3-1 Final Project Milestone1: Operations Management Assignment
Operations Management
3-1 Final Project Milestone1: Operations Management Assignment
Operations Management
Significant Forces that Have Shaped Operations Management in Recent History
Operations management is a central area of the management process that has experienced significant changes in recent history. Operations management involves designing and controlling production processes and redesigning the business operations to turn inputs into outputs efficiently (Reid & Sanders, 2017). In recent years, operational management has been a significant force in streamlining the effectiveness of business operations. All organizations in recent history had leaders, and employees primarily relied on them to know what they should do. These leaders, among other managerial teams, used the available organizational resources, including labor and materials, to create quality products to increase the company's profitability. Little research was known, and there was also limited information about technological advancement at the beginning of civilization that would help leaders know that creating an efficient workforce in their organizations would result in good outcomes and satisfactory results. Fundamental forces that have impacted and changed operations management in recent history include technology and regulatory oversight.
Huge technological advancements have taken place in the recent past and have significantly shaped the usual performance and processes in operations management. These technological advancements have shaped the performance and operations of industries in various ways. According to Juneja (2020), the scope of technology and operations management has undergone a series of evolutions over time, moving from product development to designing, managing, and improving operating systems and processes. The use of technology in operations management has helped to ensure that operating costs are reduced and that the delivery process in organizations is improved. Technological advancement has also standardized and improved the quality and focus on customizing products and services, creating customer value.
Government regulations are also significant forces that continue to impact operations management substantially. Throughout history, there have been different government regulations and policies that affect how organizations manage their operations. In the U.S., regulations have changed from time to time, with the current policies requiring firms and businesses to abide by local and state government regulations. Government regulations have recently shaped operations management by positively and negatively impacting business opportunities. Such regulations include occupational health and safety measures that require employers to ensure the safety of employees by providing them with safety training. While workplace safety was initially not addressed with a lot of seriousness and concern, regulations have changed with time, requiring the enforcement of measures that promote employee safety. Fair work and anti-discriminatory laws have also shaped operations management by requiring managers to treat employees equally.
The company, in this case, high school institutions, is non-existent. The technological force will impact high schools in various ways, such as increasing student motivation and enhancing their collaboration and engagement in the learning process. The development and implementation of a financial literacy program in high schools will be heavily impacted by technology. Technology has made almost everything easy, and so will it in high school institutions. One of the most recognizable benefits of technology in student learning is that it has made it easy for students to access adequate and reliable information for use in the learning process (Ghavifekr & Rosdy, 2015). Developing and implementing a financial literacy program in high schools will be a great way to provide students with the relevant information about the necessary tools and resources required to build a financially fit future. This program will equip students with reliable information to help them have a voice in money matters. Through technology, the process of gathering financial data will be widely available. Generally, technology will play a significant role in increasing the availability of financial data. Through technology, the teaching and student learning process will also improve as new learning methods, such as the integration of visuals, will enhance student understanding.
Government regulations will impact business operations in developing and implementing a financial literacy program similarly by allowing workplace safety. Rules and policies guiding high schools in the U.S. are decided at the state and local levels. Worker safety is highly considered when developing and implementing the financial literacy program. In addition, government regulations will impact these operations by allowing for equal opportunity for all students to access education and other learning programs. These regulations will also affect the program by providing guidelines about work-based discrimination and students with disability.
Critique of Key Obstacles and Issues
The evolution of operations management into the modern era has been impacted by various obstacles, affecting how company management teams conduct operations and business processes. The primary obstacles that confronted company management include poor alignment of leaders' actions and behavior, and communication. In the evolution of operation management, many leaders and managers tended to behave as they wished. For instance, these leaders did not perform their roles consistently, revealing behaviors contrary to the company's mission, vision, and values appropriately to employees. Operational managers behaved in a unique way that seemed to separate them from other employees or made employees look much inferior in the organization. As operations management changed, these leaders failed to go with this change, thus being unable to recognize change positively and impose measures that would allow for the adaptability of this change. The leaders' poorly aligned actions and behaviors imply an equal impact was passed to other employees. As a result, severe problems and challenges were experienced in the organization's normal functioning, as there were no clear guidelines or policies with which employees and other staff should work.
