My Blog

Tag: Management

  • [Solved] ACC 5301 VI

    ✓ Verified Academic Solution Available

    Executive Solution Overview

    – ## ManagementApplicationsofAccountingACC5301UnitVIAssignment.docx – ## UnitVITemplate.xlsx – ## UnitVStudyGuide.pdf – UnitVIStudyGuide.pdf **## ManagementApplicationsofAccountingACC5301UnitVIAssignment.docx** 2 Management Applications of Accounting ACC 5301 Unit VI Assignment This assignment measu…

    Instant Solution Download

    $6.99

    Immediate access to the full model answer, formatted citations, and rubric breakdown.

    Need a Fresh Custom Paper?

    Have this question answered from scratch according to your specific instructions and deadline.

    Order on TutorsGallery →

    Assignment Prompt & Instructions

    – ## ManagementApplicationsofAccountingACC5301UnitVIAssignment.docx

    – ## UnitVITemplate.xlsx

    – ## UnitVStudyGuide.pdf

    – UnitVIStudyGuide.pdf

    **## ManagementApplicationsofAccountingACC5301UnitVIAssignment.docx**

    2

    Management Applications of Accounting ACC 5301 Unit VI Assignment

    This assignment measures your mastery of ULOs 2.5, 4.1, 5.2, and 6.1.

    You have been hired at ABC Manufacturing, and you have been asked to work on the budget for the upcoming year regarding labor costs and the number of employees needed. Complete the
    Unit VI Assignment Template for this assignment and submit it for grading in Blackboard.

    APA Style is not required for this assignment.

    **## UnitVITemplate.xlsx**

    ## Problem

    | | | | | | | | |
    | — | — | — | — | — | — | — | — |
    | | ABC Manufacuring | | | | | | Instructions: |
    | | Direct Labor Budget for the Year Ending Dec 31, 202X | | | | | | 1. Review the data given, fill in the information in yellow cells to determine number of employees needed. |
    | | Quarter 1 | Quarter 2 | Quarter 3 | Quarter 4 | Year |
    | Direct labor hours per unit | 1 | 1 | 1 | 1 | 1 |
    | Labor rate per hour | $20.00 | $20.00 | $20.00 | $20.00 | $20.00 | | 2. Based on the calculations result and information given, address how this information can be useful for managers in terms of scheduling, planning, and control. Include ethical considerations in the budget process. Type your response in the box below. |
    | Direct labor cost per unit |
    | Units to be produced | 40,000 | 41,000 | 42,000 | 38,000 | 161,000 |
    | Total direct labor cost |
    | Total hours needed<br> <br>Thanasak Ruankaew: Author:<br>@ 1 labor hour per unit per row #4 | 40,000 | 41,000 | 42,000 | 38,000 | 161,000 |
    | Average hours per quarter per employee<br> <br>Thanasak Ruankaew: Author:<br>Each employee can work 480 hours per quarter | 480 | 480 | 480 | 480 |
    | Approximate number of employees needed<br> <br>Thanasak Ruankaew: Author:<br>Students may round up the value. |
    | | | | | | | | 3. Brieftly address how regulatory and compliance requirements (e.g., minimum wage, benefits, safety, etc.) might impact labor costs and pricing decision. Type response in the below box. |

    | Name: |
    | Date: |

    **## UnitVStudyGuide.pdf**

    ACC 5301, Management Applications of Accounting 1

    Course Learning Outcomes for Unit V

    Upon completion of this unit, students should be able to:

    2. Apply accounting concepts to the creation of accounting information and reports.
    2.3 Create accounting reports to make business decisions.
    2.4 Use accounting data to make pricing decisions.

    5. Discuss compliance requirements of accounting information.

    5.2 Identify compliance and regulatory requirements related to product pricing.

    Required Unit Resources

    Chapter 7: The Use of Cost Information in Management Decision Making, pp. 7-1 – 7-18

    Chapter 8: Pricing Decisions, Customer Profitability Analysis, and Activity-Based Pricing, pp. 8-1 – 8-
    13

    Unit Lesson

    Introduction

    Welcome to Unit V. We will be discussing how cost information is used to make business decisions and how
    product pricing decisions are made using various techniques. To begin our discussion, we will look at how
    accounting information is used in making decisions that involve choosing between alternatives such as
    expanding or removing operating locations, purchasing equipment, and more. Then we will expand our
    discussion to look at how prices are set using various accounting techniques.

    Making Business Decisions

    In business, we often have to choose between various options. For example, we may need to determine if we
    should purchase Equipment A or Equipment B, make or buy components, close one of our locations, or
    expand our product line. When making these decisions, we focus on incremental analysis or the difference
    between incremental revenue and incremental expense. This means we look at the difference in revenue
    between two alternatives and the difference in expenses between two alternates to determine which
    alternative would generate the most profit for the company.

    Two Alternatives

    In our first example, we will look at deciding between two alternative pieces of equipment. As you can see,
    each piece of equipment has a different amount of revenue that is generated and different costs associated
    with running that piece of equipment, which means each piece of equipment will generate a different amount
    of profit for the company. By doing this incremental analysis, we see that Equipment B, in this case, will
    generate almost $90,000 more profit for the company than Equipment A.

    UNIT V STUDY GUIDE

    Cost Information and Pricing

    ACC 5301, Management Applications of Accounting 2

    UNIT x STUDY GUIDE

    Title

    Make or Buy

    Another example of a typical business decision using incremental analysis is to determine if the company
    should purchase a component or make it themselves. This is known as a make-or-buy decision. Let's go back
    to our computer manufacturer example that we have been using in this course. Let's say we want to decide if
    it is better to make the processor components ourselves or to purchase them from an outside vendor. In this
    example, we can see that it is less expensive to make the components than to purchase them. While we may
    be saving money on the materials, labor, variable overhead and some management salaries, the cost to
    purchase the components at the price quoted is too high to offset the savings by $120,000.

    Close a Division

    In our third example, we will look at the decision to drop a product line or close a division. Again, going back
    to our computer manufacturer, let's see what would happen if we decide to drop our laptop division and only
    keep our desktop division. In this example, we are going to say that the laptop division is losing money and
    the initial response would be to close the division. In other words, why keep a division that does not make a
    profit. However, looking more closely at this analysis, if we close the laptop division, the overall net income for
    the company would drop by $4,500 in our incremental analysis. The reason for this is the laptop division is
    offsetting some of the very high fixed costs of the company. Therefore, even though the division as a unit is
    losing money, it is still generating income overall for the company to offset those high fixed costs. At this

    ACC 5301, Management Applications of Accounting 3

    UNIT x STUDY GUIDE

    Title

    point, management may need to see how they can increase operating efficiency with the laptop division rather
    than just dropping the division.

    We have spent a great deal of time looking at the numbers when making these important business decisions.
    However, as a manager, there are also qualitative considerations to take into account when making
    decisions. These decisions look at other factors that may affect business such as regular constraints, overall
    economic conditions, and even employee morale. For example, going back to our example to close the laptop
    division of our company, this would mean that employees would lose their jobs. How would this effect the
    desktop division employees? In other words, would their efficiency decline, would there be high turnover as
    employees look for other jobs in fear they too may lose their jobs? The point here is, as managers, you need
    to not only look at the numbers but also consider all of the effects on the company of a business decision.

    Pricing Decisions

    Special Orders

    Looking at the idea of how incremental analysis can be used in pricing decisions, we will look at the concept
    of special orders. This is a common pricing decision companies often make to determine the cost of accepting
    a special order. A special order is when a company accepts an order that is outside of what the business
    normally produces, and that order does not affect the production of its normal products (Jiambalvo, 2020). For
    example, our computer manufacturer is considering accepting a special order for a special price to make
    laptops with additional memory. In order to determine if this special order is worth the additional revenue, the
    computer manufacturer will use an incremental analysis.

    First, the company needs to look at the revenue that would be gained if it produced the special order laptops.
    In this case, the additional revenue would be $1,000,000. Then the company needs to look at the additional
    costs associated with making these
    special order computers. Since the
    computers need additional memory,
    there is an added cost of $500,000 for
    the parts. Then the company needs to
    account for the salaries of the workers
    that will be needed to assemble these
    computers, which would be $390,000.
    Finally, there is additional overhead
    associated with making these special
    order computers of $250,000. Overall,
    once this incremental analysis is
    complete this special order would wind

    (Jiambalvo, 2020)

    ACC 5301, Management Applications of Accounting 4

    UNIT x STUDY GUIDE

    Title

    up costing the company $140,000. Consequently, the company should reject the special order or renegotiate
    the selling price.

    Another important issue related to product pricing relates to basic economics. For example, as the demand
    for the product increases, the supply on hand will decrease, and this will drive up the price of the product. We
    see this all of the time during the holiday season. The price of a child's toy may be $29.99, but as the demand
    for that toy increases and stores run out of stock (or supply) of the toy, the price of that same toy will increase
    drastically. In other words, you may find it online for $150.00 when its original selling price was much less.
    This is the effect of a limited supply and a high demand.

    Knowing the demand for a product is often difficult for managers. In our previous example, the company
    was out of stock (or supply), driving up the price; however, it may go the other way, and that same $29.99
    toy that managers thought was going to be a big seller winds up not selling at all, and they are overstocked
    in inventory. This would mean that in order to sell the toy, they would need to lower the price to $19.99. In
    this example, the supply (or stock) was greater than the demand, so the price needs to be lowered to sell
    the product.

    Cost-Plus Pricing

    Due to the uncertainty related to pricing, many companies use cost-plus pricing. In other words, companies
    start with an estimate of the product's cost and then add on a reasonable amount of profit. For example, if it
    costs the company $1,000 to make a computer, then the company marks it up 30% to sell it for $1,300. This
    seems like a good way to ensure costs are covered and the company makes a reasonable profit. The
    challenge is to determine what the appropriate amount of markup is for the product. If it is too high of a
    markup, no one will buy the product; too low, the company estimates may have been incorrect, and selling
    price may not cover the actual cost (Jiambalvo, 2019).

    Target Costing

    Target costing is an overall way used to determine the product features, price, cost, and design that will
    provide the company with the most profit. In this costing method, the company looks first at the selling price of
    the product based on its features and then subtracts out the profit needed on that product to arrive at the
    target cost for the product (Jiambalvo, 2019). Again, looking at our computer manufacturing company, let's
    say the engineers develop a new computer with unique
    features that should sell for $3,500. Then the company
    calculates the profit it wants to make on this new product.
    This leaves a target cost for the new product that the
    company needs to meet. In other words, using this example,
    the cost to make the new product needs to be $2,450.

    Activity-Based Pricing

    In activity-based pricing, customers are given separate prices for
    additional services that accompany the product. Using our
    computer manufacturing company, customers would be charged
    a per-item fee for each additional service associated with the
    sale of the computer. As an example, customers may be
    charged an ordering or packing fee.

    Conclusion

    In this unit, we have looked at making common business decisions using accounting data. For example, we
    looked at deciding between two products, deciding if it is more cost effective to make or buy a product, and
    deciding if a company should close a division. In addition to looking at how accounting data is used to make
    common business decisions, we also looked at pricing decisions. Some of these decisions included accepting
    special orders, cost-plus pricing, target costing, and activity-based pricing.

    Reference

    (Jiambalvo, 2020)

    ACC 5301, Management Applications of Accounting 5

    UNIT x STUDY GUIDE

    Title

    Jiambalvo, J. (2020). Managerial accounting (7th ed.). Wiley.

    https://bookshelf.vitalsource.com/#/books/9781119577706

    Suggested Unit Resources

    View the following videos by accessing the Unit V Additional Unit Resources folder in the unit.

    The video Method: Incremental Analysis will discuss how managers make decisions looking at cost data.

    You can access a transcript for this video by hovering over the PDF button at the bottom of the video and
    then clicking on the word “Transcript.” Alternatively, you can click on the “cc” button at the bottom of the video
    to turn on closed captions.

    The video Zappos: Pricing will discuss pricing practices within a company.

    You can access a transcript for this video by hovering over the PDF button at the bottom of the video and
    then clicking on the word “Transcript.” Alternatively, you can click on the “cc” button at the bottom of the video
    to turn on closed captions.

    Learning Activities (Nongraded)

    Nongraded Learning Activities are provided to aid students in their course of study. You do not have to submit
    them. If you have questions, contact your instructor for further guidance and information.

    After watching both videos in the Suggested Unit Resources, you may want to view the Chapter 7 Flash
    Cards and the Chapter 8 Flash Cards found in the Additional Unit Resources folder to reinforce the material
    presented in this unit.

    **UnitVIStudyGuide.pdf**

    This file is too large to display. [View in new window](https://www.sweetstudy.com/files/unitvistudyguide-pdf-10457409)

    **UnitVIStudyGuide.pdf**

    This file is too large to display. [View in new window](https://www.sweetstudy.com/files/unitvistudyguide-pdf-10457409)

    **## ManagementApplicationsofAccountingACC5301UnitVIAssignment.docx**

    2

    Management Applications of Accounting ACC 5301 Unit VI Assignment

    This assignment measures your mastery of ULOs 2.5, 4.1, 5.2, and 6.1.

    You have been hired at ABC Manufacturing, and you have been asked to work on the budget for the upcoming year regarding labor costs and the number of employees needed. Complete the
    Unit VI Assignment Template for this assignment and submit it for grading in Blackboard.

