Business Strategy of Tripoli University Computer College - Assignment Example

BUSINESS STRATEGY by + QUESTION BUSINESS STRATEGY The of thecollege will be Tripoli University Computer College. Vision The vision of the college is to provide high quality education and provide a competitive environment for the students in the job market. This is through the nurturing of a winning network of academic growth, through the creation of mutuality and interconnection with all the stakeholders. The college aims at empowering responsibility and self-drive in the student fraternity. Mission The mission of the college is to expand computer technology through the inspiration of technological advancement. The college also aims at creating value and making profound differences in the society and the computer sector. Objectives -The College aims at the provision of quality education to the whole computer interested fraternity. It also aims at creating competitive individuals in the society, who form the basis of computer development. Another objective is to be a first class university college that offers computer in the country. Lastly, the college has the objective of reaching out to the students through imparting skills that are beneficial and outstanding. Aims -The aim of the college is to increase the availability of the computer education to the growing generation of the computer era. The college also aims at growing to become a recognized institution in both Tripoli and other parts of the world. Competencies - The College is competent in the provision of the services since it is endorsed with skilled personnel. This ranges from lecturers, administration personnel, and other staff. QUESTION 2 The running of the college will face many challenges from the external and the internal environment. The change in the landscape of higher education over the years is likely to cause detrimental effects to the college. The global economic crisis is exacerbating the effects of the external environment on the college. The income from the daily activities of the guardians of the potential students continues to deteriorate, causing the decrease in the number of students enrolled in the colleges. The impact of the economy on the family incomes and purported philanthropy has been detrimental over the current years. The families are unable to afford the tuition fees to aid in the education of their children. The philanthropists have also accrued higher expenses prompting them to cut on the endowment aimed towards the higher education. Competition for the available philanthropists has grown tremendously. This causes the reduction in funding the activities of higher learning. Another challenge is the crude alignment of the people towards art related subjects. Most students presume that the art subjects are easy and easy to work with. This causes them to abandon the science subjects such as computer science, and hence leading to inefficiency in goal realization. The internal environment may also be a bigger challenge. This ranges from the admitted class profile, class attitudes and commitment to diversity. The student and faculty interaction requires to be maintained efficiently to ensure for the proper evaluation of performance. Lack of these values will lead to dissatisfaction, and low quality of production. QUESTION 3 The three planning methods include; methods of clarifying issues, methods of examining interrelationships, and methods of economic, social and environmental relationships. The methods of clarifying issues and problems involve a rigorous and responsible team to tackle the issues. A higher learning institution is likely to face many issues. The use of proper methods of solving the issues will be an amicable and satisfactory to all parties. The students will require their representatives to ensure that their grievances are dealt with. The staff also requires full participation to ensure for continuity in their assignments. These methods include brainstorming, comparison matrices, SWOT analysis, and the logical frameworks. The other methods are the methods of ensuring interrelationship between different stakeholders. The relationship between the students, the administration, and the lecturers should be put into consideration. This may be done using proper maps, computerized simulations, and other models in timing. The lectures should deliver their requirement and the students should realize their requirement. The administration should harmonize the relationship between the two stakeholders using human resource department and other administrators in the institution. The other methods involve the relationship between the social, financial, and the economic environment. The regression in an economy is likely to be harmonized in the institution through prior planning and goal setting. The financial budget should also include the supporting of the financially unable students. The social environment can be maintained through the provision of a platform for interaction between students and other sectors. The college should undertake systematic evaluation of the social, financial and economic factors to ensure centrality to the commitments of the institution (Sutherland & Jonathan, 2008). QUESTION 4 The elements of the audit process vary from organization to organization. For the college audit, the main elements that require to be audited are the management, the suppliers, planning and control, financial statements, the output of the process, and other key elements. These factors are the quality indicators of any business operation (Sutherland & Jonathan, 2008). Auditing of the suppliers is a necessity since they form a bigger part of the input to the institution. It will indicate the degree in which the formulation process meets the predetermined criteria of the operation. The control plans