Bsb115 Unit 1 Assignment

[Valuing Lean Management]
Business: Virtual Business Solution
Product: Manufacturers for Touch Screen Product
Assessment Item 1
BSB115 - Management

Word count: 540

Format: Arial 11

1 Introduction
‘Virtual Business Solution’ is a large touch screen products industry in Australia. We are a three years old company with 100 employees split into specialized teams for maximum efficiency. We are based in Brisbane and offer our providing quality products, including tablet, smartphones and laptops all across Australia. Aim to expand our business internationally in order to live up to the ‘solution’ aspect of our company name, but in order to do so we must first develop our brand within Australia.
2 Analysis
of Issue

McKinsey & Company (2014) propose lean management is described as Focus on the delivering the maximum of value, trust and enable the team to organize their operation, implementing a continuing improvement culture and with a shared vision.
Companies reduce returns from years of cost cutting. Managing vendors now consumed many of the gains from outsourcing. Products, were no longer ‘low price’, and just can’t keep it low. Because of keeping up with latest IT technology, and causing barget issue(David J, Feb 2014, para. 2). However IT technology is required, on finding ways to do things better, including management.
Issues in maximizing customer satisfaction, is a challenge for many companies.
The problems were avoidable, however underlying causes went unaddressed, and negative affect to customers. Consistency is the key to making customers happy, which is the aim of this organisation. Research by McKinsey & Company (2014) suggested that evaluating the customer journey is 30% more predictive of overall customer satisfaction than individual touch points, which makes increasing customer satisfaction easier to do. Even more importantly, Keskinen, T (2013) suggest that improved satisfaction leads to increased customer loyalty. Loyal customers are likely to retain our service and recommend our service to others, thus increasing our customer base and generating more
business.
By focusing on its strengths, its key customers, and the underlying values they need. But, focusing employee is also managers’ job. When an employee is in unwell condition, it can cause decrease in value efficiency to customers. “Reducing Work Related Stress” (2014) suggests unhealthy levels of stress can also affect work colleagues, the local manager as well as the person’s family and friends. Research by McKinsey & Company (2014) suggested that work-related stress cause by 3 factors; high professional demand, low control and low social support. Means that stress is more likely in large companies than small ones. Stress small organization dropped from 56% to 46%, where large companies 67% dropped to 54%. Proofed management were cause of stress.

The organizations that work efficiently can provide them support mechanisms so that they can truly master their work. Furthermore Audun. F (2014) suggested that good relationships in workplaces, prevents stress. When the employees are happy with what the manager does, understand his or her challenges and participate actively in solving the problems, the manager will have less stress.
3 Conclusion
VBS is such a vendor. It serves its clients as a trusted ally, providing them with the loyalty of a business partner and the economics of an outside vendor. We make sure that our clients have what they need to run their businesses as well as possible, with maximum efficiency and reliability. Many of our information applications are mission critical, so we give our clients the assurance that we will be there when they need us.

Reference List

Cohen, S. (2014). The organization that renews itself: Lasting value from lean principles. Linkedin.com. Retrieved 18 August 2014, from http://www.linkedin.com/today/post/article/20140705173952-21107679-the-7-definitions-of-lean-management-achieving-operational-excellence-in-your-landscape-company
Jacquemont, D.
(2014). The organization that renews itself: Lasting value from lean management.Mckinsey.com. Retrieved 17 August 2014, from http://www.mckinsey.com/insights/operations/the_organization_that_renews_itself_lasting_value_from_lean_management
Kee, K. (2014). The organization that renews itself: Lasting value from lean management; Applying lean principles to management, rather than just operations, can help large organizations reimagine how they work and unlock value through continuous improvement. Bamboo Innovator. Retrieved 15 August 2014, from http://bambooinnovator.com/2014/02/24/the-organization-that-renews-itself-lasting-value-from-lean-management-applying-lean-principles-to-management-rather-than-just-operations-can-help-large-organizations-reimagine-how-they-work-and-u/
Deakin University,. (2014). Reducing Work Related Stress A Guide for Managers. Retrieved 17 August 2014, from http://www.deakin.edu.au/__data/assets/pdf_file/0007/228652/managers-guide2.pdf
Farbrot, A. (2014). Less stress when work relationships are good. Bi.edu. Retrieved 17 August 2014, from
http://www.bi.edu/bizreview/articles/less-stress-when-work-relationships-are-good/
Fowler, D. (2014). Men viewed more favorably than women when seeking work-life balance. EurekAlert!. Retrieved 17 August 2014, from http://www.eurekalert.org/pub_releases/2014-08/asa-mvm081214.php
Keskinen, T. (2013). Beyond HBR's "truth about customer experience". Future CMO Movement. Retrieved 19 August 2014, from http://futurecmo.org/2013/08/29/hbr-the-truth-about-customer-experience/
Rawson, A., Duncan, E., & Jones, C. (2014). The Truth About Customer Experience. Harvard Business Review. Retrieved 21 August 2014, from http://hbr.org/2013/09/the-truth-about-customer-experience/