Difference between revisions of "Feasibility Study Quarter"

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(Concepts)
(Concepts)
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#*[[First mover]]. An enterprise that's first to bring a product innovation to the market or to use a new process innovation.
 
#*[[First mover]]. An enterprise that's first to bring a product innovation to the market or to use a new process innovation.
 
#*[[Restraining force]].  A force that hinders movement from the existing equilibrium ([[Kurt Lewin]]).
 
#*[[Restraining force]].  A force that hinders movement from the existing equilibrium ([[Kurt Lewin]]).
 +
#'''[[Enterprise portfolio]]'''. A collection of all [[business]]es in which a particular [[organization]] is.
 +
#*[[Startup business]] (or, simply, [[startup]]). A [[business]] in its search of its [[business model]] or its ways of making money.
 +
#*[[Ongoing business]]. A [[business]] that executes its [[business model]] in order to make money.
 
#'''[[Portfolio feasibility]]'''.
 
#'''[[Portfolio feasibility]]'''.
 
#*[[Business strategy]]. The formulation of how an [[organization]] is going to compete in a particular [[business]]. This formulation may or may not include (a) what products, (c) resulted from what production, (d) at what price, (e) using what presentation, (f) on what market, (g) with what people, (h) with what level of organization's support this organization is going to offer, as well as (i) what financial results and/or competitors' actions would trigger what changes in those decisions. Rarely, a mature organization formulates just one [[business strategy]]; usually, there are several [[Business strategy|business strategi]]es in the organization's [[enterprise portfolio]] since both/either different divisions may have their own [[business strategy|business strategi]]es and/or different [[business strategy|business strategi]]es are developed for different [[product]]s, regions, and/or segments of customers.
 
#*[[Business strategy]]. The formulation of how an [[organization]] is going to compete in a particular [[business]]. This formulation may or may not include (a) what products, (c) resulted from what production, (d) at what price, (e) using what presentation, (f) on what market, (g) with what people, (h) with what level of organization's support this organization is going to offer, as well as (i) what financial results and/or competitors' actions would trigger what changes in those decisions. Rarely, a mature organization formulates just one [[business strategy]]; usually, there are several [[Business strategy|business strategi]]es in the organization's [[enterprise portfolio]] since both/either different divisions may have their own [[business strategy|business strategi]]es and/or different [[business strategy|business strategi]]es are developed for different [[product]]s, regions, and/or segments of customers.
 
#*[[Organization]]. A consciously coordinated social unit, composed of two or more [[legal entity|legal entiti]]es, that functions on a relatively continuous basis to achieve a common goal or set of goals.
 
#*[[Organization]]. A consciously coordinated social unit, composed of two or more [[legal entity|legal entiti]]es, that functions on a relatively continuous basis to achieve a common goal or set of goals.
#'''[[Enterprise portfolio]]'''. A collection of all [[business]]es in which a particular [[organization]] is.
 
#*[[Startup business]] (or, simply, [[startup]]). A [[business]] in its search of its [[business model]] or its ways of making money.
 
#*[[Ongoing business]]. A [[business]] that executes its [[business model]] in order to make money.
 
  
 
===Methods===
 
===Methods===

Revision as of 16:43, 21 March 2018

Feasibility Study Quarter (hereinafter, the Quarter) is the first of four lectures of Operations Quadrivium (hereinafter, the Quadrivium):

The Quadrivium is the first of seven modules of Septem Artes Administrativi, which is a course designed to introduce its learners to general concepts in business administration, management, and organizational behavior.


Outline

The predecessor lecture is Idea Generation Quarter.