If the institution existed by then, there are various ways in which it would have responded to the issue. One of the most effective ways would have been to involve executive consultants in the management process. These qualified professionals help organizations grow and thrive by giving advice and guidance to the management team. Executive consultants would have been engaged in the operations management process to ensure that all organizational leaders realize their positions, roles, and impact on the organization's overall performance. These professionals would have helped all leaders to align their actions and behaviors to the organization's mission, vision, and values. This approach would have ensured that leaders' decisions and conduct in the organization are dedicated to providing employee productivity and overall success.
Communication is another critical obstacle. In most cases, successful companies are often driven by managers with practical communication skills. The ability of most CEOs and overall company management to maintain effective communication with their followers and other staff members in the organization is what distinguishes between a successful and an unsuccessful company. Ineffective communication by company management has resulted in various problems in organizations. Lacking effective communication with staff members and failing to listen to employees is an issue that has resulted in many mistakes being repeated repeatedly in organizations? It is essential that operations managers adopt effective communication strategies to pass information and communicate with internal employees and adopt such strategies for external communication. External stakeholders in any company will want the company's expectations. These stakeholders have an increased need and desire to know how employees are being managed. Effective management of employees will contribute to the production of high-level results in the company. There is also a need for the same operational managers to understand the behavior and trends of employee performance. This will enable them to know when to push employees to perform better and understand situations in which employees should be rewarded or motivated.
The communication obstacle is applicable in high schools. Communication is significant in student learning among the teaching staff and students. Teachers need to ensure that there is effective communication among themselves and the school's management, and also with students. Ineffective communication in high schools might result in the wrong information being passed from teachers to students or incorrectly receiving the given information. Ineffective communication might thus lead to poor performance by students and a waste of time as teachers and students correct the occurring mistakes (Jayaram et al., 2012). Various ways would have responded to the communication issue in the institution. For instance, holding professional culture surveys, holding interactive meetings, and working collaboratively are significant ways in which issues in staff communication would be improved. These activities allow for interaction among the staff, hence better learning outcomes. Teachers would also play a part in enhancing student communication by ensuring they use interactive teaching methods. For instance, this can be through group discussions or using interactive software. Engaging students in the learning process and allowing for interactions among them will be a significant way to improve communication.
Changes to Operations Management Philosophies
Various changes to operations management philosophies have occurred with the evolving complexity of student learning. One of the significant changes is the development of eLearning, which is central to most academic programs. Recently, student learning has been primarily based on face-to-face classroom learning. However, this is now something of the past since eLearning methods have been developed with the advancement of technology (Sit et al., 2005). ELearning is currently no longer about searching and answering questions on the internet. New learning methods have been developed that allow for remote teaching and learning. These methods include web, virtual classrooms, video modules, micro-learning, and mobile learning. ELearning methods all involve delivering and accessing learning materials via the internet. Unlike traditional classroom learning methods, teachers can now use the virtual learning environment to present learning materials and engage with students on the internet. The web learning method, for instance, allows teachers to upload content materials on the internet where students can easily access them. Students also interact with their peers in the virtual space through discussions where they can share different ideas regarding what is being taught. These eLearning methods are highly effective compared to classroom learning as they allow students to learn differently.
Student connectivity with teachers is another change that has taken place in high schools. Teachers are expected to pass knowledge to students and collaborate endlessly with other teachers to improve teaching and student learning. In the recent past, the rate of interaction between teachers and students was so limited (Needham et al., 2004). Most teachers ensure they only deliver the learning content to students in the classroom. There were also few ways of passing knowledge from teachers to students, limiting connectivity. However, with the continued evolution in operations management, teachers and students have become more connected than ever before. The student learning process has integrated various tools that allow for increased connectivity as teachers engage more with students. In addition, teachers' mentality toward students has changed over time; hence most students become freer with their teachers. Besides the learning content, students can also get in touch with teachers to consult on a wide range of areas, including how they can improve their academic performance and cope with emerging psychological issues and other issues that might concern their personal development. While the connectivity rate has dramatically changed over time, students have maintained good relationships with their teachers, improving their academic performance.
