A great start

A great start Introduction A great start, a great motivation and great plans were some of the feeling I had when our Project Management lecture started. Project Management has also been one of the key areas I am interested in, because its field of application is both theoretical and practical. The program and the timeframe as well as the division in teams, made us start a process where a project had to be performed and proven. My experience was very positive. Personal learning statement According to a lecture delivered as part of our Project Management module, the fact that a Project is a unique set of coordinated activities, with a definite starting and finishing point, undertaken by an individual or organisation to meet specific performance objectives within defined schedule, cost and performance parameter, taking into account specific constraints such as time, resource, outcome and focus on the often changeable environment on which a project develops, keeping all time in mind the initial orientation of the project (Stratum 2009), set me and my team to perform and deliver a qualitative coursework and presentation for our Project Management lecture. Peer evaluation Conclusion References 7 Sep 2009 Group was formed during the first Project Management lecture to work on a group assignment, Coursework No.1: GROUP REPORT, credited 40%. Took part in Tower Game, a game designed to promote initial team spirit. Group came first as team with the highest tower builded., 14 Sep 2009 Started to work on coursework no.1 Select chapter 9 of the BOK: Project Organization: Structures and Teams as the chosen topic for the GROUP REPORT. Took Belbins Test and Meyer-Briggss Test to specify members straits and according role. 21 Sep 2009 Started to work on the PID (Project Initiation Document) Had the first official Project meeting Group member each was assigned to come up with his own version of the document and sent to Ruben for compilation. 28 Sep 2009 During Project Meeting, group discussed way to approach the Report. Group member each was assigned to explore an area of Teamwork, proposed tools to measure the effectiveness of Teamwork in that area and prepared to apply them into a real-life case study. 5 areas: Characteristics of a Team -Godfrey Life cycle of a Team -Saul Managing Personalities -Hermen Effective Teamwork -Pim Running Effective Meetings -Kenfi 5 Oct 2009 During Project Meeting, group discussed way to present the Report. Group member each was assigned to complete his area of Teamwork, proposed tools to measure the effectiveness of Teamwork in that area and to produce documents in the later week 12 Oct 2009 During this meeting we discussed planning, estimation and tracking. We created an initial relative estimation based on previous work done in the beginning of the project. After that we created a burndown and marked it with milestones. Then we created a second burndown on the milestones and saw that our average velocity was not enough to reach the first mayor milestone (presentation). We accordingly rearranged a couple of items so that the presentation deadline would not be in jeopardy This technique was borrowed from Agile/SCRUM. Work Breakdown Structure What it is: A work breakdown structure (WBS) is a process for defining the final and intermediate products of a project and their relationships. Generally, WBS uses a tree diagram/structure diagram to show the resolution of overall requirements into increasing levels of detail. WBS allows a team to accomplish its general requirements by partitioning a large task into smaller components and focusing on work that can be more easily accomplished. (See also Tree Diagram and Action Plan.) When to use it: A work breakdown structure is an essential element in project planning and project management. In the quality planning process, WBS begins with a generalized goal and then identifies progressively finer levels of actions needed to accomplish the goal. In the quality improvement process, the tool is especially useful for creating an implementation plan to remedy identified process problems. For WBS to accurately reflect the project, however, it is essential that the team using it have detailed understanding of the tasks required. How to use it: Identify the primary requirement or objective. This should be a clear item, based on customer requirements, to which the entire team agrees. Write this requirement at the top of the chart. Subdivide the requirement statement into major secondary categories. These branches should represent requirements, products, or activities that directly lead to the primary objective or that are directly required to fulfill the overall requirement. The team should continually ask, What is required to meet this condition?, What happens next?, and What needs to be addressed? Write the secondary categories below the primary requirement statement. Using sticky notes at this stage makes later changes easier to accomplish. Break each major heading into greater detail. As you move from top to bottom in the WBS, products and activities should become more and more specific. Stop the breakdown when each task is tiny enough to be easily completed and evaluated for accuracy. If the team does not have enough knowledge to continue at some point, identify the individuals who can supply the information and continue the breakdown later with those individuals present. Review the WBS for logic and completeness. Make sure that each subheading and path has a direct cause-and-effect relationship with the one before. Examine the paths to ensure that no obvious products or actions have been http://www.sandstone.co.uk/free-online-team-effectiveness-report/

