Business Process Improvement Essay Example | Topics and Well Written Essays - 1250 words

Business Process Improvement - Essay Example Harrington (1991) suggested that BPI concentrates more on doing the things right in order to best utilize the resources that will lead to the achievement of the desired outcome. According to Harrington (1991), this systemic approach works through the alignment of the business against with the strategic goals and purposes of the organization. On the one hand, one among the processes that can translate the success of business is through performance management of its human resource. Maximizing the resources, in particular, the human resource, in business aligned with the company’s goals will aid the organization for improvement. According to Daniels and Daniels (2004), performance management is the process of handling the critical elements of performance namely the behavior and results. Handling these elements will guarantee that the employees are meeting the agreed standards which bring about higher productivity and motivation. However, performance management has its very own sh ortcomings (Dooren, no date) which are lack of integration, decision challenges, lack of leadership support, incompetence, communication challenges, inspiration challenges, lack of monitoring, lack of evaluation, and implementation failure as identified by Saravanja (Regenesys, 2011). In this regard, this paper grasps the real need for improvement of implementation of performance management. Given this, this research mainly delves at strategically addressing the shortcomings of performance management, specifically, its implementation issues. In addressing the problem area of performance management, it points toward proposing a program to strategically improve the problem. Operations Management as a Discipline According to Samson and Singh (2008), operations management is an area of management which deals with the controlling, designing and re – designing its particular operations of business that is meant for creating goods and services. This field of management takes in the accountability of making sure that the organization is operating at its best in order to perform its most efficient functioning through utilizing only few needed resources. Moreover, this approach is made up of strategic design, organization, formation, preparation as well as implementing the tasks that can be bought long – term or short – term. In addition to that, such process is concerned with making the overall operations in business even more tightly interconnected than they have been previously. In this regard, the operations managers should act together with other managers within the organization to ensure a smooth business operation. The Processes of Stakeholders The stakeholders’ involvement in business processes is manifold. Meanwhile, the biggest part done by the stakeholders is their involvement in the decision making processes. This makes the stakeholders play an even increased major role in management. According to Yosie and Herbst (1998), those in volved in stakeholder processes are also engaged in a wide array of problem solving options though such have its very own strengths and weaknesses. A specific definition of stakeholder does not exist but what is known is that they participate in advising committees, offering optional dispute answer, solving processes, negotiation of regulations, as well as making decisions (Yosie & Herbst, 1998). In this case, performance management is also part of the stakeholders’ processes. Performance managem

Export-Import Bank Case Study Example | Topics and Well Written Essays - 500 words

Export-Import Bank - Case Study Example Ex-Im began issuing loan guarantees after thirty years of existence. This move aimed at encouraging commercial banks to take part in export markets. Loan guarantees focused on reducing the administrative obligations of commercial banks. Loan guarantees surpassed direct loans, making insurance to become popular. Ex-Im guarantees 90% of the outstanding balance of working capital loans from a commercial bank to an exporter. It only authorized transactions that had a reasonable assurance of repayment. It offers medium and long-term coverage for transactions by providing an 85% guarantee. In this case, a 15% deposit is required from the buyer. Ex-Im charges the following costs on direct loans and medium and long-term guarantees; Export-Import bank charged fixed interest rates on loans that were set at the Commercial Interest Reference Rate (CIRR). The cost of direct loans was static; that is, it was set after numerous negotiations among countries in the OECD (organization for Economic Co-operation and Development). All medium and long-term guarantees were subject to a ‘one-off’ exposure fee. The exposure fee was determined by the degree of transactional risk. For example, scheduled payments from Amal to Wells Fargo were subject to a 0.2 exposure risk value. The beta constitutes the transactional risk for the scheduled payments. Ex-Im would charge a 0.2 exposure fee for the transactional risk. Importer payment obligations differed from those of foreign buyers of a U.S. product. Direct loans and guarantees of importer payment obligations are influenced by various aspects such as; market risk premium of the destination country, the repayment period, percentage of exports covered, and whether the exposure fee was financed or paid in advance. Each country has a baseline fee set for sovereign borrowers. Non-sovereign borrowers are subject to a transaction risk increment higher than the