School Operations
Many activities and operations go on in high schools. Organizational processes in schools involve how resources of time, space, and personnel are arranged in schools. Business operations in schools mainly entail essential measures that have almost complete control in the education setting. Public school students cannot control who they are, where they come from, or why they think they go to school. School operations primarily describe the actions taken by school administrators and teachers to achieve the school's set objectives and overall purpose. In the school setting, teachers have a crucial role in ensuring that knowledge is adequately passed to students. This is one of the primary operations in high schools. Many schools are committed to ensuring that students acquire quality education, which teachers instill in them (Ige, 2013). Therefore, teachers play a significant role in this process as they directly transfer knowledge to students.
Other than the learning process, there are also various domains in schools that are facilitated by school operations teams to ensure that each school day runs smoothly as required. These teams are responsible for providing school operations ranging from non-instructional tasks to student transitions, recruitment, and facilities management are carried out and processed appropriately. The school operations also include financial processes. These are vital processes in every high school institution (Usman, 2016). Such financial transactions must be adequately monitored to ensure other functions in the school run efficiently and most appropriately. Financial processes ensure up-to-date and well-recorded inflow and outflow of money in the institution, hence continuity in the overall school operations and processes.
The school operations support the institution's strategic plan, mission, and vision. The strategic plan of many high schools is primarily aimed at instilling positive connections with students and improving their overall educational performance. School operations align highly with the institution's strategic plan, mission, and vision. These operations primarily seek to improve organizational performance by ensuring that all critical functions are implemented. While high schools aim to equip students with adequate knowledge, school operations are directed towards ensuring that all processes in the school run efficiently to ease the learning process and delivery of knowledge to students.
High school productivity and profitability are determined by students' performance (Hoxby, 2003). Various factors affect productivity and profitability. One of the critical factors is school facilities. Unsurprisingly, schools with well-equipped tools, facilities, and resources for learning will likely tend to record higher academic performance levels than schools with inadequate facilities. This results from different factors, among them being that such schools will be more likely to attract highly qualified teachers. These teachers often have an abundance of resources and are better equipped to allow for the implementation of different learning techniques and strategies that support student learning. In addition, students with easy access to facilities such as libraries, laboratories, and functional computers are more likely to engage in the learning process hence showing better performance.
Assessments also significantly contribute to school productivity and profitability. Both teachers and students have goals that relate to education. Assessments can play a significant role in identifying whether teachers and students are still on the right track toward meeting organizational goals. Teachers can use assessments to determine the extent to which students retain course material for their overall performance.
Key Trends
Critical trends in the educational environment include integrated learning, personalized learning, and the development of professional skills (Goyal & Kumar, 2021). Integrated/blended learning is a process that involves combining modern education with traditional education. While online teaching still relies on printed books, online assessments and online teaching are integrated learning methods that have enabled teachers in rural areas to deliver learning content to many students with minimal difficulties. Through personalized training, many students can acquire financial literacy alongside continuing education. Data-driven content serves a lot of significance by fixing learning gaps. With the continuing use of technology, teachers need to develop their professional skills and allow for their accumulation in a technology-driven environment.
Other than these trends, social-emotional learning (SEL) and homeschooling are other popular trends in education. SEL is a learning process where students develop self-awareness, self-control, and interpersonal skills that enable them to become successful both in school and in their personal life (Paolini, 2020). Students who have developed socio-emotional solid skills show more ability to cope with everyday challenges, thus benefitting academically and socially. SEL also contributes to overall students, school, and teachers' happiness. Happier learners tend to be more prosperous and academically active. Homeschooling, on the other hand, implies home education. This trend has become popular in recent years as students are being educated at home rather than sent to a public school. This trend also allows parents to become teachers as they can create unique curricula suitable for their children's learning.
