BUS 516 Entrepeurship Assignment--Leading Venture to Success

Execution is a process to turn business plan into reality. In order to make our "Le Cafe de Chocolate Lounge" to be in full operation level, here is the process we need to go through.
1. Find Location--look for a right place to rent and within our budget
2. Reconstruction--hire interior designer and contractors to make proper arrangement, repair and decorations.
3. Look for furniture and installments--estimate the expenses and minimize the costs.
4. Recruitment of employees--recruit good employees and offer training.
5. Prepare for the opening day and make sure the first day operation goes as smoothly as possible--first impression is very important for a business.

To become a well known market leader, we need to provide unique products and service to our customers. To have a success business, it is very important to maintain good relationship with customers by keeping our promise to offer the most comfortable environment and service for customers to study, chat and relax. We will continue to create new products and bring new ideas.

Being a success market leader, our management team need to have good control of internal tasks, adaptive to change to meet new opportunities and competitive challenges, good coordination skills, offer employees training and recruitment.

We will always keep our promise to customers with our mission statement--" Establish a remarkable product and service that would make our customers always come back for more of our exclusive product and atmosphere to study in or looking for fun."

BUS 600 Foundation of Business Management Assignment Strategy 3~6 ideas

The value chain for Chocolate lounge industry looks like this:
Cocoa tree--->Cocoa beans-->Chocolate liquor-->Distribution-->Chocolate drinks-->Chocolate cake-->chocolate related products-->customers

Mission Statement--Establish a remarkable product and service that would make our customers always come back for more of our exclusive product and atmosphere to study in or looking for fun.

BUS 600 Foundation of Business Management Assignment Economics 3~6 ideas

Economics is about supply and demand, trade, production, consumption of goods and service.
Microeconomics deals with individuals, companies or industries. For instance, it talks about costs, revenue, pricing, supply and demand. How the company use the market structure and right price to meet demand at an equilibrium point to make profit.
Macroeconomics is to understand the whole economy functions such as GDP, unemployment rate, investment of the nations. Keynes thought that government intervention can help economic growth and reach full employment. Monetarists believe that free market economics are best in the long run even the unemployment rate is high.
Balance of payments is the nations keep on track with their international transactions. And it shows the changes of foreign exchange for a period of time. To predict world currencies and see which country's currency is worth than another. There are four factors: paying goods and services--trading demands for currency, higher interest rates for investors to purchase of bonds, political situation, and economic reasons.
Country analysis can predict a country's future. There are some steps to follow such as a country's trade and low unemployment rate, increase GNP, steady interest rate and consumption, birth rate and population growth, country's productivity, policies of monetary, and leader's vision.

BUS 600 Foundation of Business Management Assignment--Operations 3~6 ideas

There are some theories are mentioned in Operations history. For instance, Frederick Taylor using science and number research to find the most production method is that it is management's responsibility to control and push the lazy worker to perform and be efficient. Elton Mayo thought employee perform better by monitoring.

Theory X believe that should control people as detail as possible which is tight control of employees.
Theory Y believe that workers are self motivated given a supportive work environment which is empower the employees.
Theory Z believe every employee is part of a consensual decision making process which is depend on the nature of task and when workers feel like partners in the business they become more productive and perform better.

To produce a product or service, the six M's of capacity are important. For instance, what is the best and most efficient method to produce a product? the material is available and in good quality. well trained productive workers, reliable machines, enough money to run or invest for production, and system to share information.

The reason to have inventory is inventory on hand to reduce the cost and production delay or any unpredictable conditions such as supplier increase price, uncertain production demands.

Mass customization is the new technology and integration to produce a product with low cost of modern mass production.

BUS 600 Foundation of Business Management Assignment--Finance 3~6 ideas

Finance is about money investment and financial management. Investments include risk and return, stock, bond, options markets. Beta stock usually use in short term investment and tells us the market movement and individual stock or portfolio movement. For example, beta below 1 usually are traditional industry such as oil company and it is lower return and risk. However, beta above 1 usually are high tech company or bank corporations and it is high risk and return and it all relate to the economic situation. Bond market usually issued by government or corporations and the interest rate is higher than the bank saving and low risk. It is for long term investment.

Financial management has two functions--business investment decisions and financing decisions.
Investment activity is capital budgeting which is to evaluate and analyze the investment project will make most return in a period of time. For instance, the method include NPV, payback period.
Financing decisions are about to determine which project for long term can finance the investment with equity or debt, whether or when issue dividends. For short term is to see how to manage cash and inventory.
Finance plan can help individual, company and government to manage money and investment.

