Business Management Assignment: Case Analysis Of Genpact
In the business management assignment, it is required to go out into the real world and analyse an organization of your choice and evaluate how they are:
1. Making the connection between business strategies and IT projects
2. Doing evaluation, selection and alignment of projects in their portfolios. How that company reached to the goal and how they select project
3. Monitoring and actively manages the portfolio of projects
4. Working with benefit realization
5. Keywords and areas may be included:
Benefit realization management - Values & benefits, Strategy & benefits, BRM Core Principles, BRM Enablers, Value drivers, BRM framework, Benefit profile, Benefit register, Measuring benefits, Benefit traceability.
Project Portfolio Management (PPM) – PPM Process, Stakeholders Roles and responsibilities, Portfolio lifecycle, Selection and prioritization, Balancing, Project Plan, PPM Basic Components. Capacity and Capability management - Supply and demand analysis, Project life cycle.
Risk analysis - Risk analysis, Risk Perception, Risk framework
Develop business cases and realization plan
(c)Measurements and when they will occur
(d)Documentation in benefits register and realization roadmap
(e)Stakeholder sign off
(f) Acceptance criteria
(g)How was project selection done?
(h)Benefit owners consulted and confirmed?
6. Corelate the real world, their work strategies for above points 1-4 with the ‘Theoretical concepts’. Map each other where are these same and differ.
Introductionto the context of business management assignment
Genpact background depicts a legacy of unique business activities in association with IT sector operations.
Established back in 1997, Genpact initially started off with 20 employees who possess a pioneering vision towards former President PramodBhasin. It is the valuable contribution of this CEO that Genpact experienced drastic transformation through pilot project. The company earned tremendous goodwill for achieving outstanding efficiency across operative dimensions in building infrastructural growth within short span (Muazu&Nashehu, 2021). Spreading widely across multiple cities has strengthened the process employment to be ascertained as workforce purely on the basis of merit, talent, training and experience. Financial services are given optimized prominence where global manufacturing business adopts agile theory under Six Sigma and Lean management strategies for stronger appeal. As a global professional, Genpact provides services through digitally led innovations, an intelligent operative approach helps clients to keep track of Genpact’s achievements through Global Fortune 500 companies list. Customer experience enhancement is focused to strengthen customer retention theoretical strategy under growth ecosystem partnership.
Connection between business strategies and IT projects
Genpact gets counted among the top 10 IT industry associated companies where performance management determines upon strategic business partnerships. For an organization like Genpact to escalate their success among competitors with an edge, these strategic engagements are chosen for enabling accuracy and faster pace in decision-making. Hot competitive space is established when the organization decided to build collaborative strategic approaches by 25% involvement (Shea et al. 2021). The core purpose behind strategic adequacy is financial consistency and effective performance management. Genpact aims to adopt agile project strategy so that close link is created between the IT project operations and business strategies to yield effective financial returns. It is not the drastic transformation but the changing dimensions in which company adapts to. With access to advanced technologies, the strategy of taking bigger challenges is possible through Enterprise Performance Management EPM processes. However, the major drawback that Genpact experiences while embracing IT projects using business strategic amalgamation is due to lack of standardization. It is yet to realize by many of the tough competitor IT companies about the relation between operational excellence and the EPM effectiveness. For the world-class customer experience to be established within the company, Genpact makes effective use through best benefits of EPM.
Differences and gaps between their work strategies
The application of Agile Theoretical framework stands ineffective when the strategies of Enterprise Performance Management EPM try to implement data from different sources. The gap becomes vivid where there are significant instances of data disparity (Momot et al. 2021). Due to multiple sources of data retrieval used, the planning cycles are increased. When the historical report is analyzed, the cyclic planning fails when the anticipation of future trends gets created through multiple scenarios. It is under the value added insights that leaders at Genpact try to obtain in which the frustrating conditions become vivid for the senior executive. With the designs of EPM across the strategic decision, the center of excellence (COE) is created through delivery services. Growth derivation is the primary strategic update which creates differences and gaps across working strategies. The knowledge absorbed in terms of Agile Theory creates differences and gaps due to incapacity of Genpact in designing the CoE delivery system. It is the forward looking plans conducted by Genpact which led the IT industry company to find opportunity in enterprise performance management through robust technological advancements.
