easy to know when a goal has been achieved. Once having established a clear set of goals they should be recorded in the project plan. It can be useful to also include the needs and expectations of the end users- stakeholders. (Thomsett 1989 p.51) At Infosys , in the project planning stage, as revealed by Marsh (1998 p.17) , the project manager reviews contractual commitments and creates a plan to meet them. Creating a project plan involves defining a life-cycle process to be followed, estimating the effort and schedule, preparing a detailed schedule of tasks, and so on. It also includes planning for quality and configuration management as well as risk management. In this phase, the major activities of the project manager are as follows: According to McManus (1997 p.69) , the project manager performs startup and administrative tasks and creates the project plan and schedule. He is also responsible for defining the objectives of the project . The suitable standard process for the project execution is identified . Also the standard process to meet project requirements are tailer . Also a process for managing changes in requirements is designed . The estimation of effort involved is undertaken . Also the plan for human resources and team organization is determined . The project milestones are defined and schedules created accordingly. Also the quality of objectives and a quality plan to achieve them are determined . A defect prevention plan in designed. The risks are identified and plans are made to mitigate them. A measurement plan for the project is defined .A training plan for the project is designed . The project-tracking procedures are analyzed for effective execution . Also a review of the project plan and schedul e are performed . Authorization from senior management is obtained . The configuration management plan and defined and reviewed . Also orientation of the project team to the project management plan is executed In addition to the project manager, this phase involves the customer, an SEPG representative, and the business manager for the project. The entry criterion is that the contract or project authorization is available. The exit criterion is that the project plan has been documented and group reviewed (Morgon 1986 p.19) 2.3.2 Software Project Execution According to ,Harvey ( 2003 p.167) ,the purpose of Project Execution and Control is to develop the product or service that the project was commissioned to deliver. Typically, this is the longest phase of the project management lifecycle, where most resources are applied. Project Execution and Control utilizes all the plans, schedules, procedures and templates that were prepared and anticipated during prior phases. Unanticipated events and situations will inevitably be encountered, and the Project Manager and Project Team will be taxed to capacity to deal with them while minimizing impact on the projects CSSQ. Project Execution and Control Kick-off is where the project manager conducts a meeting to formally begin the project execution and control phase, orient new project team members, and review the documentation and current status of the project. The purpose of Project Execution and Control Kickoff is to formally acknowledge the beginning of project execution and control and facilitate the transition from project planning. Similar to project planning kick-off, project execution and control kickoff ensures that the project is still on track and focused on the original business need. Many new team members will be introduced to the project at this point, and must be thoroughly oriented and prepared to begin work. Most importantly, current project status is reviewed and all prior deliverables are re-examined, giving all new team members a common reference point. (Rodney 1999 p.123) Manage CSSQ is where the project manager must manage changes to the project scope and project schedule, implement quality assurance and quality control processes according to the quality standards, and control and manage costs as established in the project budget. (SEI 1996 p.4)The purpose of Manage CSSQ is to manage changes to project scope , control the project schedule and manage schedule changes , implement quality assurance and quality control , processes according to the quality standards revised during project planning control and manage costs established in the project Monitor and Control Risks, where the project manager and project team utilize the risk management plan prepared in previous phases, and develop and apply new response and resolution strategies to unexpected eventualities.Risks are potential future events that can adversely affect a projects Cost, Schedule, Scope or Quality (CSSQ). In prior phases, the project manager defined these events as accurately as possible, determined when they would impact the project, and developed a risk management plan. As the impact dates draw closer, it is important to continue re-evaluating probability, impact, and timing of risks, as well as to identify additional risk factors and events. When the risk event actually occurs, the risk (which is by definition a future, potential event) becomes an issue (which is by definition a current, definite condition) and issue monitoring and control takes over. The purpose of monitor and control risks is to deploy the risk management plans prepared in prior phases to anticipate project challenges, and to develop and apply new response and resolution strategies to unexpected eventualities. (Humphrey 1989 