Improving the quality of the entrepreneurship’s operations is a challenging task, as the example of Company X shows. Though promoting innovation and following a customer-focused approach, the firm is facing issues due to the problems in its procurement process, therefore, causing its customers to feel frustrated over the inconsistent services. Since the process of data management affects the company at all levels including the procurement processes, i.e., the timeliness of product transportation and the security of the product, it is essential to introduce entrepreneurship to an entirely new information management approach.
Seeing that the company in question belongs to the aircraft industry, the project deliverables will include the quality and safety of the product. In this respect, technological awareness among the members of the entrepreneurship needs to be brought up. Creating a more secure environment for the firm to operate in implies not only updating its current technological tools and equipment but also teaching the staff members to use the specified devices properly so that data could be processed adequately (Pyzdek & Keller, 2014).
Therefore, the participants, understanding of how information management works and what they should contribute to improving it has also to be included in the set of project deliverables. Also, a rise in customer satisfaction rates should be viewed as one of the desirable outcomes. Finally, the project will aim at creating a smooth data analysis process for the company. As a result, it is expected that the entrepreneurship will become more successful in the designated area and increase its number of customers significantly (Marthinsen, 2015).
Defining the acceptance criteria, one must mention that the changes are expected to occur at a variety of levels and in a range of domains, thus, leading to a complete redesign of the company (David, 2013). The most obvious alterations will begin in the data management process area and imply that the process if information transfer and processing should increase at least by 20% and improve by 50% (i.e., the number of errors should be reduced twice). Additionally, it is assumed that the members of the entrepreneurship will display better data management skills (a 30% rise in their proficiency rates is expected to take place).
The project will not include the assessment of the costs that will have to be taken to improve the current performance rates of the firm. While the evaluation of costs is an essential step that will need to be considered ultimately, the present project is purposed for locating the opportunities to improve Company X’s performance. However, the resources necessary to attain the goals set for the project will have to be identified so that the company managers should be aware of the possible costs (Hansen & Mowen, 2015).
Despite facing a range of issues including a drop in the customer satisfaction rates, delays in the transportation of raw materials and products, and the overall management of the logistics process, entrepreneurship needs to consider the redesign of its present-day data management strategy. It is expected that the change thereof will trigger an immediate increase in the overall efficiency of the supply management chain. By suggesting the tools that will create stronger ties between the firm and its suppliers, the managers of Company X are bound to improve the procurement process through the introduction of a more elaborate information management strategy.
Reference List
David, A. (2013). Competitive intelligence and decision problems. New York, NY: John Wiley & Sons.
Hansen, D. R., & Mowen, M. M. (2015). Cornerstones of cost management. Boston, MA: Cengage Learning.
Marthinsen, J. (2015). Managing in a global economy: Demystifying international macroeconomics. Boston, MA: Cengage Learning.
Pyzdek, T., & Keller, P. (2014). The Six Sigma handbook (4th ed.). New York City, NY: McGraw Hill Professional.