    APA Style is not required for this assignment.

    **## UnitVITemplate.xlsx**

    ## Problem

    | | | | | | | | |
    | — | — | — | — | — | — | — | — |
    | | ABC Manufacuring | | | | | | Instructions: |
    | | Direct Labor Budget for the Year Ending Dec 31, 202X | | | | | | 1. Review the data given, fill in the information in yellow cells to determine number of employees needed. |
    | | Quarter 1 | Quarter 2 | Quarter 3 | Quarter 4 | Year |
    | Direct labor hours per unit | 1 | 1 | 1 | 1 | 1 |
    | Labor rate per hour | $20.00 | $20.00 | $20.00 | $20.00 | $20.00 | | 2. Based on the calculations result and information given, address how this information can be useful for managers in terms of scheduling, planning, and control. Include ethical considerations in the budget process. Type your response in the box below. |
    | Direct labor cost per unit |
    | Units to be produced | 40,000 | 41,000 | 42,000 | 38,000 | 161,000 |
    | Total direct labor cost |
    | Total hours needed<br> <br>Thanasak Ruankaew: Author:<br>@ 1 labor hour per unit per row #4 | 40,000 | 41,000 | 42,000 | 38,000 | 161,000 |
    | Average hours per quarter per employee<br> <br>Thanasak Ruankaew: Author:<br>Each employee can work 480 hours per quarter | 480 | 480 | 480 | 480 |
    | Approximate number of employees needed<br> <br>Thanasak Ruankaew: Author:<br>Students may round up the value. |
    | | | | | | | | 3. Brieftly address how regulatory and compliance requirements (e.g., minimum wage, benefits, safety, etc.) might impact labor costs and pricing decision. Type response in the below box. |

    | Name: |
    | Date: |

    **## UnitVStudyGuide.pdf**

    ACC 5301, Management Applications of Accounting 1

    Course Learning Outcomes for Unit V

    Upon completion of this unit, students should be able to:

    2. Apply accounting concepts to the creation of accounting information and reports.
    2.3 Create accounting reports to make business decisions.
    2.4 Use accounting data to make pricing decisions.

    5. Discuss compliance requirements of accounting information.

    5.2 Identify compliance and regulatory requirements related to product pricing.

    Required Unit Resources

    Chapter 7: The Use of Cost Information in Management Decision Making, pp. 7-1 – 7-18

    Chapter 8: Pricing Decisions, Customer Profitability Analysis, and Activity-Based Pricing, pp. 8-1 – 8-
    13

    Unit Lesson

    Introduction

    Welcome to Unit V. We will be discussing how cost information is used to make business decisions and how
    product pricing decisions are made using various techniques. To begin our discussion, we will look at how
    accounting information is used in making decisions that involve choosing between alternatives such as
    expanding or removing operating locations, purchasing equipment, and more. Then we will expand our
    discussion to look at how prices are set using various accounting techniques.

    Making Business Decisions

    In business, we often have to choose between various options. For example, we may need to determine if we
    should purchase Equipment A or Equipment B, make or buy components, close one of our locations, or
    expand our product line. When making these decisions, we focus on incremental analysis or the difference
    between incremental revenue and incremental expense. This means we look at the difference in revenue
    between two alternatives and the difference in expenses between two alternates to determine which
    alternative would generate the most profit for the company.

    Two Alternatives

    In our first example, we will look at deciding between two alternative pieces of equipment. As you can see,
    each piece of equipment has a different amount of revenue that is generated and different costs associated
    with running that piece of equipment, which means each piece of equipment will generate a different amount
    of profit for the company. By doing this incremental analysis, we see that Equipment B, in this case, will
    generate almost $90,000 more profit for the company than Equipment A.

    UNIT V STUDY GUIDE

    Cost Information and Pricing

    ACC 5301, Management Applications of Accounting 2

    UNIT x STUDY GUIDE

    Title

    Make or Buy

    Another example of a typical business decision using incremental analysis is to determine if the company
    should purchase a component or make it themselves. This is known as a make-or-buy decision. Let's go back
    to our computer manufacturer example that we have been using in this course. Let's say we want to decide if
    it is better to make the processor components ourselves or to purchase them from an outside vendor. In this
    example, we can see that it is less expensive to make the components than to purchase them. While we may
    be saving money on the materials, labor, variable overhead and some management salaries, the cost to
    purchase the components at the price quoted is too high to offset the savings by $120,000.

    Close a Division

    In our third example, we will look at the decision to drop a product line or close a division. Again, going back
    to our computer manufacturer, let's see what would happen if we decide to drop our laptop division and only
    keep our desktop division. In this example, we are going to say that the laptop division is losing money and
    the initial response would be to close the division. In other words, why keep a division that does not make a
    profit. However, looking more closely at this analysis, if we close the laptop division, the overall net income for
    the company would drop by $4,500 in our incremental analysis. The reason for this is the laptop division is
    offsetting some of the very high fixed costs of the company. Therefore, even though the division as a unit is
    losing money, it is still generating income overall for the company to offset those high fixed costs. At this

    ACC 5301, Management Applications of Accounting 3

    UNIT x STUDY GUIDE

    Title

    point, management may need to see how they can increase operating efficiency with the laptop division rather
    than just dropping the division.

    We have spent a great deal of time looking at the numbers when making these important business decisions.
    However, as a manager, there are also qualitative considerations to take into account when making
    decisions. These decisions look at other factors that may affect business such as regular constraints, overall
    economic conditions, and even employee morale. For example, going back to our example to close the laptop
    division of our company, this would mean that employees would lose their jobs. How would this effect the
    desktop division employees? In other words, would their efficiency decline, would there be high turnover as
    employees look for other jobs in fear they too may lose their jobs? The point here is, as managers, you need
    to not only look at the numbers but also consider all of the effects on the company of a business decision.

    Pricing Decisions

    Special Orders

    Looking at the idea of how incremental analysis can be used in pricing decisions, we will look at the concept
    of special orders. This is a common pricing decision companies often make to determine the cost of accepting
    a special order. A special order is when a company accepts an order that is outside of what the business
    normally produces, and that order does not affect the production of its normal products (Jiambalvo, 2020). For
    example, our computer manufacturer is considering accepting a special order for a special price to make
    laptops with additional memory. In order to determine if this special order is worth the additional revenue, the
    computer manufacturer will use an incremental analysis.

    First, the company needs to look at the revenue that would be gained if it produced the special order laptops.
    In this case, the additional revenue would be $1,000,000. Then the company needs to look at the additional
    costs associated with making these
    special order computers. Since the
    computers need additional memory,
    there is an added cost of $500,000 for
    the parts. Then the company needs to
    account for the salaries of the workers
    that will be needed to assemble these
    computers, which would be $390,000.
    Finally, there is additional overhead
    associated with making these special
    order computers of $250,000. Overall,
    once this incremental analysis is
    complete this special order would wind

    (Jiambalvo, 2020)

    ACC 5301, Management Applications of Accounting 4

    UNIT x STUDY GUIDE

    Title

    up costing the company $140,000. Consequently, the company should reject the special order or renegotiate
    the selling price.

    Another important issue related to product pricing relates to basic economics. For example, as the demand
    for the product increases, the supply on hand will decrease, and this will drive up the price of the product. We
    see this all of the time during the holiday season. The price of a child's toy may be $29.99, but as the demand
    for that toy increases and stores run out of stock (or supply) of the toy, the price of that same toy will increase
    drastically. In other words, you may find it online for $150.00 when its original selling price was much less.
    This is the effect of a limited supply and a high demand.

    Knowing the demand for a product is often difficult for managers. In our previous example, the company
    was out of stock (or supply), driving up the price; however, it may go the other way, and that same $29.99
    toy that managers thought was going to be a big seller winds up not selling at all, and they are overstocked
    in inventory. This would mean that in order to sell the toy, they would need to lower the price to $19.99. In
    this example, the supply (or stock) was greater than the demand, so the price needs to be lowered to sell
    the product.

    Cost-Plus Pricing

    Due to the uncertainty related to pricing, many companies use cost-plus pricing. In other words, companies
    start with an estimate of the product's cost and then add on a reasonable amount of profit. For example, if it
    costs the company $1,000 to make a computer, then the company marks it up 30% to sell it for $1,300. This
    seems like a good way to ensure costs are covered and the company makes a reasonable profit. The
    challenge is to determine what the appropriate amount of markup is for the product. If it is too high of a
    markup, no one will buy the product; too low, the company estimates may have been incorrect, and selling
    price may not cover the actual cost (Jiambalvo, 2019).

    Target Costing

    Target costing is an overall way used to determine the product features, price, cost, and design that will
    provide the company with the most profit. In this costing method, the company looks first at the selling price of
    the product based on its features and then subtracts out the profit needed on that product to arrive at the
    target cost for the product (Jiambalvo, 2019). Again, looking at our computer manufacturing company, let's
    say the engineers develop a new computer with unique
    features that should sell for $3,500. Then the company
    calculates the profit it wants to make on this new product.
    This leaves a target cost for the new product that the
    company needs to meet. In other words, using this example,
    the cost to make the new product needs to be $2,450.

    Activity-Based Pricing

    In activity-based pricing, customers are given separate prices for
    additional services that accompany the product. Using our
    computer manufacturing company, customers would be charged
    a per-item fee for each additional service associated with the
    sale of the computer. As an example, customers may be
    charged an ordering or packing fee.

    Conclusion

    In this unit, we have looked at making common business decisions using accounting data. For example, we
    looked at deciding between two products, deciding if it is more cost effective to make or buy a product, and
    deciding if a company should close a division. In addition to looking at how accounting data is used to make
    common business decisions, we also looked at pricing decisions. Some of these decisions included accepting
    special orders, cost-plus pricing, target costing, and activity-based pricing.

    Reference

    (Jiambalvo, 2020)

    ACC 5301, Management Applications of Accounting 5

    UNIT x STUDY GUIDE

    Title

    Jiambalvo, J. (2020). Managerial accounting (7th ed.). Wiley.

    https://bookshelf.vitalsource.com/#/books/9781119577706

    Suggested Unit Resources

    View the following videos by accessing the Unit V Additional Unit Resources folder in the unit.

    The video Method: Incremental Analysis will discuss how managers make decisions looking at cost data.

    You can access a transcript for this video by hovering over the PDF button at the bottom of the video and
    then clicking on the word “Transcript.” Alternatively, you can click on the “cc” button at the bottom of the video
    to turn on closed captions.

    The video Zappos: Pricing will discuss pricing practices within a company.

    You can access a transcript for this video by hovering over the PDF button at the bottom of the video and
    then clicking on the word “Transcript.” Alternatively, you can click on the “cc” button at the bottom of the video
    to turn on closed captions.

    Learning Activities (Nongraded)

    Nongraded Learning Activities are provided to aid students in their course of study. You do not have to submit
    them. If you have questions, contact your instructor for further guidance and information.

    After watching both videos in the Suggested Unit Resources, you may want to view the Chapter 7 Flash
    Cards and the Chapter 8 Flash Cards found in the Additional Unit Resources folder to reinforce the material
    presented in this unit.

    **UnitVIStudyGuide.pdf**

    This file is too large to display. [View in new window](https://www.sweetstudy.com/files/unitvistudyguide-pdf-10457409)

    **## ManagementApplicationsofAccountingACC5301UnitVIAssignment.docx**

    2

    Management Applications of Accounting ACC 5301 Unit VI Assignment

    This assignment measures your mastery of ULOs 2.5, 4.1, 5.2, and 6.1.

    You have been hired at ABC Manufacturing, and you have been asked to work on the budget for the upcoming year regarding labor costs and the number of employees needed. Complete the
    Unit VI Assignment Template for this assignment and submit it for grading in Blackboard.

    APA Style is not required for this assignment.

    **## UnitVITemplate.xlsx**

    ## Problem

    | | | | | | | | |
    | — | — | — | — | — | — | — | — |
    | | ABC Manufacuring | | | | | | Instructions: |
    | | Direct Labor Budget for the Year Ending Dec 31, 202X | | | | | | 1. Review the data given, fill in the information in yellow cells to determine number of employees needed. |
    | | Quarter 1 | Quarter 2 | Quarter 3 | Quarter 4 | Year |
    | Direct labor hours per unit | 1 | 1 | 1 | 1 | 1 |
    | Labor rate per hour | $20.00 | $20.00 | $20.00 | $20.00 | $20.00 | | 2. Based on the calculations result and information given, address how this information can be useful for managers in terms of scheduling, planning, and control. Include ethical considerations in the budget process. Type your response in the box below. |
    | Direct labor cost per unit |
    | Units to be produced | 40,000 | 41,000 | 42,000 | 38,000 | 161,000 |
    | Total direct labor cost |
    | Total hours needed<br> <br>Thanasak Ruankaew: Author:<br>@ 1 labor hour per unit per row #4 | 40,000 | 41,000 | 42,000 | 38,000 | 161,000 |
    | Average hours per quarter per employee<br> <br>Thanasak Ruankaew: Author:<br>Each employee can work 480 hours per quarter | 480 | 480 | 480 | 480 |
    | Approximate number of employees needed<br> <br>Thanasak Ruankaew: Author:<br>Students may round up the value. |
    | | | | | | | | 3. Brieftly address how regulatory and compliance requirements (e.g., minimum wage, benefits, safety, etc.) might impact labor costs and pricing decision. Type response in the below box. |

    | Name: |
    | Date: |

    **## UnitVStudyGuide.pdf**

    ACC 5301, Management Applications of Accounting 1

    Course Learning Outcomes for Unit V

    Upon completion of this unit, students should be able to:

    2. Apply accounting concepts to the creation of accounting information and reports.
    2.3 Create accounting reports to make business decisions.
    2.4 Use accounting data to make pricing decisions.

