The Fundamental Parts of a Business

Responding to Malcolm 

I am impressed by how you have focused on the business process as a fundamental part of a business. It is true that the process can be approached from a general direction as an entire unit or by looking into a particular section of the process. It is always important for a company to look for ways of developing a competitive edge over other players in the same industry. You have detailed the consequences that a business will face if fails to develop a process to guide its operations. I also like how you emphasized that business processes are not static and therefore needs to be reviewed from time to time and improved using statistical tools such as SIPOC. Your presentation is organized in a structure that communicates the intent of the writer. The structure addresses major factors such as the business and competitors and the role of statistical tools. The external and internal factors affect organizations and businesses. I would like to add that one could maximize on technology and statistical tools to maximize their profit. However, it would have been better if you had provided an example or a scenario to elaborate your arguments.

Responding to Andrew 

Andrew, I like how you have tried to link what we have learned in the class especially in classifying tasks as processes. I found it intriguing when you combined the lesson with the experiences you have had as a father and a coach in handling a process. I agree that processes are best taught when repeated in segments than when taught as a whole. Your submission is important, as it has enlightened me on handling things in sections rather than a mass approach that may be confusing in the end. However, I realized that you did not identify a specific tool he has learned in the statistics class. That notwithstanding, you went ahead to provide a practical application of the statistical knowledge that you have acquired to a business venture. Your idea of having an Excel tracking system that will help him keep track his financial and investment trend using a bar graph is thought provoking. I think I might try something like that as well. Although this is a general approach since many tools in excel can plot a graph, it is still encouraging to see such a visionary application of the lessons.