Vip Ltd. Industry : Moulded Luggage

JV CAPITAL SERVICES PVT. LTD www. sharetrading. in VIP LTD. INDUSTRY : MOULDED LUGGAGE NSE Symbol : VIPIND CMP 115 RISK PROFILE: MEDIUM BUY TARGET 210 Key Data : 52 week H/L : Market Cap (Rs Cr. ) : Face Value : Beta : P/E : Div % : BV : PBV : (Source : Company) 294/32 314 10 0. 92 26 0. 87 48. 9 2. 3 VIP Industries is engaged in the travel product business. The Company operates in two business segments: luggage & accessories and furniture. The products manufactured by the Company includes plastic moulded suitcase, plastic moulded briefcase and vanity case.The Company’s portfolio of brands includes V. I. P. , Carlton, Delsey, Footloose, Alfa, Aristocrat and Skybags. The Company’s subsidiaries include Carlton Travel Goods Ltd. and Blow Plast Retail Ltd. INVESTMENT RATIONALE Despite the slowdown in the global trends of economy, the luggage markets performed flat. VIP Industries is the largest player in Indian luggage market. One of the large segment of Indian luggage mark et is the canteen Store Department (CSD). VIP luggage continues to enjoy a prominent position and is one of the most respected brands in CSD.Apart from the domestic market, the company also exports sizeable quantity of luggage to Europe & gulf and has presence in Africa & many other countries. With a view to expand and to access the international markets, the company during FY09 has set up a wholly owned subsidiary in UK. The company has also acquired the well known international luggage brand ‘CARLTON’. These developments are expected to augment export sales of the company significantly. The company has been focusing on creating exclusive outlets to increase market share.Share Holding Pattern (%): 35. 73 % 43. 44 % VALUATION: 12. 90 % 0. 97% 6. 96% Promoters DIIs Others FIIs corporates Relative Performance Analysis: SENSEX VIP IND We are cautiously optimistic for the moulded furniture segment of the company. In case of luggage segment the management of VIP is very posi tive. The product portfolio of the company has been widened by introducing new products which offers good growth prospects. In FY08, earnings of the company have decreased. Revenues reflect a decrease in income from operation.Net loss reflects higher administrative, selling and other expenses with increased extraordinary items expenses. Currently the company is trading at a P/E 14. 14x of CY09 EPS. Albeit the price earning ratio of the company is high, we maintain a ‘BUY’ on the stock as it is in an expansion mode with a promising business model. (Rs cr) Financial Summary Year Net Sales Total Expenses PAT EPS FY2005 FY2006 FY2007 FY2008 (Source : JVCS RESEARCH) 297 329 557 544 272 303 404 504 7. 27 7. 9 22 14 4. 73 4. 94 5. 20 6. 60 SEPTEMBER 02’2009 JV CAPITAL SERVICES VIP LTD. INDUSTRY PROFILEIndian Luggage industry is currently undergoing a consolidation phase. The luggage market comprises of three segments: the premium segment with 15% of total market share, the popular segment and the standard segment. VIP Industries is the most dominant player in the premium segment with a market share of 44% in popular segment The luggage market is dominated by the unorganized sector with 5% market share. Northern & western India are the biggest markets in the industry. The organized sector (8%) is growing at lesser pace when compared to the unorganized sector (25%) 50 200 150 100 50 0 I nde x e d Sa l e s Tr e nds BUSINESS UPDATES: In the moulded furniture segment, VIP industries enjoys a small market share, where the company has a huge potential to grow in this business. The company is now able to get the orders from Pune and is able to successfully execute the same in time. During the year, VIP industries has strengthened its distribution hold by significantly increasing its market presence through opening of new shops for Aristocrat & Alfa Brands across the countries. This will significantly contribute in the balance sheets of the company.J u n à ¢â‚¬â€œ 08 M a r – 08 D e c – 08 M a r – 09 S e p – 08 J u n – 09 FINANCIAL FORECAST: (Rs cr) Earning Estimates Particulars Mar ‘09 June’09 117 118 8. 5 3. 6 4. 30 -0. 3 1. 0 0. 34 205 172 32 4. 2 29. 9 5. 6 20. 1 7. 10 Sep’09E 112 102 11 4. 0 10 -. 7 4. 9 1. 6 Dec’09E 151 129 24 3. 0 25 4. 8 12. 8 5. 1 25 20 15 10 5 0 I nd e x e d Pr o fi t Tr e nds Net Sales Total Expenditure PBIDT Depreciation PBT 08 08 ar -0 -0 ar -0 n- p- D ec Ju M Se M Ju n- 09 -5 Tax PAT EPS (Source : JVCS RESEARCH) 8 20 10 0 8 9 †¢ 08 08 ar -0 -0 ar -0 n- p- D ec JuSe Ju n- 09 – 10 8 8 9 In Q1FY10, the company has posted a turnaround result for the quarter. Net profit for the quarter under review clocked at Rs20cr compared to Rs 1cr only. Healthy performance was due to spurted growth in operating profit by 640bps to 10. 