Identify and explain the key processes required for effective project risk management

1. Plan Risk Management :

2. Identify Risks :

3. Perform Qualitative risk analysis:

4. Perform Quantitative risk analysis:

5. Plan Risk Responses:

6. Control Risks:

The Rise and Fall of Nokia in Mobile Phones

Nokia emerged from Finland to lead the mobile phone revolution. It rapidly grew to have one of the most recognisable and valuable brands in the world. At its height Nokia commanded a global market share in mobile phones of over 40 percent. While its journey to the top was swift, its decline was equally so, culminating in the sale of its mobile phone business to Microsoft in 2013.

With a young, united and energetic leadership team at the helm, Nokia’s early success was primarily the result of visionary and courageous management choices that leveraged the firm’s innovative technologies as digitalisation and deregulation of telecom networks quickly spread across Europe. But in the mid-1990s, the near collapse of its supply chain meant Nokia was on the precipice of being a victim of its success. In response, disciplined systems and processes were put in place, which enabled Nokia to become extremely efficient and further scale up production and sales much faster than its competitors.

Between 1996 and 2000, the headcount at Nokia Mobile Phones (NMP) increased 150 percent to 27,353, while revenues over the period were up 503 percent. This rapid growth came at a cost. And that cost was that managers at Nokia’s main development centres found themselves under ever increasing short-term performance pressure and were unable to dedicate time and resources to innovation. While the core business focused on incremental improvements, Nokia’s relatively small data group took up the innovation mantle. In 1996, it launched the world’s first smartphone, the Communicator, and was also responsible for Nokia’s first camera phone in 2001 and its second-generation smartphone, the innovative 7650. Nokia’s leaders were aware of the importance of finding what they called a “third leg” – a new growth area to complement the hugely successful mobile phone and network businesses. Their efforts began in 1995 with the New Venture Board but this failed to gain traction as the core businesses ran their own venturing activities and executives were too absorbed with managing growth in existing areas to focus on finding new growth.

Corporate culture is one of the strategic and competitive advantages of Nokia. “Connecting people” is the catch phrase which means the physical facilities of the company. Nokia buildings hold the strong corporate image. Nokia has four main values and principles at his heart of its corporate philosophy: customer satisfaction, respect for individuals, achievement and continuous learning. However, there are some basic differences between organisational culture and national culture. These are: leadership style, organisational policies and procedures, organisational and operational structure, recruitment and selection procedures and measuring the performance of the employees and reward systems, global team and leadership development.

Between 2001 and 2005, a number of decisions were made to attempt to rekindle Nokia’s earlier drive and energy but, far from reinvigorating Nokia, they actually set up the beginning of the decline. Key amongst these decisions was the reallocation of important leadership roles and the poorly implemented 2004 reorganization into a matrix structure. This led to the departure of vital members of the executive team, which led to the deterioration of strategic thinking. By this stage, Nokia was trapped by a reliance on its unwieldy operating system called Symbian. While Symbian had given Nokia an early advantage, it was a device-centric system in what was becoming a platform- and application-centric world. To make matters worse, Symbian exacerbated delays in new phone launches as whole new sets of code had to be developed and tested for each phone model. By 2009, Nokia was using 57 different and incompatible versions of its operating system.

At the same time, the importance of application ecosystems was becoming apparent, but as dominant industry leader Nokia lacked the skills, and inclination to engage with this new way of working. By 2010, the limitations of Symbian had become painfully obvious and it was clear Nokia had missed the shift toward apps pioneered by Apple. Not only did Nokia’s strategic options seem limited, but none were particularly attractive. In the mobile phone market, Nokia had become a sitting drop to growing competitive forces and accelerating market changes. The game was lost, and it was left to a new CEO Stephen Elop and new Chairman Risto Siilasmaa to draw from the lessons and successfully disengage Nokia from mobile phones to refocus the company on its other core business, network infrastructure equipment.

Questions

Q1. Discuss the main competitive advantages used by Nokia?

Q2. How Nokia lost its position to another competitors?

Total: (500 words).

Higher courts are reluctant to review a lower court's factual findings. Should this be so? Would appeals be fairer if appellate courts reviewed everything?

The insurance company where you work is planning to raise all premiums for health-care coverage. Your boss has asked you to read a draft of her letter to customers annousing the new, higher rates. The first two paragraphs discuss some exciting medical advances and the expanded coverage offered by your company. Only in the final paragraph do customers learn that they will have to pay more for coverage starting next year. What are the ethical implications of this draft? What changes would you suggest (in detail), and why?

Discuss the limitations of the economic value creation framework. Give an example and compare this framework to explanations that focus only on cost minimization.

