CASE 5

1. What and who is the culprit of the G-World’s situation?

An enterprise or a firm is known as a business, it is an organization which involves in the trade of good, services, or both to consumers, clients or stakeholders. Business is prevalent in capitalist economies where most of them are privately owned and provide goods and services to customers, clients, and stakeholders for profit. Business may also be not to profit or state owned. It is also a business which is owned by multiple individuals which may also referred as a company. There are also forms of business ownership these are sole proprietorship, partnership, corporation and cooperative. Sole proprietorship is owned by one person and operated for profit. The owner may operate the business alone or employ other people. Next form of business is partnership, when we say partnership form the word itself it is a business which was owned by two or more people. In most forms of partnership, each partner has unlimited liability for debts incurred by the business. Next kind of business is the corporation which was the kind of business we will tackle about. The owners of a corporation have limited liability and the business has a separate legal personality from its owners. Corporations can be either government-owned or owned by individuals. They can organize either for profit or as not for profit organizations. Corporation is what the G-World Company and Universe Company choose to follow. And lastly is cooperative, or mostly called as “co-op” a cooperative is a limited liability business that can organize for-profit or not-for-profit. A cooperative differs from a corporation in that it has members, not shareholders, and they share decision making authority. It does not matter if you choose partnership, proprietorship, corporation or cooperative as a kind of business what matters is the way you plan and organize the business you made. In a business many things are should be considered one of this is the money which will be the way to make your business still on the top.

G-World Company is an IT solutions company that caters selling of IT products, rendering IT services and education.   Their main office is located at the heart of Cebu City, Philippines. They have branches in Mindanao where existence of Client X is located. The G World Company is offering two projects. Project one was the mother business of the company which sells IT products and services. Project two was the subsidiary business of G-World which accommodates educational centre facilities for IT of technical and vocational courses. Main objective of the project is to have a mass expansion of the business matter of G-World. In a business there should always be a competitor and this come the existence of Universe Corporation. Universe Corporation was the competing business center of G-World Company that accommodates services most likely to G-World. The scenario is this, Project one was the mother business or the main project which was offered by the G-World Company. For the past 20 years of existence, this project was the very most highlighted product of G-World Company. Project two was introduced to make sure their sales production will be continuous or the clients and stakeholders can choose between the two projects, and in some reason, they have a supplementary and subsidiary business. Subsidiary on the other hand is a company which is wholly controlled while supplementary is a project which is added or to serve as a supplement to the other. Supplement is something that completes or makes a useful addition. One example is this is a company which rose for more than 5 years. On those maximum succeeding years they are the only company which offers a customized bag which the clients will design for their desired bag. On the sixth years of existing their sales was down to their original sales. One day they just know that another store was opened and that they also offer the same and with a lower price their old costumers or clients just went to the other company. The other company added a supplementary plan to be able to get the lost clients back. When the supplementary plan was a success the clients just then went back to them and again gain more sales than before. Getting back to the G -World Company their employees were given the most compensation benefits because of the hard work they had given to G-World Company. When Universe Corporation rose, that was the time of the company’s chaos or a state of confusion instability of Project one, which is IT product selling. And because of the existence of the Universe Company the Client X would seldom go to G-World on buying some IT products. G-World cannot force client X’s decision on buying things even they offer big sales and discount services along the time. The client also has the right to choose between the two companies. Another problem was the scenario of expanding G-World’s business into educational center was of massive or unusually large or intense distraction. Sales been acquired by Project two been shared and supplied to Project one for about 5 years because they need to raise Project one again, G-World does not want their mother products be dead. Now employees of Project one was choke up by the benefits and the salary their accepting. A year later, cost cutting workers been applied, and up until now- G-World is selling Project Two to some company to have another investment project prospect.

G-World Company has two projects which is first the project which was considered as the mother business or the main project they offered. This project is the only project before which they focused and made the G-World Company famous which also took the trust of the Client X to invest into that kind of project. In a business venture or in planning or making a business the president or an owner of a business which will be establish should think a major project which is unique and will catch the attention of the clients or the consumer. For example, Alissa is a fresh graduate of a University which he graduated as a comlaude of a Bachelor in Science in Business Administration major in Marketing in that year which she graduated she tried to apply to any company which she thinks her title suites but out of all the company’s she applied none of them hired her and in some reason because of the degree or the title she achieve it is stated that she is over qualified to that works. On the next succeeding years of applying to any kind of job which she was always rejected she finally decided to at least just make her own business company which she will not just earn for a living but will also help some fellow graduates to finally be chosen on a job. She planned to have a restaurant which will offer an Asian cuisine the major plan for this project is that the costumers itself will be able to see or if they want will have the opportunity to cook the foods they want to eat with the help of the cook. The point here is that in doing a project one would be able to have a major project which will be the project to be given to the costumers and would always be open to any changes and problems. And then project two was introduced by the G-World Company to the clients and stakeholders to make sure that their sales production will be able to continue and would make the clients and stakeholders to choose between the two projects.