p.92) Manage Project Execution, where the Project Manager must manage every aspect of the Project Plan to ensure that all the work of the project is being performed correctly and on time.Project Execution is typically the part of the lifecycle of a project when the majority of the actual work to produce the product is performed and the majority of the project budget is expended. The purpose of manage project execution is to manage every aspect of the project plan as work is being done to make certain the project is a success. This process is performed concurrently with the manage CSSQ and monitor and control risks processes. The tasks in this process are performed concurrently and repeatedly as various aspects of the product of the project are constructed, tested, and accepted. (Dion 1994 p.172) Gain Project Acceptance, where the Project Manager, customer decision-makers and project sponsor acknowledge that all deliverables produced during project execution and control have been completed, tested, accepted and approved, and that the product or service of the project has been successfully transitioned to the performing organization.The purpose of Gain Project Acceptance is to formally acknowledge that all deliverables produced during project execution and control have been completed, tested, accepted, and approved by the projects Customers and the Project Sponsor, and that the product or service the project developed was successfully transitioned from the Project Team to the Performing Organization. Formal acceptance and approval also signify that the project is essentially over, and is ready for Project Closeout. (Duran 1988 p.49) At Infosys , the second phase, as in the words of Finney ( 1999 p.193) , project execution, involves executing the project plan, tracking the status of the project, and making corrections whenever project performance strays from the path laid down in the project plan. In other words, it involves tracking and controlling the implementation of the project process. This phase is the longest in the project management process, incorporating periodic tasks such as monitoring project status and quality and taking any needed corrective steps. In this phase, as said by ( Harvey 2003 p.62) , the project manager executes the project as per the project plan. , tracks the project status., reviews the project status with senior management. , monitor compliance with the defined project process. , analyze defects and perform defect prevention activities, monitor performance at the program level and conduct milestone reviews and replan if necessary. Other members of the team also participate in this stage. The entry criterion is that the project plan is complete and approved, and the exit criterion is that all work products delivered are accepted by the customer 2.3.3 Software Project Closure The Project closure report is produced at the end of the Project, and provides the Project Board with a review of the overall Project and an assessment of how successfully the Project has met its objectives. This report will be presented at the final Project Board meeting, and must be signed off by the Project Board as part of the process of formally closing the Project. (Watts 1987 p.122) As said by Sanders and Curran (1994 p.623) , a carefully structured project closure phase should ensure that the project is brought to a controlled end. The project manager should prepare the end project report, which details the main findings and outcome of the project and represents a formal review of the projects degree of success. The project manager should organize the project closure meeting and draw up a list of who should attend. This meeting is concerned with reviewing the project and ensuring the completeness of all of the major project deliverables. It is the final formal control point apart from the post implementation review; and should be attended by the project owner and the overall project manager. The basic question facing the attendees is: Did the project deliver its intended end-product within the time and budgetary limits set? According to Thomsett (1989 p.62) , The last stage of the project management process, project closure, involves a systematic wind-up of the project after customer acceptance. The main goal here is to learn from the experience so that the process can be improved. Post-project data analysis constitutes the main activity; metrics are analyzed, process assets (materials, such as templates and guidelines, used to aid in managing the process itself) are collected for future use, and lessons are recorded. Because learning from the project is the main goal, this is a group activity that involves the project manager, the SEPG, and other members of the team. The entry criterion is that the customer has accepted the work products. The exit criterion is that a post project meeting has been conducted. The main outputs of this phase are the project closure report and the collected process assets. 