BUS 516 Entrepeurship Assignment--"Le Cafe de Chocolate Lounge" Position statement

*Positioning statement for "Le Cafe de Chocolate Lounge"
--For women, students, profession and upper class adults.
--Who need a lounge atmosphere place for social network, business meeting, study and relax.
--Chocolate fondue, dessert, beverage.
--comfy furniture, intimate space, wireless internet service, and expand circle of friends.
*Differentiation
--Unlike Starbucks
--Our product is unique and most organic.

BUS 600 Foundation of Business Management Assignment----Quantitative Analysis Tools

Quantitative analysis theories to solve business problems and use numerical values in decision making to predict real world events. For instance, more data to get great returns in increased revenues, improved profits, and better understanding of the decision at hand.
Decision tree analysis is the most systematic tools of decision making theory and practice. Decision tree diagrams include activity forks and event forks. For example, "Le Cafe de Chocolate Lounge", the decision whether to hire consulting survey service to find out the possibility of chocolate lounge business or not hire survey service is the activity fork. The different alternatives such as are percentage s subject to uncertainty, that is an event fork.
Cash flow analysis is a technique to evaluate individual projects over the life of the project. For example, fast inventory turnover days will generate higher cash flow. NPV analysis takes cash flows and discounts them to their present-day value.
Statistical analysis solution
http://www.statisticssolutions.com/methods-chapter/statistical-data-analysis/statistical-analysis/

Data analysis software

http://www.fileguru.com/downloads/qualitative_data_analysis_software

BUS 516 Entrepeurship Assignment Chap 7----Business Plan "Le Cafe de Chocolate Lounge"

Le Cafe de Chocolate Lounge Business Plan

1. Opportunity and Market Analysis:
Coffee shop is everywhere,and it is very convenience. However, coffee shop is lack of cozy, intimate, and luxurious atmosphere. Savvy customers are looking for new, healthy, more unique treats to enjoy,an environment with superior service where customers can enjoy themselves and socialize. Fashion is always on the move. Chocolate themed and lounge atmosphere is a new concept. Customers will have the opportunities to enjoy healthy and quality chocolate in different ways 365 days a year. Our target customers mainly are women. During the daytime our market is focus on students, business professionals and local residents. At night, our chocolate lounge transform into night pub to attract upper-middle class customers. Chocolate lounge is new concept to the area. Right now there is only chocolate boutiques around.

2. Product Development and Operations:
"Le Cafe de Chocolate Lounge" is designed with comfy sofas,oil painting on the wall, pleasant music, books and magazines, and wireless internet. We offer brunch,afternoon tea,fondue,french sipping chocolate,pastries,and cocktails at night. We run a green, local, and mostly organic operation. we cooperate with our local farmers and producers to make our products fresh and healthy. Our chocolate lounge has good differentiation from others. Our unique chocolate lounge atmosphere brings customers here for social,network,relax, enjoy the finest ingredients day and night.

3. Solution and Concept:
Establish a remarkable product that would make our customers always come back for more of our exclusive product and atmosphere to study in or looking for fun. We offer our products with best quality with reasonable price.

4. Marketing and Sales:
For students--we offer cozy environment for customers to study,surf internet,and social. We provide healthy products and special discounts.

5. Risks:
The chain coffee shop may start to offer some chocolate products and upgrade their shop to lounge atmosphere style.

BUS 600 Foundation of Business Management assignment --Analyze Apple Inc. Financial Statement

In accounting there are three reports--balance sheet, income statement and cash flows. Those three reports tell us how the company is doing, making profit or loss and how the company is doing for its cash activities. Moreover, financial ratios tell us how healthy the company is.
According to Apple's balance sheet, for instance, Apple's current assets which is expected to convert to cash within one year including cash, short-term investments, accounts receivable--Apple provides the service to customers, but not receive the payments. Apple's inventories has $545 millions on June 28,2008 and is expected to sell the inventories for cash within one year. Deferred tax assets is an account prepaid tax which suppose to pay later day. Noncurrent assets include fixed assets used to operate the business but that are not for sale, such as property, plant and equipment. Goodwill typically reflects the value of intangible assets such as a strong brand name, good customer relations and good employee relations. Intangible assets include trademarks, copyrights and patents. Liabilities include current liabilities such as Apple's account payable has $3,683 millions on June 28, 2008 that has to pay to suppliers. Accrued expenses refers to an expense that has been incurred but not yet paid. Examples of accrued expense items might be interest,wages, and taxes. Shareholders' equity include Preferred stock, common stock, additional paid-in-capital, retained earnings, and treasury stock. For instance, Apple has retained earnings $12.7 billion on June 28,2008. It has over 1.5 times that amount in shareholders' equity ($19.6 billion). Therefore, the company is using shareholder's money effectively.
Apple's statements of operations which is income statement shows that net sales/Revenues earned by the company when it sells its products. Cost of sales/COGS is the costs that go into creating the products that a company sells. Revenues minus COGS can calculate a company's gross margin. Then, deducted expenses such as R&D, selling, and administrative plus other income and minus income taxes to get net income.
Apple's statements of cash flows include operating activities which changes made in cash, account receivable,depreciation,inventory and account payable are reflected in cash from operations. Changes in equipment, assets or investments relate to cash from investing. Usually cash changes from investing are a "cash out" item, because cash is used to buy new equipment, property, plant or short-term investments. Financing activities reports the issuance and repurchase of the company's own bonds and stock and the payment of dividends.