The culprit on the G-world’s Company is the Universe Company which just rise from nowhere and copied the project proposal the G-World company has done for the past 20 years. Their existence cause G-World Company’s sales to lessen and also made the Client X to change its mind on where it would like to make transactions for their company. In a business there would always a rivalry it is not new to this kind of community. Rivalry is an act of competing to other business in order to gain more clients. When major businesses vie against one another for an increased chunk of market share, consumers tend to benefit this means that the other company with a rivalry would be forced to lower the prices or give a big discount just to get the heart of the consumers to get back to them and buy their products. Competition between two rival companies can often drive innovation, motivating each firm to improve or expand its product range, build better relationships with its customers or reinvent its branding strategies to enhance public appeal. Moreover, these competitions can be quite entertaining. The origins of some of the most famous business rivalries may be surprising, as well as many of the lesser-known tactics that feuding companies have used to get ahead over the years. Just like the rivalry of Microsoft and apple. Some might argue that Microsoft and Apple are not competitors according to their core product lines, it is undeniable that they offer rival influences on the direction technology should take. Apple founder Steve Jobs created the first personal computer in 1977, refining the product until it gained widespread acceptance. Microsoft was founded by Bill Gates in 1975 and gained success by licensing its Windows operating system, which was incompatible with Apple hardware, to computer manufacturers such as IBM. By the mid-1980s, Microsoft products dominated the computer software industry, and Jobs was ousted from his position at Apple. Jobs eventually returned and led Apple’s revival, crafting a line of sleeker, more design-focused products. Since then, Apple has taken a major slice out of Microsoft’s market share, with sales for consumer products such as the iPod numbering in the hundreds of millions. In the business space, however, Apple still controls only 2 percent of the market, and Microsoft remains the dominant force while providing Apple with much needed software programs, such as the Microsoft Office suite. Tension derives from Apple’s focus on style-driven innovation versus Microsoft’s more work-oriented approach, a rivalry encapsulated in Apple’s now famous Mac vs. PC ad campaign. Just like G-World Company and Universe Company they offer the same project proposal but the other with a lower amount but of course the client or the stakeholder will choose the new trend which best suites the Universe Company. The culprit of G-World Company focuses on the existence of the new company which is the Universe Company. Because of this the client x choose the newer company and which led to the employees were given the most compensation benefits.

Investors, clients or stakeholders in a company are exposed not only to business risk, but also to financial risk, liquidity risk, systematic risk, exchange-rate risk and country-specific risk. This means that in any kind of business it must face a problem or will face a problem for them to be challenge on how will they handle this kind of situation. If not handled well as a result the possibility that a company will have lower than anticipated profits or that it will experience a loss rather than a profit. Business risk is influenced by numerous factors, including sales volume, per-unit price, input costs, competition, and overall economic climate and government regulations. A company with a higher business risk should choose a capital structure that has a lower debt ratio to ensure that it can meet its financial obligations at all times. This is just what the G-world Company is experiencing from the situation that the Universe Company started from business and because of that G-World Company had taken the risk of getting or making a new project proposal or an option which will in a way for them be able to give back what was lost to them. It is not bad to take a risk, but it is better if we think twice whether this risk would lead to success or if it would only lead to failure.

2. WHAT WAS CLIENT’S X PROBLEM OF NOT CHOOSING PROJECT ONE OF G-WORLD    COMPANY?

 In every business there will always be any transactions. In every transactions, it always involves both parties the clients and the business owners. In every business there will always be a competitor who will sometimes be a friend or an enemy. No one ever better or even best in describing or being the judge of your services or any materials offered than the buyer and your customer who is also your client. The success and the quality of the services you offered depends on the feedback that the client is going to give you after receiving your services. As to what is said that the client or the customer is always right whatever they say, so as the owner of the business we have to accept whatever the feedback is, be it a positive or negative one, be it advantageous or disadvantageous. There comments and feedbacks are very important because it is used as the basis of improvement in the kind of business that you offer. Well in the case of business, especially in the business that involves IT, it is not that easy because it does not only talk and base on the product and the services. If in line with the product, it include the quality and the cost of the product and to make sure that those things will be best attained, you as the owner and your staffs must know the different ways of managing the cost and the quality because it is very important in the talk of product. And to attain that so called quality or proper cost, it needs the knowledge that involves the project quality management and project cost management.

