#both are so important and are having such a profound effect on Sigma
Photo
one of the (many) reasons why this exchange makes me so emotional is that Dazai knows very well the feeling of only ever being used and taken advantage of as a tool, and not knowing anything other than that life. He understands that Sigma can’t yet comprehend the notion of someone wanting you without any ulterior motives, of people just having natural relationships that don’t involve wanting to get something out of each other, because that was his life before he met Oda, who was a “balm for the soul” (in his own words) for him; hence, he doesn’t try to explain it to Sigma at first. But he does relent once Sigma takes Dazai’s initial silence as him being unworthy for an explanation... He doesn’t go into more detail as to why “understanding would be difficult”, because that would require opening up about himself which is something Dazai is still far from ready for, and because he knows Sigma wouldn’t be able to fully understand or accept all of this yet, but just the two reasons he does give for choosing him are already causing Sigma to start to rethink everything he’s ever known about the world and how people treat each other.
Dazai chose him to use his ability, just like everyone who’s always used Sigma has -- but he also chose him to save his life, and to help the agency, people he cares about and wants to help for completely selfless reasons, without expecting anything in return (sure, Dazai jokes about him being on the agency’s payroll, but that’s just his usual deflecting to avoid admitting that he cares :’). This is completely foreign behavior in Sigma’s world, where everyone has to use each other in order to survive, but he’s realizing that Dazai is different from them: he’s realizing what it feels like to be wanted simply out of compassion and love, and not because of how valuable he may be. Sigma isn’t just any other ordinary orphan Dazai saves; he wants to save him particularly because he empathizes with him and sees his old, hurt, jaded self in him, and he’s slowly becoming the balm for the soul for Sigma that Oda was for himself back then, which is truly touching.
#bungou stray dogs#bungou stray dogs spoilers#meta#bsd 105.5#Sigma is 100% joining the ADA by the end 😭😭😭 I just know Dazai has already adopted him#look at the softness in his face!!! he's making this Sigma's entrance exam you cannot tell me otherwise!!!#i know people like to say that Dazai sees his younger self in Atsushi#and yeah in a general more broad sense you could argue that#but Sigma is really who he can empathize with#even though Sigma personality-wise is more similar to Atsushi#but his past and the worldview it's given him of how people only ever have ulterior motives and want to use each other#is more similar to pre-Oda Dazai#he has Atsushi's anxiety and low self-esteem issues but his life experiences are Dazai's#he fought so hard for a home on his own - the casino - because no one else would ever give him one#he never had any reason to believe anyone ever would give him one#he's always wanted a HOME but never expected a FAMILY#but now Dazai is the first person who's ever chosen him for /him/#Atsushi showed him kindness earlier too but Dazai CHOSE him#both are so important and are having such a profound effect on Sigma#I'm also convinced that Sigma's ability got information from Atsushi before he thought he was going to die about his purpose or something#in exchange for the info about the page#and that that's going to come into play here during the peak of Sigma's development#it all just makes me so emotional ahhhhhhhh 😭🥺💜 i love these two so much *CRIES*
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Realty Matters: Risk Management
When talking to prospective clients for my property management business, I always say, “rental property management is really about Risk Management.” I often tell the story of a client, who had previously decided to self-manage. Although he always tried to do the right thing, a small, innocent error led to a spiraling sequence of unfortunate events. The story was an example of how small errors may go undetected, unknown, and remain unrealized, until something goes wrong. Consequences in total were severe, not only financial misfortune, but it also left a lasting and profound psychological impact. But, if nothing goes wrong, is there any risk?
Risk is measured using statistics and derived from both quantitative components and qualitative factors. Qualitative factors are a challenge, particularly for individual or small unit-count property investments. Included are interpersonal relationship dynamics, such as behavior, which is possible to recognize but a challenge to quantify.
Qualitative risk management planning effectively reduces or eliminates consequences — and is the focus of this column — with most benefits achievable without statistics. An annual assessment exercise allows most real estate investors to improve business practices, whether doing rehabs, long-term holds, lending, or some combination. It is not difficult with the right tools and understanding and will elevate your business to the next level resulting in larger gains and smaller losses. Critical thinking and arithmetic are the only things necessary for implementation.
Statistics Deconstructed
The path to eliminate problems before they occur
Calculating risk is an attempt to determine probability of an outcome. A conceptual understanding of how those numbers are derived is critical for effective implementation of risk management practices. A grasp of risk theory only requires a bell curve illustration and a sprinkling of a few statistical terms when combined with practical real estate examples.
The bell curve figure has a symmetrical area under the curve that (eventually) totals 1.00 (one). Where:
μ = [mu, (pronounced “mew”)] is the data mean, the average, (expected outcome or return)
𝝈 = [sigma] the standard deviation, shows six equidistant intervals, known as the range (99.7% of 1.00)
Any given point in the graph is a probability of an event or an accumulated series of events. Events are plotted in relation to the frequency they occur (height) and distance from average (left or right of centerline). Closely plotted points indicate the deviation from average is low; loosely plotted points mean less predictability (the deviation from average is high).
Grasping the concept of risk theory is important for Risk Management planning
Roughly speaking, events that occur with high frequency are prone to have more variation than events that occur less frequently while less frequent events may mean less variation. Symmetrically speaking, consider that high frequency events having low consequence may have an aggregate severity equal to low frequency events having high consequence. Reducing variation of outcome through tighter controls reduces total severity of consequence, which is how you will apply risk management to your business.
Example of Risk Management indicators in real estate
Imagine two Renters, A & B. Renter A paid rent consistently late, on the fourth day of the month with rarely any variation. Plotted on the curve, the average would show a high frequency of late rent as averaging –four. Renter B is different. The average is one, which would indicate rent is paid on average a day early. Except many of the plots are largely spread out into the negative teens and twenties, with a few plots at 30, 40, and 60. Which has higher variation? Which has more risk? Which can you be more confident of getting paid rent on a given day?
As a separate event, the number of opportunities that a basement will flood may be far less than opportunities for rent to be paid on time, yet, the financial consequence may be quite severe. A sump pump with battery backup is installed, so all should be okay, right? Now evaluate the same two renter households. Consider Renter A vs. Renter B. Would you consider the likelihood of tampering with the sump pump between Renter A and Renter B as the same? Why or why not?
Statistics attempt to bring together all events of different types, each having probabilities and frequencies of their own, and normalize them into a single measure (expected outcome) that you determine is important. Managing the causal factors that impact the outcome is up to you.
Application of Risk Management Principles without Statistics
The key is to identify possible causes that prevent achieving the expected outcome.
It has been established now, with the iterative cycle of real estate operations, even though an event never gets tested or realized (a failure does not occur), that risk remains inherit in the system. A step most overlooked is a critical thinking exercise that accounts for possibilities of what can go wrong. Possibilities considered are possibilities managed. Proactive vs. Reactive.
Identification of 95 percent of causes are either obvious or routine enough to identify with a smidge of critical thinking. Reducing variation and consequences of those causes is a qualitative and subjective exercise. Tighter controls and mitigation plans are how risk management can be applied to your business to reduce losses and improve gains. The sum of all the individual multi-factorial events and iterative processes (e.g., getting paid rent on time, having contractors show up on time, detecting water leaks or pests before they become a problem, etc.), over time add up to the expected outcome.
Risk Management Methodology
There is a simple methodology that does not require the use of any statistics to assist with managing mistake-prone qualitative risk factors:
Consider what can go wrong (this is often the hardest part)
Determine how bad the outcome would be (consequences)
Determine how likely it is to happen (likelihood of occurrence)
Determine the risk level of the event with application of a risk score
Manage the event; eliminate or reduce the likelihood; mitigate the consequence.
How it works:
Below are some examples to subjectively score criteria. Consequence criteria may be how severely could it cause financial or legal harm and likelihood indicates likeliness or propensity for realization.
With each event, determine the consequence and likelihood of occurrence to apply a risk score and determine if it requires some form of mitigation management. With Renter B, for example, perhaps a remote monitoring alarm should be installed that would warn you of a high-water level. Consider how to mitigate, and then re-assess:
Eliminate the possibility for the event from happening (risk of ceiling fan breaking, replace with a dome light instead if the market isn’t sensitive to having ceiling fans).
Substitute with an alternative option (unreliable and poor-quality maintenance contractor, utilize a more competent and professional contractor that gets it done right the first time).
Utilize automation and controls (put in place as a proxy assistant to make operations easier and results in less hassle for both you and the tenant — could be software and hardware).
Administrative controls with clear policies and procedures (move-in and move-out procedures, and security deposit management are a big source of dispute, or have your own Terms and Conditions, or quality standards that you expect contractors to follow).
Develop policies, procedures, practices and guidelines, for renters and contractors to mitigate against possible symptoms of dispute. Provide training, instruction, and supervision.
The matrix shown above is an interactive spreadsheet that contains a series of multiple worksheets with internal linking as a roadmap to assist with Risk Management planning. It is available for download through the links provided at RealtyMatters.Online/Column/June-2020. It contains an exhaustive list of 60+ categorized risk components that is applicable to most investment strategies. Go to the links identified to get your free copy.
Please Tell Me What You Think
For those statisticians reading, please tell me how I did.
A simplified Risk Management Approach in Real Estate online course or module for the individual small unit-count investor category is lacking. Would you find value with something like that? Write to me and let me know. Go to RealtyMatters.Online
For Column Notes, Resources and Language Translation for this Column, go to:
RealtyMatters.Online/Column/June-2020
The post Realty Matters: Risk Management appeared first on Think Realty | A Real Estate of Mind.