    5. Discuss compliance requirements of accounting information.

    5.2 Identify compliance and regulatory requirements related to product pricing.

    Required Unit Resources

    Chapter 7: The Use of Cost Information in Management Decision Making, pp. 7-1 – 7-18

    Chapter 8: Pricing Decisions, Customer Profitability Analysis, and Activity-Based Pricing, pp. 8-1 – 8-
    13

    Unit Lesson

    Introduction

    Welcome to Unit V. We will be discussing how cost information is used to make business decisions and how
    product pricing decisions are made using various techniques. To begin our discussion, we will look at how
    accounting information is used in making decisions that involve choosing between alternatives such as
    expanding or removing operating locations, purchasing equipment, and more. Then we will expand our
    discussion to look at how prices are set using various accounting techniques.

    Making Business Decisions

    In business, we often have to choose between various options. For example, we may need to determine if we
    should purchase Equipment A or Equipment B, make or buy components, close one of our locations, or
    expand our product line. When making these decisions, we focus on incremental analysis or the difference
    between incremental revenue and incremental expense. This means we look at the difference in revenue
    between two alternatives and the difference in expenses between two alternates to determine which
    alternative would generate the most profit for the company.

    Two Alternatives

    In our first example, we will look at deciding between two alternative pieces of equipment. As you can see,
    each piece of equipment has a different amount of revenue that is generated and different costs associated
    with running that piece of equipment, which means each piece of equipment will generate a different amount
    of profit for the company. By doing this incremental analysis, we see that Equipment B, in this case, will
    generate almost $90,000 more profit for the company than Equipment A.

    UNIT V STUDY GUIDE

    Cost Information and Pricing

    ACC 5301, Management Applications of Accounting 2

    UNIT x STUDY GUIDE

    Title

    Make or Buy

    Another example of a typical business decision using incremental analysis is to determine if the company
    should purchase a component or make it themselves. This is known as a make-or-buy decision. Let's go back
    to our computer manufacturer example that we have been using in this course. Let's say we want to decide if
    it is better to make the processor components ourselves or to purchase them from an outside vendor. In this
    example, we can see that it is less expensive to make the components than to purchase them. While we may
    be saving money on the materials, labor, variable overhead and some management salaries, the cost to
    purchase the components at the price quoted is too high to offset the savings by $120,000.

    Close a Division

    In our third example, we will look at the decision to drop a product line or close a division. Again, going back
    to our computer manufacturer, let's see what would happen if we decide to drop our laptop division and only
    keep our desktop division. In this example, we are going to say that the laptop division is losing money and
    the initial response would be to close the division. In other words, why keep a division that does not make a
    profit. However, looking more closely at this analysis, if we close the laptop division, the overall net income for
    the company would drop by $4,500 in our incremental analysis. The reason for this is the laptop division is
    offsetting some of the very high fixed costs of the company. Therefore, even though the division as a unit is
    losing money, it is still generating income overall for the company to offset those high fixed costs. At this

    ACC 5301, Management Applications of Accounting 3

    UNIT x STUDY GUIDE

    Title

    point, management may need to see how they can increase operating efficiency with the laptop division rather
    than just dropping the division.

    We have spent a great deal of time looking at the numbers when making these important business decisions.
    However, as a manager, there are also qualitative considerations to take into account when making
    decisions. These decisions look at other factors that may affect business such as regular constraints, overall
    economic conditions, and even employee morale. For example, going back to our example to close the laptop
    division of our company, this would mean that employees would lose their jobs. How would this effect the
    desktop division employees? In other words, would their efficiency decline, would there be high turnover as
    employees look for other jobs in fear they too may lose their jobs? The point here is, as managers, you need
    to not only look at the numbers but also consider all of the effects on the company of a business decision.

    Pricing Decisions

    Special Orders

    Looking at the idea of how incremental analysis can be used in pricing decisions, we will look at the concept
    of special orders. This is a common pricing decision companies often make to determine the cost of accepting
    a special order. A special order is when a company accepts an order that is outside of what the business
    normally produces, and that order does not affect the production of its normal products (Jiambalvo, 2020). For
    example, our computer manufacturer is considering accepting a special order for a special price to make
    laptops with additional memory. In order to determine if this special order is worth the additional revenue, the
    computer manufacturer will use an incremental analysis.

    First, the company needs to look at the revenue that would be gained if it produced the special order laptops.
    In this case, the additional revenue would be $1,000,000. Then the company needs to look at the additional
    costs associated with making these
    special order computers. Since the
    computers need additional memory,
    there is an added cost of $500,000 for
    the parts. Then the company needs to
    account for the salaries of the workers
    that will be needed to assemble these
    computers, which would be $390,000.
    Finally, there is additional overhead
    associated with making these special
    order computers of $250,000. Overall,
    once this incremental analysis is
    complete this special order would wind

    (Jiambalvo, 2020)

    ACC 5301, Management Applications of Accounting 4

    UNIT x STUDY GUIDE

    Title

    up costing the company $140,000. Consequently, the company should reject the special order or renegotiate
    the selling price.

    Another important issue related to product pricing relates to basic economics. For example, as the demand
    for the product increases, the supply on hand will decrease, and this will drive up the price of the product. We
    see this all of the time during the holiday season. The price of a child's toy may be $29.99, but as the demand
    for that toy increases and stores run out of stock (or supply) of the toy, the price of that same toy will increase
    drastically. In other words, you may find it online for $150.00 when its original selling price was much less.
    This is the effect of a limited supply and a high demand.

    Knowing the demand for a product is often difficult for managers. In our previous example, the company
    was out of stock (or supply), driving up the price; however, it may go the other way, and that same $29.99
    toy that managers thought was going to be a big seller winds up not selling at all, and they are overstocked
    in inventory. This would mean that in order to sell the toy, they would need to lower the price to $19.99. In
    this example, the supply (or stock) was greater than the demand, so the price needs to be lowered to sell
    the product.

    Cost-Plus Pricing

    Due to the uncertainty related to pricing, many companies use cost-plus pricing. In other words, companies
    start with an estimate of the product's cost and then add on a reasonable amount of profit. For example, if it
    costs the company $1,000 to make a computer, then the company marks it up 30% to sell it for $1,300. This
    seems like a good way to ensure costs are covered and the company makes a reasonable profit. The
    challenge is to determine what the appropriate amount of markup is for the product. If it is too high of a
    markup, no one will buy the product; too low, the company estimates may have been incorrect, and selling
    price may not cover the actual cost (Jiambalvo, 2019).

    Target Costing

    Target costing is an overall way used to determine the product features, price, cost, and design that will
    provide the company with the most profit. In this costing method, the company looks first at the selling price of
    the product based on its features and then subtracts out the profit needed on that product to arrive at the
    target cost for the product (Jiambalvo, 2019). Again, looking at our computer manufacturing company, let's
    say the engineers develop a new computer with unique
    features that should sell for $3,500. Then the company
    calculates the profit it wants to make on this new product.
    This leaves a target cost for the new product that the
    company needs to meet. In other words, using this example,
    the cost to make the new product needs to be $2,450.

    Activity-Based Pricing

    In activity-based pricing, customers are given separate prices for
    additional services that accompany the product. Using our
    computer manufacturing company, customers would be charged
    a per-item fee for each additional service associated with the
    sale of the computer. As an example, customers may be
    charged an ordering or packing fee.

    Conclusion

    In this unit, we have looked at making common business decisions using accounting data. For example, we
    looked at deciding between two products, deciding if it is more cost effective to make or buy a product, and
    deciding if a company should close a division. In addition to looking at how accounting data is used to make
    common business decisions, we also looked at pricing decisions. Some of these decisions included accepting
    special orders, cost-plus pricing, target costing, and activity-based pricing.

    Reference

    (Jiambalvo, 2020)

    ACC 5301, Management Applications of Accounting 5

    UNIT x STUDY GUIDE

    Title

    Jiambalvo, J. (2020). Managerial accounting (7th ed.). Wiley.

    https://bookshelf.vitalsource.com/#/books/9781119577706

    Suggested Unit Resources

    View the following videos by accessing the Unit V Additional Unit Resources folder in the unit.

    The video Method: Incremental Analysis will discuss how managers make decisions looking at cost data.

    You can access a transcript for this video by hovering over the PDF button at the bottom of the video and
    then clicking on the word “Transcript.” Alternatively, you can click on the “cc” button at the bottom of the video
    to turn on closed captions.

    The video Zappos: Pricing will discuss pricing practices within a company.

    You can access a transcript for this video by hovering over the PDF button at the bottom of the video and
    then clicking on the word “Transcript.” Alternatively, you can click on the “cc” button at the bottom of the video
    to turn on closed captions.

    Learning Activities (Nongraded)

    Nongraded Learning Activities are provided to aid students in their course of study. You do not have to submit
    them. If you have questions, contact your instructor for further guidance and information.

    After watching both videos in the Suggested Unit Resources, you may want to view the Chapter 7 Flash
    Cards and the Chapter 8 Flash Cards found in the Additional Unit Resources folder to reinforce the material
    presented in this unit.

    **UnitVIStudyGuide.pdf**

    This file is too large to display. [View in new window](https://www.sweetstudy.com/files/unitvistudyguide-pdf-10457409)

    – 1
    – 2
    – 3
    – 4

  • [Solved] HRM 6303 VII SA

    ✓ Verified Academic Solution Available

    Executive Solution Overview

    – ## TrainingandDevelopmentHRM6303UnitVIIScholarlyActivity.docx – ## UnitVIIStudyGuide.pdf **## TrainingandDevelopmentHRM6303UnitVIIScholarlyActivity.docx** 2 Training and Development HRM 6303 Unit VII SA For this assignment, you will write a report that details the components of an executive leader…

    Instant Solution Download

    $6.99

    Immediate access to the full model answer, formatted citations, and rubric breakdown.

    Need a Fresh Custom Paper?

    Have this question answered from scratch according to your specific instructions and deadline.

    Order on TutorsGallery →

    Assignment Prompt & Instructions

    – ## TrainingandDevelopmentHRM6303UnitVIIScholarlyActivity.docx

    – ## UnitVIIStudyGuide.pdf

    **## TrainingandDevelopmentHRM6303UnitVIIScholarlyActivity.docx**

    2

    Training and Development HRM 6303 Unit VII SA

    For this assignment, you will write a report that details the components of an executive leadership development program for a fictitious company. The fictitious company can be within an organization and industry of your choice. Do not use the name of or information about a real company. After you have chosen a type of organization and industry, include the following

    items in your report.

    · Include an introductory paragraph that lists the name and type of fictitious company, the country in which the home office is located, how long the company has been operating, and the number of executive leadership employees.

    · Discuss an executive leadership development strategy. Provide a vision for this strategy. For example, what are the outcomes of having a leadership development program for the organization? How will the leadership be structured?

    · Explain how you will assess leadership capabilities for the roles you have structured. Are there any leadership theories that you use as the basis for your decisions?

    · Describe one assessment tool that you will use to identify leadership capabilities. How will your leaders develop problemsolving skills and the ability to arrive at sound solutions?

    · Explain how you will facilitate the training for leadership. What trends do human resource professionals use for leadership training?

    · Conclude your report by describing the benefits that having a formal executive leadership development program will have on the organization (e.g., why a program is important and how it enhances the organization’s competitiveness).

    Your assignment must be five full pages in length and include at least one peer-reviewed or academic source from the CSU Online Library. Adhere to APA guidelines when constructing this assignment and include in-text citations and references for all sources that are used. Please note that no abstract is needed.

    **## UnitVIIStudyGuide.pdf**

    HRM 6303, Training and Development 1

    Course Learning Outcomes for Unit VII

    Upon completion of this unit, students should be able to:

    7. Construct a rationale for designing training for leadership competencies.
    7.1 Discuss the leadership development strategy for a company.
    7.2 Explain assessment tools for identifying leadership capabilities.
    7.3 Discuss benefits of formal leadership development programs.

    Required Unit Resources

    In order to access the following resources, click the links below.

    Jenkins, D. M., & Allen, S. J. (2017, Winter). Aligning instructional strategies with learning outcomes and

    leadership competencies. New Directions for Student Leadership, 2017(156), 43–58.
    https://libraryresources.columbiasouthern.edu/login?url=http://search.ebscohost.com/login.aspx?direc
    t=true&db=a9h&AN=126316404&site=ehost-live&scope=site

    Leonard, H. S. (2017). A teachable approach to leadership. Consulting Psychology Journal: Practice and

    Research, 69(4), 243–266.
    https://libraryresources.columbiasouthern.edu/login?url=http://search.ebscohost.com/login.aspx?direc
    t=true&db=bsu&AN=128817733&site=ehost-live&scope=site

    Unit Lesson

    Introduction

    In this unit, we will explore the human resource role in leadership development, assessing leadership
    development needs, identifying competency gaps, and examine the assessment tools and strategies that can
    be utilized. This unit will take an in-depth look at training and leadership development.