Impact of These Trends on School Operations
These trends have a significant impact on school operations and student learning. Most importantly, they have created more opportunities and increased sustainability in the education sector. Blended education, for instance, has created a significant opportunity for schools to experience growth. Through blended learning, students get the chance to develop an awareness of global challenges and issues, thus working out of their comfort zones to apply the learned academic theory in the real world. Teachers can also develop their professional skills through online workshops, a significant opportunity for teachers to advance in their career fields.
These trends also place the school at higher levels of competitiveness, thus overall success in the education sector. By allowing for student-centered education, the identified trends enable students to acquire quality education that gives them chances to raise their voices and choices (Jacobs & Power, 2016). This implies that students can learn at their own pace, making it easy to comprehend and exercise what has been taught in the real world. Student-centered education has consistently shown positive results as students become more productive and record better academic results. Through improved performance, schools will also become more competitive in the education sector, attracting more students and teachers.
References
Ghavifekr, S., & Rosdy, W. A. W. (2015). Teaching and Learning with Technology: Effectiveness of ICT Integration in Schools. International Journal of Research in Education and Science, 1(2), 175-191. Retrieved From https://eric.ed.gov/?id=EJ1105224
Hoxby, C. M. (2003). School Choice and School Productivity. Could School Choice be a Tide that Lifts all Boats? In The Economics of School Choice (pp. 287-342). University of Chicago Press. Retrieved From https://www.nber.org/system/files/chapters/c10091/c10091.pdf
Ige, A. M. (2013). Provision of Secondary Education in Nigeria: Challenges and way forward. Journal of African Studies and Development, 5(1), 1-9. Retrieved From https://academicjournals.org/journal/JASD/article-full-text-pdf/8AB039710752
Jacobs, G., & Power, M. A. (2016). Student-Centered LearningAn Approach to Fostering Democracy in Schools. Beyond Words, 4(2), 79-87. Retrieved From http://jurnal.wima.ac.id/index.php/BW/article/view/940
Jayaram, K., Moffit, A., & Scott, D. (2012). Breaking the Habit of Ineffective Professional Development for Teachers. McKinsey on Society, 1-12. Retrieved From https://www.mckinsey.com/~/media/mckinsey/industries/social%20sector/our%20insights/breaking%20the%20habit%20of%20ineffective%20professional%20development%20for%20teachers/breaking_the_habit_of_ineffective_professional_development_for_teachers.pdf
Juneja, P. (2020). Managing Technology in Operations Management. Management Study Guide. Retrieved From http://www.managementstudyguide.com/
Needham, B. L., Crosnoe, R., & Muller, C. (2004). Academic Failure in Secondary School: The Inter-Related Role of Health Problems and Educational Context. Social Problems, 51(4), 569-586. Retrieved From https://academic.oup.com/socpro/article-abstract/51/4/569/1734917
Paolini, A. C. (2020). Social Emotional Learning: Key to Career Readiness. Anatolian Journal of Education, 5(1), 125-134. Retrieved From https://eric.ed.gov/?id=EJ1249147
Reid, R. D., & Sanders, N. R. (2019). Operations Management: an Integrated Approach. John Wiley & Sons.
Sit, J. W., Chung, J. W., Chow, M. C., & Wong, T. K. (2005). Experiences of Online Learning: Students' Perspective. Nurse Education Today, 25(2), 140-147. Retrieved From https://www.sciencedirect.com/science/article/pii/S0260691704001492
Usman, Y. D. (2016). Educational Resources: An Integral Component for Effective School Administration in Nigeria. Online Submission, 6(13), 27-37. Retrieved from https://eric.ed.gov/?id=ED578024
5-1 Final Project Milestone Two: Operationalization Assignment
Abstract
The analysis would be focusing on a financial literacy project undertaken for improving the financial knowledge and expertise among teenagers. The analysis covers the potential costs which would be required for the project to undertake and further a projection would be included so that clarity is achieved. The analysis further includes a work break down structure for the project which would cover different tasks and sub-tasks, necessary for the project to be implemented. Further the key milestone for the project and its potential obstacles would be identified. Further the, paper includes some recommendations as to how the risks associated with the business idea can be mitigated.