            Talking about the services offered to the clients, it is very important to possess the best of everything. When we say the best of everything, it includes the way how you handle the services offered, if how will the staffs act in front of the customer which is not talking about the attitude towards his work and responsibility. Another is about the knowledge and skills that are both very important in the case of offering the services known for the business. Both of this aspects or factors matters most in the services offered in terms of the business in the IT industry and also for other type of businesses because this is what we give and offer to the client. And the client always deserved the best in everything. According to the situation or as to what the scenarios shown above, the Project One of the G-World business which is the mother business of the G-World business is offering the one that is mentioned above which are the products (IT Products) in specific and the services that involves or inclusive for IT. It was stated that the Universe Corporation was the competing business center of G-World company that accommodates services most likely to G-World arises also and during that time the project one of the G-World business is most likely down and there are different and variety of suspicions about the reason for the said problem.

            In the case of the problem of the G-World, only the client knows the reason if why is it that he (client x) does not choose the project one of G-World. Whatever reason it is, he is the only person who knows about it and for that we can say or we can conclude of some things into our mind. There could be a possibility that if it is about the product of G-World then it must have missed something that does not suit the standards of the client x. It could possibly be because of inconsistency of the product. There are really lots of possible reasons for it. Basing on the sequence of happenings and events in the situation or scenario given, and comparing or relating it to the PMBOOK or the Project Management Book of Knowledge, I can say that what it missed the most in the talk or the area about the product and the services given is the Project Cost Management, Project Quality Management, Project Risk Management and the Project Procurement Management. In the case of the products offered or sold and services rendered, there can be a defect on the quality of the product and also for the cost of the product. When we say project quality management, we will be more familiar with the word quality, quality that will give us more understanding the deep meaning of quality in the case of business and projects. In the sense of Project quality management, it is about reaching the goals or the standards that should be rendered to the client and base on what is really planned on the project undertaken. It should reach the quality objectives and the responsibilities of the developer or of the business to satisfy the needs and the standards undertaken and is agreed with the clients. It could be that the client x observe some inconsistency from the services offered to them. The Project one of G-World must have forgotten and missed some key which is the longer their client is in them the more that they should take good care of it. But maybe what they have done is the opposite, they must have thought that since this client x is their long term client they forgot to give the best of their services and just merely give what is ask without ensuring the quality of the product.

            It could be also that in the latest transaction of the project one of G-World and client x, there are some mistakes or services that needs an improvement and they ask the project one to document those things or parts that needs an improvement but then it must have been disregarded by the members or the team of project one. Another possible reason for that is that this client x must have tried the product and services offered by the Universe Corporation and must have compared it to the project one of g-World since the kind of service they offered were most likely the same. If I were the client x and I have tried both the services they offered and if I have observed that the rendered service or the product of the Universe corporation is much likely good than the project one then I would really choose the one that helps me more and gives me more convenience and benefit. As the saying goes that prevention is better than cure in the case of health, the quality of the product and the services is better prevented from incoming destructions and mistakes that is supposed to happen than correcting the mistakes that has been already done. In this way it helps in the cost management of both parties which is the developer or the Project one or the Universe Corporation and the client. Ones it helps the client x the best quality in the less or lowest possible price or cost then it would meet the customers’ satisfaction. Everything that I have mentioned above must be missing in the case of G-World’s project one that is why the client x did not choose the project one of G-World’s company.