from Real Estate Tips https://thinkrealty.com/realty-matters-risk-management/
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How to Increase Productivity in a Highly Collaborative Remote Workspace
https://120profit.com/?p=2397&utm_source=SocialAutoPoster&utm_medium=Social&utm_campaign=Tumblr
In this digital age, where workspaces are dominated by Millennials and their wanderlust mindset, the term “collaboration” takes on new meanings. You are probably aware that freelancing and remote working is a rising trend among Millennials. While it’s great to be able to work together from remote (even exotic) locations spread across the globe by collaborating over the internet, albeit if not done right, productivity can take a toll. In these days of Six Sigma and Kanban, managers (and employers at large) take productivity very seriously. And why shouldn’t they? The competition among businesses and companies in every industry today is ridiculous. Furthermore, nowadays, both the employers and the employees tend to give “work-life balance” a very high priority. So, employers would certainly want to get the most out of their employees and optimize their productivity to the absolute fullest. Productivity in traditional workplaces has been a function of many variegated factors, such as: Desk design: The employee’s desk is their core working space and should be designed carefully, in a way that facilitates communication as well as allows some privacy. The trick is to strike the right balance between the two. Office environment: The general design of the office also plays a major role in the employee’s productivity. It affects more than just simple ergonomics and can have a profound impact on the employee’s overall health and wellbeing. So, having adequate lighting, ventilation, and air-conditioning is as important as having well-designed conference rooms, hallways, and lounges. Personalization: It is believed that personalizing your space can increase your emotional connection to your work. Small, non-cluttering personal items such as desk toys, photo frames, etc. may help make the employee feel more at home and improve concentration, thus boosting productivity. Work culture: Creating a positive company culture is directly linked with the level of productivity of the workers. This is quite simply an undeniable fact but is still often overlooked by large corporates. A positive work culture is one which fosters a sense of belonging among employees, encourages them to take frequent breaks to recharge, and promotes open collaboration across different teams. Software tools: The quality of software tools (and resources in general) available to the workers is a critical factor affecting their level of productivity and output. These are just some of the many factors that affect the productivity of employees working in a regular corporate office. However, when we talk about a remote workspace, such as a home office or a beach house in the Bahamas, it’s the employee who’s the boss of their desk design and work environment. The workspace would be then (by default) personalized and optimized according to their liking, and so, these no longer remain the controllable factors affecting their productivity. As a matter of fact, a 2017 study by the University of Minnesota suggests that ‘creative geniuses’ prefer a cluttered, busy workspace. Of course, there are always tips and tactics to help design an ideal home office which is comfortable yet serious. But what still remains the same is the software being used by the workers to perform the actual tasks. Typically, the software tools are standardized across the company and so the employer still plays an important role in influencing the productivity of employees in this regard. Simply put, increasing productivity in a highly collaborative, virtual workspace of telecommuters comes down to the company’s choice of software. And for the tech-savvy Millennials, however, software is more than just a mere tool to complete a task. Just as a lot of thought process goes into designing a highly productive physical workspace – architecture, interior design, structural design, etc. – the same is true for a virtual workspace. It takes a good deal of creativity and design thinking to produce software that gives a great User Experience (UX), and in turn, increases productivity. Moreover, software with a gorgeous User Interface (UI) motivates the workers to do more. So, let us take a quick look at some remote collaboration tools that truly stand out from the crowd when it comes to boosting productivity with a stellar UI/UX. As a bonus, the listed tools will be pocket-friendly but not compromising on quality. Remote Collaboration Tools Tools for Swift and Crisp Communication While back-and-forth emailing serves the purpose of communication, there are countless tools and apps (free and paid) that offer all-in-one communication services: voice calling, video calling, screen sharing, and instant messaging, over the internet. But only a handful of them are noteworthy and actually boost productivity instead of increasing the hassle. As you may have already guessed, Slack rules the charts here. With competitive pricing and a compelling free plan boasting all the features you could possibly need, it’s no wonder Slack is the global benchmark of instant messengers. Popular quality alternatives include Google Hangouts and Skype which possess all the features but feel slightly inferior to Slack in terms of the interface and intuitiveness. Tools for Collaborative Task Management Being on the same page can be challenging, especially when you and your colleagues are thousands of miles away. Thankfully, there are apps that help streamline work, track progress, and promote productivity and accountability across the team. Asana is one of the notable ones because it doesn’t overwhelm you with a barrage of advanced features and just offers all the basics – creating calendars, assigning tasks, and setting priorities – in a neatly designed package. Trello is a great alternative which takes a Kanban approach to project management, with intuitive boards and drag-and-drop cards. Both are very budget-friendly and Trello’s free plan is more than enough for startups and small businesses. Tools for Collaborative Documentation No business or company exists without documentation. Although documentation can be tedious, a good user interface can help make things interesting and speed things up. Google Drive unarguably deserves the top spot when it comes to creating documents, spreadsheets, presentations, forms – you name it, in a collaborative environment. It is fast, free, user-friendly, and the ease of collaboration (real-time too) is unbeatable. When you think of PDFs, you think of Adobe. It has all the features to get the job done. However, it’s a little pricey and the interface is bland. And a poor user interface won’t do any good to your overall productivity. Fortunately, there are free alternatives to Adobe such as the Icecream PDF Editor which has a minimalistic and clean design and is completely free – including PDF text editing. It allows you to annotate (add comments and notes) which is very useful when collaborating remotely. Wrapping Up The advent of the internet has allowed us to work together from anywhere in the world. Ensuring maximum efficiency while working in the comfort of our desired location boils down to the software we use. This post elaborates on some freemium tools and apps that have just the right features and a beautiful interface to collaborate effectively and improve productivity when telecommuting. Image: Shutterstock !function(f,b,e,v,n,t,s) {if(f.fbq)return;n=f.fbq=function(){n.callMethod? n.callMethod.apply(n,arguments):n.queue.push(arguments)}; if(!f._fbq)f._fbq=n;n.push=n;n.loaded=!0;n.version='2.0'; n.queue=[];t=b.createElement(e);t.async=!0; t.src=v;s=b.getElementsByTagName(e)[0]; s.parentNode.insertBefore(t,s)}(window, document,'script', 'https://connect.facebook.net/en_US/fbevents.js'); fbq('init', '573364149534092'); fbq('track', 'PageView'); 120profit.com - https://120profit.com/?p=2397&utm_source=SocialAutoPoster&utm_medium=Social&utm_campaign=Tumblr
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How to Increase Productivity in a Highly Collaborative Remote Workspace
In this digital age, where workspaces are dominated by Millennials and their wanderlust mindset, the term “collaboration” takes on new meanings.
You are probably aware that freelancing and remote working is a rising trend among Millennials. While it’s great to be able to work together from remote (even exotic) locations spread across the globe by collaborating over the internet, albeit if not done right, productivity can take a toll.
In these days of Six Sigma and Kanban, managers (and employers at large) take productivity very seriously. And why shouldn’t they? The competition among businesses and companies in every industry today is ridiculous. Furthermore, nowadays, both the employers and the employees tend to give “work-life balance” a very high priority. So, employers would certainly want to get the most out of their employees and optimize their productivity to the absolute fullest.
Productivity in traditional workplaces has been a function of many variegated factors, such as:
Desk design: The employee’s desk is their core working space and should be designed carefully, in a way that facilitates communication as well as allows some privacy. The trick is to strike the right balance between the two.
Office environment: The general design of the office also plays a major role in the employee’s productivity. It affects more than just simple ergonomics and can have a profound impact on the employee’s overall health and wellbeing. So, having adequate lighting, ventilation, and air-conditioning is as important as having well-designed conference rooms, hallways, and lounges.
Personalization: It is believed that personalizing your space can increase your emotional connection to your work. Small, non-cluttering personal items such as desk toys, photo frames, etc. may help make the employee feel more at home and improve concentration, thus boosting productivity.
Work culture: Creating a positive company culture is directly linked with the level of productivity of the workers. This is quite simply an undeniable fact but is still often overlooked by large corporates. A positive work culture is one which fosters a sense of belonging among employees, encourages them to take frequent breaks to recharge, and promotes open collaboration across different teams.
Software tools: The quality of software tools (and resources in general) available to the workers is a critical factor affecting their level of productivity and output.
These are just some of the many factors that affect the productivity of employees working in a regular corporate office.
However, when we talk about a remote workspace, such as a home office or a beach house in the Bahamas, it’s the employee who’s the boss of their desk design and work environment. The workspace would be then (by default) personalized and optimized according to their liking, and so, these no longer remain the controllable factors affecting their productivity. As a matter of fact, a 2017 study by the University of Minnesota suggests that ‘creative geniuses’ prefer a cluttered, busy workspace.
Of course, there are always tips and tactics to help design an ideal home office which is comfortable yet serious.
But what still remains the same is the software being used by the workers to perform the actual tasks. Typically, the software tools are standardized across the company and so the employer still plays an important role in influencing the productivity of employees in this regard.
Simply put, increasing productivity in a highly collaborative, virtual workspace of telecommuters comes down to the company’s choice of software. And for the tech-savvy Millennials, however, software is more than just a mere tool to complete a task. Just as a lot of thought process goes into designing a highly productive physical workspace – architecture, interior design, structural design, etc. – the same is true for a virtual workspace.
It takes a good deal of creativity and design thinking to produce software that gives a great User Experience (UX), and in turn, increases productivity. Moreover, software with a gorgeous User Interface (UI) motivates the workers to do more.
So, let us take a quick look at some remote collaboration tools that truly stand out from the crowd when it comes to boosting productivity with a stellar UI/UX. As a bonus, the listed tools will be pocket-friendly but not compromising on quality.
Remote Collaboration Tools
Tools for Swift and Crisp Communication
While back-and-forth emailing serves the purpose of communication, there are countless tools and apps (free and paid) that offer all-in-one communication services: voice calling, video calling, screen sharing, and instant messaging, over the internet. But only a handful of them are noteworthy and actually boost productivity instead of increasing the hassle.
As you may have already guessed, Slack rules the charts here. With competitive pricing and a compelling free plan boasting all the features you could possibly need, it’s no wonder Slack is the global benchmark of instant messengers.
Popular quality alternatives include Google Hangouts and Skype which possess all the features but feel slightly inferior to Slack in terms of the interface and intuitiveness.
Tools for Collaborative Task Management
Being on the same page can be challenging, especially when you and your colleagues are thousands of miles away. Thankfully, there are apps that help streamline work, track progress, and promote productivity and accountability across the team.
Asana is one of the notable ones because it doesn’t overwhelm you with a barrage of advanced features and just offers all the basics – creating calendars, assigning tasks, and setting priorities – in a neatly designed package. Trello is a great alternative which takes a Kanban approach to project management, with intuitive boards and drag-and-drop cards.
Both are very budget-friendly and Trello’s free plan is more than enough for startups and small businesses.
Tools for Collaborative Documentation
No business or company exists without documentation. Although documentation can be tedious, a good user interface can help make things interesting and speed things up.
Google Drive unarguably deserves the top spot when it comes to creating documents, spreadsheets, presentations, forms – you name it, in a collaborative environment. It is fast, free, user-friendly, and the ease of collaboration (real-time too) is unbeatable.
When you think of PDFs, you think of Adobe. It has all the features to get the job done. However, it’s a little pricey and the interface is bland. And a poor user interface won’t do any good to your overall productivity.
Fortunately, there are free alternatives to Adobe such as the Icecream PDF Editor which has a minimalistic and clean design and is completely free – including PDF text editing. It allows you to annotate (add comments and notes) which is very useful when collaborating remotely.
Wrapping Up
The advent of the internet has allowed us to work together from anywhere in the world. Ensuring maximum efficiency while working in the comfort of our desired location boils down to the software we use. This post elaborates on some freemium tools and apps that have just the right features and a beautiful interface to collaborate effectively and improve productivity when telecommuting.
Image: Shutterstock
This article, “How to Increase Productivity in a Highly Collaborative Remote Workspace” was first published on Small Business Trends
https://smallbiztrends.com/
The post How to Increase Productivity in a Highly Collaborative Remote Workspace appeared first on Unix Commerce.