Apple Inc. margins of sales in 2007 gross margin was 33.97% and in 2008 was 34.31%. Profitability in 2007 net margin was 14.56% and in 2008 was 14.88%, return on assets in 2007 was 16.43% and in 2008 was 14.89%, return on equity in 2007 was 28.52% and in 2008 was 27.19%, inventory turnover in 2007 was 51.47% and in 2008 was 49.90%. Therefore, in 2008, Apple might require a large investments and in a product transition. Inventory turnover rate was lower than previous year which was good and healthy. Quick ratio and current ratio gave a sense of how readily the company could cover current obligations if the sales were to stop. Higher ratios indicate greater liquidity. For instance, Apple had 2.43 quick ratio and 2.46 current ratio in 2008. The financial statements and ratios show Apple Inc. is a very healthy and stable company. It is a good company for invest.

BUS 600 Foundation of Business Management Assignment Chap 4 Ideas

Organizational behavior is about to deal with human challenges in the company. For instance, how manager handle problems between people, groups and organization. In my workplace, it is all about team works. In each classroom, there are two teachers and they share jobs. Therefore, in order to achieve high performance team, teachers must communicate,cooperate,coordinate and be responsible to the jobs.
My director she has a vision of making a good team works between teachers. she is the person who always standing in subordinate-centered position. Her management skill is that she assigns tasks to the experienced teacher to lead inexperienced teachers. Therefore, even she is off, the school still can run unsupervised and normalized.
After eight years experience in teaching, i started inexperienced and i learned so many techniques and teaching skills from experienced teacher. Now, i am the senior teacher in this school. During these years, i have worked with many inexperienced teachers and trained them to be capable to conduct the classroom. For instance, with teachers who were aggressive to learn, i would set the goals high for them to achieve. I remembered one of the teachers, she was very competitive and fast-paced approach to work. And these type A behaviors lead her to a successful career in her future business.
How other people will characterize me as a leader?
From my coworkers perspectives,my characterized as a leader include:
a. Always think before take action on a project and complete the project on time.
b. help coworkers on tasks.
c. most of the time standing on subordinate-centered position
d. give a lot of freedom and space for coworkers.
e. active listening
f. balance reprimands with praise
g. successfully assigned and coordinated tasks to coworkers.
h. always focus on coworkers strength, but not weakness.
i. be a follower and give coworkers opportunities to lead on a project.
Employees are the most important resources to a company. Therefore, the company and managers must pay more attention to the attitudes and satisfaction levels of their employees.

BUS 516 Entrepeurship Assignment 1 Business idea and Reflection on Chap 3&4

I would like to open a chocolate lounge "Le Cafe de Chocolate".
What is my mantra? --It is a unique chocolate lounge provides an intimate environment for customers to relax, build social network,and enjoy the first time healthy and nutritious characteristics of chocolate through savory recipes.
Our Vision--We believe that using organic methods of production is the right thing to do and we use organically produced foods to reflect the true taste of great chocolate.
Our Mission--Establish "Chocolate Lounge" is the lounge where our customers can enjoy their quality time with friends and families while tasting our quality and beauty chocolate products.
We will continue enhance by using organic method of production by creating local relationship with our food producers to ensure "food security".
The Business Model--
a.Customer--Four Segments:students, professionals, women, middle to high class adults.
b. Value proposition:unique benefits--Organic chocolate products to give our served customers the greatest value for an appropriate price
c. Differentiation and control:On-line or phone reservations, organic products, special events, best service and customer relationships
d. Scope of product and activities--Narrow:Only in San Jose and strong local market suppliers
e. Organizational design:Control costs
f. Value capture for profit:Requires high occupancy
g. Value for talent:High returns, good career, Franchise
The competitive advantage--we are required to supply unique environment by transforming the nature between day and night , provide best quality of organic and homemade products, and great relationship with our value customers.
SWOT Analysis--
a. Strengths-new idea to the market, successful experience in other countries,high quality products with reasonable price, diversity customers.
b. Weakness-too many competitors, limitation of target customers,possibility of failure in chocolate lounge business,extra cost on employees.
c. Opportunities-expansion the unique chocolate lounge worldwide, growing entertainment market.
d. Threats--bad economic situation,bad first impression,competitors copying the idea.
The Strategy--
a. Creativity and invention: have customers create new items, extend our customer service such as fondue to go.
b. Advertising