            If in the case of learning we said and comply the phrase that is commonly use such as never stop learning then it is also very important in here. In the case of both companies, they should have the difference of the services offered and rendered because of the time frame difference of their foundation. But as they go along, the G-World must have slowly stop learning, why do I say so? It is because when you learn about new things, you tried to improve those things that needs improvement and that must be one of the reason. It could be also that even if they offer less price and big discounts, still the competitor (Universe Corporation) offers the best quality. What will client x have if it cost less but the quality is also low. As what is observe in my answers, the ideas and thoughts are all about the quality of the product and services since the question is asking about the reason for not choosing of the client x to the project one of G-World. Even I myself as a buyer, what matters most to me is the product’s quality and cost. I should be considerate about the cost quality of the product that I will be receiving. So, as what  is understood by me as the reader or observer of the situation, the client x problem is how the project one will deal with the sudden change of quality in everything about them and on what is it about the Universe Corporation that made the project one of G-World fell down and has to be raised again.

            Therefore, what I can conclude in this long way discussion about the question of number two which is about the client’s (client x) problem is the management of everything and some personal reasons that relates or involves technically. As a businessman or businesswoman, no matter how big time or how big our name is in such industry, in the end or at the end of the day, the result of the judgment will still rely on the judgment of the customer or clients. We cannot force them to like or to receive our product and services if is not their will. Clients are always right as what I have mentioned above so whatever the decision of the client is, we or you as the business owner cannot force the client on how to behave on product or the services that is offered. In terms of IT products and services, the clients including client x are really very keen in observing the type or the kind of quality that they are and that they will be receiving. In connection to the question ones again, there are lots of possible reason in the side or part of the client x for not choosing the project one of G-World. Since it is not stated that client x transferred there transaction to Universe corporation, it could be that client x already stop buying products and services of IT products. It could also be that the other party or the competing business which is the Universe corporation, offered them (client x) a lesser cost or price for the kind of services that is offered by both company.

            There could be a possibility also that it is not a problem of the client (client x) for not choosing the project one, it could be because of the current situation of the project one of G-World which is diminishing or at its lowest during that particular period. The status of their business could be one of the reason and because of that, the client x might have lost some of their trust to the project one of G-World where they usually do. In connection to this reason, it could be also that they have found another company such as the Universe Corporation who can give them the better one than the project one of G-World. Talking and enumerating all about this things only gives us the idea about on how important is the services that is to be rendered to the client so that there will be consistency and they will remain to be your client no matter what will happen to your business, be it on top or at the bottom in such industry. In my case as a client and if I were to put myself in the situation of the client x and then if  I ask about my problem or the reason why I have not chosen the project one of G-World, my answer or response will just be the same with those things that I have mentioned above. As clients, be it on the same or different field or industry of business, the bottom line of all is the kind of services and product received from the paid services. We ought to receive what is right and worth for us.

3. HOW ARE THEY GOING TO MANAGE THE SUDDEN DROP OFF OF PROJECT 2?

            As what is expressed in the saying which is before you react, think first, it will also relate to the thought of the scenario in the situation given. It is really very important to think first before putting everything into action and it would be better to think things not only one or twice but a hundred times. This thing will not only apply to matter that relates to one taking action or to making decisions but also in the case of project. Project Management is very important and one to the aspects that should be considered in everything that relates to IT project management relations. Things are best when things are thought of a hundred times because it will make it to success. In the case of the IT industry, as we all know that the kind of services offered and rendered to the client are most likely the same. Such as the web development, installing or installation of IT related appliances, maintenance and many more. It also involves in the selling and buying of different IT or computer related resources such as the personal computer monitor, the printer, the speaker and many more. Aside from those things mentioned above, it is also important to know if what are those possible expansions that will help to improve the profit, the sales, the experience, the knowledge and most of all are the skills and the capability of the company to handle different kind of business that will help in the company.

            In connection and relation to the question that emphasizes about the scenarios in the situation given above which on how to manage the sudden drop off of project two(2), there are different and variety of ways to solve and manage it. But before I will give my idea, I will give and state first my own sentiments and comments about the situation between the two projects of G-World namely the Project one and the project two. Because of the current situation of project one where nobody really knows the real reason and cause for that, the implementation or let us say the project two is really affected. As to what is stated in the scenario or situation, the sales of project two have been shared and supplied to the project one for five years because they did not want that the project one as the major project and the mother business of the company will fall. Without thinking they had implemented and put up project two maybe without thinking if it will affect their mother business. Though the purpose of the project two is very different from the project one because it gives more emphasis in the educational system, it is still considered as a distraction because it is not that closely related to the kind of services they have offered in project one. Before everything else started, in the planning and everything else they must have forgotten the importance of project management.