    Leader Development

    The ability of an individual to influence a group or another individual toward the achievement of goals and
    results is considered leadership (Society for Human Resource Management [SHRM], 2017). In an
    organization’s hierarchy, leadership is not specifically attached to a certain position but, rather, can evolve
    from opportunities and situations. Also, when considering the subject of leadership in a global context, it
    should not be confused with the status, power, or some official authority. The ability to influence across
    cultures must be present among global leaders. Hence, it is important that leadership development practices
    be geared toward preparing and training leaders to lead in a global economy.

    UNIT VII STUDY GUIDE
    Leadership Development

    HRM 6303, Training and Development 2

    UNIT x STUDY GUIDE
    Title

    Today we see a global leadership environment across many industries.

    (Rawpixelimages, n.d.)

    Cultural considerations are vitally important in developing a leadership plan for today’s global environment.
    Leader development refers to an organization’s training and professional development program, which is
    targeted to assist management and executive-level employees in developing the flexibility, ability, and skills
    required to deal with a variety of situations (SHRM, 2017). In this unit, we will explore the role that human
    resources (HR) has in leadership development through the training and development function. We will also
    explore assessment tools for developing leaders, and lastly, we will examine various leadership development
    methodologies.

    HR’s Role in Leadership Development

    According to Giles (2016), HR plays a dual function when it comes to leadership development. The first
    function is that of a leader. HR professionals must consider their own role as leaders and the responsibilities
    that come with it. Often, through various functions (e.g., training and development, organizational change
    management), HR professionals are in a position that requires them to bring about change that is necessary
    to keep the organization competitive and successful.

    In addition, HR is responsible for identifying other leaders and potential leaders in the organization to
    maximize leadership succession planning efforts. Therefore, HR professionals must assess the organization’s
    leaders and their leadership needs on a regular basis. These needs must also be aligned with the
    organization’s strategic goals. HR is also responsible for providing leaders and potential leaders with
    adequate developmental experiences, relationships, and training needed for the continuation of development.

    Assessing Leadership Development Needs

    The training professional must begin looking at current leaders in relation to the organization’s goals and
    strategies when assessing leadership development needs (Scisco et al., 2017). Some of the things to
    consider when analyzing leadership development needs include:

    HRM 6303, Training and Development 3

    UNIT x STUDY GUIDE
    Title

    Most jobs, depending on the type and complexity, require a specific set of knowledge and skills. Competency
    mapping is often used for leadership or other positions to identify key competencies for a particular position.
    These competencies can be tied to behaviors and personal skills that distinguish excellent performance from
    the average. The competencies can be used in training and development, recruitment, performance
    management, succession planning, job evaluation, and many other aspects of the employees’ work.

    A competency assessment is typically a result of the key competencies formed during the mapping
    process. The competency assessment identifies the skill gaps against those specific competencies that
    the organization considers important. There are some organizations that may have their own competency
    assessments. However, many consultants and vendors offer competency assessment tools in various
    formats.

    An important aspect of performance management within leadership is the coaching and developing of skills
    needed to be successful (Fernandez-Araoz et al., 2017). The results from a competency assessment reveal
    how well a candidate or employee may perform the required skills needed for the job in relation to its
    performance standards. Competency assessments also provide the foundation of an individual development
    plan (IDP) and identify the necessary training and development programs needed to cultivate the skills and
    abilities needed to perform well. If you recall, the use of IDPs was discussed in an earlier unit.

    Assessment Tools for Leadership Development

    Some of the tools that organizations use to assess leadership ability include work sample measures. Work
    sample measures are assessment tools that require candidates to demonstrate levels of attained leadership
    proficiencies. These work samples include situation judgment tests (SJTs), simulations, and assessment
    centers.

    • Situational judgment tests (SJTs): Prospective leaders are presented with sample situations and
    problems that they may encounter in a work environment along with the probable answers.
    Candidates are asked to place the answers in order from best to worst, choose the best and worst
    answers, or just provide the best answer to the given situation.

    • Assessment centers and simulations: These are very similar to SJTs in that they can provide a
    candidate with a wide range of problem-solving exercises and leadership scenarios. These exercises
    or scenarios could include financial or business data analysis, leaderless group discussions, in-
    basket tests, role plays, and interview simulations. The series of exercises are observed by multiple

    HRM 6303, Training and Development 4

    UNIT x STUDY GUIDE
    Title

    raters who give an evaluation on each of the targeted performance factors. Then, assessors collect
    their results to provide an overall assessment score.

    Though these methods have proven to be highly successful, some methods have shown to be more useful
    than others (SHRM, 2017). For example, SJTs, work sample tests, and other tools that require
    demonstrations of leadership have high validity. However, they can also be very expensive in terms of design,
    development, and delivery.

    Emotional Intelligence Assessment Tools

    Emotional intelligence (EI) is the ability to competently handle interpersonal relationships along with being
    aware of and in complete control of one’s emotions (SHRM, 2017). Many organizations are looking for
    leaders who possess strong EI. EI assessment tools are a good way to identify the EI competency within a
    leader. EI assessment tools come in many shapes and sizes. There are some that are used for hiring,
    spotting high-potential candidates, coaching, and assessing performance feedback. Many of the EI
    assessment tools currently found in the open market have not been empirically evaluated (Giles, 2016). The
    three empirically evaluated EI assessment tools that have been identified in at least five published journal
    articles or book chapters with some empirical data to back their validity are BarOn Emotional Quotient
    Inventory, Emotional and Social Competence Inventory, and Genos Emotional Intelligence Inventory.

    For more information on additional empirically validated EI assessments, please consult the Consortium for
    Research on Emotional Intelligence in Organizations website.

    Leader Development Strategies

    Many organizations take a formal approach when designing developmental opportunities for leaders. This
    approach requires organizational discipline, design, implementation, and sustenance to keep the program
    running. Utilizing this approach can be very successful in shielding the organization from succession surprises
    and can also be a competitive advantage in a number of other ways.

    Leader Development Methods

    Below you will find a list of effective leadership development methods commonly used in organizations today.

    Challenging assignments: Individuals develop leadership capacity by being exposed to a variety of
    experiences that test and expand their abilities to handle a number of issues and scenarios. Scisco et al.
    (2017) mention how research has validated that high-performing employees tend to perform at their peak
    within 2 years of being in a new assignment and that performance declines after that if the individual is not
    given new and more challenging assignments. Often, leadership skills do not materialize until an individual is
    moved out of his or her comfort zone. Assigning high-performing individuals challenging assignments that are
    outside of their expertise will force them to identify collaborative resources and figure out on their own what
    they need to do to succeed.

    Risk management: With the exposure of more challenging assignments for the employee, the risk of failure
    substantially increases. Hence, there should be appropriate support given to the employee to minimize risk.
    This can come in the form of training, mentoring, coaching, and other forms of support. At the same time, this
    should be balanced by monitoring the amount of support given because too much support may compromise
    the value of the experience and keep the employee from developing core leadership competencies such as
    problem-solving and drawing on his or her own resources.

    Real-life problem-solving in a controlled environment: Some organizations use real-life situations to help
    leaders develop the core competencies for which they are searching (e.g., handling a real business mistake

    • A system-wide approach on leadership development can help build leadership capacity throughout
    the organization.

    • Initiatives in leadership development should align in all levels of the organization and provide a clear
    path of the skills and competencies needed to be developed from one level to the next.

    • Each manager should have an IDP where they are held accountable for making yearly progress.
    • Leadership development should be integrated into the ongoing work-related experience.

    HRM 6303, Training and Development 5

    UNIT x STUDY GUIDE
    Title

    or crisis that is actually happening within the organization). This is typically done in a controlled environment,
    such as a leadership development center or in a special taskforce, which allows the organization to manage
    the risk and have some control over the situation.

    Training: Often, organizations use formal training to help leaders develop the competencies they need to be
    successful in their roles. The training is typically done at a time when the leader may need to know something
    in order to achieve a specific result and has the opportunity to use the new knowledge in a real-life situation.
    This is where training becomes most effective in developing leadership competencies. Examples of this
    leadership methodology are workshops, seminars, or classes.

    Training and leadership development are important topics in any organization. Organizations today must have
    leaders who are prepared to lead in a global environment. Selecting the right leadership development
    methods is key to success.

    References

    Fernandez-Araoz, C., Roscoe, A., & Aramaki, K. (2017, November-December). Turning potential into

    success: The missing link in leadership development. Harvard Business Review, 95(6), 86.
    http://search.ebscohost.com.libraryresources.columbiasouthern.edu/login.aspx?direct=true&db=edsg
    ao&AN=edsgcl.513826863&site=eds-live&scope=site

    Giles, S. (2016). Developing organizational leaders. Society for Human Resource Management.

    https://www.shrm.org/resourcesandtools/tools-and-
    samples/toolkits/pages/developingorganizationalleaders.aspx

    Rawpixelimages (n.d.). ID 45539364 [Photograph]. Dreamstime. https://www.dreamstime.com/stock-photo-

    people-global-business-meeting-image45539364

    Scisco, P., Biech, E., & Hallenbeck, G. (2017). Compass: Your guide for leadership development and

    coaching. Center for Creative Leadership.

    Society for Human Research Management. (2017). SHRM research overview: Leadership development.

    https://www.shrm.org/hr-today/trends-and-forecasting/special-reports-and-expert-
    views/Documents/17-0396%20Research%20Overview%20Leadership%20Development%20FNL.pdf

    **## UnitVIIStudyGuide.pdf**

    HRM 6303, Training and Development 1

    Course Learning Outcomes for Unit VII

    Upon completion of this unit, students should be able to:

    7. Construct a rationale for designing training for leadership competencies.
    7.1 Discuss the leadership development strategy for a company.
    7.2 Explain assessment tools for identifying leadership capabilities.
    7.3 Discuss benefits of formal leadership development programs.

    Required Unit Resources

    In order to access the following resources, click the links below.

    Jenkins, D. M., & Allen, S. J. (2017, Winter). Aligning instructional strategies with learning outcomes and

    leadership competencies. New Directions for Student Leadership, 2017(156), 43–58.
    https://libraryresources.columbiasouthern.edu/login?url=http://search.ebscohost.com/login.aspx?direc
    t=true&db=a9h&AN=126316404&site=ehost-live&scope=site

    Leonard, H. S. (2017). A teachable approach to leadership. Consulting Psychology Journal: Practice and

    Research, 69(4), 243–266.
    https://libraryresources.columbiasouthern.edu/login?url=http://search.ebscohost.com/login.aspx?direc
    t=true&db=bsu&AN=128817733&site=ehost-live&scope=site

    Unit Lesson

    Introduction

    In this unit, we will explore the human resource role in leadership development, assessing leadership
    development needs, identifying competency gaps, and examine the assessment tools and strategies that can
    be utilized. This unit will take an in-depth look at training and leadership development.

    Leader Development

    The ability of an individual to influence a group or another individual toward the achievement of goals and
    results is considered leadership (Society for Human Resource Management [SHRM], 2017). In an
    organization’s hierarchy, leadership is not specifically attached to a certain position but, rather, can evolve
    from opportunities and situations. Also, when considering the subject of leadership in a global context, it
    should not be confused with the status, power, or some official authority. The ability to influence across
    cultures must be present among global leaders. Hence, it is important that leadership development practices
    be geared toward preparing and training leaders to lead in a global economy.

    UNIT VII STUDY GUIDE
    Leadership Development

    HRM 6303, Training and Development 2

    UNIT x STUDY GUIDE
    Title

    Today we see a global leadership environment across many industries.

    (Rawpixelimages, n.d.)

    Cultural considerations are vitally important in developing a leadership plan for today’s global environment.
    Leader development refers to an organization’s training and professional development program, which is
    targeted to assist management and executive-level employees in developing the flexibility, ability, and skills
    required to deal with a variety of situations (SHRM, 2017). In this unit, we will explore the role that human
    resources (HR) has in leadership development through the training and development function. We will also
    explore assessment tools for developing leaders, and lastly, we will examine various leadership development
    methodologies.

    HR’s Role in Leadership Development

    According to Giles (2016), HR plays a dual function when it comes to leadership development. The first
    function is that of a leader. HR professionals must consider their own role as leaders and the responsibilities
    that come with it. Often, through various functions (e.g., training and development, organizational change
    management), HR professionals are in a position that requires them to bring about change that is necessary
    to keep the organization competitive and successful.

    In addition, HR is responsible for identifying other leaders and potential leaders in the organization to
    maximize leadership succession planning efforts. Therefore, HR professionals must assess the organization’s
    leaders and their leadership needs on a regular basis. These needs must also be aligned with the
    organization’s strategic goals. HR is also responsible for providing leaders and potential leaders with
    adequate developmental experiences, relationships, and training needed for the continuation of development.