How the company works with benefit realization.
Genpact has acquired a prominent position across the IT sector by absorbing Enterprise Performance Management EPM strategic approaches. The journey of this company progressed by relying upon the analytical toolscombine the knowledge derived from EPM. This brings expertise within the organization with grounded procedures (Benitez, Llorens&Braojos, 2018). The ultimate benefit is created for the company when combination is established with digital technologies. This not just enables insightful knowledge depth creation towards the company performance progress but also facilitates in appropriate analytical tool application. Genpact’s Cora aspect brings a new avenue of profitable benefit through digital acceleration. Use of Artificial Intelligence (AI) enables the organization to transform their performance outlook. It is not merely facilitate the company is establishing automated procedures through latest IT solutions but also led through improved forms of agility. The delivery of reports within stipulated time makes smooth acceleration of Genpact successful outcomes. Another aspect of Genpact’s asset is when it receives consultation-based approach to be incorporated within performance service efficiency (Kiran & Sandhya, 2018). With the world-class delivery of EPM framework, the delivery of governance is made to implement effectually.
How does it connect with theory we have talked about?
Agile Theoretical approach
This theoretical framework helps Genpact to practically embed the transformations with positive comprehensive programs. EPM procedures got actualized with the association of agile theoretical model. This offered and shaped the company to be oriented in a flexible manner where modular projects start effectively (Cozmiuc, 2020). After Genpact decided to include the theoretical positivity in the form agile strategy, the delivery of services could aim for next generation EPM operations. It becomes possible for deriving practical outcomes like financial close and reporting effectiveness. With disclosure management, Genpact could gain the benefits of financial consolidation. Use of filing, reporting and management enable the services to adhere to clear records by which organizational performances can be tallied. The prioritization of organization’s areas and service domains become significant aspects to bring into focus.
Customer retention theory
Genpact has experienced facilitating outcomes when customer retention theory became the focus of their service enhancement. It is to actualize this theoretical approach that made Genpact optimize on Intelligent Reporting Assistant approach. With the use of Artificial Intelligence (AI), solution through financial reporting would be obtained to radically transform the company operative pattern (Vij, 2019). It is the structured as well as unstructured acquisition of data that both use of external and internal sources are determined. Being a noteworthy name within the IT industry, Genpact derived real time predictability solely by implementing the Artificial Intelligence. The entire course of business performance got transformed when automated creation is established.
The project that Genpact pays central attention to is the achievement of service benefit out of Enterprise Performance Management (EPM). Proving to be of the best in IT sector association, the use of EPM analytical services are maintained (Holder et al. 2019). Taking the financial statement into account, Genpact is likely to create performance variance through revenue so that strong impact is manifested across customer retention. With strategic management into play, the scorecard is maintained with effective tracking. This allows the corporate initiatives to be analyzed effectually. It is this performance analysis on the basis of which Genpact is capable of deriving IT specific tool and strategic initiatives.
