Week 5 Discussion 1
Business of Program Evaluation: ROI
The process for measuring return on investment (ROI) is a comprehensive, systematic methodology that includes defining the types of data, conducting an initial analysis, developing objectives, forecasting value (including ROI), using the ROI process model, and implementing and sustaining the process. This chapter presents a business approach to evaluation using ROI. We begin with a discussion of why a business approach to evaluation is needed. Then we explain why and how the ROI process can help business achieve the level of accountability demanded in today’s economic climate for both public and private settings.
WHY A BUSINESS APPROACH?
“Show me the money.” There is nothing new about the statement, especially in business. Organizations of all types want value for their investments, and the ultimate value is the financial return on that investment. What’s new is the method that organizations use. While ROI is the ultimate report of value, organization leaders recognize that value lies in the eye of the beholder; therefore, the method used to show the money must also show the value as perceived by all stakeholders.
Measuring ROI represents the newest value statement. In the past, program or project success was measured by activity: number of people involved, money spent, hours involved, and so forth. Today the value definition has shifted: value is defined by results versus activity.
Mosele, J. & Dessinger, J. (2009). Handbook of Improving Performance in the Workplace. (Volume 3). Pfeiffer-Wiley
To prepare for this Discussion, pay particular attention to the following Learning Resources:
- Review this week’s Learning Resources, especially:
- Read Week 5 Lecture – See Word doc.
- Read Chapter 13-15 – See Word doc
Assignment:
Respond to two of your colleagues’ posts in one or more of the following ways:
- Ask a clarifying question about your colleague’s description of their response
- Suggest one or more additional feedback your colleague could use regarding subject.
- Relate an example from your own experience of a positive, effective, and/or to what your colleague shared.
- 3 – 4 paragraphs
- No plagiarism
- APA citing
1st Colleague – Piper Stewart
Piper Stewart
Week 5
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Company : Nike
Although Nike is the market leader in the Sports segments but there are certain areas in which I will is stopping company from further development. NIKE apparel is supplied by around 430 apparel factories located in 41 countries; majority of this apparel production was undertaken in China, Vietnam, Thailand, Indonesia, Sri Lanka, Pakistan and Malaysia. Therefore, any failure on the part of manufacturers to achieve and maintain high manufacturing standards could result in manufacturing errors resulting in product recalls or withdrawals, delays or interruptions in production, cost overruns or other problems that could seriously harm the company’s business. The company’s reliance on independent contract manufacturers makes it difficult to ensure the quality of the goods sold in its outlets and may lead to product recalls. This, in turn, could have an adverse effect on customer retention and brand loyalty. To to evade from this problem, Nike should start manufacturing their on products to prevent counterfeit products manufacturing and improve quality of these products. Nikes is very successful but has issues with trying to stay relevant and up to date on climate crisis. Sometimes their marketing uses the wrong words and can come off looking ignorant as a company. It is important for them to do research, especially in this day and age of cancelling, to be more self-aware of the bright light they can shine on real world issues. A post on NIKE worded their opportunities perfectly by stating, “fleshing out the notions of circularity and “waste as resource,” and reframing sustainability as applying to ongoing progress, not products themselves – or doing away with the term entirely – are potential starting points” (Camblin,2014). On top of NIKE has a competitive advantage, individual triumph, and essentially winning to one of collective action, they can now add empathy to their list of accomplishes.
Camblin, V. (2020, February 14). Nike in 2020: Strengths, Weaknesses, Opportunities, Threats. 032c. https://032c.com/magazine/nike-in-2020-swot
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2nd Colleague – Steven Cole
Steven Cole
Cole Discussion- Week 5
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Evaluations can articulate and paint an accurate picture of the business is operating and functioning, if used effectively. While the Fortune 500 company of Walmart continues to succeed and provide revenue and profit, the human capital (the employees), are a factor that can stir customers and potential customers away, The treatment of customers can go a long way. Think of the business of Chick-Fil-A which in my mind has the best customer service when it comes to the fast food industry, Customers are greeted with a smile, and through the whole ordering and dining experience feel welcomed as if we were all family. The customer service of Walmart should take note and make changes. Through the use of the evaluations of the employees, focus on customer service and care should and need to be addressed. In addition, both formal and informal training should include scenarios and situations that focus on treatment of customers. While Walmart’s revenue and profit will not see a dramatic change, customers may shift to shopping at places such as Target or even better on Amazon through online shopping exclusively. Would you want to continue shopping in a store where the employees are not friendly, do not take your interest and concern appropriately, and overall just have a rude and unapproachable environment? The use of surveys are a tool that is not used as effectively as it is intended for. While I do believe that surveys are being completed, the feedback from that survey, in my opinion, is not being applied to the workplace. I do understand some changes and undertakings can take time, however, suggested change can be started with small minimal modifications. Businesses who use and apply feedback from surveys will in all likelihood keep their current clientele and work on gathering new potential customers. An article concerning feedback stated this information, as it pertains to feedback in the workplace “Feedback is of great help in leadership and communication: it creates a clear picture and increases transparency” (2021)
Your Thoughts
Reference
Why is feedback important? and how to give it correctly? actiTIME. (2021, December 3). Retrieved March 13, 2022, from https://www.actitime.com/project-management/importance-of-feedback
Steve
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