    Assessing Leadership Development Needs

    The training professional must begin looking at current leaders in relation to the organization’s goals and
    strategies when assessing leadership development needs (Scisco et al., 2017). Some of the things to
    consider when analyzing leadership development needs include:

    HRM 6303, Training and Development 3

    UNIT x STUDY GUIDE
    Title

    Most jobs, depending on the type and complexity, require a specific set of knowledge and skills. Competency
    mapping is often used for leadership or other positions to identify key competencies for a particular position.
    These competencies can be tied to behaviors and personal skills that distinguish excellent performance from
    the average. The competencies can be used in training and development, recruitment, performance
    management, succession planning, job evaluation, and many other aspects of the employees’ work.

    A competency assessment is typically a result of the key competencies formed during the mapping
    process. The competency assessment identifies the skill gaps against those specific competencies that
    the organization considers important. There are some organizations that may have their own competency
    assessments. However, many consultants and vendors offer competency assessment tools in various
    formats.

    An important aspect of performance management within leadership is the coaching and developing of skills
    needed to be successful (Fernandez-Araoz et al., 2017). The results from a competency assessment reveal
    how well a candidate or employee may perform the required skills needed for the job in relation to its
    performance standards. Competency assessments also provide the foundation of an individual development
    plan (IDP) and identify the necessary training and development programs needed to cultivate the skills and
    abilities needed to perform well. If you recall, the use of IDPs was discussed in an earlier unit.

    Assessment Tools for Leadership Development

    Some of the tools that organizations use to assess leadership ability include work sample measures. Work
    sample measures are assessment tools that require candidates to demonstrate levels of attained leadership
    proficiencies. These work samples include situation judgment tests (SJTs), simulations, and assessment
    centers.

    • Situational judgment tests (SJTs): Prospective leaders are presented with sample situations and
    problems that they may encounter in a work environment along with the probable answers.
    Candidates are asked to place the answers in order from best to worst, choose the best and worst
    answers, or just provide the best answer to the given situation.

    • Assessment centers and simulations: These are very similar to SJTs in that they can provide a
    candidate with a wide range of problem-solving exercises and leadership scenarios. These exercises
    or scenarios could include financial or business data analysis, leaderless group discussions, in-
    basket tests, role plays, and interview simulations. The series of exercises are observed by multiple

    HRM 6303, Training and Development 4

    UNIT x STUDY GUIDE
    Title

    raters who give an evaluation on each of the targeted performance factors. Then, assessors collect
    their results to provide an overall assessment score.

    Though these methods have proven to be highly successful, some methods have shown to be more useful
    than others (SHRM, 2017). For example, SJTs, work sample tests, and other tools that require
    demonstrations of leadership have high validity. However, they can also be very expensive in terms of design,
    development, and delivery.

    Emotional Intelligence Assessment Tools

    Emotional intelligence (EI) is the ability to competently handle interpersonal relationships along with being
    aware of and in complete control of one’s emotions (SHRM, 2017). Many organizations are looking for
    leaders who possess strong EI. EI assessment tools are a good way to identify the EI competency within a
    leader. EI assessment tools come in many shapes and sizes. There are some that are used for hiring,
    spotting high-potential candidates, coaching, and assessing performance feedback. Many of the EI
    assessment tools currently found in the open market have not been empirically evaluated (Giles, 2016). The
    three empirically evaluated EI assessment tools that have been identified in at least five published journal
    articles or book chapters with some empirical data to back their validity are BarOn Emotional Quotient
    Inventory, Emotional and Social Competence Inventory, and Genos Emotional Intelligence Inventory.

    For more information on additional empirically validated EI assessments, please consult the Consortium for
    Research on Emotional Intelligence in Organizations website.

    Leader Development Strategies

    Many organizations take a formal approach when designing developmental opportunities for leaders. This
    approach requires organizational discipline, design, implementation, and sustenance to keep the program
    running. Utilizing this approach can be very successful in shielding the organization from succession surprises
    and can also be a competitive advantage in a number of other ways.

    Leader Development Methods

    Below you will find a list of effective leadership development methods commonly used in organizations today.

    Challenging assignments: Individuals develop leadership capacity by being exposed to a variety of
    experiences that test and expand their abilities to handle a number of issues and scenarios. Scisco et al.
    (2017) mention how research has validated that high-performing employees tend to perform at their peak
    within 2 years of being in a new assignment and that performance declines after that if the individual is not
    given new and more challenging assignments. Often, leadership skills do not materialize until an individual is
    moved out of his or her comfort zone. Assigning high-performing individuals challenging assignments that are
    outside of their expertise will force them to identify collaborative resources and figure out on their own what
    they need to do to succeed.

    Risk management: With the exposure of more challenging assignments for the employee, the risk of failure
    substantially increases. Hence, there should be appropriate support given to the employee to minimize risk.
    This can come in the form of training, mentoring, coaching, and other forms of support. At the same time, this
    should be balanced by monitoring the amount of support given because too much support may compromise
    the value of the experience and keep the employee from developing core leadership competencies such as
    problem-solving and drawing on his or her own resources.

    Real-life problem-solving in a controlled environment: Some organizations use real-life situations to help
    leaders develop the core competencies for which they are searching (e.g., handling a real business mistake

    • A system-wide approach on leadership development can help build leadership capacity throughout
    the organization.

    • Initiatives in leadership development should align in all levels of the organization and provide a clear
    path of the skills and competencies needed to be developed from one level to the next.

    • Each manager should have an IDP where they are held accountable for making yearly progress.
    • Leadership development should be integrated into the ongoing work-related experience.

    HRM 6303, Training and Development 5

    UNIT x STUDY GUIDE
    Title

    or crisis that is actually happening within the organization). This is typically done in a controlled environment,
    such as a leadership development center or in a special taskforce, which allows the organization to manage
    the risk and have some control over the situation.

    Training: Often, organizations use formal training to help leaders develop the competencies they need to be
    successful in their roles. The training is typically done at a time when the leader may need to know something
    in order to achieve a specific result and has the opportunity to use the new knowledge in a real-life situation.
    This is where training becomes most effective in developing leadership competencies. Examples of this
    leadership methodology are workshops, seminars, or classes.

    Training and leadership development are important topics in any organization. Organizations today must have
    leaders who are prepared to lead in a global environment. Selecting the right leadership development
    methods is key to success.

    References

    Fernandez-Araoz, C., Roscoe, A., & Aramaki, K. (2017, November-December). Turning potential into

    success: The missing link in leadership development. Harvard Business Review, 95(6), 86.
    http://search.ebscohost.com.libraryresources.columbiasouthern.edu/login.aspx?direct=true&db=edsg
    ao&AN=edsgcl.513826863&site=eds-live&scope=site

    Giles, S. (2016). Developing organizational leaders. Society for Human Resource Management.

    https://www.shrm.org/resourcesandtools/tools-and-
    samples/toolkits/pages/developingorganizationalleaders.aspx

    Rawpixelimages (n.d.). ID 45539364 [Photograph]. Dreamstime. https://www.dreamstime.com/stock-photo-

    people-global-business-meeting-image45539364

    Scisco, P., Biech, E., & Hallenbeck, G. (2017). Compass: Your guide for leadership development and

    coaching. Center for Creative Leadership.

    Society for Human Research Management. (2017). SHRM research overview: Leadership development.

    https://www.shrm.org/hr-today/trends-and-forecasting/special-reports-and-expert-
    views/Documents/17-0396%20Research%20Overview%20Leadership%20Development%20FNL.pdf

    **## TrainingandDevelopmentHRM6303UnitVIIScholarlyActivity.docx**

    2

    Training and Development HRM 6303 Unit VII SA

    For this assignment, you will write a report that details the components of an executive leadership development program for a fictitious company. The fictitious company can be within an organization and industry of your choice. Do not use the name of or information about a real company. After you have chosen a type of organization and industry, include the following

    items in your report.

    · Include an introductory paragraph that lists the name and type of fictitious company, the country in which the home office is located, how long the company has been operating, and the number of executive leadership employees.

    · Discuss an executive leadership development strategy. Provide a vision for this strategy. For example, what are the outcomes of having a leadership development program for the organization? How will the leadership be structured?

    · Explain how you will assess leadership capabilities for the roles you have structured. Are there any leadership theories that you use as the basis for your decisions?

    · Describe one assessment tool that you will use to identify leadership capabilities. How will your leaders develop problemsolving skills and the ability to arrive at sound solutions?

    · Explain how you will facilitate the training for leadership. What trends do human resource professionals use for leadership training?

    · Conclude your report by describing the benefits that having a formal executive leadership development program will have on the organization (e.g., why a program is important and how it enhances the organization’s competitiveness).

    Your assignment must be five full pages in length and include at least one peer-reviewed or academic source from the CSU Online Library. Adhere to APA guidelines when constructing this assignment and include in-text citations and references for all sources that are used. Please note that no abstract is needed.

    **## UnitVIIStudyGuide.pdf**

    HRM 6303, Training and Development 1

    Course Learning Outcomes for Unit VII

    Upon completion of this unit, students should be able to:

    7. Construct a rationale for designing training for leadership competencies.
    7.1 Discuss the leadership development strategy for a company.
    7.2 Explain assessment tools for identifying leadership capabilities.
    7.3 Discuss benefits of formal leadership development programs.

    Required Unit Resources

    In order to access the following resources, click the links below.

    Jenkins, D. M., & Allen, S. J. (2017, Winter). Aligning instructional strategies with learning outcomes and

    leadership competencies. New Directions for Student Leadership, 2017(156), 43–58.
    https://libraryresources.columbiasouthern.edu/login?url=http://search.ebscohost.com/login.aspx?direc
    t=true&db=a9h&AN=126316404&site=ehost-live&scope=site

    Leonard, H. S. (2017). A teachable approach to leadership. Consulting Psychology Journal: Practice and

    Research, 69(4), 243–266.
    https://libraryresources.columbiasouthern.edu/login?url=http://search.ebscohost.com/login.aspx?direc
    t=true&db=bsu&AN=128817733&site=ehost-live&scope=site

    Unit Lesson

    Introduction

    In this unit, we will explore the human resource role in leadership development, assessing leadership
    development needs, identifying competency gaps, and examine the assessment tools and strategies that can
    be utilized. This unit will take an in-depth look at training and leadership development.

    Leader Development

    The ability of an individual to influence a group or another individual toward the achievement of goals and
    results is considered leadership (Society for Human Resource Management [SHRM], 2017). In an
    organization’s hierarchy, leadership is not specifically attached to a certain position but, rather, can evolve
    from opportunities and situations. Also, when considering the subject of leadership in a global context, it
    should not be confused with the status, power, or some official authority. The ability to influence across
    cultures must be present among global leaders. Hence, it is important that leadership development practices
    be geared toward preparing and training leaders to lead in a global economy.

    UNIT VII STUDY GUIDE
    Leadership Development

    HRM 6303, Training and Development 2

    UNIT x STUDY GUIDE
    Title

    Today we see a global leadership environment across many industries.

    (Rawpixelimages, n.d.)

    Cultural considerations are vitally important in developing a leadership plan for today’s global environment.
    Leader development refers to an organization’s training and professional development program, which is
    targeted to assist management and executive-level employees in developing the flexibility, ability, and skills
    required to deal with a variety of situations (SHRM, 2017). In this unit, we will explore the role that human
    resources (HR) has in leadership development through the training and development function. We will also
    explore assessment tools for developing leaders, and lastly, we will examine various leadership development
    methodologies.

    HR’s Role in Leadership Development

    According to Giles (2016), HR plays a dual function when it comes to leadership development. The first
    function is that of a leader. HR professionals must consider their own role as leaders and the responsibilities
    that come with it. Often, through various functions (e.g., training and development, organizational change
    management), HR professionals are in a position that requires them to bring about change that is necessary
    to keep the organization competitive and successful.

    In addition, HR is responsible for identifying other leaders and potential leaders in the organization to
    maximize leadership succession planning efforts. Therefore, HR professionals must assess the organization’s
    leaders and their leadership needs on a regular basis. These needs must also be aligned with the
    organization’s strategic goals. HR is also responsible for providing leaders and potential leaders with
    adequate developmental experiences, relationships, and training needed for the continuation of development.

    Assessing Leadership Development Needs

    The training professional must begin looking at current leaders in relation to the organization’s goals and
    strategies when assessing leadership development needs (Scisco et al., 2017). Some of the things to
    consider when analyzing leadership development needs include:

    HRM 6303, Training and Development 3

    UNIT x STUDY GUIDE
    Title

    Most jobs, depending on the type and complexity, require a specific set of knowledge and skills. Competency
    mapping is often used for leadership or other positions to identify key competencies for a particular position.
    These competencies can be tied to behaviors and personal skills that distinguish excellent performance from
    the average. The competencies can be used in training and development, recruitment, performance
    management, succession planning, job evaluation, and many other aspects of the employees’ work.

    A competency assessment is typically a result of the key competencies formed during the mapping
    process. The competency assessment identifies the skill gaps against those specific competencies that
    the organization considers important. There are some organizations that may have their own competency
    assessments. However, many consultants and vendors offer competency assessment tools in various
    formats.

    An important aspect of performance management within leadership is the coaching and developing of skills
    needed to be successful (Fernandez-Araoz et al., 2017). The results from a competency assessment reveal
    how well a candidate or employee may perform the required skills needed for the job in relation to its
    performance standards. Competency assessments also provide the foundation of an individual development
    plan (IDP) and identify the necessary training and development programs needed to cultivate the skills and
    abilities needed to perform well. If you recall, the use of IDPs was discussed in an earlier unit.