2.4 Capability Maturity Model CMM is a development methodology thats designed to help projects make use of reusable processes . There are some pain involved in making the switch , but the benefits to development staff and the organization make it worthwhile The CMM describes a continuum of characteristics based on how well your company or organization follows common and repeatable processes to get your work done. CMMs have been developed for software acquisition, people, and software (Paulk 1993 p.342) Although the SEI continues to enhance and expand the scope and breadth of various CMM models, the primary focus for most companies continues to be software development. Perhaps the biggest reason for looking at software development is that the process uses a fair amount of creativity, which can lead to unpredictable results. However, much (but not all) of the software development process can be standardized using a common set of processes. Common processes can be set up for the project management side Moving up the CMM levels allows an organization to standardize its software development processes in areas that can be successfully repeated from project to project Organizations that use the CMM for software development describe their level of standardization against CMM benchmarks using a scale of 1 to 5. The low end of the scale describes companies that arent using repeatable processes; much of their work is chaotic and ad hoc. The high end describes companies that use defined and re peatable processes, collect metrics to help them continuously improve their processes, and look for creative ways to do things better on an ongoing basis.(Watts 1987 p.79) Many companies are seeing that they can drive business value by implementing good, reusable processes throughout their organizations. The CMM provides a framework that companies can use to measure themselves on a standard 1 to 5 scale. Most companies today are at level 1 and would love to get as high as level 2. Most managers and organizations realise that they should have common and repeatable processes. However, pain will definitely be involved (Gilb 1998 p.122) Infosys has been assessed at level 5 (the highest level) of the Capability Maturity Model (CMM). By extracting project management processes from the set of processes at Infosys, this book also illustrates how projects are managed in a high-maturity organization. Through this illustration, I hope to bring the benefits of the CMM to project managers who have not studied it because of lack of time, because they regard it as being for process folks or because they have found it difficult to relate the CMM to project management practices. (www.infosys.com 02.07.07) 2.5 KPAs and its importance in Project Management Each KPA specifies goals that the processes of the organization must meet to satisfy that KPA. In addition, each KPA specifies a group of activities, called key practices, that collectively satisfy the goals of that KPA. In many senses, the goals for each KPA capture its essence. They specify the objectives that the CMM has set for the processes relating to the KPA. To illustrate the KPAs associated with project management, we briefly discuss here the goals of these KPAs. These goals are taken from the CMM,with some minor changes in the wording of some goals. ( Cooper and Woolgar , 1994 p.589) 2.5.1 Goals of KPAs at Level 2 2.5.1.1 Requirement Management RM Requirements management is all about balance, communication, and adjustment along the way. To prevent one class of requirements from over-riding another, constant communication among members of the development team is critical. For example, in software development for internal applications, the business has such strong needs that it may ignore user requirements, or believe that in creating use cases, the user requirements are being taken care of. (Bevan 1992 p.165) 2.5.1.2 Software Project Planning SPP The purpose of Software Project Planning is to establish reasonable plans for performing the software engineering and for managing the software project. Software Project Planning involves developing estimates for the work to be performed, establishing the necessary commitments, and defining the plan to perform the work (Barker 1992 p.522) 2.5.1.3 Software Project Tracking and Oversight SPTO The purpose of Software Project Tracking and Oversight is to provide adequate visibility into actual progress so that management can take effective actions when the software projects performance deviates significantly from the software plans. Software Project Tracking and Oversight involves tracking and reviewing the software accomplishments and results against documented estimates, commitments, and plans, and adjusting these plans based on the actual accomplishments and results (Budlong and Peterson 1996 p.523) 2.5.1.4 Software Subcontract Management SSM The purpose of Software Subcontract Management is to select qualified software subcontractors and manage them effectively. Software Subcontract Management involves selecting a software subcontractor, establishing commitments with the subcontractor, and tracking and reviewing the subcontractors performance and results. These practices cover the management of a software (only) subcontract, as well as the management of the software component of a subcontract that includes software, hardware, and possibly other system components (ISO 9000-3 p.5) 2.5.1.5 Software Quality Assurance SQA Software Quality Assurance (SQA) is defined as a planned and systematic approach to the evaluation of the quality of and adherence to software product standards, processes, and procedures. SQA includes the process of assuring that standards and procedures are established and are followed throughout the software acquisition life cycle. Compliance with agreed-upon standards and procedures is evaluated through process monitoring, product evaluation, and audits. Software development and control processes should include quality assurance approval points, where an SQA evaluation of the product