Handi Inc., a cell phone manufacturer, procures a standard display from LCD Inc. via an options contract. At the start of quarter 1 (Q1), Handi pays LCD $4.00 per option. At that time, Handi’s forecast of demand in Q2 is normally distributed with a mean of 30,000 and a standard deviation of 9,000. At the start of Q2, Handi learns exact demand for Q2 and then exercises options at the fee of $2.70 per option, (for every exercised option, LCD delivers one display to Handi). Assume Handi starts Q2 with no display inventory and displays owned at the end of Q2 are worthless. Should Handi’s demand in Q2 be larger than the number of options held, Handi purchases additional displays on the spot market for $8.00 per unit. For example, suppose Handi purchases 37,000 options at the start of Q1, but at the start of Q2 Handi realizes that demand will be 40,000 units. Then Handi exercises all of its options and purchases 6,000 additional units on the spot market. If, on the other hand, Handi realizes demand is only 35,000 units, then Handi merely exercises 35,000 options.

a. Suppose Handi purchases 37,000 options. What is the expected number of options that Handi will exercise?

b. Suppose Handi purchases 37,000 options. What is the expected number of displays Handi will buy on the spot market?

c. Suppose Handi purchases 37,000 options. What is Handi’s expected total procurement cost?

d. How many options should Handi purchase from LCD?

e. What is Handi’s expected total procurement cost given the number of purchased options from part d?

​A) Thomas L.​ Friedman, The New York Times Foreign Affairs​ Columnist, in his book The World is​ Flat, quotes Yossi​ Sheffi, MIT professor of engineering​ systems, as saying​ “Making Stuff,​ that’s easy. Supply​ chain, that is really​ hard.” Agree or disagree with this​ statement, supporting your argument with examples from this class.  

Explain two reasons why knowledge of basic Excel functions is crucial for success in your workplace or businesses within your field of study (Business management). Justify your reasons by providing two examples of how this knowledge could be applied in your chosen career field. In replies to peers, discuss commonalities and differences you see in how this knowledge is applied across career fields and explain how lack of working knowledge in this basic software program could negatively impact the business.

Response in 200 words

QUESTION 1

Jason is applying for a job. A pre-employment assessment indicates that he is generally helpful, considerate, cooperative, and trusting of others. Jason has a high level of…

QUESTION 7

1. Julio is generally happy and content with his job. He enjoys his salary and gets along well with his coworkers. He is not energetic or enthusiastic about his work though. Julio is showing high _____________ and low _______________.

   	A.	Organizational commitment; job satisfaction
   	B.	Organizational citizenship; employee engagement
   	C.	Employee engagement; job satisfaction
   	D.	Job satisfaction; employee engagement

QUESTION 8

1. Suppose you are looking to hire engineers. ___________________ refer to “can do” or “competence”-related factors that influence their performance. ________________ refer to the “will do” or “character” factors that influence their performance.

   	A.	Conscientiousness and integrity; knowledge and skill in engineering
   	B.	Conscientiousness and integrity; extraversion and agreeableness
   	C.	Knowledge and skill in engineering; conscientiousness and integrity
   	D.	Knowledge and skill in engineering; intelligence

QUESTION 10

Charles stays at his job because he feels obligated. He would feel guilty about leaving, with all that his coworkers and supervisor have done for him. Which type of commitment is this demonstrating?

QUESTION 11

1. A teacher has discovered over a period of time that, even though her school has treated her well and she has a positive view of the school and the organization’s mission, she does not really like to teach and the task of teaching is not really for her. This is most likely to result in low levels of…

   	A.	Affective commitment
   	B.	Continuance commitment
   	C.	Normative commitment
   	D.	Job satisfaction

3. How is the purchasing and receiving function supposed to work for the Food and Beverage category – i.e., how is it designed to operate? What steps are different from the other categories? Again, a process flow map is helpful along with a specific example of something they might buy (i.e., salmon from Alaska or oranges from CA). Be sure to include the relationship with Safeway and how that works.

​B) McDonald’s has been promoting that it is serving its quarter pounder using fresh beef​ (after 4 decades of using frozen​ patties). This was done to bring back diners who have been lost to​ competitors; however franchise owners had expressed concerns about food​ safety, costs, storage . . . Examine this change from an operations management perspective explaining the types of issues operations managers likely had to address for it to be successful​ – and why you think it may​ (or may​ not) be worth it.

imagine you have graduated from UCD, you have been hired by a business as a Manager over a specific function. You have six direct reports assigned to you. Today is your first day on the job. Your Manager has asked to meet with you late today – she has stated that in your meeting late this afternoon she would like to have you review your plan with her on how you will lead and manage your department. You know that getting off to a strong start is very important. You have only briefly met your direct reports, but have gained a strong sense that they are eager to get to know you and provide direction going forward. You know that their last manager was as one of them stated to you, “a real disaster!”

Consider the following questions and use them as you build the plan you will review with your manager later today:

• What will you do today – day one on the job?
• What will you do over the next 30 days?
• What will you do over the next 6 months?
• How will you assure that your manager, your directs, your peers are aligned and supportive of your approach?
• What management approach will you take to ‘enable’ strong team success?
• How will you measure your managerial success over the first 6 months?

I want report about the Ethics and Social Responsibility?