EPM allows Genpact to experience the enterprise performance optimization by which SaaS solutions can contribute towards procedural benefits. With the help of real time approach, valuable insights are possible to be determined when business performances carry out through engineering data (Sitienei, 2020). It is the advanced visualization and analytics through which the performance analytical services are accelerated. Keeping the strategic approach into optimized effect, the working capital optimization is implemented. Genpact is capable of operating with artificial intelligence (AI) under which services at each level are better scrutinized, assessed and brought towards solution. With the help of predictive analytics the opportunities for Genpact are built up so that liquidity is boosted. It is under the delivery of technologies that consistency and accuracy is reached with noticeable optimization (Matovi, 2019). It is through the working capital optimization that technological deliveries are maintained effectually. Under the inventory level services of Genpact, accounts are possible to be easily receivable when the working capital is adequately optimized. With the help of peer group automation, the bench marking is possible to evaluate Genpact’s position across the competitive market among other rival IT companies. With the help of service forecasting and financial planning, the business plans are accelerated. It is under the risks uncovered for Genpact that dependence upon predictive analytics is mostly concentrated upon (Fogarty, 2019). With the help of opportunity seeking process, the revenue forecasting and rolling forecasting is maintained. With the long range of strategic plans laid down, the budget of delivery is possible through workforce planning and scenario based designs made. The use of activities like acquisition and merger make the financial plan in an effective manner. Out of the proprietary financial plans, the digital technology advantages are maintained at supreme level so that agile theoretical strategies assist Genpact is forecasting processes.
How does the company work with these concepts?
Genpact has the core concentration upon the working service area of Enterprise Performance Management EPM. For experiencing increased market growth, the opportunities are tried to be enhanced with a cloud-based solution. It is under value driven orientation for which the agile nature becomes dominant force (Mirror, 2019). The efficiency needs to be higher when Genpact looks for Enterprise Performance Management EPM as the prime focus of technological services. With the adoption of technological aspects, the teams move towards on-premise efficiency through cloud manifestation (Matovi, 2019). Under the application of EPM technologies, the suite is recommended to build strategic alliance with leading tech players in the competitive market. With the help of procedural approach of designing, selection, build up and roll out of EPM solution, Genpact is possible to derive optimum benefit in data handling areas. Processes are use greatly rest upon SAP, Oracle, OneStream Solution, Anaplan, Host Analysis are the major operative domains across Genpact centrally functions across.
EPM as data solution - Taking the organizational heartbeat into consideration as its data and configuration information, Genpact is able to review the insights effectually. It is under the process of strategic correlation whereby the significant achievements of organization are placed with relevant level of competitive advantage. Sufficient opportunity for the accessibility of sound data gets secured under which the business is possible to unlock itself (Myerson, 2018). This facilitates through architectures, strategies and appropriate governance. Genpact gains through absorption of data solution of EPM when effectiveness in multiple areas like, configuration, designing implementation and management are performed. This is created through the data ecosystem whereby the theoretical strategy frame of agility receives maximum effectiveness in decision making. For the company to get certain level of stability and speed, the decision making needs to adopt intelligence within data ecosystem.
Connection to theory Monitoring/Control of portfolios
Genpact uses the EPM operational system to the best of benefits as it acts to operate with controlling and monitoring device for performance indication. For the organization to experience a sense of business partnership, there is need for fast action plan under which the insights would be best stabilized with valuable insights (Nicoletti, 2018). It is the design and delivery of services using operating model which helps Genpact to identify the gaps, monitor the performance elements and deliver effective services. Keep growth under prime focus of performance efficiency is helped through EPM framework to make Genpact reach optimum success.
Genpact is able to revitalize their company appeal when EPM operational strategies are actualized:
With the help of monitoring effect, Genpact is facilitated with time reduction of 50%data collection process through specialized free EPM technique
Strategic decision creates insight by which monitoring Genpact’s performance becomes easier through greater transparency actualized by 40-50% (Fogarty, 2019)
90 to 100% standardization is obtained when EPM is used towards management reports More than 50-70% of EPM productivity gets enhanced
Less than 0.5% of the forecasts are error prone
Forecast generation is reduced by 90% (Cozmiuc, 2020)
Genpact is a significant name identified with IT industry that is analyzed on the basis of strategies adopted and theories referred to. Taking the EPM program under consideration, the process of excellence is established when technological advantages are enabled. It is through the application of agile theoretical model Genpact is found to acquire better flexibility and absorption towards end-to-end capability. Under the service delivery approach, EPM has leveraged AI cloud based operation for Genpact. It allows the enterprise functions to be carried out with increased value, greater complexity and standardized monitoring ability to increase performance efficiency.
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