    Assessment Tools for Leadership Development

    Some of the tools that organizations use to assess leadership ability include work sample measures. Work
    sample measures are assessment tools that require candidates to demonstrate levels of attained leadership
    proficiencies. These work samples include situation judgment tests (SJTs), simulations, and assessment
    centers.

    • Situational judgment tests (SJTs): Prospective leaders are presented with sample situations and
    problems that they may encounter in a work environment along with the probable answers.
    Candidates are asked to place the answers in order from best to worst, choose the best and worst
    answers, or just provide the best answer to the given situation.

    • Assessment centers and simulations: These are very similar to SJTs in that they can provide a
    candidate with a wide range of problem-solving exercises and leadership scenarios. These exercises
    or scenarios could include financial or business data analysis, leaderless group discussions, in-
    basket tests, role plays, and interview simulations. The series of exercises are observed by multiple

    HRM 6303, Training and Development 4

    UNIT x STUDY GUIDE
    Title

    raters who give an evaluation on each of the targeted performance factors. Then, assessors collect
    their results to provide an overall assessment score.

    Though these methods have proven to be highly successful, some methods have shown to be more useful
    than others (SHRM, 2017). For example, SJTs, work sample tests, and other tools that require
    demonstrations of leadership have high validity. However, they can also be very expensive in terms of design,
    development, and delivery.

    Emotional Intelligence Assessment Tools

    Emotional intelligence (EI) is the ability to competently handle interpersonal relationships along with being
    aware of and in complete control of one’s emotions (SHRM, 2017). Many organizations are looking for
    leaders who possess strong EI. EI assessment tools are a good way to identify the EI competency within a
    leader. EI assessment tools come in many shapes and sizes. There are some that are used for hiring,
    spotting high-potential candidates, coaching, and assessing performance feedback. Many of the EI
    assessment tools currently found in the open market have not been empirically evaluated (Giles, 2016). The
    three empirically evaluated EI assessment tools that have been identified in at least five published journal
    articles or book chapters with some empirical data to back their validity are BarOn Emotional Quotient
    Inventory, Emotional and Social Competence Inventory, and Genos Emotional Intelligence Inventory.

    For more information on additional empirically validated EI assessments, please consult the Consortium for
    Research on Emotional Intelligence in Organizations website.

    Leader Development Strategies

    Many organizations take a formal approach when designing developmental opportunities for leaders. This
    approach requires organizational discipline, design, implementation, and sustenance to keep the program
    running. Utilizing this approach can be very successful in shielding the organization from succession surprises
    and can also be a competitive advantage in a number of other ways.

    Leader Development Methods

    Below you will find a list of effective leadership development methods commonly used in organizations today.

    Challenging assignments: Individuals develop leadership capacity by being exposed to a variety of
    experiences that test and expand their abilities to handle a number of issues and scenarios. Scisco et al.
    (2017) mention how research has validated that high-performing employees tend to perform at their peak
    within 2 years of being in a new assignment and that performance declines after that if the individual is not
    given new and more challenging assignments. Often, leadership skills do not materialize until an individual is
    moved out of his or her comfort zone. Assigning high-performing individuals challenging assignments that are
    outside of their expertise will force them to identify collaborative resources and figure out on their own what
    they need to do to succeed.

    Risk management: With the exposure of more challenging assignments for the employee, the risk of failure
    substantially increases. Hence, there should be appropriate support given to the employee to minimize risk.
    This can come in the form of training, mentoring, coaching, and other forms of support. At the same time, this
    should be balanced by monitoring the amount of support given because too much support may compromise
    the value of the experience and keep the employee from developing core leadership competencies such as
    problem-solving and drawing on his or her own resources.

    Real-life problem-solving in a controlled environment: Some organizations use real-life situations to help
    leaders develop the core competencies for which they are searching (e.g., handling a real business mistake

    • A system-wide approach on leadership development can help build leadership capacity throughout
    the organization.

    • Initiatives in leadership development should align in all levels of the organization and provide a clear
    path of the skills and competencies needed to be developed from one level to the next.

    • Each manager should have an IDP where they are held accountable for making yearly progress.
    • Leadership development should be integrated into the ongoing work-related experience.

    HRM 6303, Training and Development 5

    UNIT x STUDY GUIDE
    Title

    or crisis that is actually happening within the organization). This is typically done in a controlled environment,
    such as a leadership development center or in a special taskforce, which allows the organization to manage
    the risk and have some control over the situation.

    Training: Often, organizations use formal training to help leaders develop the competencies they need to be
    successful in their roles. The training is typically done at a time when the leader may need to know something
    in order to achieve a specific result and has the opportunity to use the new knowledge in a real-life situation.
    This is where training becomes most effective in developing leadership competencies. Examples of this
    leadership methodology are workshops, seminars, or classes.

    Training and leadership development are important topics in any organization. Organizations today must have
    leaders who are prepared to lead in a global environment. Selecting the right leadership development
    methods is key to success.

    References

    Fernandez-Araoz, C., Roscoe, A., & Aramaki, K. (2017, November-December). Turning potential into

    success: The missing link in leadership development. Harvard Business Review, 95(6), 86.
    http://search.ebscohost.com.libraryresources.columbiasouthern.edu/login.aspx?direct=true&db=edsg
    ao&AN=edsgcl.513826863&site=eds-live&scope=site

    Giles, S. (2016). Developing organizational leaders. Society for Human Resource Management.

    https://www.shrm.org/resourcesandtools/tools-and-
    samples/toolkits/pages/developingorganizationalleaders.aspx

    Rawpixelimages (n.d.). ID 45539364 [Photograph]. Dreamstime. https://www.dreamstime.com/stock-photo-

    people-global-business-meeting-image45539364

    Scisco, P., Biech, E., & Hallenbeck, G. (2017). Compass: Your guide for leadership development and

    coaching. Center for Creative Leadership.

    Society for Human Research Management. (2017). SHRM research overview: Leadership development.

    https://www.shrm.org/hr-today/trends-and-forecasting/special-reports-and-expert-
    views/Documents/17-0396%20Research%20Overview%20Leadership%20Development%20FNL.pdf

    **## TrainingandDevelopmentHRM6303UnitVIIScholarlyActivity.docx**

    2

    Training and Development HRM 6303 Unit VII SA

    For this assignment, you will write a report that details the components of an executive leadership development program for a fictitious company. The fictitious company can be within an organization and industry of your choice. Do not use the name of or information about a real company. After you have chosen a type of organization and industry, include the following

    items in your report.

    · Include an introductory paragraph that lists the name and type of fictitious company, the country in which the home office is located, how long the company has been operating, and the number of executive leadership employees.

    · Discuss an executive leadership development strategy. Provide a vision for this strategy. For example, what are the outcomes of having a leadership development program for the organization? How will the leadership be structured?

    · Explain how you will assess leadership capabilities for the roles you have structured. Are there any leadership theories that you use as the basis for your decisions?

    · Describe one assessment tool that you will use to identify leadership capabilities. How will your leaders develop problemsolving skills and the ability to arrive at sound solutions?

    · Explain how you will facilitate the training for leadership. What trends do human resource professionals use for leadership training?

    · Conclude your report by describing the benefits that having a formal executive leadership development program will have on the organization (e.g., why a program is important and how it enhances the organization’s competitiveness).

    Your assignment must be five full pages in length and include at least one peer-reviewed or academic source from the CSU Online Library. Adhere to APA guidelines when constructing this assignment and include in-text citations and references for all sources that are used. Please note that no abstract is needed.

    **## UnitVIIStudyGuide.pdf**

    HRM 6303, Training and Development 1

    Course Learning Outcomes for Unit VII

    Upon completion of this unit, students should be able to:

    7. Construct a rationale for designing training for leadership competencies.
    7.1 Discuss the leadership development strategy for a company.
    7.2 Explain assessment tools for identifying leadership capabilities.
    7.3 Discuss benefits of formal leadership development programs.

    Required Unit Resources

    In order to access the following resources, click the links below.

    Jenkins, D. M., & Allen, S. J. (2017, Winter). Aligning instructional strategies with learning outcomes and

    leadership competencies. New Directions for Student Leadership, 2017(156), 43–58.
    https://libraryresources.columbiasouthern.edu/login?url=http://search.ebscohost.com/login.aspx?direc
    t=true&db=a9h&AN=126316404&site=ehost-live&scope=site

    Leonard, H. S. (2017). A teachable approach to leadership. Consulting Psychology Journal: Practice and

    Research, 69(4), 243–266.
    https://libraryresources.columbiasouthern.edu/login?url=http://search.ebscohost.com/login.aspx?direc
    t=true&db=bsu&AN=128817733&site=ehost-live&scope=site

    Unit Lesson

    Introduction

    In this unit, we will explore the human resource role in leadership development, assessing leadership
    development needs, identifying competency gaps, and examine the assessment tools and strategies that can
    be utilized. This unit will take an in-depth look at training and leadership development.

    Leader Development

    The ability of an individual to influence a group or another individual toward the achievement of goals and
    results is considered leadership (Society for Human Resource Management [SHRM], 2017). In an
    organization’s hierarchy, leadership is not specifically attached to a certain position but, rather, can evolve
    from opportunities and situations. Also, when considering the subject of leadership in a global context, it
    should not be confused with the status, power, or some official authority. The ability to influence across
    cultures must be present among global leaders. Hence, it is important that leadership development practices
    be geared toward preparing and training leaders to lead in a global economy.

    UNIT VII STUDY GUIDE
    Leadership Development

    HRM 6303, Training and Development 2

    UNIT x STUDY GUIDE
    Title

    Today we see a global leadership environment across many industries.

    (Rawpixelimages, n.d.)

    Cultural considerations are vitally important in developing a leadership plan for today’s global environment.
    Leader development refers to an organization’s training and professional development program, which is
    targeted to assist management and executive-level employees in developing the flexibility, ability, and skills
    required to deal with a variety of situations (SHRM, 2017). In this unit, we will explore the role that human
    resources (HR) has in leadership development through the training and development function. We will also
    explore assessment tools for developing leaders, and lastly, we will examine various leadership development
    methodologies.

    HR’s Role in Leadership Development

    According to Giles (2016), HR plays a dual function when it comes to leadership development. The first
    function is that of a leader. HR professionals must consider their own role as leaders and the responsibilities
    that come with it. Often, through various functions (e.g., training and development, organizational change
    management), HR professionals are in a position that requires them to bring about change that is necessary
    to keep the organization competitive and successful.

    In addition, HR is responsible for identifying other leaders and potential leaders in the organization to
    maximize leadership succession planning efforts. Therefore, HR professionals must assess the organization’s
    leaders and their leadership needs on a regular basis. These needs must also be aligned with the
    organization’s strategic goals. HR is also responsible for providing leaders and potential leaders with
    adequate developmental experiences, relationships, and training needed for the continuation of development.

    Assessing Leadership Development Needs

    The training professional must begin looking at current leaders in relation to the organization’s goals and
    strategies when assessing leadership development needs (Scisco et al., 2017). Some of the things to
    consider when analyzing leadership development needs include:

    HRM 6303, Training and Development 3

    UNIT x STUDY GUIDE
    Title

    Most jobs, depending on the type and complexity, require a specific set of knowledge and skills. Competency
    mapping is often used for leadership or other positions to identify key competencies for a particular position.
    These competencies can be tied to behaviors and personal skills that distinguish excellent performance from
    the average. The competencies can be used in training and development, recruitment, performance
    management, succession planning, job evaluation, and many other aspects of the employees’ work.

    A competency assessment is typically a result of the key competencies formed during the mapping
    process. The competency assessment identifies the skill gaps against those specific competencies that
    the organization considers important. There are some organizations that may have their own competency
    assessments. However, many consultants and vendors offer competency assessment tools in various
    formats.

    An important aspect of performance management within leadership is the coaching and developing of skills
    needed to be successful (Fernandez-Araoz et al., 2017). The results from a competency assessment reveal
    how well a candidate or employee may perform the required skills needed for the job in relation to its
    performance standards. Competency assessments also provide the foundation of an individual development
    plan (IDP) and identify the necessary training and development programs needed to cultivate the skills and
    abilities needed to perform well. If you recall, the use of IDPs was discussed in an earlier unit.

    Assessment Tools for Leadership Development

    Some of the tools that organizations use to assess leadership ability include work sample measures. Work
    sample measures are assessment tools that require candidates to demonstrate levels of attained leadership
    proficiencies. These work samples include situation judgment tests (SJTs), simulations, and assessment
    centers.

    • Situational judgment tests (SJTs): Prospective leaders are presented with sample situations and
    problems that they may encounter in a work environment along with the probable answers.
    Candidates are asked to place the answers in order from best to worst, choose the best and worst
    answers, or just provide the best answer to the given situation.

    • Assessment centers and simulations: These are very similar to SJTs in that they can provide a
    candidate with a wide range of problem-solving exercises and leadership scenarios. These exercises
    or scenarios could include financial or business data analysis, leaderless group discussions, in-
    basket tests, role plays, and interview simulations. The series of exercises are observed by multiple

    HRM 6303, Training and Development 4

    UNIT x STUDY GUIDE
    Title

    raters who give an evaluation on each of the targeted performance factors. Then, assessors collect
    their results to provide an overall assessment score.