            Connecting and relating this to the story or the scenario in given situation, I would decide to stop it first or sell it and then they have to focus first on the project one until they will be able to resolve the current situation of the project. Since the root of everything is the project one and its mismanagement, the project two is so much affected. For me the simpler way to solve the problem is by stopping the implementation of project two because as what is stated in the situation or scenario above that the project two is a big destruction. If they had not solve yet the current situation in project one, they there is a big possibility that what happened in project one will also happen in project two. And resolving things will really takes so much time and effort and since project two is just their subsidiary and supplementary business or project then they must have not put all their attention to it. I recommender the method of stopping the project because it is the most applicable way that will require less effort, time and money for the processes that will be involved. If in five years, the time frame is really that long enough for a small, subsidiary or complementary business to supply, share and to be used in the raising project for the project one. Ones the project will be solved and it is stable already that is the time that they can put up a new project that is considered as the project two and while implementing or putting it up, they have to consider all the factors that made the past project to what it is used to be. They will need the different project management processes and what is most likely available to be used in this kind of cases is the project risk management techniques. They should be able to apply what they have learned from the past project and try to analyze and think if what will be the things that should be avoided for polishing.

            Ones they will be able to discover already the right or the correct and better strategy then they can repeat or establish again the same project as before even if they have to start it slowly. And implementing or putting up a certain project is not just like something invisible that will show in a blast. It is something that should be planned. The G-World company is a company of two decades already and thinking and observing from it, they must have acquire already great knowledge,  learning’s and strategies from all the projects that pass through in there company. And through those experiences, there are lots of things that is very applicable that they can use in the case of project two. Though all the things that is put through in project two is very important such as the time, the effort, the manpower and most of all is the cost that is said for that project, they have also to think about on what will happen to it and to the project one if they are going to push it through. If they had managed the problem by continuing it despite the situation of project one then it can be okay if they are ready for the possible consequences and if they have the budget for that certain or sudden change that happened. But as the situation and the problem arises to the project one, it will not be easy to save the project two. If the project one is all about selling IT products and rendering different IT related or computer technology related services and then in the project two it is focus on the education, it is harder to meet up the two if both are in a difficult situation. If the focus of project two is all about education, then it will really need lots of money because it will involve different IT related resources that will be used in the project.

            Well, if we are going to think and to analyze the situations happening in both the projects, it all happened because of the members of the team. The works of the team will always reflect on the output of the product or the quality of services that they have offered. Their passion to their work always reflects to their team and individual output. Whatever it is that had happened to project is not an example of failure for me because it is the one that supports the bigger project that is about to fail but in order to save one of their projects they have to give up one. They have to consider it as one because of the reason that they focus on the project one which is the company’s mother business and its major project and G-World as a company; they did not want to lose their major project. So giving up the subsidiary and supplementary one is the only choice. Regarding with my answer to this question, what I mean with stopping is to slowly let go of the project two and they just have to focus on the project one first. As we all know that it is not easy to just stop on something, we need to slowly limit on what is given to that project until it will be dissolved. Focusing on to what is their major concern is, which is the project one will be a good way for a good start in the business. Once the situation of G-World Company’s project will be stable and be back to normal then it will be easier to put up back the project two even with an improvement. In short or to make it clearer, the future of project two will be based on the decisions that is going to be made as of the present regarding the standing and the status of the both projects. If the project one will be focused on and then it will be in the stable situation then that is the time that they can put up a new business or new project, be it a style or a new proposed one, what matters most is on how they handled the management of that incoming or current project that they have taken.

            As to what is experience by all kinds and types of business, business is business and it is a matter of strategy and proper management for it to stand still and grow along with the society where it is present. Business is like life wherein it also experiences failure, the only thing that makes it differ to life is that, it only stands up with the responsibility of its owner not like with humans in which we struggle to help ourselves stand up again. Business can also be a matter of give and take, it can be a matter of giving up something for a better purpose and for the best result ahead of it. In the case of project management that is going to be applied in businesses and projects, it is very significant and needed. It is one of the key to a successful project. And it will only happen if the nine project management processes will be followed. These are the Project Integration Management, Project Scope Management, Project Time Management, Project Cost Management, Project Quality Management, Project Human Resource Management, Project Communication Management, Project Risk Management and The Project Procurement Management. Mentioning all of this might be redundant but it is very important and is really needed in the process. I mentioned all of this because after making the project one into a stable situation, it is the most applicable and recommendable process in the making of project two and the business of G-World will be a big success if only they are going to follow these things.

