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Information Technology for Banking and Finance Essay
The current project status is devastating since the original desire of the XY department has not been met yet. The XY department purposed to replace all the outdated computer systems used in the public client management.
They also targeted to make various improvements on their systems of operation.
A plan that concurred with the1.5million provided by the government was instituted and a project steering committee put in place. However the plan was not completely implemented and so results have not been achieved as initially anticipated.
The first project steering plan failed to meet up to its expectations. This started when they broke their meetings and never monitored the activities of good systems company.
Best Essay Writing Service Youtube This is contrasts to the sound management practices. The practices state that the project manger should always ensure that the team meets often in order to acquire the set goals and scope within a period of time.
Additionally, the management should not be changed in the process unless when completely unavoidable. The swapping of mangers should involve all the team members. However the project steering team for XY department swapped leader without involving all the team members. This led to the loss of a sizeable amount of money as well as misplacing several documents.
As a solution to the current mess in executing the replacement of several computer systems, the project should come to a close. The initial step required to close the project is ensuring that all the available documents are well gathered and stored.
Best Essay Writing Service Youtube Next the remaining unused materials should be securely stored. The good systems company should present a report about the versions they implemented in order to file them. Lastly the initial project steering team should meet in order to appraise the new management progress. All information gathered should be filed and the project put to a stop until the next time.
The XY department ought to improve in the selection of competent team members to work for the project assessment. The team should also be ready to own the project and patiently give themselves till the project is done.
Best Essay Writing Service Youtube The CEO should ensure that the necessary documents are filed as appropriate. Again the department should set short time goals that are evaluated often. This practice helps achieve the complete milestones in the long-term goals of doing all replacements and improvements on computer systems.
Moreover, by applying sound planning methods, the department ought to ensure that the CEO and the financial manager are not transferred.
Best Essay Writing Service Youtube Incase they do, then proper handing over of the project should be done. This shall help reduce cases of inadequate past information for the project among the new staff. As a result there shall be flow of information that enhances completions of project in the original plan scope.
The project manger to spear head a committee should posses sound project management skills. They include ability to note and eradicate or attach unanticipated concerns during the project development process. Best Essay Writing Service Youtube H/she should also develop right estimates for all the team members in order to involve them effectively in the plan and implementation period. H/she should be able to adjust the project scope in order to fit the budget that doesn’t strain the company.
The CEO ought to be very proactive in all his endeavors while sponsoring and overseeing the project. H/she ought to use the skills necessary to balance the project pressures but with an aim of attaining the ultimate goal.
Best Essay Writing Service Youtube This is possible by introducing tasks and assigning responsibilities where possible in order to support the good contracted company.
Influence of Culture on an International Business at India Essay 2
India is considered as a unique and mysterious civilization. The country with millions labor force is a good opportunity for K & K Ltd, an Australian clothing company, to lower manufacturing costs and thus increasing profitability. As India has a strong culture, K & K Ltd should consider it to make their business fruitful in India.
Key to successful relationship is to know and honor people we are dealing with. For most Asian countries, doing business is the matter of people and relationships.
Thus, win-win relationships are the results of mutual trust and friendship comes before business agreement. For this reason, it is recommended that K & K Ltd should know and understand Indian culture for winning business.
Some issues that may influence business practice in India are as following:
First is to carefully Use Personal Titles. When dealing business with Indian, ensure that in any occasion we do use personal title to address Indian partners. For example, to address scholars or professional employers, we must mention “Professor” or “Doctor”.
If the partners do not have particular titles, just use “Mr.”, “Mrs.”, or “Miss.” Second is about Cultural Values where Indian people respect the relationship of the cultural values of individualism-collectivism.
According to Agarwala (2008), the main cultural value in India is collectivism, which means Indian put a strong emphasis on priority of group goals rather than the individual goals (Malach-Pines and Kaspi-Baruch, 2008).
Third issue is Greeting Initiation. When making a contact with female Indian, we should let a female business colleague to begin a verbal or physical greeting like shaking hands (McPherson, 1998).
The fourth issue is to have sense of Humor. According to New Zealand business journal (2009), there is a note that Indian prefers to have business negotiations with Australian than New Zealander.
The clue is Australian can provide the communication styles that Indian like; they include sense of humor and lengthy communication and negotiation.
Another important issue is Sincere Acts. It is become the rule of thumbs in any business to become honest and polite any time in order to convince them that we have sincere business objectives.
The sixth point is Assertiveness. Indian sees aggressiveness in business negotiations as signs of disrespect.
The seventh point is giving gifts. If we want to give a gift, make sure that the gift is not a large size or expensive one and we give the gift using both hands.
Based on the above elaboration, we recommend that K & K Ltd to pay attention to Indian business culture including religion, collectivism, and fatalism as their components of daily life.
They also demand foreign people to respect for healthy and successful business relationships.
Second, dealing with cultural factors when doing business in India, we must obtain and practice knowledge on local language capabilities, laws, business ethics, gender issues, and cultural diversity in workplace.
Third, consider the cross-cultural awareness and sensitivity (debating rules, negotiation, non-verbal communication, sense of humor, awareness of own culture).
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