Concepts

  1. Feasibility study. In enterprise administration, an assessment of the practical potential of a proposed change. Depending on the nature of the change and the complexity of its development, this assessment may consist of one or more evaluations. If the change development is a single project, a cost-benefit analysis may be needed. If the change refers to the enterprise portfolio, another evaluation, portfolio feasibility, is needed. A feasibility study is feasible itself when a business opportunity is its change stimulus. If its change stimulus is a business need, no feasibility study is needed; business analysis is conducted instead.
    • Change. In enterprise administration, the act or instance of becoming different and/or doing business differently.
    • Organizational change. Creation and/or creative alteration of how the organization conducts its overall business and/or what it offers to its stakeholders. The change can include its enterprise portfolio, organizational structure, people, work environment, technology, etc.
    • Business strategy change. Creation and/or creative alternation of a business strategy. This change may include the product that is offered on the market, its scope or features, pricing, presentations, production personnel, and/or way of production usually in order to (a) offer new and/or additional benefits to the customer and/or (b) serve some organizational needs.
    • Planned change. Change activities that are intentional and goal oriented.
    • Unexpected change. Change activities that are unintentional and not necessarily goal oriented.
  2. Cost-benefit analysis. A set of studies of the difference between the change benefit estimate, which is what the enterprise is going to obtain, and change cost estimate, which is what the enterprise is going to lose, is the primary target of the feasibility study if the proposed change is a project.
  3. Market analysis.
  4. Enterprise portfolio. A collection of all businesses in which a particular organization is.
  5. Portfolio feasibility.
    • Business strategy. The formulation of how an organization is going to compete in a particular business. This formulation may or may not include (a) what products, (c) resulted from what production, (d) at what price, (e) using what presentation, (f) on what market, (g) with what people, (h) with what level of organization's support this organization is going to offer, as well as (i) what financial results and/or competitors' actions would trigger what changes in those decisions. Rarely, a mature organization formulates just one business strategy; usually, there are several business strategies in the organization's enterprise portfolio since both/either different divisions may have their own business strategies and/or different business strategies are developed for different products, regions, and/or segments of customers.
    • Organization. A consciously coordinated social unit, composed of two or more legal entities, that functions on a relatively continuous basis to achieve a common goal or set of goals.

Methods

  1. Duration estimate techniques.
    • Precedence diagramming method (PDM). A network diagramming technique in which activities are represented by boxes (or nodes). Activities are linked by precedence relationships to show the sequence in which the activities are to be performed.
    • Critical Path Method (CPM). A network analysis technique used to predict project duration by analyzing which sequence of activities (which path) has the least amount of scheduling flexibility (the least amount of float). Early dates are calculated by means of a forward pass, using a specified start date. Late dates are calculated by means of a backward pass, starting from a specified completion date (usually the forward pass' calculated project early finish date).
    • Program Evaluation and Review Technique (PERT). An event-oriented network analysis technique used to estimate program duration when there is uncertainty in the individual activity duration estimates. PERT applies the critical path method using durations that are computed by a weighted average of optimistic, pessimistic, and most likely duration estimates. PERT computes the standard deviation of the completion date from those of the path's activity durations. Also known as the Method of Moments Analysis.
    • Assumptions analysis. A technique that explores the assumptions' accuracy and identifies risks to the project from inaccuracy, inconsistency, or incompleteness of assumptions.
    • Proof of concept.
    • Idea evaluation. The process of creative behavior involving the evaluation of potential solutions to problems to identify the best one.
    • Pairwise Comparison: Organizations will put up ideas right next to one another and ask which idea is preferred? This generates a ranking system for an entire list of ideas with the most commonly chosen ideas appearing on top and the least selected at the bottom.
    • Funding: Most people are familiar with getting budget from within their company, but crowdfunding is another way to validate ideas. A great example is, of course, the Kickstarter model which not only empowers individuals to collect money for their ideas, it also validates that there’s an audience for their idea in the first place.
    • the five star assessment, idea scoring, ROI analysis.
    • Pass/Fail: Pass/fail is pretty easy. Ideas must meet specific required criteria in order to be considered and/or move forward in the selection process.
    • Anonymous voting

Instruments

    • Bar chart. A graphic display of schedule-related information. In the typical bar chart, activities or other project elements are listed down the left side of the chart, dates are shown across the top, and activity durations are shown as date-placed horizontal bars. Also called a Gantt chart.
    • SWOT analysis. An analysis of the organization's strengths, weaknesses, opportunities, and threats.
    • Strength. Any activity the organization does well or its unique resource.
    • Weakness. An activity the organization does not do well or a resource it needs but does not possess.
    • Opportunity. A positive trend in the external environment.
    • Threat. A negative trend in the external environment.
    • BCG matrix. A strategy tool that guides resource allocation decisions on the basis of market share and growth rate of strategic business units.
    • Strategic business unit. A single independent business of an organization that formulates its own competitive strategy.
    • Porter's Five Forces.
    • Pros and cons table.

Practices

The successor lecture is Business Modeling Quarter.

Materials

Recorded audio

Recorded video

Live sessions

Texts and graphics

See also