Table of Contents
TOC o "1-3" h z u Introduction PAGEREF _Toc114773447 h 3Potential Costs PAGEREF _Toc114773448 h 3Work Breakdown Structure PAGEREF _Toc114773449 h 5Narrative PAGEREF _Toc114773450 h 6Key Milestones PAGEREF _Toc114773451 h 9Key Obstacles PAGEREF _Toc114773452 h 10Risk Mitigation Strategy PAGEREF _Toc114773453 h 10Conclusion PAGEREF _Toc114773454 h 11Reference PAGEREF _Toc114773455 h 12
IntroductionFinancial literacy refers to the basic knowledge which children and teens should have regarding finance so that they can take sound decisions right from a young age. For kids who have completed high school, financial literacy refers to the ability to make wise financial decisions. It is crucial for these pupils to comprehend financial markets and make judgments properly (Calcagno, Alperovych & Quas, 2020). The project which is considered would provide courses on financial aspects and also run simulations so that the kids can get an understanding as how sound finance knowledge can help them grow.
The project aims to get in touch with schools so that a finance program is introduced in the system where students can get life experience which will be knowledgably as well as interesting for the kids. The project intends to collaborate with establish businesses so that the simulation program can be successful.
Potential CostsThe idea is to develop a program wherein the students can interactively participate and learn aspects of savings, expenditure and investments. One of the main costs which would be incurred is in development of the curriculum for financial program. The business needs to integrate financial knowledge in a simple and sophisticated manner. The business would further be looking to set up its own applications where quizzes, videos can be made available to kids for their concept development (Damayanti et al., 2018). One of the main costs which can be identified is hiring of financial experts who can breakdown aspects of finance to the students.
The management of the business would enter into a memorandum of understanding with schools so that they can incorporate a financial literary program for the kids. Such an approach by the schools can nurture kids to have an investment mind and ensure that they learn savings habits right from a young age. The simulation planning also needs to be conducted in a more detailed manner and thereby this would require resources both in terms of money, physical and human resources. The management needs to take into account such costs as it would affect the overall accuracy of the project. The potential costs of the project would be important as it would help in implementation of the financial literacy program (Garg & Singh, 2018).
The project manager would be looking to implement a lean management system so that the resources are effectively utilized and operational efficiency is maintained. The lean system would help in effective implementation of the financial program and thereby can help the management to control the costs of operations of the business.
Work Breakdown Structure
Launching Application
Course Material and Conference
Simulation Training
Application structure Design
Printing of materials
Savings Training
Software Development
Inviting financial professionals
Expenditure Training
Update and Maintenance
Allocation of Resources for Conference
Investment Training
Financial Literacy Program
Launching Application
Course Material and Conference
Simulation Training
Application structure Design
Printing of materials
Savings Training
Software Development
Inviting financial professionals
Expenditure Training
Update and Maintenance
Allocation of Resources for Conference
Investment Training
Financial Literacy Program
NarrativeThe preceding work breakdown structure illustrates, in an accurate and clear manner, the many facets of the project as well as the numerous additional subtasks that need to be completed in order to keep a certain degree of efficiency. The company plans to introduce a new application that will allow children to test their knowledge of previously unknown topics, see educational movies, and participate in interactive quizzes. The primary goal of this is to get the children interested in the ideas being presented and to make the process of learning more enjoyable (Goyal & Kumar, 2021). Before the program could be made available to users, the management would have to complete a number of necessary processes.
The first step in the process of developing the application would be to design the layout of the application, which would include designing the structure of how videos, quizzes, and ideas would be presented. Because of the significant impact that the mobile app design has on the user experience that the app provides, it is of paramount importance to the app's overall success. The appearance and operation of the app have a significant bearing on the way in which a user engages with the app. As a result, it is of the utmost importance that the application be designed appropriately and that an appropriate degree of transparency be preserved in order to facilitate ease of access. The creation of software is the next step that the company has to take in order to go forward with its plans. It is important to note that because the application will be used by children, it is necessary that some easy-to-use software be produced that will be easily accessible. This is something that must be done. For this procedure, a reliable information technology environment and team are necessary in order for software to be produced in an appropriate manner.