    Though these methods have proven to be highly successful, some methods have shown to be more useful
    than others (SHRM, 2017). For example, SJTs, work sample tests, and other tools that require
    demonstrations of leadership have high validity. However, they can also be very expensive in terms of design,
    development, and delivery.

    Emotional Intelligence Assessment Tools

    Emotional intelligence (EI) is the ability to competently handle interpersonal relationships along with being
    aware of and in complete control of one’s emotions (SHRM, 2017). Many organizations are looking for
    leaders who possess strong EI. EI assessment tools are a good way to identify the EI competency within a
    leader. EI assessment tools come in many shapes and sizes. There are some that are used for hiring,
    spotting high-potential candidates, coaching, and assessing performance feedback. Many of the EI
    assessment tools currently found in the open market have not been empirically evaluated (Giles, 2016). The
    three empirically evaluated EI assessment tools that have been identified in at least five published journal
    articles or book chapters with some empirical data to back their validity are BarOn Emotional Quotient
    Inventory, Emotional and Social Competence Inventory, and Genos Emotional Intelligence Inventory.

    For more information on additional empirically validated EI assessments, please consult the Consortium for
    Research on Emotional Intelligence in Organizations website.

    Leader Development Strategies

    Many organizations take a formal approach when designing developmental opportunities for leaders. This
    approach requires organizational discipline, design, implementation, and sustenance to keep the program
    running. Utilizing this approach can be very successful in shielding the organization from succession surprises
    and can also be a competitive advantage in a number of other ways.

    Leader Development Methods

    Below you will find a list of effective leadership development methods commonly used in organizations today.

    Challenging assignments: Individuals develop leadership capacity by being exposed to a variety of
    experiences that test and expand their abilities to handle a number of issues and scenarios. Scisco et al.
    (2017) mention how research has validated that high-performing employees tend to perform at their peak
    within 2 years of being in a new assignment and that performance declines after that if the individual is not
    given new and more challenging assignments. Often, leadership skills do not materialize until an individual is
    moved out of his or her comfort zone. Assigning high-performing individuals challenging assignments that are
    outside of their expertise will force them to identify collaborative resources and figure out on their own what
    they need to do to succeed.

    Risk management: With the exposure of more challenging assignments for the employee, the risk of failure
    substantially increases. Hence, there should be appropriate support given to the employee to minimize risk.
    This can come in the form of training, mentoring, coaching, and other forms of support. At the same time, this
    should be balanced by monitoring the amount of support given because too much support may compromise
    the value of the experience and keep the employee from developing core leadership competencies such as
    problem-solving and drawing on his or her own resources.

    Real-life problem-solving in a controlled environment: Some organizations use real-life situations to help
    leaders develop the core competencies for which they are searching (e.g., handling a real business mistake

    • A system-wide approach on leadership development can help build leadership capacity throughout
    the organization.

    • Initiatives in leadership development should align in all levels of the organization and provide a clear
    path of the skills and competencies needed to be developed from one level to the next.

    • Each manager should have an IDP where they are held accountable for making yearly progress.
    • Leadership development should be integrated into the ongoing work-related experience.

    HRM 6303, Training and Development 5

    UNIT x STUDY GUIDE
    Title

    or crisis that is actually happening within the organization). This is typically done in a controlled environment,
    such as a leadership development center or in a special taskforce, which allows the organization to manage
    the risk and have some control over the situation.

    Training: Often, organizations use formal training to help leaders develop the competencies they need to be
    successful in their roles. The training is typically done at a time when the leader may need to know something
    in order to achieve a specific result and has the opportunity to use the new knowledge in a real-life situation.
    This is where training becomes most effective in developing leadership competencies. Examples of this
    leadership methodology are workshops, seminars, or classes.

    Training and leadership development are important topics in any organization. Organizations today must have
    leaders who are prepared to lead in a global environment. Selecting the right leadership development
    methods is key to success.

    References

    Fernandez-Araoz, C., Roscoe, A., & Aramaki, K. (2017, November-December). Turning potential into

    success: The missing link in leadership development. Harvard Business Review, 95(6), 86.
    http://search.ebscohost.com.libraryresources.columbiasouthern.edu/login.aspx?direct=true&db=edsg
    ao&AN=edsgcl.513826863&site=eds-live&scope=site

    Giles, S. (2016). Developing organizational leaders. Society for Human Resource Management.

    https://www.shrm.org/resourcesandtools/tools-and-
    samples/toolkits/pages/developingorganizationalleaders.aspx

    Rawpixelimages (n.d.). ID 45539364 [Photograph]. Dreamstime. https://www.dreamstime.com/stock-photo-

    people-global-business-meeting-image45539364

    Scisco, P., Biech, E., & Hallenbeck, G. (2017). Compass: Your guide for leadership development and

    coaching. Center for Creative Leadership.

    Society for Human Research Management. (2017). SHRM research overview: Leadership development.

    https://www.shrm.org/hr-today/trends-and-forecasting/special-reports-and-expert-
    views/Documents/17-0396%20Research%20Overview%20Leadership%20Development%20FNL.pdf

    – 1
    – 2

  • [Solved] Business Finance – Management Help with excel signature assignment

    ✓ Verified Academic Solution Available

    Executive Solution Overview

    excel Signature assignment including data and rubric \ 78552595484__EAE1D3E9-DA4A-4387-8E4B-F401D16A7313.MOV](https://www.sweetstudy.com/files/78552595484-eae1d3e9-da4a-4387-8e4b-f401d16a7313-mov "78552595484__EAE1D3E9-DA4A-4387-8E4B-F401D16A7313.MOV")

    Instant Solution Download

    $6.99

    Immediate access to the full model answer, formatted citations, and rubric breakdown.

    Need a Fresh Custom Paper?

    Have this question answered from scratch according to your specific instructions and deadline.

    Order on TutorsGallery →

    Assignment Prompt & Instructions

    excel Signature assignment including data and rubric
    \
    78552595484__EAE1D3E9-DA4A-4387-8E4B-F401D16A7313.MOV](https://www.sweetstudy.com/files/78552595484-eae1d3e9-da4a-4387-8e4b-f401d16a7313-mov "78552595484__EAE1D3E9-DA4A-4387-8E4B-F401D16A7313.MOV")

  • [Solved] MArketing strategy

    ✓ Verified Academic Solution Available

    Executive Solution Overview

    – ## CaterpillarCase.docx **## CaterpillarCase.docx** ![Text Description automatically generated](https://www.sweetstudy.com/questions/marketing-strategy-20950769) ![Text Description automatically generated](https://www.sweetstudy.com/questions/marketing-strategy-20950769) ![Timeline Description aut…

    Instant Solution Download

    $6.99

    Immediate access to the full model answer, formatted citations, and rubric breakdown.

    Need a Fresh Custom Paper?

    Have this question answered from scratch according to your specific instructions and deadline.

    Order on TutorsGallery →

    Assignment Prompt & Instructions

    – ## CaterpillarCase.docx

    **## CaterpillarCase.docx**

    ![Text Description automatically generated](https://www.sweetstudy.com/questions/marketing-strategy-20950769)

    ![Text Description automatically generated](https://www.sweetstudy.com/questions/marketing-strategy-20950769)

    ![Timeline Description automatically generated](https://www.sweetstudy.com/questions/marketing-strategy-20950769)

    ![A picture containing text Description automatically generated](https://www.sweetstudy.com/questions/marketing-strategy-20950769)

    ![Text Description automatically generated](https://www.sweetstudy.com/questions/marketing-strategy-20950769)

    ![Text Description automatically generated](https://www.sweetstudy.com/questions/marketing-strategy-20950769)

    ## image1.png

    ## image2.png

    ## image3.png

    ## image4.png

    ## image5.png

    ## image6.png

    **## CaterpillarCase.docx**

    ![Text Description automatically generated](https://www.sweetstudy.com/questions/marketing-strategy-20950769)

    ![Text Description automatically generated](https://www.sweetstudy.com/questions/marketing-strategy-20950769)

    ![Timeline Description automatically generated](https://www.sweetstudy.com/questions/marketing-strategy-20950769)

    ![A picture containing text Description automatically generated](https://www.sweetstudy.com/questions/marketing-strategy-20950769)

    ![Text Description automatically generated](https://www.sweetstudy.com/questions/marketing-strategy-20950769)

    ![Text Description automatically generated](https://www.sweetstudy.com/questions/marketing-strategy-20950769)

    ## image1.png

    ## image2.png

    ## image3.png

    ## image4.png

    ## image5.png

    ## image6.png

  • [Solved] QSO 340 Module Four Case Scenario Guidelines and Rubric Overview

    ✓ Verified Academic Solution Available

    Executive Solution Overview

    ## QSO 340 Module Four Case Scenario Guidelines and Rubric ### Overview One important project planning activity is to create a communication plan that helps establish clear and efficient lines of communication. In this assignment, you will create a communication plan for the XYZ Business Workflow pr…

    Instant Solution Download

    $6.99

    Immediate access to the full model answer, formatted citations, and rubric breakdown.

    Need a Fresh Custom Paper?

    Have this question answered from scratch according to your specific instructions and deadline.

    Order on TutorsGallery →

    Assignment Prompt & Instructions

    ## QSO 340 Module Four Case Scenario Guidelines and Rubric
    ### Overview
    One important project planning activity is to create a communication plan that helps establish clear and efficient lines of communication. In this assignment, you will create a communication plan for the XYZ Business Workflow project.
    ### Directions
    Create a communication plan for the XYZ Business Workflow software development project team. Use the scenario and project information from Project One, including the project plan documents you have created, to inform your communication plan.
    Specifically, you must address the following rubric criteria:
    – Show a clear **communication** **channel** that demonstrates the flow of information between the members of the project team, project manager, and other project stakeholders.
    – This should be a diagram that illustrates the flow of communication for the project. This is a visual representation of that flow.
    – Describe the **scope of communication** by explaining the type of information that should be shared by and with all stakeholders associated with the project, including the frequency, level of detail, and recommended response time for different types of information.
    – This would be best represented in a chart or a table format.
    – Outline the **methods** or techniques **of communication** for key pieces of information with examples as needed; list communication technologies to use where relevant.
    – The team should use the methods based on the type of information they need to share.
    – You may include this information in the table you created for the scope of communication.
    – Describe expectations for **specific communication processes**, such as status meetings, the escalation process, project progress, and so on.
    – Include the sender, recipients, or participants in the processes and list the method and frequency of these communication processes.
    For your response, you can draw on the course material, your experience, and research.
    ### What to Submit
    Submit a single Word document of 2 to 4 pages containing the communication plan.
    ### Module Four Case Scenario Rubric
    CriteriaExceeds ExpectationsMeets ExpectationsPartially Meets ExpectationsDoes Not Meet ExpectationsValue **Communication Channel** N/AShows a clear communication channel that demonstrates the flow of information between members of the project team, project manager, and other project stakeholders (100%)Shows a clear communication channel but with errors or omissions; areas for improvement may include a few missing or incorrect lines of communication (55%)Does not show a clear communication channel (0%)25 **Scope of Communication** Exceeds expectations in an exceptionally clear, insightful, sophisticated, or creative manner (100%)Describes the scope of communication by explaining the type of information that should be shared by and with all stakeholders associated with the project, including the frequency, level of detail, and recommended response time for different types of information (85%)Describes the scope of communication by explaining the type of information that should be shared by and with all stakeholders associated with the project, but the response is lacking detail or clarity or does not include the frequency and response time (55%)Does not describe the scope of communication (0%)25 **Methods of Communication** Exceeds expectations in an exceptionally clear, insightful, sophisticated, or creative manner (100%)Outlines the methods or techniques of communication for key pieces of information with examples as needed; lists communication technologies to use where relevant (85%)Outlines the methods or techniques of communication for key pieces of information but with errors or omissions (55%)Does not outline the methods or techniques of communication for key pieces of information (0%)20 **Specific Communication Processes** Exceeds expectations in an exceptionally clear, insightful, sophisticated, or creative manner (100%)Describes expectations for special communication processes such as status meetings, the escalation process, project progress, and so on; includes sender, recipients, or participants in the processes; lists the method and frequency of these communication processes (85%)Describes expectations for special communication processes such as status meetings, the escalation process, or project progress but with errors or omissions (55%)Does not describe expectations for special communication processes such as status meetings, the escalation process, or project progress (0%)20 **Clear Communication** Exceeds expectations with an intentional use of language that promotes a thorough understanding (100%)Consistently and effectively communicates in an organized way to a specific audience (85%)Shows progress toward meeting expectations, but communication is inconsistent or ineffective in a way that negatively impacts understanding (55%)Shows no evidence of consistent, effective, or organized communication (0%)10 **Total:** 100%

  • [Solved] D4

    ✓ Verified Academic Solution Available

    Executive Solution Overview

    – ## Instruction.docx – RequestforProposal_Tool_with_Instructions.docx **## Instruction.docx** ### Course Project: Request for Proposal (RFP) ### Instructions This week, you are required to produce your project Request for Proposal (RFP) deliverable. The RFP is a formal invitation issued by the U…

    Instant Solution Download

    $6.99

    Immediate access to the full model answer, formatted citations, and rubric breakdown.