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Devry GSCM588 Full Class
http://hwpool.com/product/devry-gscm588-full-class/
GSCM588 week 1 discussion dq 1 & dq 2
dq 1
Definition of Quality (graded)
Review the You Decide, then respond to the question below:
As a consultant who is sitting in on the meeting at Extrude-Rite, how would you advise the group to approach the development of a definition of quality? How can the various stakeholder concerns be addressed? How do the traits of quality need to be considered in this process?
dq 2
Supplier Quality (graded)
Why is it important that a supplier’s definition of quality link well to the receiving organization’s definition of quality?
devry GSCM588 week 2 discussion dq 1 & dq 2
dq 1
Quality Thought Leaders—Past and Present (graded)
Explain what a quality management philosophy is and then identify which quality guru best fits your organization’s quality management philosophy or the way that you would want your organization to operate. Dig deep into the thought leaders—perhaps a mix of approaches is the best approach. Be sure to explain why you feel this way.
dq 2
Quality Awards (graded)
In Doc Sharing, find the file labeled D-Quality Awards Guide_Roberson.docx. Choose an award from it and research it on the website. Provide some background on what your chosen award process is and list the advantages and disadvantages of the award. Identify whether it links to any of the quality management gurus’ philosophies. Be sure to explain why you feel this way.
devry GSCM588 week 3 discussion dq 1 & dq 2
dq 1
Kano Model (graded)
Explain how the Kano model can help organizations plan for and satisfy different types of customer groups. How might the Kano model help an organization define quality?
dq 2
Supplier Quality and the Voice of the Customer (VOC) (graded)
Explain the VOC concept, then link VOC to the supplier relationship with the receiving organization. Discuss the advantages and disadvantages of practicing VOC in this manner, taking into account areas in which mistakes in VOC can have detrimental results.
devry GSCM588 week 4 discussion dq 1 & dq 2
dq 1
SWEATT Model (graded)
In Doc Sharing, find the file labeled SWEATT Model and read the presentation. How can this model be used to guide leadership decision making and organizational behavior. Link your response to the Wisdom to Tradition model described in the Week 2 Lecture.
dq 2
Different Views on Leadership (graded)
Using the NASA example in the lecture, examine other (quality) failures that have been attributed to leadership. Detail the background of the issue, then explain what went wrong. Finally, what do you think might have been some underlying reasons for the (quality) failure? Link your answer to the concepts of defining quality, quality strategy, and the Kano model from Weeks 1, 2, and 3 (respectively).
devry GSCM588 week 5 discussion dq 1 & dq 2
dq1
The Cost of Quality and Suppliers (graded)
Explain the cost of quality concept—both the advantages and disadvantages. Discuss how having an effective cost of quality program at suppliers can improve the overall quality of supplier-delivered components and services to the receiving organization.
dq 2
Lead and Lag Indicators (graded)
Explain the concept of lead and lag indicators. Why would the development of such a diagram aid organizations in developing a performance measurement system? Link your response to the discussion on quality strategy from Week 2 and the SWEATT model from Week 4.
devry GSCM588 week 6 discussion dq 1 & dq 2
dq 1
Quality Function Deployment (QFD) (graded)
Explain the concept of QFD. How do the elements of the QFD diagram link to our class discussions (e.g., the right side of the QFD diagram is all about defining quality). Then explain how the QFD diagram should be implemented in an organization and how the QFD diagram can be used cross functionally (across departments) to improve quality (you might want to review the approach of Crosby, from Week 2, as you answer this question).
dq 2
Process Management and Supplier Quality (graded)
Using the information from our text and the lecture material on process management, explain how some of the tools described (e.g., flowcharts, histograms, etc.) can be used to determine whether supplier quality is at the desired levels. Why would it be important for an organization to have a standard way of looking at (and evaluating) supplier quality relative to process management?
devry GSCM588 week 7 discussion dq 1 & dq 2
dq 1
Statistical Process Control (graded)
What is statistical process control? What does statistical controlmean? What is the difference between capability and control? What is the difference between repeatability and reproducibility? Please provide examples for each.
dq 2
Problem Solving and Supplier Quality (graded)
How can a problem-solving model be used to guide the process of quality improvement in an organization’s product and services? What are the advantages and disadvantages of using a problem-solving model (e.g., can problem-solving models slow down the problem-solving process)? Link your response to the need for suppliers to have a robust and effective problem-solving process.
dq 3
Cumulative Learning
This is a very important question for each student as he or she reflects on our learning during the course, because it factors into the upcoming Final Exam. Your answer should be two to three paragraphs long and demonstrate a holistic understanding of the course material.
Given our study of quality over the past 7 weeks, what value have you found relative to the study of quality? How have your views on quality developed over the course of our study? What have been the two outcomes from this course that you will be able to apply personally or professionally? Be sure to explain why.
devry GSCM588 week 4 midterm latest
1.
Question :
(TCO A) Who is in the best position to define quality for a product or service? Is it the customer, the producing organization, regulators? Of the three stakeholders listed, who has the most input in how quality is defined for a product or service? This answer must be in your own words—significant cut and paste from the text or other sources is not acceptable.
Question 2.
Question :
(TCO G) Explain the key management and organizational principles that are necessary for effective implementation of Six Sigma. This answer must be in your own words—significant cut and paste from the text or other sources is not acceptable.
Question 3.
Question :
(TCO D) Explain the value of using a quality award to drive quality improvement efforts at an organization or a supplier. Why do you think quality awards are not more well-known? How might organizations use quality awards to improve customer perception of quality? This answer must be in your own words—significant cut and paste from the text or other sources is not acceptable.
Question 4.
Question :
(TCO C) Compare Deming’s Theory of Profound Knowledge and Crosby’s Absolutes of Quality Management. Do these theories conflict or complement each other? This answer must be in your own words—significant cut and paste from the text or other sources is not acceptable.
Question 5.
Question :
(TCO A) Explain the Wisdom to Tradition model (Week 2 Lecture). How can the Wisdom to Tradition model be used improve the quality culture of an organization? This answer must be in your own words—significant cut and paste from the text or other sources is not acceptable.
Question 6.
Question :
(TCO E) Relative to a total customer service strategy (Week 3 Lecture), select one of the four major areas identified and discuss how the area you selected links to the concepts of the Kano model. This answer must be in your own words—significant cut and paste from the text or other sources is not acceptable.
Question 7.
Question :
(TCO E) Explain the concept of the Kano model. Why is it important for organizations to help customers establish Kano levels that are appropriately linked to the value trait of quality? This answer must be in your own words—significant cut and paste from the text or other sources is not acceptable.
Question 8.
Question :
(TCO C) What can the leadership of an organization do to ensure that quality issues, when they happen, reach the appropriate level of leadership? Link your response to the development of a robust quality strategy and the quality award process. This answer must be in your own words—significant cut and paste from the text or other sources is not acceptable.
devry GSCM588 all week course project ( 2,3,6&7)
GSCM588 Course Project Requirements
Topic Selection
1. Select a specific organization of interest to you and identify aquality management related problem(s) in the firm. Examples may be poor quality levels, high cost of quality, poor product or service design, high levels of internal or external failures, and so on. Feel free to add to this list if you need to.
2. You are taking on the role as a quality management consultant and the executives of your chosen organization have asked you to submit a recommended direction to implement a quality management initiative to address the quality management related problem(s) you identified above(e.g., Six Sigma, lean principles, TQM, SPC, balanced scorecard, etc.).
3. You also need to identify which of the course TCOs and specific topics in the Syllabus are related to the problem you identify.
Research Sources
1. All papers must have a minimum of eight scholarly sources (other than textbook) cited within the text of the paper and identified in the References section.
2. Additional research sources can be attached in an appendix.
3. All sources must be in two place: They need to be identified in the References section and must also have a corresponding citation in the body of the paper.
4. To access and use EBSCOhost for your research, use this link: Paper Format
1. All papers should be single sided, doublespaced, and written in12-point Times New Roman font.
2. The paper should be between 10 and 12 pages, excludingthe cover page, reference pages, and appendices.
3. The first page should include the title of the work, student name, address, telephone and e-mail address, course number, date, and instructor’s name.
4. Follow APA style for general format and citations.
5. Paper sections must adhere to the guidelines below and each section must be labeled in the text.
6. The language should be clear, concise, and precise.
7. The tone should be professional, consistent, and not filled with jargon.
8. Grammar and syntax (sentence structure) must be correct.
9. The report must be free of misspellings and typos.
Tables and Figures
1. All figures and tables must be referred to in your text before they appear on the page.
a. Figures and tables should appear on the same page as the text that refers to them, or on the next page.
2. All figures and tables need captions. Captions go below figures and above tables.
Quotations and Citations
1. Quotations and citations are crucial components of a research paper.
2. Failure to properly cite research sources and borrowed ideas is plagiarism.
3. Papers submitted without citations and references will be returned to the student with no grade.
4. Refer to the APA style guide for assistance with properly citing quoted and/or borrowed materials and ideas.
Milestones
WEEK ACTION REQUIRED
Week 1 Look forward in the weekly readings and lecturesand familiarize yourself with course content and then select an organization and problem area to research for ideas.
Week 2 Submit a written project proposal containing the following.
1. Follow the example GM588 Final Project Proposal outline provided in Doc Sharing.
Weeks3–6 Continue to work on the class project; seek instructor help as required.
Conduct library research on your topic.
1. Identify a minimum of eight scholarly resources for your project.
2. All resources for the paper should come from the DeVry library and must be of scholarly/journal quality.
3. Use the librarians for assistance in accessing materials.
Please note: Articles found online (consulting company websites, Internet magazines, or other blogs) will not be considered acceptable scholarly resources. Conduct your research through a library where you can be assured that the sources are of scholarly quality. For example, please do not use Wikipedia!
Week 7 Submitthe completed project to the assignment area for grading.
Project Outline
Please print out the Course Project Outline available in Doc Sharing and use it as a checklist while constructing your paper and again before you turn it in.
Your paper must include the following sections.
SECTION POINTS DESCRIPTION
Title Page 5 This should contain the title of your quality management research paper; your name, address, e-mail address, and telephone number;the course number and title; the instructor’s name; and the date.
Introduction 10 Provide an overview of the organization and give enough information about the firm to acquaint an unfamiliar person (no matter how famous the company). Identify the company’s name, location, size, and market segment (business line), and give a brief history. Identify the essential issues, events, or actions to help frame the problem and subsequent discussion points.
Problem Statement 15 Identify and clearly state the problem (the quality management issues that you have selected to research).
The problem statement should identify the major reason(s) for the recommended direction to implement a quality management initiative.
A well-formed problem statement has the following.
1. Focus: The problem should be well defined and specific enough for the reader to gain a clear idea of the quality management area and the direction of your study and research.
2. Structure: If the problem statement is sufficiently focused, it will provide a basis for decisions about which information to include and which to exclude from the paper.
3. Significance: The significance section is the area where you need to answer the magic question: “So what?” The significance makes your research worth it to the reader. It is great if you can link this more to quality and productivity issues and provide numbers to support your direction.
Literature Review 30 • You must address a minimum of eight scholarly resources in this section (excluding the textbook).
Provide an analysis and synthesis of the various authors from the research that significantly informed your analysis and proposed solutions.