The very last thing that the company has to do in order to make regular use of the application is to make sure that the software is always up to date and that it is maintained properly (Gunawan & Chairani, 2019). It would be necessary for the company to keep a team of information technology developers on staff in order to ensure that the application can have new features added to it and that it can receive frequent software updates. Taking this strategy would ensure that the operations could be carried out without restriction.
The financial literacy program also intends to provide lecture notes and materials which would be in the simplistic of languages and provide examples of real life finance cases and its applications. The materials needs to be printed and this would be the first step taken in this case. The project manager needs to consider the best option available for printing and ensure that materials printed are clear and not monotonous in any manner (Ariffin, Sulong, & Abdullah, 2017). The materials can be circulated in the school and it will not cover in-depth details but it will be covering concepts and reals case examples of how financial knowledge can be applied to situations.
The project manager would require expertise of finance professionals, business personnels, and bankers so that they can share their expertise with the kids as well as the teachers. This activity aims to establish conferences on a monthly basis so that the efficiency and transparency is maintained in the learning process. The project manager aims to conduct conferences on a month basis where students as well parents can learn about relevance of finance in day to day scenario. The capacity of the kids to be financially literate is also influenced by the parenting approach and level of financial participation in their families. Low-income families' limited resources prevent them from having any financial risk (Brau, Holmes & Israelsen, 2019). The lack of financial education offered to high school pupils is another factor contributing to the lack of exposure of kids to the financial world. Therefore, it can be said that the conferences can be used to educate the adults regarding how finance plays in the development of kids.
The simulation training for critical practices connected to finance is another aspect of the project, and it is the portion that is considered to be the most important part. Students will have a better understanding of the significance of financial terminology if the project management team first creates scenarios and assigns responsibilities to persons before attempting to build up such simulation training.
The first training session would be on savings, and it would cover the significance of having financial savings in one's day-to-day life. The project manager's primary focus would be to emphasize the significance of savings by providing concrete examples of how those reductions may be put to use and outlining the margins that must at all times be preserved. The second portion of the simulation training would concentrate on spending and would teach crucial ideas that are related to expenditures. The training would be divided into two parts. At the conclusion of the week, the children will be instructed on how to keep their spending under control and build up their savings. One week would be allotted for the training session in its entirety. The students would be instructed in a budgeting strategy over the course of the training, during which objectives would first be created, and then, at the conclusion of the week, the targets would be compared with actual outcomes (Razen et al., 2021). The youngsters will have a better chance of developing a viewpoint that will serve them well in the long term if they are exposed to this method.
The significance of investments and the ways in which the process might considerably multiply the children's savings would be the subject of the last instruction that they would get in the form of a simulation. In this stage of the process, the project manager will work toward teaching the children healthy banking and investing practices so that they may learn how to increase the amount of money they have saved. The children would be instructed in both the crucial phase of gathering monies and the subsequent step of allocating those dollars. Literacy program may be considered to assist students acquire a financial mindset, which will be beneficial for future academic endeavors as well as commercial decisions, and this can be seen as an overall benefit of the program
Key MilestonesThe key milestones are set in a manner so that the project manager can review the implementation of the project and whether the same is effective for the kids or not. The first milestone would be getting an approval from the school boards and entering into agreements with businesses so that ample support is available for the project and it can be made successful. The school board and even the business which is implementing the projects needs to approve before any aspect of the project can commence. Deliverables will include reports with financial, SWOT, and regulatory analyses as well as demand, cost, and price forecasts to give leadership an accurate view of the project's scope.
The second miles stone would be the development of the application which would guide the kids and make them learn finance concepts in an interesting manner. The application which will be developed would require efforts from the IT team. The project manager further needs to provide for funds and hire experts so that the application software is proper. Deliverables in this case would include, budgets, testing approvals (Afsar et al., 2018), IT Experts and equipment. The business would provide support to the development of the software as it forms an integral part of the program.