BUS 600 Foundation of Business Management Assignment Chap 2&3 ideas

Making ethical choices is sometimes the hardest thing, especially when the choices decide either your business toward success or fail.
There are two major topics in the ethic curriculum:relativism and stakeholder analysis.
Relativism proposes that ethics are relative to the personal, social, and cultural circumstances.
1. Naive relativism--Business practices like sourcing of materials. For example, take company's stationary to home and use it.
2. Role relativism--distinguishes between our private selves and our public roles. For instance, tobacco industry knows smoking is harmful, however, they still sale products to make profit.
3. Social relativism--Labor related issues like gender discrimination at workplace, employee harassment,working conditions and child labor,forcing labor to work at below average salary.
4. Cultural relativism--In some countries, bribing powerful officials in order to get bids and tenders accepted and bribing competitor employees to get informational leaks is a serious ethical issue in business. In fact, it is a crime that is legally punishable in most countries today.
Stakeholder analysis ought to determine each of the affected parties' rights and responsibilities, evaluation of all the harms and benefits. The relationships among the many and varied stakeholders that have roles in business situations. These stakeholders include the market and non-market entities that affect a business. Ethical issues must be addressed by individuals, groups, corporations, and even nations in very different ways, and the consequences differ with each person or group involved.

Accounting
The purpose of accounting is to record all the activities will have impact the organization financially. To know a company, we need to understand three major financial statements:
1. Balance Sheet: The balance sheet basically record yearly assets, liabilities,and equity. It gives an idea of the financing structure of the company. It is the statement to look for company's assets.
2. Income statement: to see a company makes profit or not. it shows the flow of activity and transactions over a specific period. it maybe a month, a quarter or a year.
3. Cash Flow: to see a company's cash move to avoid liquidity problems. For instance, if a company has a lot of cash, then its liquidity is strong.
Accounting is to analysis yearly financial status in order to help board of directors to make decisions for investment and tax purpose.

BUS 600 Foundation of Business Management Assignment 2----What are my competitors doing?

I have chosen two of Chocolate Lounge Competitors. One is "French Broad Chocolates", another is "Anna Shea Chocolates".
*French Broad Chocolates Lounge's marketing material includes:
1. Today's special-At the Chocolate Lounge, we feature daily specials on fine wines, local craft beers, cheesecakes and more.
2. Music and Events-we have events calendar for customers to check for any coming events in every month. For instance, Art+Chocolate event. Also, we have Cupcakes for a Cure. French Broad Chocolates was proud to take party in Cupcakes for a Cure at the Grove Park Inn.
3. Website--http://frenchbroadchocolates.com/chocolate-lounge/
4. Email-- info@frenchbroadchocolates.com
5. Press--"Will Obama visit the lounge?" http://frenchbroadchocolates.com/press/
*Anna Shea Chocolates Lounge's marketing material includes:
1. Upcoming Events--This month special drinks, offer 10% coupon.
2. Service--fall and Halloween confections. For instance, provide chocolate to restaurants,hotels,catering companies and wholesale markets.
3. Website--http://www.annasheachocolates.com/ourlounge.php
4. Contact,Blog and Customer service
5. Press--"Chocolate to Charity"
After knowing my competitors marketing activities, i think my competitors have many good ideas to promote their Lounge and products, so people will have the interests to get to know more about my competitors lounge. Furthermore, i like the idea of helping others which is part of margin goes to charity.