You may have found conflicting opinions or theories related to your topic area. Identify and discuss any such contrasts and/or describe in detail significant agreement among your sources.
Your literature review should be separate and distinct from your analysis section; it is a summation of your research.
The “best practices” of quality management that were covered in the course and that link with your direction should be cited in this section.
Use subtitles as necessary.
Citations are a must!
Analysis 30 Explore the problem in depth and with scholarly rigor.
Provide an identification and description of the potential root causes of the problem or issue. Be sure not to address only symptoms of your problem. Diagnose the problem and its origins as best you can.
A critical element of this section is to apply the best practices of quality management concepts and models from the textbook, class discussions, and researched sources.
Discuss the concepts, ideas, or insights that are most valuable in helping you make sense of the causes of the problem. Support your analysis with reference to appropriate research material.
Citations are a must!
Recommendations
30 Identify the quality management initiative and recommended direction that you have chosen. Explain its relevance and significance in how it will address the quality management issue(s) and reason(s) that you identified in the problem statement area.
Citations are a must!
Note: Please remember in this section you also need to touch on how you will be able to measure success. Think of the “lead-lag” indicator concepts from the course readings and lectures.
Reflection 10 In this section, you are to reflect on your learning from this assignment. Identify the areas that you found most interesting and also identify areas that you feel will assist you most in your career.
References 10 You must use no fewer than eight library resources outside your textbook.
All references must be cited in two places: within the body of your paper and on a separate reference list. Choose references judiciously and cite them accurately. Cite all sources using APA format.
Please note: Citing an author’s work within your text documents your research, identifies the source for readers, and enables readers to locate the source of information in the alphabetical reference list at the end of the paper.
To use the ideas or words of another person without crediting the source is plagiarism. Plagiarism in its purest form involves copying passages either verbatim or nearly verbatim, with no direct acknowledgment of the source. The most common form of plagiarism is to paraphrase information from your source material. Paraphrasing does not relieve you of the obligation to provide proper identification of source data.
The best way to avoid plagiarism is to make sure all quotes, ideas, or conclusions not your own are given proper acknowledgment in your text. A key thought to remember is “If you did not write it, cite it!”
0 notes
Text
Devry GSCM588 Full Class
http://hwpool.com/product/devry-gscm588-full-class/
GSCM588 week 1 discussion dq 1 & dq 2
dq 1
Definition of Quality (graded)
Review the You Decide, then respond to the question below:
As a consultant who is sitting in on the meeting at Extrude-Rite, how would you advise the group to approach the development of a definition of quality? How can the various stakeholder concerns be addressed? How do the traits of quality need to be considered in this process?
dq 2
Supplier Quality (graded)
Why is it important that a supplier’s definition of quality link well to the receiving organization’s definition of quality?
devry GSCM588 week 2 discussion dq 1 & dq 2
dq 1
Quality Thought Leaders—Past and Present (graded)
Explain what a quality management philosophy is and then identify which quality guru best fits your organization’s quality management philosophy or the way that you would want your organization to operate. Dig deep into the thought leaders—perhaps a mix of approaches is the best approach. Be sure to explain why you feel this way.
dq 2
Quality Awards (graded)
In Doc Sharing, find the file labeled D-Quality Awards Guide_Roberson.docx. Choose an award from it and research it on the website. Provide some background on what your chosen award process is and list the advantages and disadvantages of the award. Identify whether it links to any of the quality management gurus’ philosophies. Be sure to explain why you feel this way.
devry GSCM588 week 3 discussion dq 1 & dq 2
dq 1
Kano Model (graded)
Explain how the Kano model can help organizations plan for and satisfy different types of customer groups. How might the Kano model help an organization define quality?
dq 2
Supplier Quality and the Voice of the Customer (VOC) (graded)
Explain the VOC concept, then link VOC to the supplier relationship with the receiving organization. Discuss the advantages and disadvantages of practicing VOC in this manner, taking into account areas in which mistakes in VOC can have detrimental results.
devry GSCM588 week 4 discussion dq 1 & dq 2
dq 1
SWEATT Model (graded)
In Doc Sharing, find the file labeled SWEATT Model and read the presentation. How can this model be used to guide leadership decision making and organizational behavior. Link your response to the Wisdom to Tradition model described in the Week 2 Lecture.
dq 2
Different Views on Leadership (graded)
Using the NASA example in the lecture, examine other (quality) failures that have been attributed to leadership. Detail the background of the issue, then explain what went wrong. Finally, what do you think might have been some underlying reasons for the (quality) failure? Link your answer to the concepts of defining quality, quality strategy, and the Kano model from Weeks 1, 2, and 3 (respectively).
devry GSCM588 week 5 discussion dq 1 & dq 2
dq1
The Cost of Quality and Suppliers (graded)
Explain the cost of quality concept—both the advantages and disadvantages. Discuss how having an effective cost of quality program at suppliers can improve the overall quality of supplier-delivered components and services to the receiving organization.
dq 2
Lead and Lag Indicators (graded)
Explain the concept of lead and lag indicators. Why would the development of such a diagram aid organizations in developing a performance measurement system? Link your response to the discussion on quality strategy from Week 2 and the SWEATT model from Week 4.
devry GSCM588 week 6 discussion dq 1 & dq 2
dq 1
Quality Function Deployment (QFD) (graded)
Explain the concept of QFD. How do the elements of the QFD diagram link to our class discussions (e.g., the right side of the QFD diagram is all about defining quality). Then explain how the QFD diagram should be implemented in an organization and how the QFD diagram can be used cross functionally (across departments) to improve quality (you might want to review the approach of Crosby, from Week 2, as you answer this question).
dq 2
Process Management and Supplier Quality (graded)
Using the information from our text and the lecture material on process management, explain how some of the tools described (e.g., flowcharts, histograms, etc.) can be used to determine whether supplier quality is at the desired levels. Why would it be important for an organization to have a standard way of looking at (and evaluating) supplier quality relative to process management?
devry GSCM588 week 7 discussion dq 1 & dq 2
dq 1
Statistical Process Control (graded)
What is statistical process control? What does statistical controlmean? What is the difference between capability and control? What is the difference between repeatability and reproducibility? Please provide examples for each.
dq 2
Problem Solving and Supplier Quality (graded)
How can a problem-solving model be used to guide the process of quality improvement in an organization’s product and services? What are the advantages and disadvantages of using a problem-solving model (e.g., can problem-solving models slow down the problem-solving process)? Link your response to the need for suppliers to have a robust and effective problem-solving process.
dq 3
Cumulative Learning
This is a very important question for each student as he or she reflects on our learning during the course, because it factors into the upcoming Final Exam. Your answer should be two to three paragraphs long and demonstrate a holistic understanding of the course material.
Given our study of quality over the past 7 weeks, what value have you found relative to the study of quality? How have your views on quality developed over the course of our study? What have been the two outcomes from this course that you will be able to apply personally or professionally? Be sure to explain why.
devry GSCM588 week 4 midterm latest
1.
Question :
(TCO A) Who is in the best position to define quality for a product or service? Is it the customer, the producing organization, regulators? Of the three stakeholders listed, who has the most input in how quality is defined for a product or service? This answer must be in your own words—significant cut and paste from the text or other sources is not acceptable.
Question 2.
Question :
(TCO G) Explain the key management and organizational principles that are necessary for effective implementation of Six Sigma. This answer must be in your own words—significant cut and paste from the text or other sources is not acceptable.
Question 3.
Question :
(TCO D) Explain the value of using a quality award to drive quality improvement efforts at an organization or a supplier. Why do you think quality awards are not more well-known? How might organizations use quality awards to improve customer perception of quality? This answer must be in your own words—significant cut and paste from the text or other sources is not acceptable.
Question 4.
Question :
(TCO C) Compare Deming’s Theory of Profound Knowledge and Crosby’s Absolutes of Quality Management. Do these theories conflict or complement each other? This answer must be in your own words—significant cut and paste from the text or other sources is not acceptable.
Question 5.
Question :
(TCO A) Explain the Wisdom to Tradition model (Week 2 Lecture). How can the Wisdom to Tradition model be used improve the quality culture of an organization? This answer must be in your own words—significant cut and paste from the text or other sources is not acceptable.
Question 6.
Question :
(TCO E) Relative to a total customer service strategy (Week 3 Lecture), select one of the four major areas identified and discuss how the area you selected links to the concepts of the Kano model. This answer must be in your own words—significant cut and paste from the text or other sources is not acceptable.
Question 7.
Question :
(TCO E) Explain the concept of the Kano model. Why is it important for organizations to help customers establish Kano levels that are appropriately linked to the value trait of quality? This answer must be in your own words—significant cut and paste from the text or other sources is not acceptable.
Question 8.
Question :
(TCO C) What can the leadership of an organization do to ensure that quality issues, when they happen, reach the appropriate level of leadership? Link your response to the development of a robust quality strategy and the quality award process. This answer must be in your own words—significant cut and paste from the text or other sources is not acceptable.
devry GSCM588 all week course project ( 2,3,6&7)
GSCM588 Course Project Requirements
Topic Selection
1. Select a specific organization of interest to you and identify aquality management related problem(s) in the firm. Examples may be poor quality levels, high cost of quality, poor product or service design, high levels of internal or external failures, and so on. Feel free to add to this list if you need to.
2. You are taking on the role as a quality management consultant and the executives of your chosen organization have asked you to submit a recommended direction to implement a quality management initiative to address the quality management related problem(s) you identified above(e.g., Six Sigma, lean principles, TQM, SPC, balanced scorecard, etc.).
3. You also need to identify which of the course TCOs and specific topics in the Syllabus are related to the problem you identify.
Research Sources
1. All papers must have a minimum of eight scholarly sources (other than textbook) cited within the text of the paper and identified in the References section.
2. Additional research sources can be attached in an appendix.
3. All sources must be in two place: They need to be identified in the References section and must also have a corresponding citation in the body of the paper.
4. To access and use EBSCOhost for your research, use this link: Paper Format
1. All papers should be single sided, doublespaced, and written in12-point Times New Roman font.
2. The paper should be between 10 and 12 pages, excludingthe cover page, reference pages, and appendices.
3. The first page should include the title of the work, student name, address, telephone and e-mail address, course number, date, and instructor’s name.
4. Follow APA style for general format and citations.
5. Paper sections must adhere to the guidelines below and each section must be labeled in the text.
6. The language should be clear, concise, and precise.
7. The tone should be professional, consistent, and not filled with jargon.
8. Grammar and syntax (sentence structure) must be correct.
9. The report must be free of misspellings and typos.
Tables and Figures
1. All figures and tables must be referred to in your text before they appear on the page.
a. Figures and tables should appear on the same page as the text that refers to them, or on the next page.