may be done in relation to the applicable standards. (Kontonya and Sommerville , 1998 p.212) 2.5.1.6 Software Configuration Management SCM In software engineering, software configuration management (SCM) is the task of tracking and controlling changes in the software. Configuration management practices include revision control and the establishment of baselines (Keller et al 1990 p.521 ) 2.5.2 Goals of KPAs at Level 3 2.5.2.1 Integrated Software Management ISM The purpose of Integrated Software Management is to integrate the software engineering and management activities into a coherent, defined software process that is tailored from the organizations standard software process and related process assets, which are described in Organization Process Definition. Integrated Software Management involves developing the projects defined software process and managing the software project using this defined software process. The projects defined software process is tailored from the organizations standard software process to address the specific characteristics of the project (Saiedian Hossein and Kuzara 1995 p.321) 2.5.2.2 Intergroup Coordination IC Intergroup Coordination involves the software engineering groups participation with other project engineering groups to address system-level requirements, objectives, and issues. Representatives of the projects engineering groups participate in establishing the system-level requirements, objectives, and plans by working with the customer and end users, as appropriate. These requirements, objectives, and plans become the basis for all engineering activities (TickIT Guide p.21) 2.5.2.3 Peer Reviews PR In software development, peer review refers to a type of software review in which a work product (normally some form of document) is examined by its author and one or more colleagues, in order to evaluate its technical content and quality When performed as part of each Software development process activity, peer reviews identify problems and fix them early in the lifecycle. That is to say, a peer review that identifies a requirements problem during the Requirements analysis activity is cheaper and easier to fix than during the Software architecture or Software testing activities ( Gentleman 1996 p.92) 2.5.3 Goals for KPAs at Level 4 2.5.3.1 Quantitative Process Management QPM Quantitative Process Management involves establishing goals for the performance of the projects defined software process, which is described in the Integrated Software Management key process area, taking measurements of the process performance, analyzing these measurements, and making adjustments to maintain process performance within acceptable limits. When the process performance is stabilized within acceptable limits, the projects defined software process, the associated measurements, and the acceptable limits for the measurements are established as a baseline and used to control process performance quantitatively (Daly-jones and Thomas 1997 p.142) 2.5.3.2 Software Quality Management SQM Its here were the projects software quality management activities are planned . Measurable goals for software product quality and their priorities are defined . Actual progress toward achieving the quality goals for the software products is quantified and managed (Broad

Coca-Cola Company Financial Results Analysis Essay

This paper will attempt to discuss the North American market for The Coca-Cola Company in the impact to volume growth or declines for the period, discuss the drivers of profitability during the quarter at The Coca-Cola Company and the likely long-term impact of these drives on profits, discuss the EPS results for the quarter in comparison to historic results and long-term growth targets, and discuss the emerging markets for The Coca-Cola Company and the likely future impact on earnings per share. Coca-Cola Company Financial Results Analysis Discuss the North American market for The Coca-Cola Company in the impact to volume growth or declines for the period The North American market for The Coca-Cola Company is growing positively. Increasing mobility of the company and continuing a positive image for emerging new middle class clients is fueling Coca-Cola into claiming the title of number one beverage producer in North America. Providing that outside factors do not put a slump on the economy, strategic focus of building a strong brand, creating a positive value for the products, and keeping with sound investment practices will ensure the continuing growth of The Coca-Cola Company. For the first quarter of 2012, the North American market for The Coca-Cola Company impact on volume was positive. First quarter reported that the North America Group’s volume grew 2% in the quarter. (Muhtar Kent, 2012) The net revenues increased by 5% with â€Å"as reported† volume growth of 1%. (Muhtar Kent, 2012) The volume growth reflected the effect of having one less day for the quarter in the current year. There was also a positive price/ mix of 3% and a 1% benefit due to the structural change in relation to the acquisition of Greayt Plains Coca-Cola Bottling Company. (Muhtar Kent, 2012) Sparkling beverage volume, drinks with carbonation, grew by 1% for the quarter and still beverage volume grew by 6%. (Muhtar Kent, 2012) There was a reported decline in operating income in the first quarter. (Muhtar Kent, 2012) Due to the cycling of lower commodity costs in prior periods as well as having one less day for sales in the current year quarter, comparable