In: Economics
What are the principal criteria for devising program analyses? Are these criteria realistic? Are they comprehensive? Why or why not? Illustrate with examples.
Ans) 1)The principal criteria for devising program analyses are as follows:-
- Engaging the stakeholders:
Firstly, getting the stakeholders on board with the the program is important as they are a major part of the business. Getting them involved in the program and approving of it makes program analysis easier.
- Describing the program:
A brief and clear description of the the program must be given by the business to the staff and owners so as to get a clear idea of how to analyse the credibility of the program. Descriptions bring out the flaws and strengths of the program.
- Focussing on the design for devising program:
How the program is supposed to be, how it will turn out to be and who all will be responsible for it is all decided in the design while devising the program. Analysis of the program also focuses on the design to see if the program can be carried out efficiently.
- Find credible evidence:
It is necessary to find credible evidence to show and analyse to the stakeholders and owners that the program can be successful. This evidence can be in the form of references to similar plans carried out in the past, a sample of the program, roughly carrying out a part of the program to success, etc.
- Justifying the result:
The analysis of the program also includes the analysis of its result. The result must be in accordance with what was planned in the program. If not, then the business must justify the reason behind the result not being as planned.
- Sharing the lesson learnt:
The business must share with its staff and owners how the result was along with the lessons they learnt from it. They must share whatever the program analysis taught them and learn from it.
2) These criteria are realistic in nature as a criteria in order to be realistic has to fulfill the following points:-
- Analysing the program should bring forward what kind of business the program is a part of. A program should be made taking in view the kind of business it wants to promote.
- What effect the program will have on the business market in which the products of the business are being sold? The business must take into consideration these effects as well as the size of the market and analyse the program accordingly.
- Does the program contribute to the future goals and objectives of the organisation? The program analysis must be done taking into consideration the achievement of the objectives and goals of the organisation.
- What is the profitability for the business when it carries out this program? The program must be profitable for the business otherwise there is no point in taking efforts to carry it out.
Since, the criterias fulfill all the requirements they can be considered realistic.
3) The criterias can be considered comprehensive as they can easily be understood by stockholders, staff, investors, etc. The three principles required for a program criteria to be comprehensive are that it must be and have,
ontological- must show relations between concepts and categories in a subject area.
contingent validity- the promisor must perform the promise depending upon the happening or non happening of an event.
epistemology- one must have the knowledge regarding methods, validity, scope, belief and opinion.
Since the criterias given for analysis of a program include all the three it can be considered to be comprehensive.