2. All figures and tables need captions. Captions go below figures and above tables.
Quotations and Citations
1. Quotations and citations are crucial components of a research paper.
2. Failure to properly cite research sources and borrowed ideas is plagiarism.
3. Papers submitted without citations and references will be returned to the student with no grade.
4. Refer to the APA style guide for assistance with properly citing quoted and/or borrowed materials and ideas.
Milestones
WEEK ACTION REQUIRED
Week 1 Look forward in the weekly readings and lecturesand familiarize yourself with course content and then select an organization and problem area to research for ideas.
Week 2 Submit a written project proposal containing the following.
1. Follow the example GM588 Final Project Proposal outline provided in Doc Sharing.
Weeks3–6 Continue to work on the class project; seek instructor help as required.
Conduct library research on your topic.
1. Identify a minimum of eight scholarly resources for your project.
2. All resources for the paper should come from the DeVry library and must be of scholarly/journal quality.
3. Use the librarians for assistance in accessing materials.
Please note: Articles found online (consulting company websites, Internet magazines, or other blogs) will not be considered acceptable scholarly resources. Conduct your research through a library where you can be assured that the sources are of scholarly quality. For example, please do not use Wikipedia!
Week 7 Submitthe completed project to the assignment area for grading.
Project Outline
Please print out the Course Project Outline available in Doc Sharing and use it as a checklist while constructing your paper and again before you turn it in.
Your paper must include the following sections.
SECTION POINTS DESCRIPTION
Title Page 5 This should contain the title of your quality management research paper; your name, address, e-mail address, and telephone number;the course number and title; the instructor’s name; and the date.
Introduction 10 Provide an overview of the organization and give enough information about the firm to acquaint an unfamiliar person (no matter how famous the company). Identify the company’s name, location, size, and market segment (business line), and give a brief history. Identify the essential issues, events, or actions to help frame the problem and subsequent discussion points.
Problem Statement 15 Identify and clearly state the problem (the quality management issues that you have selected to research).
The problem statement should identify the major reason(s) for the recommended direction to implement a quality management initiative.
A well-formed problem statement has the following.
1. Focus: The problem should be well defined and specific enough for the reader to gain a clear idea of the quality management area and the direction of your study and research.
2. Structure: If the problem statement is sufficiently focused, it will provide a basis for decisions about which information to include and which to exclude from the paper.
3. Significance: The significance section is the area where you need to answer the magic question: “So what?” The significance makes your research worth it to the reader. It is great if you can link this more to quality and productivity issues and provide numbers to support your direction.
Literature Review 30 • You must address a minimum of eight scholarly resources in this section (excluding the textbook).
Provide an analysis and synthesis of the various authors from the research that significantly informed your analysis and proposed solutions.
You may have found conflicting opinions or theories related to your topic area. Identify and discuss any such contrasts and/or describe in detail significant agreement among your sources.
Your literature review should be separate and distinct from your analysis section; it is a summation of your research.
The “best practices” of quality management that were covered in the course and that link with your direction should be cited in this section.
Use subtitles as necessary.
Citations are a must!
Analysis 30 Explore the problem in depth and with scholarly rigor.
Provide an identification and description of the potential root causes of the problem or issue. Be sure not to address only symptoms of your problem. Diagnose the problem and its origins as best you can.
A critical element of this section is to apply the best practices of quality management concepts and models from the textbook, class discussions, and researched sources.
Discuss the concepts, ideas, or insights that are most valuable in helping you make sense of the causes of the problem. Support your analysis with reference to appropriate research material.
Citations are a must!
Recommendations
30 Identify the quality management initiative and recommended direction that you have chosen. Explain its relevance and significance in how it will address the quality management issue(s) and reason(s) that you identified in the problem statement area.
Citations are a must!
Note: Please remember in this section you also need to touch on how you will be able to measure success. Think of the “lead-lag” indicator concepts from the course readings and lectures.
Reflection 10 In this section, you are to reflect on your learning from this assignment. Identify the areas that you found most interesting and also identify areas that you feel will assist you most in your career.
References 10 You must use no fewer than eight library resources outside your textbook.
All references must be cited in two places: within the body of your paper and on a separate reference list. Choose references judiciously and cite them accurately. Cite all sources using APA format.
Please note: Citing an author’s work within your text documents your research, identifies the source for readers, and enables readers to locate the source of information in the alphabetical reference list at the end of the paper.
To use the ideas or words of another person without crediting the source is plagiarism. Plagiarism in its purest form involves copying passages either verbatim or nearly verbatim, with no direct acknowledgment of the source. The most common form of plagiarism is to paraphrase information from your source material. Paraphrasing does not relieve you of the obligation to provide proper identification of source data.
The best way to avoid plagiarism is to make sure all quotes, ideas, or conclusions not your own are given proper acknowledgment in your text. A key thought to remember is “If you did not write it, cite it!”
0 notes
Text
DEVRY GSCM588 FULL CLASS
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Devry GSCM588 Full Class
GSCM588 week 1 discussion dq 1 & dq 2
dq 1
Definition of Quality (graded)
Review the You Decide, then respond to the question below:
As a consultant who is sitting in on the meeting at Extrude-Rite, how would you advise the group to approach the development of a definition of quality? How can the various stakeholder concerns be addressed? How do the traits of quality need to be considered in this process?
dq 2
Supplier Quality (graded)
Why is it important that a supplier’s definition of quality link well to the receiving organization’s definition of quality?
devry GSCM588 week 2 discussion dq 1 & dq 2
dq 1
Quality Thought Leaders—Past and Present (graded)
Explain what a quality management philosophy is and then identify which quality guru best fits your organization’s quality management philosophy or the way that you would want your organization to operate. Dig deep into the thought leaders—perhaps a mix of approaches is the best approach. Be sure to explain why you feel this way.
dq 2
Quality Awards (graded)
In Doc Sharing, find the file labeled D-Quality Awards Guide_Roberson.docx. Choose an award from it and research it on the website. Provide some background on what your chosen award process is and list the advantages and disadvantages of the award. Identify whether it links to any of the quality management gurus’ philosophies. Be sure to explain why you feel this way.
devry GSCM588 week 3 discussion dq 1 & dq 2
dq 1
Kano Model (graded)
Explain how the Kano model can help organizations plan for and satisfy different types of customer groups. How might the Kano model help an organization define quality?
dq 2
Supplier Quality and the Voice of the Customer (VOC) (graded)
Explain the VOC concept, then link VOC to the supplier relationship with the receiving organization. Discuss the advantages and disadvantages of practicing VOC in this manner, taking into account areas in which mistakes in VOC can have detrimental results.
devry GSCM588 week 4 discussion dq 1 & dq 2
dq 1
SWEATT Model (graded)
In Doc Sharing, find the file labeled SWEATT Model and read the presentation. How can this model be used to guide leadership decision making and organizational behavior. Link your response to the Wisdom to Tradition model described in the Week 2 Lecture.
dq 2
Different Views on Leadership (graded)
Using the NASA example in the lecture, examine other (quality) failures that have been attributed to leadership. Detail the background of the issue, then explain what went wrong. Finally, what do you think might have been some underlying reasons for the (quality) failure? Link your answer to the concepts of defining quality, quality strategy, and the Kano model from Weeks 1, 2, and 3 (respectively).
devry GSCM588 week 5 discussion dq 1 & dq 2
dq1
The Cost of Quality and Suppliers (graded)
Explain the cost of quality concept—both the advantages and disadvantages. Discuss how having an effective cost of quality program at suppliers can improve the overall quality of supplier-delivered components and services to the receiving organization.
dq 2
Lead and Lag Indicators (graded)
Explain the concept of lead and lag indicators. Why would the development of such a diagram aid organizations in developing a performance measurement system? Link your response to the discussion on quality strategy from Week 2 and the SWEATT model from Week 4.
devry GSCM588 week 6 discussion dq 1 & dq 2
dq 1
Quality Function Deployment (QFD) (graded)
Explain the concept of QFD. How do the elements of the QFD diagram link to our class discussions (e.g., the right side of the QFD diagram is all about defining quality). Then explain how the QFD diagram should be implemented in an organization and how the QFD diagram can be used cross functionally (across departments) to improve quality (you might want to review the approach of Crosby, from Week 2, as you answer this question).
dq 2
Process Management and Supplier Quality (graded)
Using the information from our text and the lecture material on process management, explain how some of the tools described (e.g., flowcharts, histograms, etc.) can be used to determine whether supplier quality is at the desired levels. Why would it be important for an organization to have a standard way of looking at (and evaluating) supplier quality relative to process management?
devry GSCM588 week 7 discussion dq 1 & dq 2
dq 1
Statistical Process Control (graded)
What is statistical process control? What does statistical controlmean? What is the difference between capability and control? What is the difference between repeatability and reproducibility? Please provide examples for each.
dq 2
Problem Solving and Supplier Quality (graded)
How can a problem-solving model be used to guide the process of quality improvement in an organization’s product and services? What are the advantages and disadvantages of using a problem-solving model (e.g., can problem-solving models slow down the problem-solving process)? Link your response to the need for suppliers to have a robust and effective problem-solving process.
dq 3
Cumulative Learning
This is a very important question for each student as he or she reflects on our learning during the course, because it factors into the upcoming Final Exam. Your answer should be two to three paragraphs long and demonstrate a holistic understanding of the course material.
Given our study of quality over the past 7 weeks, what value have you found relative to the study of quality? How have your views on quality developed over the course of our study? What have been the two outcomes from this course that you will be able to apply personally or professionally? Be sure to explain why.
devry GSCM588 week 4 midterm latest
1.
Question :
(TCO A) Who is in the best position to define quality for a product or service? Is it the customer, the producing organization, regulators? Of the three stakeholders listed, who has the most input in how quality is defined for a product or service? This answer must be in your own words—significant cut and paste from the text or other sources is not acceptable.
Question 2.
Question :
(TCO G) Explain the key management and organizational principles that are necessary for effective implementation of Six Sigma. This answer must be in your own words—significant cut and paste from the text or other sources is not acceptable.
Question 3.
Question :
(TCO D) Explain the value of using a quality award to drive quality improvement efforts at an organization or a supplier. Why do you think quality awards are not more well-known? How might organizations use quality awards to improve customer perception of quality? This answer must be in your own words—significant cut and paste from the text or other sources is not acceptable.
Question 4.
Question :
(TCO C) Compare Deming’s Theory of Profound Knowledge and Crosby’s Absolutes of Quality Management. Do these theories conflict or complement each other? This answer must be in your own words—significant cut and paste from the text or other sources is not acceptable.
Question 5.
Question :
(TCO A) Explain the Wisdom to Tradition model (Week 2 Lecture). How can the Wisdom to Tradition model be used improve the quality culture of an organization? This answer must be in your own words—significant cut and paste from the text or other sources is not acceptable.
Question 6.
Question :
(TCO E) Relative to a total customer service strategy (Week 3 Lecture), select one of the four major areas identified and discuss how the area you selected links to the concepts of the Kano model. This answer must be in your own words—significant cut and paste from the text or other sources is not acceptable.
Question 7.
Question :
(TCO E) Explain the concept of the Kano model. Why is it important for organizations to help customers establish Kano levels that are appropriately linked to the value trait of quality? This answer must be in your own words—significant cut and paste from the text or other sources is not acceptable.