currency nuetral operating income declined 9% in the quarter. (Muhtar Kent, 2012) This decline may be linked to current year timing in comparison to the prior year, which was comtemplated in The Coca-Cola Company’s internal planning process. (Muhtar Kent, 2012) Discuss the drivers of profitability during the quarter at The Coca-Cola Company and the likely long-term impact of these drives on profits. The drivers for profitability came from strong brand programming, positive pricing of products and overall structure change. Smart investing is also another driver of profitability. The advertisement seen at events and on television programming has helped push The Coca-Cola Company’s products into the view of the consumers. The planning processes have positioned The Coca-Cola Company into staying conservative with its investments and watch the market fluctuations as to creating long term investment growth possibilities. (Muhtar Kent, 2012) Things on the radar for The Coca-Cola Company include watching the employment rate in the countries where they are located and the economic environment globally, in relation to if the markets are improving or declining. (Muhtar Kent, 2012) Keeping brands and investments healthy and positive are the main drivers that will impact the long term profitability of this company. Discuss the Earnings per Share results for the quarter in comparison to historic results and long-term growth targets. The earnings per share reported for the first quarter was $0.89. (Muhtar Kent, 2012) In comparison to April 30, 2011, the diluted net income per share was up by 9%, up from $0.82. (Muhtar Kent, 2012) The Coca-Cola Company launched a new program that was to starting the first quarter of 2012 and ending in 2015 called the â€Å"Productivity and Reinvestment program†. (The Coca-Cola Company Reports Full-Year and Fourth Quarter 2011 Results, 2012) This program ihas been set to provide an incremental yearly savings of $550 to $650 million. (The Coca-Cola Company Reports Full-Year and Fourth Quarter 2011 Results, 2012) This goal is fueled by the more than $500 million annualied savings from the previous productivity program launched in 2009 and ending in 2011. (The Coca-Cola Company Reports Full-Year and Fourth Quarter 2011 Results, 2012) The Company’s 2020 goal of designing and implementing the most effective and efficient business system is well on its way towards becoming a reality. Discuss the emerging markets for The Coca-Cola Company and the likely future impact on earnings per share Volume growth for newer markets in China, Japan, and Thailand are on the forefront of The Coca-Cola Company’s main list of places to increase their product presence and strengthen their brand. Having a good price mix of investments and watching the economic status of these countries will help the Company to make sound investment strategies and increase their earnings per share in these regions. China will be an important player in the growth of business for The Coca-Cola Company. This is one of the fastest and largest markets to gain control of and strong marketing practices, along with bringing new jobs to this powerhouse economy will only increase the likelyhood of achieving a positive earnings per share return. In Japan, expanding the current market of items like coffee, sparkling beverages, and teas would help to increase sales in this country. Keeping the brand present as this country tries to recover from a natural disaster in 2011 will help to ease The Coca-Cola Company’s presence back into the line of things for the consumers in this market. Working closely with bottling groups and keeping good ties are helping to spur coke in a positive direction as Japan attempts to recover from the prior year’s decline due to natural disasters. The Coca-Cola Company’s outlook remains positive as it attempts to keep moving forward in the market of beverages. The Company’s long term goals of increasing its efficiency in branding, increasing its productivity, creating new jobs globally, and working on restructuring the company is helping to keep the Company as a top contender in the beverages category and will help maximize its efforts to increase profits for itself and the shareholders.

Collective Bargaining Creating Better Working Conditions

In the nineteenth century, America was sizeable as it delved into the Industrial Revolution and watched its economy grow. With new technology and a voracious appetite for capital goods, the nation's productive capacity multiplied. Cities formed as business owners built factories that attracted and hired millions of workers. Immigrants poured into the country, while prospective settlers west found the frontier closed. The working class was scrambling for employment and factories willingly provided it. Yet the very abundance of these laborers turned them into expendable machine parts.No one bothered to make working conditions safer as ociety believed that the working class deserved their terrible conditions due to their lack of natural ability. Soon, however, workers found that they could unite to achieve their goals. At the turn of the nineteenth century, Americans, dissatisfied with low- paying, hazardous Jobs stemming from Social Darwinism, publicized their plight and began to form unions that ineffectively bargained with factory owners and the government to create better working conditions. unskilled workers in particular were subject to strict rules set by their employer about their hours and