BUS 600 Foundation of Business Management ---Chapter 1 ideas

Talking about business, marketing coordinates all the works and activities of a business. For example, come up new ideas of the product or program, find out customers needs, how many competitors, best price to sale, getting appropriate value in return, advertising and promotion of the product, public relations and customer service and satisfaction.
In Chapter one, there are seven marketing strategy process which are very useful and practical for my Chocolate Lounge "Le Cafe de Chocolate"
1. Consumer Analysis--
a. we introduce a new idea "Chocolate Lounge" to the service industry and mainly all the products are made by chocolate.
b. The uniqueness of our chocolate lounge is that we will have a transforming nature between the day and the night.
c. In the day our target market is that we mainly serve students and business people conduct a meeting in calm atmosphere. In the night, Our lounge turn into high profile pub, we have live music and bring adults for social networking.
2. Marketing Analysis--
a. create unique chocolate based products,so the remarkable taste will be in people's mind.
b. to integrate chocolate into customers daily life.
c. establish an addictive product, so customers will always come back for the atmosphere and product.
3. SWOT competition analysis--
a. Strengths-new idea to the market, successful experience in other countries,high quality products with reasonable price, diversity customers.
b. Weakness-too many competitors, limitation of target customers,possibility of failure in chocolate lounge business,extra cost on employees.
c. Opportunities-expansion the unique chocolate lounge worldwide, growing entertainment market.
d. Threats--bad economic situation,bad first impression,competitors copying the idea.
4. Distribution Channels--
a. Supplier to the company-choose the finest and high quality of supplier, organic products, and homemade chocolate desserts.
b. Company to Customers-provide reservation service, build good relationship with customers, invite customers for upcoming events and promotions.
5. Marketing Mix (4P's)--
a. Products-hot and cold chocolate drinks, desserts, la fondue, world collection drinks.
b. Price-in the day, we offer high quality with reasonable price menu. In the night, our target customers are mainly middle to high class people, so the menu is different and the price is higher.
c. Place-our chocolate lounge is located at the luxury shopping center and busiest street. With comfortable couches, table and divided into sections.
d. Promotions-friends referral, "word of mouth", advertising, lady's night special.
6. Economic of my plan and revise--
a. calculate the costs, break even,and how long is the payback of my investment.
b. ask self questions and revise the plan.
A marketing plan helps to keep my business prepared and be realistic.

BUS 600 Foundation of Business Management Week 1 Assignment --My Business Vision

I would like to open a unique cafe lounge and it is called "Le Cafe de Chocolate". This cafe lounge is about 600~800 square feet and decorated with my oil painting art pieces on the wall, roses from my backyard on each table, cozy sofa, pleasant music from different countries, many books on the bookshelf and my collections brought from different countries.
This cafe lounge is located on the 2nd Floor of the building at Santana Row, San Jose. There is a great view of trees,blue sky and streets through windows. Enjoy the sunshine and the most delicious hand made organic Chocolate drinks,desserts and la fondue.
This Cafe lounge is partnership with two of my best friends. I am in charge with the sales and preparation of the supplies and decoration of the lounge. The other two friends are in charge of making the most delicious Chocolate desserts.
This unique cafe lounge is the place for customers to have fun, relax, chat, meet new friends and build network connections.

BUS 528 Project Management-----Chap 11 ideas

The most effective way of communication in the project is through meeting. Project team members need to know their responsibilities of the project with clear direction, coordination between team members in order to work together efficiently, keep up the status of the project, and know the decisions made by stakeholders. To make the project more productive and toward success, there are many meetings going on time to time. For instance, the kickoff meeting--bring all the stakeholders together and get to know each other and communicate for the project. The sponsor leads the meeting and introduce the customers, manager and team members. Then, the sponsor talks about the project's purpose and goal. Next, the project status meetings--regularly scheduled meetings which keep a project on track, present with facts, share information, identify problems,share solutions and make decisions. Moreover, status meetings usually are the only time the entire team gets together.
In a project, there might have some decisions do not need stakeholders approvals, so the project manager needs to separate changes into different catergories. For example, change thresholds--the lowest threshold does not affect cost and schedule, so the project team can approve. The second threshold affect cost, schedule or functionality, so it requries more formal approval. the last threshold will need higher level executives to decide because the changes are threaten the business care for the project. the configuration management prevents disasters happen and limiting the changes. Closeout reporting helps the whole team's reflections on the improvment and better communication for next time.
A project manager needs strong communication skills, coordination skills and people skills in order to make the project work smoothly, successfully and happily.

BUS 528 Project Management ----Chap 10 ideas

How to build a high-performance project team? This project team needs positive team environment and collaborative problem solving. A positive team environment is productive,respectful and honest. Also, it requires some elements which are the team's value--expectation of team memebers behavior, commitment to a goal--sponsor's support and devotion from team members, be able to listen--team members exchange ideas, and willing to listen and accept others suggestions and thoughts, manage meetings--held an effective meeting toward the goals. Collaborative problem solving project team is that team members need to learn how to work together to solve problems. therefore, it requires some abilities which are agree upon the problem-solving--team members have their specialties and they accept this process of problem solving, team memebers understand decision modes--decisions have been made by either project leaders or entire team, so team members should be able to adjust and follow through the decision, resolve conflict skills--accept and deal with conflicts in order to achieve the best decisions in the strong team relationship, improve performance through continuous learning--improve skills and performance by learning from both success and failure.
A project manager helps the team build a positive working environment daily and have team members work together to face problems and solve problems in order to make the project successful.