4% % 33% fall in interest cost. During H1CY09, the company has launched school bags section priced range between Rs 3 00 & Rs 900 and it aims to sell 70000 bags by the end of FY10. The company is planning to expand its retail network in FY10 as the rentals have touched almost bottom.To grab the change in consumer trend, the company has launched two models with different ranges in hard luggage system. VIP has slashed prices following the decline in prices of raw materials. †¢ Operating Margin Net Margin M M JV CAPITAL SERVICES VIP LTD. OUTLOOK The luggage industry is expected to grow in the current scenario with the factors like: †¢ †¢ Improved travels on month on month basis, passengers carried by various domestic airlines grew by 27% Introduction of new lighter hard luggage with using polycarbonate as basic input. RISK & CONCERNSA major area of concern for the company is its dependence on China to produce most of the soft luggage. The recent changes in the economic scenario in the world along with the new labour regulations in China and the slowdown of production in China poses a mi x of opportunity in terms of reduction of rates but also the threat of rate increases. For hard luggage, the prices of major raw materials have come down in the last quarter thereby the company may get the cost advantage with more scope of better margins. RECOMMENDATION: Currently the stock is trading at a P/E of 14. 9x with an EPS of 8. 10, we maintain a buy on the stock. EPS for CY09 is expected to Rs 14. 19 as company returns back to profitability. Taking the historical P/E of 15x, we arrive at a price target of Rs 212 for a time horizon of 610 months. The price volume trend analysis depicts that the stock is moving in some strong hands. Increasing volumes by major institutional investors gives a clean picture of their keen interest in VIP Industries hence we expect the stock to give handsome returns of more than 80% in next 6 months. JV CAPITAL SERVICES VIP LTD.Research Desk Sajiv Dhawan Ashit Suri Sanjeev Kapoor Narendra Singh Rajeev Kumar Satyendra Singh Bijaya Swain General E nquiries Managing Director Head of Research Trading Desk Trading Desk Trading Desk Back Office Accounts Dept Tel: 011- 41654860 [email  protected] com [email  protected] com 011-41654860 011-41654861 011-41654862 [email  protected] com 011-41654874 / 75 [email  protected] com RISK PROFILE: Low Risk: Fundamentally Sound companies, with low beta. Expected market out-performance is 0—10% Medium Risk: Expected market out-performance is 10-20%.Preferably for the Investors with a maximum time frame of 6 months. High Risk: High Beta Stocks, expected market out-performance is more than 20%, Preferably for the investors willing to take advantage of market momentum and are aggressive in nature. Disclaimer Appendix This document has been prepared by the Research Desk of M/s JV Capital Services Pvt. Ltd and is meant for use of the recipient Ltd. only and is not for circulation. This document is not to be reported or copied or made available to others. It should not be considered to be taken as an offer to sell or a solicitation to support any security.The information contained herein is obtained and collated from sources believed reliable and we do not represent it as accurate or complete and it should not be relied upon as such. The opinion expressed or estimates made are as per the best judgment as applicable at that point of time and are subject to change without any notice. JVCS Pvt. Ltd. along with its associated companies/ officers/employees may or may not, have positions in, or support and sell securities referred to herein. Investors are advised to maintain strict stop loss. JV CAPITAL SERVICES

Classical and Humanist Management Theories Essay

â€Å"Classical and humanist management theories have had a major influenced on modern theories of leadership. Making effective use of appropriate models and theories critically examine whether this is actually the case. † Civilization is the product of those who came before us. The evolution of today’s modern management thinking has grown and developed since nineteenth century and flourished during twentieth. The twentieth century is just part of revolution management theory which started from classical theory, ranging to human relation approaches and last flourishing now. Management theory is out coming result of the interdisciplinary efforts of many people. Today the new modern theories of leadership, come up based on classical and humanist management theories, still develop and grow as an organisation. Leadership is setting a new path or vision for a cluster that they follow; a leader is the spearhead for that new direction. Management controls or directs people/resources in a group according to principles or values that have already been established. The main difference between them comes from what happen if there is one without another. If leadership comes without management then sets a track or visualization that others follow, without considering too much how the new direction is going to be achieved. Other people then have to work hard in the trail that is left behind, picking up the pieces and making it work. Management without leadership; controls resources to uphold the current situation or confirm things happen according to already-established plans. In Organizing Genius (Addison-Wesley, 1997) Bennis and Patricia Ward