Shared Practice: Velocity, Part 1 - Assignment Example

SHARED PRACTICE: VELO PART SHARED PRACTICE: VELO PART Outcome Selected Compare and contrast majorapproaches or paradigms to managing and improving organizational performance.Passages from Part 1 of Velocity and their justification for effective business managementJacob, Bergland & Cox (2010, vii) stated that, “And VELOCITY – as a concept – is the means by which the organization orchestrates all of its resources, as well as all three improvement disciplines, and achieves both speed and direction towards strategic goals.

” This passage was selected and considered necessary to effective business management due to the premise it gives to the components needed to achieve performance within the workplace. Through this passage, it is highlighted that even though each form of continuous process improvement (CPI) method may have their own advantages and merits, they function best when they are utilized together in a way that forms a velocity. It is against this backdrop that the writers did not single out any one of the methods but combined all three of lean, six sigma, and the theory of constraint (TOC).

For a typical modern day business to think of effective business management therefore, the focus that business must be on best ways by which there can be variation with the application of strategies and approaches to managing organizational performance (Senge, 2006). Jacob, Bergland & Cox (2010, 6) further opine that “Winner’s corporate numbers – revenue growth, increasing earnings per share, and so on – and they seem impressive. Bur drill down and it soon becomes obvious that Winner is mostly growing only by way of acquisition.

” This passage is selected as it directly addresses one of the most important paradigms of business growth and expansion, which is acquisition. There continues to be real life experiences and stories about how various multinational corporations have focused on the use of acquisitions to expand and grow over very short time frames. What is essence to note from the passage however is that, each move that a company makes about acquisition must be specifically focused on a business management related goal (Senge, 2006).

At Winner, the emphasis of business management was revenue growth, increase in earnings per share and others. The lesson here is that every attempt for growth and expansion must be very focused and backed by a plan, which tells the company the level it wants to reach. Without this, the steps of Winner may be followed in acquisition but growth cannot be guaranteed.Then again, the writers allude that, “A turn around implies that there has been a turn in performance. Yet there has been no turn in all these months.

We are still headed downwards and the pace is accelerating” (Jacob, Bergland & Cox (2010, 114). The essence of this passage is to create awareness for the business manager on the trend and direction of performance to expect when undertaking business management. This is because there can be moments that organizations may be seen to be working very hard but due to the wrong application of basic corporate principles, they will not be making any positive turns that bring about growth (Thompson & Romito, 2008).

One typical way that organizations may be seen from outside to be working very actively but achieving no growth is when there is so much waste within the organization. In the presence of waste, all gains are nullified. It is for this reason that Jacob, Bergland & Cox (2010) do not focus on only one means of avoiding waste but on as many as three ways.ReferencesSenge, P. M. (2006). The fifth discipline: The art & practice of the learning organization. New York, NY: Doubleday.Thompson, K. S., & Romito, J. (2008). Lean Six Sigma.

Armed Forces Comptroller, 53(3), 16–19.Jacob, D., Bergland, S., & Cox, J. (2010). Velocity: Combining Lean, Six Sigma, and the theory of constraints to achieve breakthrough performance. New York, NY: Free Press.