The third milestone which would be set is the competition of simulation training where each of the element would be set by consultant a team of financial experts. This approach is undertaken so that the student get proper exposure of real-life situation and how finance can be applied to such situations. The simulation training also targets the parents and therefore parenting style and persecution of the people can also be changed following such an approach.
Key Obstacles
The failure to obtain clearance from the school board to add a program in the curriculum that teaches students about financial literacy is one of the most significant challenges that may be recognized. It is possible that the board may determine that such a software is too advanced for children and would be more appropriate for use in higher education; if so, this will have a direct impact on the implementation of the project. It should be brought to people's attention that they have the idea that understanding of finances is essential at a significant level of schooling (Ali et al. 2016). Because of this, the development phase of the project would be slowed down, and application development would also come to a standstill. Another major hurdle that may be recognized is the lack of adequate funding. This is one of the key difficulties. The public's worries and views are extremely important in determining whether or not the program will become popular and successful. For this reason, it is very necessary for the manager of the project to have access to the necessary money in order to ensure that the program can be carried out in an effective manner
Risk Mitigation StrategyThe project manager needs to develop a proper plan in details which shows all the costs and revenue which can be generated from the project. The project also needs to show the social benefits from the project in order to get approval for the same. The opportunities and benefits of the program needs to be highlighted and if possible case examples can also be presented.
One of the other obstacles which was identified was availability of funds and for such a purpose, the management needs to ensure that the business has ample funds in the reserves so that a liquidity issue does not arise. An alternative option which the business has is to take loans from bank in order to finance their operations.
ConclusionThe above analysis appropriately shows the approach which the project manager will take for implementing the financial literacy program. The analysis would further be showing the steps which is taken by the management for implement the program. The discussion above shows work break down structure and three different tasks and sub tasks which the business would be undertaking so that efficiency can be achieved in the business operations. The analysis further highlights the key obstacles and mitigation strategies which needs to be undertaken by the management. Further the analysis shows the approach which the project manager would undertake so that successful implementation of the program can be done.
ReferenceAfsar, J., Chaudhary, G. M., Iqbal, Z., & Aamir, M. (2018). Impact of Financial Literacy and Parental Socialization on the Saving Behavior of University Level Students.Journal of Accounting and Finance in Emerging Economies,4(2), 133-140.
Ali, P., Anderson, M., McRae, C., & Ramsey, I. (2016). The financial literacy of young people: Socioeconomic status, language background, and the rural-urban chasm.Australian and International Journal of Rural Education, 54-66.
Ariffin, M. R., Sulong, Z., & Abdullah, A. (2017). Students perception towards financial literacy and saving behavior.World Applied Sciences Journal,35(10), 2194-2201.
Brau, J. C., Holmes, A. L., & Israelsen, C. L. (2019). Financial Literacy among College Students.Journal of Financial Education,45(2), 179-205.
Calcagno, R., Alperovych, Y., & Quas, A. (2020). Financial literacy and entrepreneurship. New Frontiers in Entrepreneurial Finance Research, 271-297.
Damayanti, R., Al-shami, S. S. A., Rahim, B., Rahim, A. B., Marwati, F. S., & Malaysia, M. (2018). Factors that influence financial literacy on small medium enterprises: A literature review. Opcin, 34(86), 1540-1557.
Garg, N., & Singh, S. (2018). Financial literacy among youth. International journaL of sociaL economics.
Goyal, K., & Kumar, S. (2021). Financial literacy: A systematic review and bibliometric analysis. International Journal of Consumer Studies, 45(1), 80-105.
Gunawan, A., & Chairani, C. (2019). Effect of financial literacy and lifestyle of finance student behavior. International Journal of Business Economics (IJBE), 1(1), 76-86.
Razen, M., Huber, J., Hueber, L., Kirchler, M., & Stefan, M. (2021). Financial literacy, economic preferences, and adolescents field behavior.Finance Research Letters,40, 101728.