that are used in the whole process will include the statistical controls and the operational requirements. They form an essential part of the creditors and the main input in the process. The other element that requires auditing is the management. The management is the best indicator of the success or failure of any operation. The director of the college and the other management staff members should be under scrutiny. This is to enable them to decide the most favorable decisions devoid of fund embezzlement and other malpractices. Another important constituent of the elements is the financial data. The financial information such as the cash balances, balance sheets, and trial balances can be prepared over a given period to determine the financial position of the college. The auditing process should be independent and unbiased to provide follow-up information effectively. The financial information can be used by the institution in the acquisition of funding from the university or any other philanthropic body that may require it. QUESTION 5 The environmental auditing is done before the setting up of the college. This is to ensure that it complies with the management system implementation gaps of the law. The compliance audits are an enormous part of the audit that ensures that the program installation does no adversely affect the environment. The environmental compliance audits can be done to review the compliance status in relation to the operational context. The compliance regulations against which the audit is done such as the federal regulations, state regulations, and local codes should be within their requirement. This may be done through the multimedia audits of the air, water, and the waste produced at the college. The programmatic audits can also be done when the audit is limited in scope. This may include the auditing and analysis of the air content of the site of construction of the buildings. Therefore, they are able to determine the contamination status of the college. This provides the environmental suitability of erecting the college in that specific environment. The environmental management systems may also be employed using the ISO 14001 regulations. This is aimed at the improvement of the environmental performance, and implementing appropriate systems of setting the environmental objectives. The whole process is focused towards the environmental protection and maintenance. The environmental management system can be maximized through appointing of skilled auditors who are compliant with the legal requirement. The auditors will be required to review and update their work with time (Sutherland & Jonathan, 2008). QUESTION 6 Stakeholder analysis provides an acknowledgement of the existence of stakeholders in the college. It portrays that some stakeholders are more important than others are, hence leading to the difference in the way they are treated. Therefore, it provides a platform of maximizing the productivity of the workers, and minimizing the risks. This is done through proper identification of the sources of the conflicts and dealing with it effectively (Sutherland & Jonathan, 2008). The stakeholder analysis also provides for an avenue of prioritizing the efforts of the whole management process. The individuals who are less affected by the risks have the most effect on the college. Therefore, this is meant to ensure for continuity of management process and hence the growth of the college. According to the dimensions, some key people tend to be informed of the project during execution. This ensures that the process of the analysis is effective and reduces the risk of spreading the risk of a large group of stakeholders. It also provides a mechanism of influencing other stakeholders. The analysis and provision of better analysis mechanisms will ensure for this risk and benefit control. The analysis also acts as a way of motivating the employees. The employer is able to assess the performance, satisfaction and productivity of the employees. This may be done through performance evaluations from the students. The needs of the employees can finally be understood. This aids in the setting up in an environment that can appraise and improve their morale. QUESTION 7 According to the Boston classification, the products described here are the cash cows. This products increase the company’s profit margins due to the high prices compared to the production cost. The cash cows have a high market share and a low growth. Cash cows do not require the same level of support as before. They have a very low competitive pressure accompanied with a low growth rate in the market. They are usually associated with dominance in the market. The dominance is created by the economies of the scale of production. The organization accrues a high income from the cash cows but it does not cost the organization a lot of cash to maintain the level. Therefore, the products are susceptible to being milked to support other star products (Sutherland & Jonathan, 2008). From the description, Juicy Drinks LTD provides the fruit juice to the supermarkets to sell it under their own label. The juice has a high performance but the margins are low and hence they are a cash cow product portfolio. The company enjoys the dominance in this market and hence their advanced production and long-term contracts. They experience less competition from other firms hence leading to their monopoly of the market. Though they want to produce the pomegranate juice, they choose to eliminate it due to dominance. This is irrespective of the consumer liking of the product. They go further to expand their share of the juice market with low growth. Therefore, this scenario befits the cash cow portfolio product. Bibliography SUTHERLAND, JONATHAN. (2008). Essential Business Studies for Aqa As Le. Folens Ltd. Read More