Biederman point out those leaders of great teams pick talent on the basis of excellence and ability to work with others. Good leaders are not afraid to hire people who know more than they do. Jack Welch has said that his biggest accomplishment has been finding great people. A leader should project responsibilities that involve a person’s competence and values. A good leader also reinforces motivation and develops ability through coaching. Leaders know how to keep their people focused. Good leaders can build incredible relationship and can build trust. The interest of leadership come in the early 20, when was considered that great leaders are born not made. The ideas and theories started developed after then. On the other hand those irreplaceable qualities of good leaders are based on beginning of management. The first management ideas, actually, were record in 3000-4000 B. C, when the pyramids were about to be build. Then the beginning of the modern organisation occurred with the theory called The Founders during the middle of the nineteenth century with the rise of the factory system. After came Pre-Classicism with Robert Owen (1771-1858) and Charles Babbage (1792-1871). And then the twentieth century becomes witness on the most memorable theories called Classical School. The Classical School of Management was period of management theory ferment and activity. It was based on improvement of management effectiveness in organisations. It wasn’t only about effectiveness in worker please but they also seek to provide needed tool for more effective work and satisfied workers. Within the classical school there are the bureaucratic management, administrative management and scientific management branches. The era of the ideas of Modern theories started with Scientific Management. Frederick Taylor put the beginning of the contemporary and still improving management. He advocated a change from the old system of personal management to a new system of scientific management. His theory argues that, each person’s job should be broken down into elements and a scientific way to perform each element should be determinate. Workers need to be careful selected and properly trained for particular job. The good corporation between management and workers is compulsory. His theory was accepted with many positive fatbacks and negativism as well. But to modern readers, he stands convicted by his own words (1975): â€Å"†¦ in almost all of the mechanic arts, the science which underlies each act of each workman is so great and amounts to so much that the workman who is best suited to actually doing the work is incapable of fully understanding this science, without the guidance and help of those who are working with him or over him, either through lack of education or through insufficient mental capacity. Scientific management come across with significant success. Taylor bring a success and to economic standpoints. Productivity met improvement because of his methods. After Scientific management come Human Relations Movement with Elton Mayo’s experiences in the Hawthorne Works Experiments. Mayo’s theory met success; his impacts were the creation of the industrial engineering. Max Weber – Bureaucracy come after Mayo’s scientific management. Max Weber believed that civilization was changing to pursue technically best outcomes at the outflow of emotional or humanistic content. Weber did not advocate bureaucracy; indeed, his writings show a strong caution for its excesses: â€Å"†¦the more fully realized, the more bureaucracy â€Å"depersonalizes† itself, i. e. , the more completely it succeeds in achieving the exclusion of love, hatred, and every purely personal, especially irrational and incalculable, feeling from the execution of official tasks† While Weber was basically a spectator rather than a stylish, it is pure that his forecasts have come true. His principles of an ideal bureaucracy still circle true today and many of the evils of today’s bureaucracies come from their different from those ideal principles. Unfortunately, Weber was also successful in predicting that bureaucracies would have extreme difficulties dealing with individual cases. It would have been captivating to realize how Weber would have combined Mayo’s results into his theories. It is probable that he would have seen the â€Å"group dynamics† as â€Å"noise† in the system, warning the bureaucracy’s potential for both efficiency and inhumanity. In 1970s and 1980s, Charismatic Leadership states Effective leaders inspire assistants to obligate themselves to goals by interactive a visualisation, exhibiting magnetic behaviour, and setting an influential individual case, described by Weber as long with bureaucracy. He put the development of leadership based on well-known management. Henri Fayol – Administration. Fayol’s administration theories dovetail into the bureaucratic superstructure described by Weber. He believed that management has five principle roles; to control, to organise, to forecast and plan, to command and to coordinate. Fayol developed fourteen principles of administration to go along with management’s five main roles. Fayol’s five principle roles of management are still actively practiced today. Development of management and leadership had continued with Frederick Herzberg (1923-) , Abraham Maslow (1908 – 1970) and on. Mary Parker Follett supported for a human relations importance equal to a mechanical or operational emphasis in management. Her work contrasted with the â€Å"scientific management† of Frederick W. Taylor (1856-1915) and evolved by Frank and Lillian Gilbert, which stressed time and motion studies. Apart of all that, in mid-1970th the Hersey–Blanchard situational leadership theory was introduced as â€Å"situational leadership theory†. It is a leadership theory conceived by Paul Hersey (professor) and Ken Blanchard (author). The theory argues active leadership is task-relevant and there is no solo best flair of leadership. The theory contained the following qualities as the main qualities of a good leader; telling, selling, participating and delegating. According to Hersey and Blanchard (1980); â€Å"Effective leaders need to be flexible, and must adapt themselves according to the situation†. They had separated their theory into two fundamental concepts; Leadership Style and the individual or group’s Maturity level. First described above and second describes below. The individual or group’s Maturity level: M1 – They absence the exact services vital for the work in pointer and are powerless and reluctant to do or to take duty for this job or task. M2 – They are still incapable to take on responsibility for the task being done; they are keen to work at the task. M3 – They are knowledgeable and talented to do the chore but nonexistence the poise to take on charge. M4 – They are experienced at the task, and relaxed with their own skill to do it well. They need to be clever and willing to not only do the task, but to take responsibility for them. In conclusion, management include and put the base on organisations, it is that organisation which makes functions, such as planning, budgeting, evaluating and facilitating. On the other hand leadership is a relationship, an essential part of an organisation. They are response for selecting talents, motivating, coaching and building trust. From Classical human approaches to the modern leader theory there were a big different, the theories will last to change and improve, but on based on the main management theories. It is clear that modern organizations are powerfully influenced by the theories of Taylor, Mayo, Weber and Fayol. Their principles have become such a solid part of modern management that it is hard to believe that these perceptions were unique and new at some opinion in history. The current idea that these impressions are â€Å"common sense† is strong compliment to these creators.

Essay about The Washington Monument - 4283 Words

The Washington Monument The Washington Monument, a memorial structure designed and constructed in the nineteenth century, signifies an important tribute to the prestigious role and achievements of our nation’s founding father. Ideas for such a monument first arose in 1783, by which time â€Å"the fame George Washington, Commanding General and first President of the United States, was assured in the pantheon of statesmen of the world† (1). It was during this year that the Continental Congress proposed an â€Å"equestrian statue† in honor of â€Å"Washington’s services and his unique role in the founding of the new Republic† (1). Despite the project’s popularity with the public, however, little action was taken following†¦show more content†¦Despite the difficulties that were faced during both the planning and construction of the Washington Monument, the impressive tributary obelisk still stands today as one of the nation’s â€Å"noblest architectural structures† (1). Prior to beginning construction in 1848, the government spent nearly seventy years in legislation. Shortly after it was decided in 1783 that an â€Å"equestrian statue† should be erected in honor of George Washington, a French landscape engineer by the name of Major Charles Pierre L’Enfant drew up the first plan for Washington’s future capital, including the statue as â€Å"one of the principal features of the Federal District† (1). The idea resurfaced after the death of George Washington in December of 1799, when a proposal made by U.S. Representative John Marshall suggested the erection of a marble monument under which the founder’s body would be deposited. But Congress could take no immediate action due to conflicting opinions in both the House and Senate and with Washington’s family members: when the House â€Å"appropriated $200, 000 for the construction of †¦ [a] ‘mausoleum of American granite and marble, in pyra midal form 100 feet square at the base and of proportionate height’† (1), the grant was opposed by the Senate and family members (who did not want to move the remains from the site where Washington had specifically asked they be placed). â€Å"Throughout the Nation there was a deep sense of disappointment over theShow MoreRelatedEssay on The Washington Monument991 Words   |  4 PagesThe Washington Monument The most stunning monument in our capital is the Washington Monument. At 555 feet high, it is the tallest such monument in the world. It is an obelisk by shape, yet not a true obelisk because it is not carved out of a single stone. The monument was built at intervals between 1848 and 1885. 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