tasks.Stockholders needed profits, and laborers needed Jobs. As a result, industry tycoons found that they could mistreat their underlings. Clocks were â€Å"set back to stretch the day', and doors were locked to keep employees from leaving early (Mitelman 80). A minute of tardiness cost a precious hour's salary, and almost a full hour of work at the end of the day did not translate Into an hour's compensation. A worker who arrived a few minutes late could get fired (Sinclair 20). But no matter; hordes of willing replacements teemed at factory gates.Too late did a congressional committee discover that Chicago packhouses were unsanitary and driving workers to their deaths. Employees had to work In closed rooms only slightly warmer than freezing and stand on wet floors t hat made feet more susceptible to disease. The committee reported the â€Å"neglect on the part of their employers to recognize or provide for the requirements of cleanliness and decency of the employees† (â€Å"House† 116). Industry had no care for their expendable workers, and the government was slow In discovering the health risks the working environment posed.Nor did companies concern themselves with more sudden hazards that could strike their factories. Out of economy and sheer nonchalance, they neglected to Install basic safety measures. Thus the Triangle Shirtwaist Fire In 1911 that started as a small fire and exploded Into a conflagration amid the combustible shirtwaist fabric and wooden floors. Hundreds of workers perished as they rampaged through the long tables â€Å"out through the one open door† (Mltelman 82). The factory doors were troublesome as they opened Inwards towards the pressing, panlcklng crowd.Firefighters found themselves stranded halfwa y off the ground as their ladders could not even reach the top three floors of the factory. The sheer momentum of those workers desperate enough to Jump â€Å"ripped big holes through the life nets†, yet others ingle fire escape soon buckled, plunging workers to their deaths before they could reach the safety of the neighboring rooftop (Mitelman 83). The systematic slaughter of Triangle Shirtwaist employees could have been avoided had the company heeded simple fire precautions.Yet the company's owners, similar to other business magnates who held such power, only acted with such brazenness because of the social version of Charles Darwin's â€Å"survival of the fittest† work. One of the greatest biologists in history, Darwin believed that the genetically supreme would succeed. Translated into Social Darwinism, industrial tycoons were rich because they were naturally talented. Assisted by high capabilities, wealth could burgeon in the hands of those who earned it, so the government had no place meddling with its cries of reform (Henretta 579).Men such as Andrew Carnegie, a wealthy steel businessman at the turn of the century, had himself risen from an abject immigrant childhood, crediting his competence. He believed in a few choice elite spreading the wealth to the poor, since â€Å"the laws upon which civilization is founded† had given society's wealth to that group (Carnegie). Inheritors erred and squandered their bequests, since only the original businessmen had the â€Å"superior wisdom, experience, and ability' to earn such large fortunes (Carnegie).The working class could receive monetary assistance, but the most prosperous men, with the most power in lawmaking, decided there was no use in improving laborers' conditions if they couldn't rise out of poverty themselves. As the wealthy lived in luxury during the Gilded Age, unsympathetic to the plight of the uneducated masses, these men suffering from fires and starvation began the labor movement themselves in search of change. The Knights of Labor, founded in 1869, advocated republicanism as it strove for its goal of employee-run cooperatives with fair payment, a minimum working age, and gender equality.The group worked to secure â€Å"the organization and direction, by co-operative effort, of the power of the industrial classes† in order to achieve these mighty objectives (â€Å"Knights† 72). Their weapon of choice was strikes, or at least the threat of them. Combined with trade unions, the workers gained a potent weapon through their organization. However, the Knights were idealists, insisting on radical ideas such as that all laws must â€Å"bear qually upon capital and labor†, and were unwilling to yield in their quest to equalize capitalists and laborers (â€Å"Knights† 73).Thus the more realistic trade unions such as the American Federation of Labor began to replace the Knights. Unionists such as Samuel Gompers worked for smaller c auses, such as an eight-hour workday. Claiming that shorter workdays would promote innovation and enhance industrial progress, Gompers convinced the public that an eight-hour workday would reduce labor to create â€Å"more advancement and intelligence, and a nobler race of people† (â€Å"Unionist† 74). Yet rhetoric was only rhetoric; the only way to combat big business was through strikes.Theoretically the strike was an effective tool, but in practice it was more often a failure. Strikers only held the power of collective bargaining if all employees left their posts and barricaded their replacement scabs. But many of the best workers initially resisted Joining unions, as exemplified by Jurgis in Upton Sinclair's portrayal of Chicagds meatpacking industry. An immigrant fresh from Europe, Jurgis was a strong butchering work. He believed the union was for weaklings, and