    Need a Fresh Custom Paper?

    Have this question answered from scratch according to your specific instructions and deadline.

    Order on TutorsGallery →

    Assignment Prompt & Instructions

    – ## Instruction.docx

    – RequestforProposal_Tool_with_Instructions.docx

    **## Instruction.docx**

    ### Course Project: Request for Proposal (RFP)

    ### Instructions This week, you are required to produce your project Request for Proposal (RFP) deliverable. The RFP is a formal invitation issued by the University of Prosperity requesting interested PPM vendors to submit written proposals meeting a set of requirements. If interested in bidding for the project, vendors respond with a description of the techniques they would employ to meet the requirements, a plan of work, and a detailed budget for the project, along with supporting information. Please use the Request for Proposal (RFP) Tool provided to help you produce your project deliverable due this week. The Request for Proposal (RFP) must contain the following sections. 1. Statement of Work 2. Original RFP Document and Grounds for Disqualification 3. Organization 4. Existent Technology Environment 5. Schedule 6. Proposal Submission 7. Communication 8. Scope of Work 9. Functional Requirements 10. Technical Specifications 11. Vendor Qualifications and References 12. Budget and Estimated Pricing 13. Nondisclosure Agreement

    ### For full compliance, please ensure:

    ### A References page appears as a standalone final page in APA 7th edition format.

    ### Include a Cover Sheet with your name, the course title, and the professor’s name.

    ### To reach a perfect score, include  **page numbers** when referencing PMBOK or textbook concepts, as required in the assignment instructions.

    **RequestforProposal_Tool_with_Instructions.docx**

    This file is too large to display. [View in new window](https://www.sweetstudy.com/files/requestforproposal-tool-with-instructions-docx)

    **RequestforProposal_Tool_with_Instructions.docx**

    This file is too large to display. [View in new window](https://www.sweetstudy.com/files/requestforproposal-tool-with-instructions-docx)

    **## Instruction.docx**

    ### Course Project: Request for Proposal (RFP)

    ### Instructions This week, you are required to produce your project Request for Proposal (RFP) deliverable. The RFP is a formal invitation issued by the University of Prosperity requesting interested PPM vendors to submit written proposals meeting a set of requirements. If interested in bidding for the project, vendors respond with a description of the techniques they would employ to meet the requirements, a plan of work, and a detailed budget for the project, along with supporting information. Please use the Request for Proposal (RFP) Tool provided to help you produce your project deliverable due this week. The Request for Proposal (RFP) must contain the following sections. 1. Statement of Work 2. Original RFP Document and Grounds for Disqualification 3. Organization 4. Existent Technology Environment 5. Schedule 6. Proposal Submission 7. Communication 8. Scope of Work 9. Functional Requirements 10. Technical Specifications 11. Vendor Qualifications and References 12. Budget and Estimated Pricing 13. Nondisclosure Agreement

    ### For full compliance, please ensure:

    ### A References page appears as a standalone final page in APA 7th edition format.

    ### Include a Cover Sheet with your name, the course title, and the professor’s name.

    ### To reach a perfect score, include  **page numbers** when referencing PMBOK or textbook concepts, as required in the assignment instructions.

    **RequestforProposal_Tool_with_Instructions.docx**

    This file is too large to display. [View in new window](https://www.sweetstudy.com/files/requestforproposal-tool-with-instructions-docx)

    **## Instruction.docx**

    ### Course Project: Request for Proposal (RFP)

    ### Instructions This week, you are required to produce your project Request for Proposal (RFP) deliverable. The RFP is a formal invitation issued by the University of Prosperity requesting interested PPM vendors to submit written proposals meeting a set of requirements. If interested in bidding for the project, vendors respond with a description of the techniques they would employ to meet the requirements, a plan of work, and a detailed budget for the project, along with supporting information. Please use the Request for Proposal (RFP) Tool provided to help you produce your project deliverable due this week. The Request for Proposal (RFP) must contain the following sections. 1. Statement of Work 2. Original RFP Document and Grounds for Disqualification 3. Organization 4. Existent Technology Environment 5. Schedule 6. Proposal Submission 7. Communication 8. Scope of Work 9. Functional Requirements 10. Technical Specifications 11. Vendor Qualifications and References 12. Budget and Estimated Pricing 13. Nondisclosure Agreement

    ### For full compliance, please ensure:

    ### A References page appears as a standalone final page in APA 7th edition format.

    ### Include a Cover Sheet with your name, the course title, and the professor’s name.

    ### To reach a perfect score, include  **page numbers** when referencing PMBOK or textbook concepts, as required in the assignment instructions.

    **RequestforProposal_Tool_with_Instructions.docx**

    This file is too large to display. [View in new window](https://www.sweetstudy.com/files/requestforproposal-tool-with-instructions-docx)

    – 1
    – 2

  • [Solved] A-23- Article Review

    ✓ Verified Academic Solution Available

    Executive Solution Overview

    In-depth study guidance and analytical solution covering A-23- Article Review.

    Instant Solution Download

    $6.99

    Immediate access to the full model answer, formatted citations, and rubric breakdown.

    Need a Fresh Custom Paper?

    Have this question answered from scratch according to your specific instructions and deadline.

    Order on TutorsGallery →

    Assignment Prompt & Instructions

    Full assignment prompt and step-by-step guidance are included in the downloadable solution file.

  • [Solved] For isabella

    ✓ Verified Academic Solution Available

    Executive Solution Overview

    In-depth study guidance and analytical solution covering For isabella.

    Instant Solution Download

    $6.99

    Immediate access to the full model answer, formatted citations, and rubric breakdown.

    Need a Fresh Custom Paper?

    Have this question answered from scratch according to your specific instructions and deadline.

    Order on TutorsGallery →

    Assignment Prompt & Instructions

    Full assignment prompt and step-by-step guidance are included in the downloadable solution file.

  • [Solved] Project Management Plan Baselines

    ✓ Verified Academic Solution Available

    Executive Solution Overview

    WEBSITE: https://sourceforge.net/projects/projectlibre/ Download ProjectLibre to your computer: Open the SourceForge webpage Select the Download button under the heading, ProjectLibre – Project Management. Follow the three steps to download ProjectLibre to your computer. **Note: Sometimes you may …

    Instant Solution Download

    $6.99

    Immediate access to the full model answer, formatted citations, and rubric breakdown.

    Need a Fresh Custom Paper?

    Have this question answered from scratch according to your specific instructions and deadline.

    Order on TutorsGallery →

    Assignment Prompt & Instructions

    WEBSITE: https://sourceforge.net/projects/projectlibre/
    Download ProjectLibre to your computer: Open the SourceForge webpage
    Select the Download button under the heading, ProjectLibre – Project Management.
    Follow the three steps to download ProjectLibre to your computer.
    **Note: Sometimes you may need to provide information such as your email address. **You can ignore or close these pop-ups. You do not need to register to use ProjectLibre.**
    In this assignment, you will create a project management plan (PMP) baseline, which includes a scope and a WBS, a project schedule, and a project budget. This assignment has four major elements, along with their individual elements.
    **For your assignment,**
    Develop the scope document in MS Word. The scope document should:
    Create a scope description consistent with the authority granted in the project charter.
    List the project deliverables that will enable resolution of the current problems in the current logistics operation.
    Outline the acceptance criteria for each deliverable.
    Establish the project’s limitations or boundaries.
    Summarize the change control process that will be used during the project.
    Create an indented WBS for five to ten intermediate tasks using ProjectLibre.
    Include within each intermediate task two to three sub tasks. Review the ProjectLibre: How to Introduction Demo (Project Management Software)Links to an external site. video for additional help with using ProjectLibre.
    Note: Save your WBS in ProjectLibre.
    Develop a project schedule using the WBS you already created as the starting point. You should complete this using ProjectLibre. The project will start February of Year 0 and should finish in December.
    Note: Save your project schedule, including the Gantt chart, in ProjectLibre.
    The project schedule should:
    Start on February 1st and complete before December 31st of the year you are taking this class. That will be Year 0.
    · Identify the precursor activities, as necessary.
    · Sequence the activities.
    · Indicate a single start and end date for each task.
    · Create a project budget. You may create the budget in ProjectLibre or in MS Excel.
    If you choose MS Excel:
    · Copy your work from ProjectLibre to MS Excel:
    · Put the cursor in the upper-left box to darken all the columns, use “CTRL C” to copy the ProjectLibre content, and then paste into MS Excel.
    · Add another column for budget. Assign a budget to each task. You have full discretion to develop the budget, subject to the following guidelines:
    · The total budget may not exceed $100,000.
    · Each task must be assigned a budget.
    · If you choose ProjectLibre:
    · You have full discretion to develop the budget, subject to the following guidelines:
    · The total budget may not exceed $100,000.
    · Each task must be assigned a budget.
    · You may submit the project schedule and the resource breakdown structure separately if you choose.
    Note: Save all your ProjectLibre work in a PDF. You may also save the project WBS and schedule from ProjectLibre in a PDF file and save the budget in MS Excel. Save the project schedule and budget in ProjectLibre and MS Excel, as you will use this information for your Week 3 assignment.
    **For Week 2, submit the scope MS Word document for grading. Additionally, submit the WBS, project schedule, and budget from ProjectLibre in a PDF or the WBS and Project Schedule from ProjectLibre in a PDF and the budget in a MS Excel document.**
    The Project Management Plan Baselines paper
    · must be three to four double-spaced pages in length (not including title and references pages) and formatted according to APA,
    · must include an introduction and conclusion paragraph.
    · Your introduction paragraph needs to end with a clear thesis statement that indicates the purpose of your paper.
    · must use at least one credible or industry source in addition to the course text
    \
    Week2.docx](https://www.sweetstudy.com/files/week2-docx-10454107 "Week2.docx")

  • [Solved] DBs

    ✓ Verified Academic Solution Available

    Executive Solution Overview

    Each DB 200 words minimum and at least 1 credible reference 1. This week, as the project manager for International Logistics Services, you are starting to form the project team. An employee who works on the loading dock recently earned the Project Management Institute’s Certified Associate Project …

    Instant Solution Download

    $6.99

    Immediate access to the full model answer, formatted citations, and rubric breakdown.

    Need a Fresh Custom Paper?

    Have this question answered from scratch according to your specific instructions and deadline.

    Order on TutorsGallery →

    Assignment Prompt & Instructions

    Each DB 200 words minimum  and at least 1 credible reference
    1. This week, as the project manager for International Logistics Services, you are starting to form the project team. An employee who works on the loading dock recently earned the Project Management Institute’s Certified Associate Project Manager (CAPM) designation. The employee wants to join your project team. However, the loading dock supervisor has not approved this assignment. The loading dock supervisor indicated that resources on the loading dock are already constrained and has expressed a lack of support to change warehouse operations.
    Develop a negotiation strategy to obtain the loading dock supervisor’s cooperation with your project and specifically to assign the employee to the project team.
    2. As the project manager for ILS, several of your project team members do not comprehend the value of a WBS to manage the Logistics Services Improvement Project. Assess the importance of the WBS. Explain your assessment of the WBS to your project team, using an audio-narrated presentation containing three PowerPoint slides. (I will do the audio).
    3. This week, the business development manager for ILS (your project management case study) returned from a meeting with Walmart. Walmart and Proctor & Gamble successfully pioneered the use of vendor managed inventory (VMI),
    The VMI concept enables the vendor or manufacturer to use the retailer's data to decide on the timing and quantity of restocking store shelves up to a certain maximum. During the meeting, Walmart suggested that ILS might implement a VMI on their behalf. This would require ILS to develop a system and a process to obtain Walmart's data and assume responsibility for ordering product from the various vendors and shipping to Walmart, ensuring no stock-outs without exceeding the maximum. The business development manager suggests adding this requirement to the scope of the Logistics Services Improvement project.
    On the one hand, this is an opportunity for innovation that could ultimately reduce ongoing costs for Walmart and allow ILS to earn additional revenue. On the other hand, this new requirement would add risk to the project, as ILS would need to address several fundamental issues. In addition, ILS would need to develop information technology and processes that would integrate with Walmart on the outbound side and on the inbound side with Walmart’s suppliers. A rough estimate indicates an additional project investment of $75,000. Finally, ILS has not yet secured Walmart’s business, though the two companies have worked together in other countries and have a good relationship.
    Tomorrow, the director of logistics services (DLS), the business development manager, and you will discuss the proposed change to the project scope. As the project manager, prepare for the meeting by providing a bulleted list of at least three opportunities and at least three threats to new requirements being added this late in the planning stage.
    Your initial response should be a minimum of 200 words. at least 1 credible resource.
    3.2  As the project manager, design a project quality management plan that relates to the inherited issues stated in the Project Management Case Study—Logistics Improvement Project. From your studies in prior classes, also consider how this project to deliver more alignment with Walmart without exceeding the budget of $100,000 or extending the schedule could address Walmart’s needs. The project management quality plan should also enable ILS’s commitment to CSR. Your design plan should be a minimum of 200 words.
    \
    PROJECTMANAGEMENTCASESTUDYWeek1.docx](https://www.sweetstudy.com/files/projectmanagementcasestudyweek1-docx-10454117 "PROJECTMANAGEMENTCASESTUDYWeek1.docx")