BUS 520 Organizational Behavior Reflection-Strengthen Others powerless,weak,insignificant

In 2002, I came to America with tour visa and tried to find a job here. Luckily, i found my current job in two month. I did the volunteer work for six months and then i became official employee. At the first two years, i was working very hard because i had no experience in this field. My lead teacher did not want to guide me or teach me. Moreover, she told me "you are on your own." I was so scared and did not know what to do. I told myself that i could not lose this job and there is no way out. At that time i felt so powerless and weak. Thanks to my boss, she noticed that i could not handle the classroom by myself and she hired an experienced teacher to support me. This experienced teacher was very resourceful and i learned many teaching techniques and conduct the classroom from her.

Another time i felt very powerless and weak moment was when the boss was doing the annual review with me. I told my boss if i could transfer to another position with less responsibilities. My boss told me "If you want that less responsible position, why should i hire you?" I was so down and speechless. Since then, i started to work harder and contributed my time in extend learning and prove myself that i can do better and meet my boss expectations. Now, i am a senior teacher and i think my boss is happy and appreciate my work.

BUS 520 Organizational Behavior Assignment Reflection--Strengthen Others(Powerful,strong and capable)

I was over protected by my parents for almost 20 years. At that time, i did not know anything even did not know how to go to post office and mailed a letter. I did not take things seriously and never set goals or make any plans for my future. I changed four jobs in one year. So, i decided to go abroad and studied. I have been in America almost 15 years, and i had been through ups and downs. I know i am a tough person and i want to fulfill my dream. Now, i have been working at the same job for eight years because i want to prove myself.

One famous leader--Carly Fiorina who was the CEO of HP, i read her book "Tough Choices", and she said on a speech:
"When people have stereotypes of what you can’t do, show them what you can do. When they have stereotypes of what you won’t do, show them what you will do. Every time you resist someone else’s smaller notion of who you really are, you test your courage and your endurance. Each time you endure, and stay true to yourself, you become stronger and better."

I really inspired by her speech because those words encourage me to prove my capability on my job. I accept every task my director gives to me and show how strong i am to accomplish the task. Moreover, i show my endurance to my boss that i am a hard worker. I know every task can be achieved if i put efforts in it.
Not only for my job,but i believe once i set a goal i want to fulfill it. There is a lot of challenges and experiences in life,and every challenge and experience makes you become stronger and better person.

BUS 528 Project Management Assignment Chap 7,8&9 ideas

A project plan needs a step by step process and that includes all of the essential parts to accomplished on time. Most managers are only concerned about two things which are cost and deadline. To produce a realistic schedule there are five steps: step one, we create a work breakdown structure. step two, identify task relationships by using work packages. step three, bottom-up estimating--build a cost and schedule estimate for each work package. for example, cost estimates come from labor,equipment,materials,and fixed-price bids. step four, initial schedule by using the network diagram to determine the start and finish dates for each task. Gantt charts shows the schedule and the work breakdown structure. Time-scaled networks combines many tasks on one line. step five, assign and level resources by using limited people and equipment and raw materials. Realistic scheduling is to ensure timely and efficient completion of the project and it will require pre-planning, clearly communicated schedules and time-line milestones.

It takes time and effort to produce accurate estimates and there are different types of estimating techniques. Phased estimating breaks down the full product life cycle into phases. Only look at one phase at a time and allows the project to be directed by many small, informed decisions. Apportioning--top-down estimating use work breakdown structure start with a total project estimate 100%, then assigns a percentage of that total to each of the phases and tasks. Parametric estimating use statistic of the relationship between historical data and other variables such as square footage. Bottom-up estimating is the most accurate, estimate cost and duration of the lowest level tasks then roll up low-level estimates to determine project cost and schedule. Use estimates techniques to scope, plan and constrain the project conditions can reduce the risks and increase the success of the project rate.

Balancing should be part of the every project definition and planning activity, and involves reconsidering the balance between the cost, schedule, and quality of the product. Sometimes we have to make changes to keep project on track for its original cost, schedule and quality objectives. If it can't meet the goal, then we have to reexamined these three factors. If both are balance, but the firm has to choose which project to go to, then it will be out of manager's authority and will become enterprise level which might be government agency. There are so many ways to balancing at project level such as re-estimate the project,moving people to critical path, add people to project to reduce the schedule, increase productivity by using experts inside or outside the firm, take some parts of project out and give it to outside firm to manage it and work overtime. If the cost-schedule-quality still can't be achieved. we have to re-evaluated the business care of the project. For example, we reduce the scope, reduce profit margin. The project must aware of the realistic expectations and balance the project scope to avoid cost,schedule, and quality constraints.