Question 8.
Question :
(TCO C) What can the leadership of an organization do to ensure that quality issues, when they happen, reach the appropriate level of leadership? Link your response to the development of a robust quality strategy and the quality award process. This answer must be in your own words—significant cut and paste from the text or other sources is not acceptable.
devry GSCM588 all week course project ( 2,3,6&7)
GSCM588 Course Project Requirements
Topic Selection
1. 1. Select a specific organization of interest to you and identify aquality management related problem(s) in the firm. Examples may be poor quality levels, high cost of quality, poor product or service design, high levels of internal or external failures, and so on. Feel free to add to this list if you need to.
2. 2. You are taking on the role as a quality management consultant and the executives of your chosen organization have asked you to submit a recommended direction to implement a quality management initiative to address the quality management related problem(s) you identified above(e.g., Six Sigma, lean principles, TQM, SPC, balanced scorecard, etc.).
3. 3. You also need to identify which of the course TCOs and specific topics in the Syllabus are related to the problem you identify.
Research Sources
1. 1. All papers must have a minimum of eight scholarly sources (other than textbook) cited within the text of the paper and identified in the References section.
2. 2. Additional research sources can be attached in an appendix.
3. 3. All sources must be in two place: They need to be identified in the References section and must also have a corresponding citation in the body of the paper.
4. 4. To access and use EBSCOhost for your research, use this link: Paper Format
5. 1. All papers should be single sided, doublespaced, and written in12-point Times New Roman font.
6. 2. The paper should be between 10 and 12 pages, excludingthe cover page, reference pages, and appendices.
7. 3. The first page should include the title of the work, student name, address, telephone and e-mail address, course number, date, and instructor’s name.
8. 4. Follow APA style for general format and citations.
9. 5. Paper sections must adhere to the guidelines below and each section must be labeled in the text.
10. 6. The language should be clear, concise, and precise.
11. 7. The tone should be professional, consistent, and not filled with jargon.
12. 8. Grammar and syntax (sentence structure) must be correct.
13. 9. The report must be free of misspellings and typos.
Tables and Figures
1. 1. All figures and tables must be referred to in your text before they appear on the page.
2. a. Figures and tables should appear on the same page as the text that refers to them, or on the next page.
3. 2. All figures and tables need captions. Captions go below figures and above tables.
Quotations and Citations
1. 1. Quotations and citations are crucial components of a research paper.
2. 2. Failure to properly cite research sources and borrowed ideas is plagiarism.
3. 3. Papers submitted without citations and references will be returned to the student with no grade.
4. 4. Refer to the APA style guide for assistance with properly citing quoted and/or borrowed materials and ideas.
Milestones
WEEK ACTION REQUIRED
Week 1 Look forward in the weekly readings and lecturesand familiarize yourself with course content and then select an organization and problem area to research for ideas.
Week 2 Submit a written project proposal containing the following.
1. 1. Follow the example GM588 Final Project Proposal outline provided in Doc Sharing.
Weeks3–6 Continue to work on the class project; seek instructor help as required.
Conduct library research on your topic.
1. 1. Identify a minimum of eight scholarly resources for your project.
2. 2. All resources for the paper should come from the DeVry library and must be of scholarly/journal quality.
3. 3. Use the librarians for assistance in accessing materials.
Please note: Articles found online (consulting company websites, Internet magazines, or other blogs) will not be considered acceptable scholarly resources. Conduct your research through a library where you can be assured that the sources are of scholarly quality. For example, please do not use Wikipedia!
Week 7 Submitthe completed project to the assignment area for grading.
Project Outline
Please print out the Course Project Outline available in Doc Sharing and use it as a checklist while constructing your paper and again before you turn it in.
Your paper must include the following sections.
SECTION POINTS DESCRIPTION
Title Page 5 This should contain the title of your quality management research paper; your name, address, e-mail address, and telephone number;the course number and title; the instructor’s name; and the date.
Introduction 10 Provide an overview of the organization and give enough information about the firm to acquaint an unfamiliar person (no matter how famous the company). Identify the company’s name, location, size, and market segment (business line), and give a brief history. Identify the essential issues, events, or actions to help frame the problem and subsequent discussion points.
Problem Statement 15 Identify and clearly state the problem (the quality management issues that you have selected to research).
The problem statement should identify the major reason(s) for the recommended direction to implement a quality management initiative.
A well-formed problem statement has the following.
1. 1. Focus: The problem should be well defined and specific enough for the reader to gain a clear idea of the quality management area and the direction of your study and research.
2. 2. Structure: If the problem statement is sufficiently focused, it will provide a basis for decisions about which information to include and which to exclude from the paper.
3. 3. Significance: The significance section is the area where you need to answer the magic question: “So what?” The significance makes your research worth it to the reader. It is great if you can link this more to quality and productivity issues and provide numbers to support your direction.
Literature Review 30 • You must address a minimum of eight scholarly resources in this section (excluding the textbook).
Provide an analysis and synthesis of the various authors from the research that significantly informed your analysis and proposed solutions.
You may have found conflicting opinions or theories related to your topic area. Identify and discuss any such contrasts and/or describe in detail significant agreement among your sources.
Your literature review should be separate and distinct from your analysis section; it is a summation of your research.
The “best practices” of quality management that were covered in the course and that link with your direction should be cited in this section.
Use subtitles as necessary.
Citations are a must!
Analysis 30 Explore the problem in depth and with scholarly rigor.
Provide an identification and description of the potential root causes of the problem or issue. Be sure not to address only symptoms of your problem. Diagnose the problem and its origins as best you can.
A critical element of this section is to apply the best practices of quality management concepts and models from the textbook, class discussions, and researched sources.
Discuss the concepts, ideas, or insights that are most valuable in helping you make sense of the causes of the problem. Support your analysis with reference to appropriate research material.
Citations are a must!
Recommendations
30 Identify the quality management initiative and recommended direction that you have chosen. Explain its relevance and significance in how it will address the quality management issue(s) and reason(s) that you identified in the problem statement area.
Citations are a must!
Note: Please remember in this section you also need to touch on how you will be able to measure success. Think of the “lead-lag” indicator concepts from the course readings and lectures.
Reflection 10 In this section, you are to reflect on your learning from this assignment. Identify the areas that you found most interesting and also identify areas that you feel will assist you most in your career.
References 10 You must use no fewer than eight library resources outside your textbook.
All references must be cited in two places: within the body of your paper and on a separate reference list. Choose references judiciously and cite them accurately. Cite all sources using APA format.
Please note: Citing an author’s work within your text documents your research, identifies the source for readers, and enables readers to locate the source of information in the alphabetical reference list at the end of the paper.
To use the ideas or words of another person without crediting the source is plagiarism. Plagiarism in its purest form involves copying passages either verbatim or nearly verbatim, with no direct acknowledgment of the source. The most common form of plagiarism is to paraphrase information from your source material. Paraphrasing does not relieve you of the obligation to provide proper identification of source data.
The best way to avoid plagiarism is to make sure all quotes, ideas, or conclusions not your own are given proper acknowledgment in your text. A key thought to remember is “If you did not write it, cite it!”
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GSCM 588 Full Course
http://hwpool.com/product/gscm-588-full-course/
Product Description
GSCM 588 Full Course
devry GSCM588 week 1 discussion dq 1 & dq 2
dq 1
Definition of Quality (graded)
Review the You Decide, then respond to the question below:
As a consultant who is sitting in on the meeting at Extrude-Rite, how would you advise the group to approach the development of a definition of quality? How can the various stakeholder concerns be addressed? How do the traits of quality need to be considered in this process?
dq 2
Supplier Quality (graded)
Why is it important that a supplier’s definition of quality link well to the receiving organization’s definition of quality?
devry GSCM588 week 2 discussion dq 1 & dq 2
dq 1
Quality Thought Leaders—Past and Present (graded)
Explain what a quality management philosophy is and then identify which quality guru best fits your organization’s quality management philosophy or the way that you would want your organization to operate. Dig deep into the thought leaders—perhaps a mix of approaches is the best approach. Be sure to explain why you feel this way.
dq 2
Quality Awards (graded)
In Doc Sharing, find the file labeled D-Quality Awards Guide_Roberson.docx. Choose an award from it and research it on the website. Provide some background on what your chosen award process is and list the advantages and disadvantages of the award. Identify whether it links to any of the quality management gurus’ philosophies. Be sure to explain why you feel this way.
devry GSCM588 week 3 discussion dq 1 & dq 2
dq 1
Kano Model (graded)
Explain how the Kano model can help organizations plan for and satisfy different types of customer groups. How might the Kano model help an organization define quality?
dq 2
Supplier Quality and the Voice of the Customer (VOC) (graded)
Explain the VOC concept, then link VOC to the supplier relationship with the receiving organization. Discuss the advantages and disadvantages of practicing VOC in this manner, taking into account areas in which mistakes in VOC can have detrimental results.
devry GSCM588 week 4 discussion dq 1 & dq 2
dq 1
SWEATT Model (graded)
In Doc Sharing, find the file labeled SWEATT Model and read the presentation. How can this model be used to guide leadership decision making and organizational behavior. Link your response to the Wisdom to Tradition model described in the Week 2 Lecture.
dq 2
Different Views on Leadership (graded)
Using the NASA example in the lecture, examine other (quality) failures that have been attributed to leadership. Detail the background of the issue, then explain what went wrong. Finally, what do you think might have been some underlying reasons for the (quality) failure? Link your answer to the concepts of defining quality, quality strategy, and the Kano model from Weeks 1, 2, and 3 (respectively).
devry GSCM588 week 5 discussion dq 1 & dq 2
dq1
The Cost of Quality and Suppliers (graded)
Explain the cost of quality concept—both the advantages and disadvantages. Discuss how having an effective cost of quality program at suppliers can improve the overall quality of supplier-delivered components and services to the receiving organization.
dq 2
Lead and Lag Indicators (graded)
Explain the concept of lead and lag indicators. Why would the development of such a diagram aid organizations in developing a performance measurement system? Link your response to the discussion on quality strategy from Week 2 and the SWEATT model from Week 4.
devry GSCM588 week 6 discussion dq 1 & dq 2
dq 1
Quality Function Deployment (QFD) (graded)
Explain the concept of QFD. How do the elements of the QFD diagram link to our class discussions (e.g., the right side of the QFD diagram is all about defining quality). Then explain how the QFD diagram should be implemented in an organization and how the QFD diagram can be used cross functionally (across departments) to improve quality (you might want to review the approach of Crosby, from Week 2, as you answer this question).
dq 2
Process Management and Supplier Quality (graded)
Using the information from our text and the lecture material on process management, explain how some of the tools described (e.g., flowcharts, histograms, etc.) can be used to determine whether supplier quality is at the desired levels. Why would it be important for an organization to have a standard way of looking at (and evaluating) supplier quality relative to process management?
devry GSCM588 week 7 discussion dq 1 & dq 2
dq 1
Statistical Process Control (graded)
What is statistical process control? What does statistical controlmean? What is the difference between capability and control? What is the difference between repeatability and reproducibility? Please provide examples for each.
dq 2
Problem Solving and Supplier Quality (graded)
How can a problem-solving model be used to guide the process of quality improvement in an organization’s product and services? What are the advantages and disadvantages of using a problem-solving model (e.g., can problem-solving models slow down the problem-solving process)? Link your response to the need for suppliers to have a robust and effective problem-solving process.
dq 3
Cumulative Learning
This is a very important question for each student as he or she reflects on our learning during the course, because it factors into the upcoming Final Exam. Your answer should be two to three paragraphs long and demonstrate a holistic understanding of the course material.
