The Strategic Verticals of Davivienda Assignment

The Strategic Verticals of Davivienda - Assignment Example The assignment "The Strategic Verticals of Davivienda" analyzes the existing issues regarding internal communication inefficiencies, lagging project duration for O&M department of Davivienda Bank by measuring each of mentioned problems and their impact on the operational efficiency of O&M department. External and internal environment scan in context to O&M department has been done by the researcher in order elaborate scope of the paper. The recommends strategies like implementation of virtual communication portal, enhancement in e-mail communication efficiency, establishment of department consisting of process specialist that would work with O&M department in integrated manner, providing communication training to O&M personnel, implementing ERP system within O&M department, conducting monthly cross-departmental meeting to top level management and CEO of Davivienda to improve overall competitiveness of O&M department. The recommendations should not only improve internal communication between O&M department but also work as strategic initiatives for Davivienda. Financial organizations like banks start their strategic planning from understanding the scope of the service offerings. Davivienda is a bank and it also focuses heavily on the service and product offerings. There is very little scopes exist for banks to standardize its product portfolio and service offerings rather banks need to adapt to changes in customer requirements and design product portfolio that can be relevant in changing business environment.... As the report is addressing to key people of the organization hence there is no point in putting company information in the report because it is expected that the key members of the organization such as CEO is completely aware of these information. In short, O&M department of the organization handles issues like coordinating with marketing department to perform operational initiatives, updating administrative reports regarding organizational hierarchy, preparing system manuals, preparing process reports for the entire administrative blocks in the bank. The O&M department works in close loop manner with operational verticals like Human Resources division, Audit section, Information Technology division and General Administration. Now, what is the objective of this paper? Well, to be precise, the report will suggest a strategic plan for O&M department and study will also review the strategic plans that have been discussed in the previous works and suggestion regarding implementation of contingency plans to mitigate the identified risks will also be important part of this paper. Backgrounds and Accomplishments Bouquet, Hebert & Delios (2004) pointed out that financial organization like banks start their strategic planning from understanding the scope of the service offerings. In similar context, Davivienda is a bank and it also focuses heavily on the service and product offerings while making strategic choices. According to Bouquet, Hebert & Delios (2004), there is very little scopes exist for banks to standardize its product portfolio and service offerings rather banks need to adapt to changes in customer requirements and design product portfolio that can be relevant in changing business environment. Roth and Menor

Time constrained assessment Essay Example | Topics and Well Written Essays - 1000 words

Time constrained assessment - Essay Example In economic terms the needs and wants of individuals, companies, organizations, and whole countries are transformed into demand. This law of society raises the basic economic problem, as all these needs and wants can be satisfied only to certain extent as the resources required for its satisfaction are limited. Scarcity occurs when people want more than can be satisfied with the resources they have (Wessels 2006 2). Therefore, in order to satisfy certain needs and wants people have to choose among alternative uses of their scarce resources, such, for example, as time or money (Wessels 2006, 1). However, the economics as a study embraces a broader picture of this issue, taking into consideration not only those who consume but also those who produce. In terms of this concept, there is naturally raised the whole set of questions, such as: what goods to produce, how to produce these goods, and for whom to produce it. These questions are known as Samuelson's three questions (Howarth 2013) and help to solve the problem of scarcity resources. What to produce? – Answer to this question helps people to decide the best combination of goods and services to meet their needs (Howarth 2013). ... For whom to produce? – This question makes people to decide who will get the output from the country’s economic activity, and how much they will get (Howarth 2013). For example, who will consume these grown vegetables or fruits that have been grown? This situation forces all actors to make choices and to prefer one choice to another one. In economics, this concept of the value, people refuse from, is known as the opportunity cost (Wessels 2006, 3). Opportunity cost, also known as economic cost, is the â€Å"cost of a scarce factor of production used to produce a good or service, as opposed to another that could have been used, instead of the one adopted† (Collin 2006, 58). To illustrate the concept of the opportunity costs there can be used the following example relative to student’s life and education. The opportunity cost of going to the university is the money a student would have earned if he worked instead during the 5 years of study. Here time is a s carce resource, which an individual can spend either by getting a degree or earning money. However, by graduating the university there is increased chance for a person to find a better paid job due to the professional qualification gained and thus to recover the lost wages (Investopedia.Com). Thus, an individual has to make a choice between going to university and being employed for a given period of time. The risk of achieving greater benefits with another option is the opportunity cost (Investopedia.Com). In order to illustrate the economic problem and opportunity costs faced by a person, company, or economy can be used the Production Possibility Frontier, also known as production possibility curve. Production Possibility Frontier is a graph