BUS 528 Project Management assignment--Ch5&Ch6 Ideas

Risk management is a business process for a business to manage uncertainty risk and reduce the possibility of a financial loss. Apply the risk management techniques help the project reduce risk and has a probability and a positive impact.
First, organizations must identify risks,getting information interviewing, learning from past project, investigating what happen on similar project in the past and evaluating cost and schedule. Known unknowns--know there's potential risks will damage the project and prepare for it. For example,overrun costs,not accurate analysis,unreliable team members,and inefficient manager. unknown unknowns--unexpected risks always happens. For instance, nature disaster. Second, analyze, record the result of the risks and deal with the high impact and high probability first. Third, develop best way to reduce risks. For instance, accepting, avoiding, monitor the risk, predict plans, transfer the risk which is to purchase insurance or use a contract for service,and work had to reduce the risk. Forth, set up contingency and reserve which is prepare additional contingency budget and is used only for overrun costs. Fifth, constant aware of the existing risk and check for new risks at regular basis, continuously eliminate risks before they become problems.
Risk management allows you to examine the risks that you or your organization face
and decide what actions to take in order to reduce the risks and prevent crisis.

The work breakdown structure is the tool for breaking down a project into small parts of tasks called work packages. This tool gives each part of project a different priority and matches its level of importance to its place for each project piece. WBS is the foundation of project planning. The purpose of WBS is the help the project more accurate,specific defined and organize the scope of the total project. Also, WBS helps to monitor,assign responsibilities,control budget,quality control,scheduling and resource allocate the project. So, the project team will have the clear idea of what has to be accomplished within each deliverable. It is very important to keep WBS as simple as possible.

BUS 520--Organizational Behavior--the leadership challenge assignment (leader you admire)

Kaifu lee,he is one of the most outstanding figures in the Chinese internet sector. He was the founding president of Google China, serving from July, 2005 through September 4, 2009. I had read his book "Becoming 21st Century Talent" and some of the thoughts really inspired me. There are some key points i really like in this book.

He said "Value honesty beyond all things." "Honesty is the foundation of all things."
There is old saying "Before you act,you must behave accordingly."

He said "Success is not dependent on materials,nor by comparison with others. But understand self and seek for goals and interests. Pursue improvement and make life meaningful."

He said "The purpose of success is to bring happiness. Happy people tend to have more potential,efficient,creative and executive. Happy people have positive thinking and willing to help others."

He said "Ideal is the lighthouse of your life. If you don't have ideal,then you don't have direction. If you don't have direction, you don't have fullness life."

He mentioned, a successful organization must included some important components which are great team work,hard work,professional knowledge and know how to cooperate with others.

The secret toward success in an organization, the most important element is to have a powerful leader who is humbly listen to suggestions and willing to admit mistakes.

Finally, Becoming a 21st century leader, it is not just strategies and executives, but know how to put the employees and organization at first. Moreover, create an open,comfortable,and parallel environment for employees to show their potential and talent.

I like Kai Fu Lee's ideas because he teaches people how to become talent and become a good leader. Everything goes to the basis which is honesty. Without honesty even though people have talent,creativity,intelligent and ambition, eventually will fall apart.

BUS 528 Project Management Assignment Ch 4 ideas

Project success factors are agreement on goals,a plan, good communication, scope control, and management support. A successful project is to meet stakeholders' expectations,the project rules are the foundation.
Project rule one is documented agreements-- all the stakeholders must agree on the goals and guidelines of the project. So project manager begin to have everything down on paper before the project begin.
Project rule two is controlled scope--control requirements and maintain a narrow focus on the original objectives and be as specific as possible in order to avoid overruns schedules and budgets.
Project rule three is management support--a sponsor is always the important factor of a successful project. There are four methods to make sure everyone understands and agree to the project rules. first, the project charter is the starting point and identify the stakeholders,authority project manager and objective. It is the communications tool for the references through the project. Second, Statement of work--define the scope of work that required and the time it to be performed. For instance, it sets expectations, deliverable and what is acceptable. Third, the responsibility matrix--is a designed chart to show who is responsible for what? which is to use to clarify responsibilities roles in the task. Forth, the communication plan--for stakeholders to get information.
A successful project needs a well prepared foundations with project rules. And documentary everything for further information and support.

BUS528 project managment assignment Ch3 ideas

Define a project is a process of putting the ideas and perspectives together along with clearly defined
purpose--what is the reason for doing this project? Who wants it done and why? Goals--What is it we want to achieve? When do we want to achieve it? Benefits and scope--who will benefit?
In the project foundation stage, we need to know who will be the project stakeholders? We need to find the right influence people to accomplish the project. Project stakeholders include people who are interested in this project,actively involve in this project. For instance, project manager,project team,functional management,project sponsor,customers and people who make contribution and affected by the project.
For example, the project "build a green home--solar power", the stakeholders can be the government and customers want to see data that show the project is meeting goals to save energy bills and protect environment in the future.
To make the project not turn into failure, we need to clear well defined the project in order to gain stakeholders support and meet stakeholders expectations.