Given our study of quality over the past 7 weeks, what value have you found relative to the study of quality? How have your views on quality developed over the course of our study? What have been the two outcomes from this course that you will be able to apply personally or professionally? Be sure to explain why.
devry GSCM588 week 4 midterm latest
1.
Question :
(TCO A) Who is in the best position to define quality for a product or service? Is it the customer, the producing organization, regulators? Of the three stakeholders listed, who has the most input in how quality is defined for a product or service? This answer must be in your own words—significant cut and paste from the text or other sources is not acceptable.
Question 2.
Question :
(TCO G) Explain the key management and organizational principles that are necessary for effective implementation of Six Sigma. This answer must be in your own words—significant cut and paste from the text or other sources is not acceptable.
Question 3.
Question :
(TCO D) Explain the value of using a quality award to drive quality improvement efforts at an organization or a supplier. Why do you think quality awards are not more well-known? How might organizations use quality awards to improve customer perception of quality? This answer must be in your own words—significant cut and paste from the text or other sources is not acceptable.
Question 4.
Question :
(TCO C) Compare Deming’s Theory of Profound Knowledge and Crosby’s Absolutes of Quality Management. Do these theories conflict or complement each other? This answer must be in your own words—significant cut and paste from the text or other sources is not acceptable.
Question 5.
Question :
(TCO A) Explain the Wisdom to Tradition model (Week 2 Lecture). How can the Wisdom to Tradition model be used improve the quality culture of an organization? This answer must be in your own words—significant cut and paste from the text or other sources is not acceptable.
Question 6.
Question :
(TCO E) Relative to a total customer service strategy (Week 3 Lecture), select one of the four major areas identified and discuss how the area you selected links to the concepts of the Kano model. This answer must be in your own words—significant cut and paste from the text or other sources is not acceptable.
Question 7.
Question :
(TCO E) Explain the concept of the Kano model. Why is it important for organizations to help customers establish Kano levels that are appropriately linked to the value trait of quality? This answer must be in your own words—significant cut and paste from the text or other sources is not acceptable.
Question 8.
Question :
(TCO C) What can the leadership of an organization do to ensure that quality issues, when they happen, reach the appropriate level of leadership? Link your response to the development of a robust quality strategy and the quality award process. This answer must be in your own words—significant cut and paste from the text or other sources is not acceptable.
devry GSCM588 all week course project ( 2,3,6&7)
GSCM588 Course Project Requirements
Topic Selection
1. Select a specific organization of interest to you and identify aquality management related problem(s) in the firm. Examples may be poor quality levels, high cost of quality, poor product or service design, high levels of internal or external failures, and so on. Feel free to add to this list if you need to.
2. You are taking on the role as a quality management consultant and the executives of your chosen organization have asked you to submit a recommended direction to implement a quality management initiative to address the quality management related problem(s) you identified above(e.g., Six Sigma, lean principles, TQM, SPC, balanced scorecard, etc.).
3. You also need to identify which of the course TCOs and specific topics in the Syllabus are related to the problem you identify.
Research Sources
1. All papers must have a minimum of eight scholarly sources (other than textbook) cited within the text of the paper and identified in the References section.
2. Additional research sources can be attached in an appendix.
3. All sources must be in two place: They need to be identified in the References section and must also have a corresponding citation in the body of the paper.
4. To access and use EBSCOhost for your research, use this link: Paper Format
1. All papers should be single sided, doublespaced, and written in12-point Times New Roman font.
2. The paper should be between 10 and 12 pages, excludingthe cover page, reference pages, and appendices.
3. The first page should include the title of the work, student name, address, telephone and e-mail address, course number, date, and instructor’s name.
4. Follow APA style for general format and citations.
5. Paper sections must adhere to the guidelines below and each section must be labeled in the text.
6. The language should be clear, concise, and precise.
7. The tone should be professional, consistent, and not filled with jargon.
8. Grammar and syntax (sentence structure) must be correct.
9. The report must be free of misspellings and typos.
Tables and Figures
1. All figures and tables must be referred to in your text before they appear on the page.
a. Figures and tables should appear on the same page as the text that refers to them, or on the next page.
2. All figures and tables need captions. Captions go below figures and above tables.
Quotations and Citations
1. Quotations and citations are crucial components of a research paper.
2. Failure to properly cite research sources and borrowed ideas is plagiarism.
3. Papers submitted without citations and references will be returned to the student with no grade.
4. Refer to the APA style guide for assistance with properly citing quoted and/or borrowed materials and ideas.
Milestones
WEEK ACTION REQUIRED
Week 1 Look forward in the weekly readings and lecturesand familiarize yourself with course content and then select an organization and problem area to research for ideas.
Week 2 Submit a written project proposal containing the following.
1. Follow the example GM588 Final Project Proposal outline provided in Doc Sharing.
Weeks3–6 Continue to work on the class project; seek instructor help as required.
Conduct library research on your topic.
1. Identify a minimum of eight scholarly resources for your project.
2. All resources for the paper should come from the DeVry library and must be of scholarly/journal quality.
3. Use the librarians for assistance in accessing materials.
Please note: Articles found online (consulting company websites, Internet magazines, or other blogs) will not be considered acceptable scholarly resources. Conduct your research through a library where you can be assured that the sources are of scholarly quality. For example, please do not use Wikipedia!
Week 7 Submitthe completed project to the assignment area for grading.
Project Outline
Please print out the Course Project Outline available in Doc Sharing and use it as a checklist while constructing your paper and again before you turn it in.
Your paper must include the following sections.
SECTION POINTS DESCRIPTION
Title Page 5 This should contain the title of your quality management research paper; your name, address, e-mail address, and telephone number;the course number and title; the instructor’s name; and the date.
Introduction 10 Provide an overview of the organization and give enough information about the firm to acquaint an unfamiliar person (no matter how famous the company). Identify the company’s name, location, size, and market segment (business line), and give a brief history. Identify the essential issues, events, or actions to help frame the problem and subsequent discussion points.
Problem Statement 15 Identify and clearly state the problem (the quality management issues that you have selected to research).
The problem statement should identify the major reason(s) for the recommended direction to implement a quality management initiative.
A well-formed problem statement has the following.
1. Focus: The problem should be well defined and specific enough for the reader to gain a clear idea of the quality management area and the direction of your study and research.
2. Structure: If the problem statement is sufficiently focused, it will provide a basis for decisions about which information to include and which to exclude from the paper.
3. Significance: The significance section is the area where you need to answer the magic question: “So what?” The significance makes your research worth it to the reader. It is great if you can link this more to quality and productivity issues and provide numbers to support your direction.
Literature Review 30 • You must address a minimum of eight scholarly resources in this section (excluding the textbook).
Provide an analysis and synthesis of the various authors from the research that significantly informed your analysis and proposed solutions.
You may have found conflicting opinions or theories related to your topic area. Identify and discuss any such contrasts and/or describe in detail significant agreement among your sources.
Your literature review should be separate and distinct from your analysis section; it is a summation of your research.
The “best practices” of quality management that were covered in the course and that link with your direction should be cited in this section.
Use subtitles as necessary.
Citations are a must!
Analysis 30 Explore the problem in depth and with scholarly rigor.
Provide an identification and description of the potential root causes of the problem or issue. Be sure not to address only symptoms of your problem. Diagnose the problem and its origins as best you can.
A critical element of this section is to apply the best practices of quality management concepts and models from the textbook, class discussions, and researched sources.
Discuss the concepts, ideas, or insights that are most valuable in helping you make sense of the causes of the problem. Support your analysis with reference to appropriate research material.
Citations are a must!
Recommendations
30 Identify the quality management initiative and recommended direction that you have chosen. Explain its relevance and significance in how it will address the quality management issue(s) and reason(s) that you identified in the problem statement area.
Citations are a must!
Note: Please remember in this section you also need to touch on how you will be able to measure success. Think of the “lead-lag” indicator concepts from the course readings and lectures.
Reflection 10 In this section, you are to reflect on your learning from this assignment. Identify the areas that you found most interesting and also identify areas that you feel will assist you most in your career.
References 10 You must use no fewer than eight library resources outside your textbook.
All references must be cited in two places: within the body of your paper and on a separate reference list. Choose references judiciously and cite them accurately. Cite all sources using APA format.
Please note: Citing an author’s work within your text documents your research, identifies the source for readers, and enables readers to locate the source of information in the alphabetical reference list at the end of the paper.
To use the ideas or words of another person without crediting the source is plagiarism. Plagiarism in its purest form involves copying passages either verbatim or nearly verbatim, with no direct acknowledgment of the source. The most common form of plagiarism is to paraphrase information from your source material. Paraphrasing does not relieve you of the obligation to provide proper identification of source data.
The best way to avoid plagiarism is to make sure all quotes, ideas, or conclusions not your own are given proper acknowledgment in your text. A key thought to remember is “If you did not write it, cite it!”
0 notes
Text
Realty Matters: Risk Management
When talking to prospective clients for my property management business, I always say, “rental property management is really about Risk Management.” I often tell the story of a client, who had previously decided to self-manage. Although he always tried to do the right thing, a small, innocent error led to a spiraling sequence of unfortunate events. The story was an example of how small errors may go undetected, unknown, and remain unrealized, until something goes wrong. Consequences in total were severe, not only financial misfortune, but it also left a lasting and profound psychological impact. But, if nothing goes wrong, is there any risk?
Risk is measured using statistics and derived from both quantitative components and qualitative factors. Qualitative factors are a challenge, particularly for individual or small unit-count property investments. Included are interpersonal relationship dynamics, such as behavior, which is possible to recognize but a challenge to quantify.
Qualitative risk management planning effectively reduces or eliminates consequences — and is the focus of this column — with most benefits achievable without statistics. An annual assessment exercise allows most real estate investors to improve business practices, whether doing rehabs, long-term holds, lending, or some combination. It is not difficult with the right tools and understanding and will elevate your business to the next level resulting in larger gains and smaller losses. Critical thinking and arithmetic are the only things necessary for implementation.
Statistics Deconstructed
The path to eliminate problems before they occur
Calculating risk is an attempt to determine probability of an outcome. A conceptual understanding of how those numbers are derived is critical for effective implementation of risk management practices. A grasp of risk theory only requires a bell curve illustration and a sprinkling of a few statistical terms when combined with practical real estate examples.
