Om Strategy Analysis
With the recession periods coming of the global economy, it even increases the competition pressure for sponsorship money with more and more competitiveness. So it becomes more and more significant for every corporate to takes some effective measures in the operational management for a better operational performance. In this thesis, the author analyzes the case of Jordan Grand Prix in the aspect of planning and Control, Quality Management, Project Management and operational improvement.
Specifically, it points out the measures and strategies Jordan takes in the process of advantage pursuit in competitiveness. For the success of Jordan Grand Prix, who want to test their capacity and future ability for new challenges, its main operational skills and change can be summarized as the formula one brand, three unique objectives, team work and more than five deep dives for a better management. Planning and Control The Planning and Control in OM of Jordan Grand Prix can be analyzed from Sequencing, Scheduling, Inventory and Queuing.
In sequencing, since the aim of Jordan Grand Prix is to keep and pursue the competitive advantage, so the relevant lap factors should be optimized and controlled, like reducing and minimizing lap times in qualifying and racing, streamlining its key processes. While it is a consulting company but not a designing or building firm, several management measures are taken. The new design works are finished as quickly as possible firstly. Then the examining designs and discussed management processes are also done quickly. Thirdly, every part and skill on the ? or can effect change once change happens, which is improved. Moreover, as it increases the speed, it also has a right direction to go. Before it proposes a plan for working together with other team, it should know exactly where the machine is going, and how it could be made to run more smoothly. In scheduling, an interconnected network of people is allocated works. people like car design,manufacture, test engineers, sales businessmen, and even the investors and the sponsors form a vast web, and they work together with the same objectives in different parts.
In Formula One, money is thought of time from the aspect of the queuing. Jordan Grand Prix demands the focus in driver and engineer, which could have some effect on faster lap times and the first sight of the finishing line.. In the second deep dive, it is the parts and supplies team in inventory. The supplier for outside materials seem be not influenced by the team, which is hardly controlled. In Deep Dive 4, there is an understanding for Jordan Grand Prix in detail and ground-up, including in the aspect of operations and resources. These operational strategies are expressed as the Jordan business strategy.
Here, Jordan fistly finds ways to get higher efficiencies and profit. It concentrates as the financial generation, which is the best ways to for keeping valuable personnel. Secondly, Jordan integrates the knowledge gathered at the beginning of the Deep Dive. These strategies are found out according to the Jordan Grand Prix’s overall strategy, which is the winner’s circle of the World Championship, a success in finance and being a family for workers. Quality Management In Formula One, every constructor and driver can understand their own performance exactly.
Since the decisions of the business and companies execution can be judged according to that leader board, there is no permission for wrongdoing. On the other hand, Jordan is a quick developing firm with small scale, so it demands visible results in the competitive racing at once; so the more fast of each stage work is finished, the better the car is for the race. In the first deep dive, better communication can bring the pattern makers lots of information and organize better suppliers to stop the selection process, which can get a more, better and quick work.
Finally, achievable goals were analyzed and established for the practical result. A system is designed to set up a better idea exchange and provide a path for the necessary information which is good for the decisions based on the fact. Decisions are made, implemented and reviewed more quickly in the situation of the right data at right time. It increases the form and structure at the same time the fair and fiexibility are not taken away. Senior staffs are also given the fresh ways for getting the information performance at different stage.
The challenge of the first deep dive is to retain the style of the best parts and get rid of the key trouble at the same time, and build up a clear road for managers to express their idea freely and in the organization. The goal focuses on every worker in Jordan, so that a sense of unity and pride in its successful results forms. Since Jordan does not like the immediate solutions, so every engagement is specially designed for the targets. These Deep Dives in further ahead are thus given, informed by the need of Jordan Grand Prix with an quite deepening understanding. Therefore, a good quality is arrived at.
Improvements can be made for better, which have relationship with the systematic change, and it is often throughout the whole factory and organizations. In Ian Clarkson and Eddie Jordan’s discussions, Ian expressed that the potential advantages of a partnership is quite clear; since the speed of the cycle dictates the speed of its bene? cial effects are brought. So each change are put together to make the car performance better. For Jordan Grand Prix, it has three inextricably linked objectives; and the performance is measured the expression of the car in each race.
Specifically, it is the time cost to finish e each lap in race. Jordan does not copy that success of other successful corporations in the same industry, but put forward its three objectives. They are the goals of the championship in the world, a success in finance and a family to work. Those objectives are working together: the win or loss is related with everyone in the firm. With new working ways, which is aimed at getting the best results of every team member, Jordan can harmonize its results and plans.
For its business process reengineering process, an approach for progress that try to redesign the operations along the customer was thought of, who focused on improvement but not the function traditionally. For the Deep Dive 3, it further focuses on the design process of the new car and the design improvements way during and after the Formula One. Project Management In this part, the tools and techniques used to make project management successful will be introduced. Jordan Grand Prix appreciates the role of project planning in project management, which can be understood from several aspects.
For Formula one, it is a measure for success as well a brand. The interest and spread renders it a world brand, with the cars smooth lines and their speed potent associations; Formula One is also a pure competition. The decision of Eddie Jordan is to find outside help to improve the performance of this business; moreover, Jordan Grand Prix also should get a better organized and quicker to change. Jordan Grand Prix and its partner work together and the combing progress yields. For this great progress, it needs good communication, low cost and teamwork.
Jordan would not just move the success experience of Eddie Jordan, and it ranked the fifth place in the 1991 Championship. After then, it sets up three objectives aims to get the first in every contest. Since all people want Jordan to become a fast growth and success in finance; so Jordan Grand Prix starts with a family feeling and a great place to work. For Jordan, it has a family relative good atmosphere so that the deep dive 2 can be carried out better. ‘Family values’ is overhauled, to get rid of the weakness and does not worse its strengths.
A network of friends inside and outside the team is useful if they add to the corporate strength and performance of Jordan Grand Prix. Process identifies what needs to be done and systems tell how things are done. Structure concerns who does things, and how they are done within management. In the structure, the process work stream cares about how Jordan can reduce the time for parts operation with more and fast work. It also cares about the priorities, and Jordan’s experience to on the most important design. So management structures change.
An understanding and practical management structures is built up, with clearly roles that allow person to spread more effectively in and out the organization, to make the senior management be the heart place of the decision-making process. Every process structure is viewed inside from Jordan and a wider whole part, to make sure each task’s accountability clear. The restructure is also done during the project. The design office restructure wants to save time and money for Jordan. To reduce the lead times, the joint customer and staff team is put forward for the potential improvements.