BUS 528-Project Management--Assignment Ch1&2 Summary

To make a project successful needs many elements to support it. For instance, manager's leadership skills, efficient team members,and project management training skills. A manager with leadership skills is an important factor toward a successful project. Moreover, if a manager with experiences on different projects achieve results better because he or she knows how to define the project clear and make clear goals to accomplish. Also, the manager knows to measure progress and see how far away to completion. In the good project management, a manager should have good people skills to communicate among customers and bring team members together and guide team members to keep the project on track. That is why project management is essential guidance to help not only leaders, managers but also team members to perform and to manage complex works better and run the project smoother.
How is the success defined in a project? There are three main points--meet customer requirements,under budget and on time. However, in the book, it mentioned that even though the project meets all the three points, it doesn't mean the project is successful because on customers point of view, they may think the project doesn't meet the requirements,over budget or late. Therefore, a manager should have control check with customers on each step the project goes to prevent project fail or disagreement on the project.
I like the three project management functions because it taught me how to manage a project step by step. Those three functions can apply to my "Green Homes" project. Now, i have clear idea of where to start my project with definition,planning and control.
In the organizing the projects, i like project-oriented organization better, because it is simple and clear. When there is a project comes up, the manager form the team by assign team members from different departments and work together. The team members contribute their specialties into the project and make the project runs more productive and efficient.
In my workplace, i have participate many projects. Those projects can be done by one or two members and they are very easy to achieved and accomplished. So, i don't really consider those are projects after i read the book and many classmates significant projects. I really want to challenge myself to make a real project with the knowledge i am going to learn from project management class.

BUS 528-project management assignment--my project

Going green and more green are the concepts of reducing our environmental impact. Taking care of our earth and reduce both global warming and climate change is our responsibility. It is important for all of us to understand our impacts and learn what we can do to live more green. The goal will be to redirect people's lifestyles toward saving energy, money and living in healthy green homes.
My project will be to build green homes with recycle nature resources, reuse materials,reduce house energy needs by using solar,wind,and water power.
According to SMART goals, i think it is obtainable for the following:
a. the project is clear defined and going green concept has been introduced in few years.
b. it is obtainable along with sponsors support.
c. it is possible to build the project team with experiences contractors,green home specialist,and builders.
d. it can be done within a period of time.
One thing which may not be easy to obtain is the budget. With the budget issue, the project need sponsors support.
In the reality, People are looking for healthy living environment, so traditional homes are going to be replaced by green homes. There are a lot of benefits living in Green homes and most of all we make our earth green and beautiful.

Green, more green

We need green, more green....How do we make our environment better and healthier? I'm v interested in this subject and would like to do more research on "Build Green Homes"....recycle, reuse and reduce....save our environment from where we live.....

BUS 528 Project Management Assignment --Why did you choose this class and what do you expect to learn?

Project management is the popular topic and is the current trend in all the fields. I always hear people working in all fields around me say "I am working on a project." or "I'm going on a business trip for a project." It sounds like we can define everything is a project. Therefore,that motivates me to learn about what project management is.

In this project management class,I would like to learn how SMART goals apply to real life situations,case study of project management in different field, examples of how manager manages a project from beginning to the end. Especially, I don't really understand about those tools--Gantt charts,CPM are used for.

I hope after taking this project management class, i will be able to do the project work in the real life situation and make the project management successful.

Introduction

Learning never end and the most important thing is the process of learning. I like to learn things in different fields, especially i have been working with children for almost eight years. I graduated from Oklahoma City University and received my Bachelor of Arts and master in education. I started to practice my learning by teaching English in language school in Taiwan. Then, I continuously teaching and have been working as a Kindergarten teacher and Toddler transition program teacher in Sunnyvale, CA since 2002. During this working period, I have learned to conduct a classroom, to organize class schedule, to do team works, to train new teachers, to communicate with parents, to plan and coordinate events and meeting with managers. Even though I am not working in business field, I think it is a great beginning experience for me to learn the problem-solving, management, communication and project management skills in this setting.

To study MBA has been one of my learning plan in my life,but due to my heavy works and fixed schedules i have not fulfill my dream until now. I choose CALMAT to continuous my education in MBA program because CALMAT offers flexible learning schedule and intensive study for me to finish my degree in my time frame. Also, CALMAT has concentration focus I would like to learn in management, financing and human resource. I hope I can learn communication, leadership and management skills through this MBA program in order to apply in real life situations.

This is my second semester here in CALMAT, i am so happy to be here because all of the classmates are friendly. They contribute thoughts,information, ideas and help others. This is a great learning environment. I am glad that I choose CALMAT for my advance study.

"C'est une belle vie"....It is a beautiful life.

comment ca va

it is quite a challenging project when you are going into a totally new subject or field.....