The drop off to G-World’s project two will be the ladder and the stepping stone of the mother business to be back to its original place and it will be the way for the new project two to shine and show off in the future. Whatever the decision that they are going to follow and do, whether they are going to continue the drop off project or to revise it into a newer one, it will all depend on them but the bottom line of everything is on how they are going to handle any of those decided cases. Still after all the dealings and the thoughts, what comes up in the end is still money. Since it is all about business then, they should take care of everything from the simplest and the smallest form or aspect to the biggest and the largest one. As what is said time is money, and the longer they prolonged the situation of both project, the bigger their lost will be and will be a possible reason for them to make their company shutdown. But if all of the processes mentioned above will be followed then, no problem will be encountered and nothing will be affected.

4. Is selling Project two can satisfy what G-World is expecting?

In the current time, which is well thought-out as the “Computer Age” or the “Generation of Computers”, companies are most likely desire to engage in IT related business. It is based on fact that computers and high tech paraphernalia are the most important point of modernization nowadays which encompasses the objective of putting together more people get in touch with one another, anywhere you are and no matter what you do and making our lives simpler and more at ease to live in. In the generation where technology has its enormous innovation, putting up a business devoid of using computers is in the vein of trying to swim in a pool without water or trying to walk in a rough road without any footwear. Whether we like it or not, technology has a great role and huge impact in people’s lives. It has a big indispensable part on the way business is completed.

Without some clients or customers, obviously, you don't have a business. Other than shaping how to make your customers happy and create a smile on their faces or maybe work out their problems has turn out to be more intricate than ever. Without no trouble or difficulties, customers can easily jump or go to competitors or rivalry if they are not satisfied. To continue and stay in the best position or on top in a competitive market place, businesses must be on the cutting edge of consideration of the consumer’s experience. To a greater extent, they are acquainted by means of keeping on as close to customers and on condition that providing well-organized customer service that formulates good financial intelligence.

Expectations are normal. We expect something as a result of what we are doing. We are always expecting that things may fall in accordance of what we hope to be. Expectations provide you a framework on how you should do a certain work. Expectation is a tough conviction that something will going to happen in the future. Basically, expectations can somehow push you to do your very best and work beyond your comfort zone. Expectations are something that we look forward for. These might be a positive or a negative expectation, yet at a standstill, we are the ones who were given the freedom to choose so it is in our hands to whether we allow the negative results or not to happen.

Being focused in a project is very much essential in order for it to be successful. For me, I would probably agree with the decision of G-World Company to sell Project Two since they still want to bring back what was lost in Project One. It is said in the given scenario that the sales made by Project Two have been acquired (shared and supplied) to Project One for about 5 years because G-World Company still wants to raise Project One, once more. They do not want and allow that their mother product will just be vanished that easily and effortlessly. In addition, because of what happened to Project One, a number of employees or workers have also been affected. Employees were choking up with the compensations and the salary they were accepting. With that statement alone, it is very obvious and understandable that the Project Two is not that important as weigh against to Project One so why still hold on to a project which is not that beneficial or useful for G-World Company. G-World Company is expecting that if Project Two will be sold, Project One will get back to the track and will continue to go on to compete and contend in the business market. Yet, they are just expecting without some strategic plan prepared, which might be a hindrance or interruption once more in reaching their goals and target.

When putting up a business, you have to put up in mind that competitors will constantly be around, scrutinizing each small information you are doing in your business; for them to be proficient and skillful to come up with ideas that they expect will truly assert or emphasize with what you have in your business. Businesses do exist and continue living in an environment where competition or rivalry is taking place. In the case of G-World Company, its direct competitor is no other than the Universe Corporation. Direct Competitor is a business or firm which produces and sells a product and offers services that are identical or almost the same to another in the same market. But basically, in this type of competition in a business, one company will prevail or reign over the other in terms of customer service (offering the best personal attention to the wants of the clients and building connection to create a comfortable environment and great business relationship), and quality and customization of the product and services (offering additional attributes to the products and services in order to cope up with the needs of the clients). If G-World Company continues their desire to rise up again the Project One, they must be able to think new ideas and plans to catch the attention of more clients or customers. They must be able to think about engaging in innovative products. When we utter in relation to innovation, we are not just pertaining to a particular event or activity; we are defining a process. In connection to business, innovation is the fabrication of new ideas, the in progress development of products, services and procedures and their commercial application. In order to be more competitive and more people will continue to patronize the products and services you are offering, you need to be more creative and imaginative. Creativity is the most deep-seated key of being innovative as it brings about the process. It is about generating and making new ideas that can be made into reality, recognizing alternatives and possibilities in order to be useful in solving problems. Creativity became a waste of time unless it is integrated into a process to be able to come up into something that has market potential.