â€Å"if they couldn't do it, et them go somewhere else† (Sinclair 61).Even when the strike did succeed, arbitration between unions and managers still left workers with the short end of the stick. The Triangle Shirtwaist Factory beseeched members of the Women's Trade Union League to return after the Triangle Shirtwaist Fire, luring them with promises of safety improvements that turned out to be hollow once the trusting girls returned to work (Mitelman 83). Yet workers could not know if changes would be implemented until they broke the strike, and once they did a new strike would be even more difficult to organize.The government too would rush to aid big business during strikes. In the Great Railroad Strike of 1877, hoodlums burned the Pennsylvania Railroad Company trains in a riot. The government charged the strikers with arson and rioting, â€Å"although it was common knowledge that it was not they who instigated the fire† Cones 32). Deputy sheriffs hired by the Pittsburgh mayor created chaos in the city, but they too charged the results of their conduct to the striker s Cones 32).Eventually quelled by federal troops, the riot was an example of federal government using court actions and anti-labor legislation to show that it supported industry bove the common worker. Although the federal and state governments remained unconcerned with the working class, local political machines recognized their difficulties. As the grassroots representation of laborers, local government needed votes and could get them by improving the working environment. Collectively, the group of voters had more political influence through their political representatives than individuals did.Tammany Hall in New York City helped the newly formed New York State Factory Commission pass 56 laws concerning fire safety, hazardous machinery, and wages for womena dn children (Henretta 651). The New York Consumers' League, middle-class women shocked by the indecency of working conditions, limited Oregon women's working hours through the Supreme Court. Other lobbyists convinced Massachuse tts to pass a minimum wage law for women and children in 1912 (Henretta 645). But Supreme Court rulings and the few government laws passed could be effective only when the laws were enforced.Factories such as the Triangle Shirtwaist Factory violated fire regulations even after the disastrous fire (Mitelman 83). With little to lose if disobedient, too often did industries turn deaf ears to government mandates of eform. Although the efforts of unions and politicians in the early twentieth century were easily defeated and fell short of lofty goals to improve working conditions, these spurs of labor reform began an effective labor movement that gathered force to stimulate the Progressive Era.Muckrakers exposing societys ills tugged at heartstrings and stirred the fever of reform through the sight of revolting work and sickening men, providing a sharp contrast between capitalists and laborers. As the middle and upper class abandoned Social Darwinism, the Progressive Era emerged here the government finally became a friend rather than an enemy to the lower class. Progressive presidents welcomed bills limiting hours while promoting collective bargaining through labor unions.At the same time, both the executive and Judicial branches worked to weaken big businesses consisting of trusts and monopolies. The mid-century, until the major goals of minimum wage, maximum hours, and prevention of child labor were achieved. Although laborers still strive for better conditions and industries still resist, workers are now armed with the tools they need to improve their plight.

Mcdonald Marketing of Service - 12670 Words

Table of Contents Acknowledgement 3 Executive Summary 4 1 Company’s Corporate and Marketing Objectives 6 2 Situation Analysis 7 2.1 External Environment 7 2.1.1 PESTLE Analysis 7 2.1.2 Competitive Audit 10 2.2 Internal Environment 11 2.2.1 Internal Environment 11 2.3 Goods or Services Continuum 14 2.4 Services Characteristics 14 2.4.1 Intangibility 14 2.4.2 Heterogeneity 15 2.4.3 Perishability 15 2.4.4 Inseparability 15 2.5 Core and Peripheral Elements 15 2.5.1 Core Elements 16 2.5.2 Supplementary Elements 16 2.6 Bundle of Benefits Offered 19 3 Customer Analysis 19 3.1 Target Marketing 19 3.1.1 Geographic Segmentation 20 3.1.2 Demographic Segmentation 20 3.1.3†¦show more content†¦Moreover, the service characteristics of McDonald’s such as intangibility, heterogeneity, perishability, and inseparability will also be discussed in this paper. McDonald’s had taken concern of their core elements and supplementary elements as facilitating services and supporti ng services are essential for customers so that they could have positives impression on McDonald’s services. As a team, we have also been analyzing how McDonald’s target each of the market segments such as the geographic segmentation, demographic segmentation, psychographic segmentation and behavioral segmentation. McDonald’s had also implemented several of strategies to reduce the customers’ perceived risk and their expectation before they purchase the McDonald’s meals. In the end of the discussion, this paper will examine the current McDonald’s pricing, promotional and marketing strategies. Briefly, McDonald’s pricing strategies was using the Dollar menu option as well as value pricing strategy and products bundle strategy to increase overall sales in combination with competitive pricing. 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