The bell curve figure has a symmetrical area under the curve that (eventually) totals 1.00 (one). Where:
μ = [mu, (pronounced “mew”)] is the data mean, the average, (expected outcome or return)
𝝈 = [sigma] the standard deviation, shows six equidistant intervals, known as the range (99.7% of 1.00)
Any given point in the graph is a probability of an event or an accumulated series of events. Events are plotted in relation to the frequency they occur (height) and distance from average (left or right of centerline). Closely plotted points indicate the deviation from average is low; loosely plotted points mean less predictability (the deviation from average is high).
Grasping the concept of risk theory is important for Risk Management planning
Roughly speaking, events that occur with high frequency are prone to have more variation than events that occur less frequently while less frequent events may mean less variation. Symmetrically speaking, consider that high frequency events having low consequence may have an aggregate severity equal to low frequency events having high consequence. Reducing variation of outcome through tighter controls reduces total severity of consequence, which is how you will apply risk management to your business.
Example of Risk Management indicators in real estate
Imagine two Renters, A & B. Renter A paid rent consistently late, on the fourth day of the month with rarely any variation. Plotted on the curve, the average would show a high frequency of late rent as averaging –four. Renter B is different. The average is one, which would indicate rent is paid on average a day early. Except many of the plots are largely spread out into the negative teens and twenties, with a few plots at 30, 40, and 60. Which has higher variation? Which has more risk? Which can you be more confident of getting paid rent on a given day?
As a separate event, the number of opportunities that a basement will flood may be far less than opportunities for rent to be paid on time, yet, the financial consequence may be quite severe. A sump pump with battery backup is installed, so all should be okay, right? Now evaluate the same two renter households. Consider Renter A vs. Renter B. Would you consider the likelihood of tampering with the sump pump between Renter A and Renter B as the same? Why or why not?
Statistics attempt to bring together all events of different types, each having probabilities and frequencies of their own, and normalize them into a single measure (expected outcome) that you determine is important. Managing the causal factors that impact the outcome is up to you.
Application of Risk Management Principles without Statistics
The key is to identify possible causes that prevent achieving the expected outcome.
It has been established now, with the iterative cycle of real estate operations, even though an event never gets tested or realized (a failure does not occur), that risk remains inherit in the system. A step most overlooked is a critical thinking exercise that accounts for possibilities of what can go wrong. Possibilities considered are possibilities managed. Proactive vs. Reactive.
Identification of 95 percent of causes are either obvious or routine enough to identify with a smidge of critical thinking. Reducing variation and consequences of those causes is a qualitative and subjective exercise. Tighter controls and mitigation plans are how risk management can be applied to your business to reduce losses and improve gains. The sum of all the individual multi-factorial events and iterative processes (e.g., getting paid rent on time, having contractors show up on time, detecting water leaks or pests before they become a problem, etc.), over time add up to the expected outcome.
Risk Management Methodology
There is a simple methodology that does not require the use of any statistics to assist with managing mistake-prone qualitative risk factors:
Consider what can go wrong (this is often the hardest part)
Determine how bad the outcome would be (consequences)
Determine how likely it is to happen (likelihood of occurrence)
Determine the risk level of the event with application of a risk score
Manage the event; eliminate or reduce the likelihood; mitigate the consequence.
How it works:
Below are some examples to subjectively score criteria. Consequence criteria may be how severely could it cause financial or legal harm and likelihood indicates likeliness or propensity for realization.
With each event, determine the consequence and likelihood of occurrence to apply a risk score and determine if it requires some form of mitigation management. With Renter B, for example, perhaps a remote monitoring alarm should be installed that would warn you of a high-water level. Consider how to mitigate, and then re-assess:
Eliminate the possibility for the event from happening (risk of ceiling fan breaking, replace with a dome light instead if the market isn’t sensitive to having ceiling fans).
Substitute with an alternative option (unreliable and poor-quality maintenance contractor, utilize a more competent and professional contractor that gets it done right the first time).
Utilize automation and controls (put in place as a proxy assistant to make operations easier and results in less hassle for both you and the tenant — could be software and hardware).
Administrative controls with clear policies and procedures (move-in and move-out procedures, and security deposit management are a big source of dispute, or have your own Terms and Conditions, or quality standards that you expect contractors to follow).
Develop policies, procedures, practices and guidelines, for renters and contractors to mitigate against possible symptoms of dispute. Provide training, instruction, and supervision.
The matrix shown above is an interactive spreadsheet that contains a series of multiple worksheets with internal linking as a roadmap to assist with Risk Management planning. It is available for download through the links provided at RealtyMatters.Online/Column/June-2020. It contains an exhaustive list of 60+ categorized risk components that is applicable to most investment strategies. Go to the links identified to get your free copy.
Please Tell Me What You Think
For those statisticians reading, please tell me how I did.
A simplified Risk Management Approach in Real Estate online course or module for the individual small unit-count investor category is lacking. Would you find value with something like that? Write to me and let me know. Go to RealtyMatters.Online
For Column Notes, Resources and Language Translation for this Column, go to:
RealtyMatters.Online/Column/June-2020
The post Realty Matters: Risk Management appeared first on Think Realty | A Real Estate of Mind.
from Real Estate Tips https://thinkrealty.com/realty-matters-risk-management/
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How to Increase Productivity in a Highly Collaborative Remote Workspace
In this digital age, where workspaces are dominated by Millennials and their wanderlust mindset, the term “collaboration” takes on new meanings.
You are probably aware that freelancing and remote working is a rising trend among Millennials. While it’s great to be able to work together from remote (even exotic) locations spread across the globe by collaborating over the internet, albeit if not done right, productivity can take a toll.
In these days of Six Sigma and Kanban, managers (and employers at large) take productivity very seriously. And why shouldn’t they? The competition among businesses and companies in every industry today is ridiculous. Furthermore, nowadays, both the employers and the employees tend to give “work-life balance” a very high priority. So, employers would certainly want to get the most out of their employees and optimize their productivity to the absolute fullest.
Productivity in traditional workplaces has been a function of many variegated factors, such as:
Desk design: The employee’s desk is their core working space and should be designed carefully, in a way that facilitates communication as well as allows some privacy. The trick is to strike the right balance between the two.
Office environment: The general design of the office also plays a major role in the employee’s productivity. It affects more than just simple ergonomics and can have a profound impact on the employee’s overall health and wellbeing. So, having adequate lighting, ventilation, and air-conditioning is as important as having well-designed conference rooms, hallways, and lounges.
Personalization: It is believed that personalizing your space can increase your emotional connection to your work. Small, non-cluttering personal items such as desk toys, photo frames, etc. may help make the employee feel more at home and improve concentration, thus boosting productivity.
Work culture: Creating a positive company culture is directly linked with the level of productivity of the workers. This is quite simply an undeniable fact but is still often overlooked by large corporates. A positive work culture is one which fosters a sense of belonging among employees, encourages them to take frequent breaks to recharge, and promotes open collaboration across different teams.
Software tools: The quality of software tools (and resources in general) available to the workers is a critical factor affecting their level of productivity and output.
These are just some of the many factors that affect the productivity of employees working in a regular corporate office.
However, when we talk about a remote workspace, such as a home office or a beach house in the Bahamas, it’s the employee who’s the boss of their desk design and work environment. The workspace would be then (by default) personalized and optimized according to their liking, and so, these no longer remain the controllable factors affecting their productivity. As a matter of fact, a 2017 study by the University of Minnesota suggests that ‘creative geniuses’ prefer a cluttered, busy workspace.
Of course, there are always tips and tactics to help design an ideal home office which is comfortable yet serious.
But what still remains the same is the software being used by the workers to perform the actual tasks. Typically, the software tools are standardized across the company and so the employer still plays an important role in influencing the productivity of employees in this regard.
Simply put, increasing productivity in a highly collaborative, virtual workspace of telecommuters comes down to the company’s choice of software. And for the tech-savvy Millennials, however, software is more than just a mere tool to complete a task. Just as a lot of thought process goes into designing a highly productive physical workspace – architecture, interior design, structural design, etc. – the same is true for a virtual workspace.
It takes a good deal of creativity and design thinking to produce software that gives a great User Experience (UX), and in turn, increases productivity. Moreover, software with a gorgeous User Interface (UI) motivates the workers to do more.
So, let us take a quick look at some remote collaboration tools that truly stand out from the crowd when it comes to boosting productivity with a stellar UI/UX. As a bonus, the listed tools will be pocket-friendly but not compromising on quality.
Remote Collaboration Tools
Tools for Swift and Crisp Communication
While back-and-forth emailing serves the purpose of communication, there are countless tools and apps (free and paid) that offer all-in-one communication services: voice calling, video calling, screen sharing, and instant messaging, over the internet. But only a handful of them are noteworthy and actually boost productivity instead of increasing the hassle.
As you may have already guessed, Slack rules the charts here. With competitive pricing and a compelling free plan boasting all the features you could possibly need, it’s no wonder Slack is the global benchmark of instant messengers.
Popular quality alternatives include Google Hangouts and Skype which possess all the features but feel slightly inferior to Slack in terms of the interface and intuitiveness.
Tools for Collaborative Task Management
Being on the same page can be challenging, especially when you and your colleagues are thousands of miles away. Thankfully, there are apps that help streamline work, track progress, and promote productivity and accountability across the team.
Asana is one of the notable ones because it doesn’t overwhelm you with a barrage of advanced features and just offers all the basics – creating calendars, assigning tasks, and setting priorities – in a neatly designed package. Trello is a great alternative which takes a Kanban approach to project management, with intuitive boards and drag-and-drop cards.
Both are very budget-friendly and Trello’s free plan is more than enough for startups and small businesses.
Tools for Collaborative Documentation
No business or company exists without documentation. Although documentation can be tedious, a good user interface can help make things interesting and speed things up.
Google Drive unarguably deserves the top spot when it comes to creating documents, spreadsheets, presentations, forms – you name it, in a collaborative environment. It is fast, free, user-friendly, and the ease of collaboration (real-time too) is unbeatable.
When you think of PDFs, you think of Adobe. It has all the features to get the job done. However, it’s a little pricey and the interface is bland. And a poor user interface won’t do any good to your overall productivity.
Fortunately, there are free alternatives to Adobe such as the Icecream PDF Editor which has a minimalistic and clean design and is completely free – including PDF text editing. It allows you to annotate (add comments and notes) which is very useful when collaborating remotely.
Wrapping Up
The advent of the internet has allowed us to work together from anywhere in the world. Ensuring maximum efficiency while working in the comfort of our desired location boils down to the software we use. This post elaborates on some freemium tools and apps that have just the right features and a beautiful interface to collaborate effectively and improve productivity when telecommuting.
Image: Shutterstock
This article, “How to Increase Productivity in a Highly Collaborative Remote Workspace” was first published on Small Business Trends
https://smallbiztrends.com/
The post How to Increase Productivity in a Highly Collaborative Remote Workspace appeared first on Unix Commerce.
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