Background of the Research
The successful companies of the world have recognized the importance of quality improvement of their products and services for competitive advantage. They have also improved their financial performance by reducing their manufacturing and delivery costs as they have limited their manufacturing and supplying processes according to the market needs (Meredith & Mantel, 2011). In this way, companies have also reduced their production cost and they have reduced the selling prices of their products or services for the customers. The customer’s perception of improved quality is enhanced when the selling prices of products or services are reduced and the conformance level of the company is improved. Nowadays, customers are more conscious of the quality of the products and services and they consider quality in terms of value. When companies provide better quality products at lower prices, customers perceive it as superior quality.
Most of the companies are failed to link their profits with the performance of quality and they only use non-financial measures for quality improvements. The companies must need to use financial measures for assessing the performance of the quality improvements (Charnes, 2012). Moreover, companies need to integrate their quality improvement efforts with the strategic goals and objectives of the organization. In order to achieve quality improvement, companies are using different tools and techniques for strategic quality management. Oracle Crystal Ball is one of the most widely tools for risk and uncertainties analysis in different organizations; the research explains the importance of Crystal ball for managers in strategic quality management (Oracle Corporation, 2012).
Purpose of the Study
Oracle Crystal Ball is a software application that enables the managers to use different tools for forecasting, simulation and optimization of risks in the strategic planning of the organization. The Crystal Ball helps the managers to identify critical factors affecting the quality management within the organizations (Kim et al., 2012). The purpose of the study will be to understand the importance of quality strategic management for the organizations and the issues related to strategic quality management. Moreover, it explains the benefits of Crystal Ball tools for managers in order to achieve desired outcomes of the organization.
Aims and Objectives
The main aim of the research will be to analyse the importance of Crystal Ball for managers in strategic quality management; however, following objectives will help the researcher to achieve the desired aim of the research:
Research Questions
The research question is as follows:
“How can Crystal ball help managers in the strategic quality management and for improving company’s performance?”
Literature Review
Quality and Strategy
Companies need to align their business strategy with the quality standards in order to meet the customer’s expectations and requirements. The cost structure of the organization is highly impacted by the poor quality of the products and services offered to the customers. The companies can increase their sales and market share by providing high quality products to their customers in lower prices resulting in increased competition in the market (Dennis Beecroft, 1999).
Managers need to develop effective strategies for the quality management and quality improvement in the organizations. Managers across the globe are using different tools and techniques to improve processes and procedures of quality management yet they are failed to maximize the company’s profits (Somero, 2011). However, the strategic planning for quality management provides deep insight of the risks and factors which may impact the quality management in manufacturing processes. The strategic planning of the quality management involves the following steps:
The strategic quality management enables the managers to focus more on processes rather than results which ultimately produce better results for the process. Managers must integrate the business strategy with the quality planning and ensures that the employees have fulfilled their responsibilities in accordance with the set quality standards (Oakland 2014). In this way, managers can improve the quality performance and reduce the risks and uncertainties involved with the strategic quality management.
Benefits of Crystal Ball for Strategic Quality Management
Oracle Crystal Ball is widely used spreadsheet based software that is use for reporting, modelling, forecasting, simulation and optimization of risk in different business operations such as manufacturing, quality management, supply chain management, performance management and many others (Oracle Corporation, 2012).. With the help of Crystal Ball, companies are able to minimize their risks and to achieve strategic goals of the organization and to create competitive edge.
The utilization of Crystal Ball is increasing in different business applications and strategic quality management is one of them. The spreadsheet software enables the managers to take most effective decisions for quality improvement and to identify the factors which are impacting the quality of products and services from time to time. Moreover, the Oracle Crystal Ball can reap following benefits for the large as well as small organizations.
Revenue Maximization
Generate results more Quickly
Collaboration
Communication
Optimization
Cost Reduction
Productivity Improvement
Quality Enhancement
The companies can easily solve their problems related to strategic quality planning and management by using Oracle Crystal Ball in business processes. It also helps to identify valuable resources for the project that also involves fewer risks and uncertainties ((Oracle Corporation, 2008). Therefore, it is essential for the managers to use spreadsheet technology in the form of Crystal Ball software to improve quality performance.
Methodology
The research will use qualitative research method for examining the effectiveness of crystal ball in the strategic quality management for managers in their business activities. The research will utilize both primary and secondary sources of data collection; secondary sources will include data extracted from past papers, journals and articles where as the primary data will be collected through interviews of the managers and employees of the companies which are using Crystal ball tools in quality and strategic management (Saunders et al., 2011).
Expected Results
After conducting thorough research of the proposed topic, the expected results of the study believed to reveal that the mangers need to understand the importance of strategic quality management for the company’s performance. They should utilize tools and techniques of strategic quality management for assessing the quality of their products and services (Dennis Beecroft, 1999). Managers need to utilize Oracle Crystal Ball to forecast, simulate and optimize their business activities within the organization.
Possible Limitations
The researcher may face following limitations while conducting research:
He may not able to access the most recent and relevant research material in the form of secondary sources.
The managers and employees may not provide accurate information related to the utilization of Crystal ball and its tools within organizations.
Moreover, there is a possibility of time constraints and limited resources for the research.
References
Charnes, J. (2012). Financial modeling with crystal ball and excel. John Wiley & Sons.
Dennis Beecroft, G. (1999). The role of quality in strategic management.Management Decision, 37(6), 499-503
Goetsch, D. L., & Davis, S. B. (2014). Quality management for organizational excellence. pearson.
Kim, D. Y., Kumar, V., & Kumar, U. (2012). Relationship between quality management practices and innovation. Journal of Operations Management,30(4), 295-315.
Meredith, J. R., & Mantel Jr, S. J. (2011). Project management: a managerial approach. John Wiley & Sons.
Oakland, J. S. (2014). Total quality management and operational excellence: text with cases. Routledge.
Oracle Corporation (2008). Information Decides: Dramatically Improve the Quality of Your Strategic Business Decisions. Oracle Crystal Ball. Retrieved January 18, 2016, from http://www.oracle.com/us/products/middleware/bus-int/crystalball/cb-brochure-404904.pdf
Oracle Corporation (2012). Oracle Crystal Ball Enterprise Performance Management. Oracle Data Sheet. Retrieved January 18, 2016, from http://www.oracle.com/us/products/middleware/bus-int/crystalball/oracle-crystal-ball-epm-1562770.pdf
Saunders, M. N., Saunders, M., Lewis, P., & Thornhill, A. (2011). Research methods for business students, 5/e. Pearson Education.
Somero, G. N. (2011). Comparative physiology: a “crystal ball” for predicting consequences of global change. American Journal of Physiology-Regulatory, Integrative and Comparative Physiology, 301(1), R1-R14.