Innovation is also apprehensive with the commercial and practical relevance of ideas and inventions. In business, innovation is fundamentally the industrial utilization of feasible information. It includes the administration of idea production, technical improvement, manufacturing and marketing of a new product, process or service.

Based on my answer in the previous case, there are steps to be followed to be able the project will succeed; the project manager as well as the members in the project team must have enough knowledge about project management. Projects are divided into components and they, the project manager, should be acquainted about what is in the project management stuffs. The project team should be familiar and aware with the project management knowledge areas. So basically, there are nine knowledge areas in the project management and each one of these covers its own important component or factor of the project. Each area consists of phases and processes to develop a project more effective and efficient. So the following are the nine knowledge areas of a project management: (1)Project Integration Management- as we all know, this is the first or the initial phase of any project which engages the development or processes required to direct and manage the project elements as it should be. Having an effective and efficient project integration management consists of a project plan development, project plan execution and integrated change control. (2) Project Scope Management- in this area, it is a subset of project management as well that contains all the procedures required to find out that the project consists of all the works asked for within the project for the successful finishing point of the project. Mostly, this requires five paces which is the initiation, the scope planning, scope definition, scope verification and lastly the scope change control. (3) Project Time Management- this knowledge area is one of the most significant components of a project management that make sure the well-timed closing of the project in a thriving way by means of having good and effective time management. The project time management includes the process of activity definition, the activity sequencing, activity duration estimation, the schedule development and the schedule control. (4) Project Cost Management- in this area, each project has several financial statement boundaries or limitations. The project cost management is badly needed to make sure that the entire activities or performance of the project are done among the approximated funds and in due course, the finishing output of the project comes within the approved and agreed budget. So the project cost management process requires and involves resource planning, cost estimating, cost budgeting and cost control. (5) Project Quality Management- within this area, quality is the significant element of any various projects. Project quality management see to it that each and every of the processes are carried out and executed effectively in order to meet the quality constraint of the project for which it has been perform. An effectual quality management dwell with quality planning, quality assurance and quality control. (6) Project Human Resource Management- obviously if your company deals with various projects then in this area, a project needs a number of expert and skilled human resources for its thriving closing. Project human resource management areas make sure the useful and insufficient use of the manpower concerned in the whole project life cycle. A successful project management consists of organizational planning, staff acquisition and team development. (7) Project Communications Management- having an effectual and stable communication among the developers and stakeholders is very important for the accomplishment of any project and to keep away from any differences and dispute. A project communication management is made to make assurance that there is suitable and appropriate production, collection, distribution, storage, and final outlook of project information. Within this area, it engages communication planning, information distribution, performance reporting, and administrative closure. (8) Project Risk Management – with this area, finishing point of a project is a long and difficult occurrence or event and a number of risks are expected to take place throughout the project life cycle. The project risk management facilitate to reduce and lessen the risk issues by means of identifying, analyzing, and responding to project risks efficiently. In addition, it makes the chance of attaining the affirmative consequences of the risks and reduces the possibility and consequences of unpleasant actions to project objectives. So much more, the project risk management involves the risk management planning, the risk identification, qualitative risk analysis, quantitative risk analysis, risk response planning and risk monitoring and control. (9)Project Procurement Management- in this knowledge area, the complete project requires a massive asset and investments that can be operated with the help of useful and functional purchase system. In project procurement management, it consists of the processes that are needed for the attainment of goods and services to achieve the project scope from outside the performing association. This last area comprises of procurement planning, solicitation planning, solicitation, source selection and contract administration.

In creating and constructing a project as you can observe, there are a lot of knowledge areas that a project manager or a business leader must have to do. Despite of the fact that some areas are more essential than others, each of the area obliged to implement, apply and carry out with care and professionalism in order for the several project to be successful. When we say professionalism, it is the way on how the members of the team together with the project manager will act in any kind of situations. A further point that I want to give an emphasis is that in working a project, there should be the presence of expert and skilful people together with their proficient management so that success is on their hands. So the bottom line is that, to be able to have a successful completion of a project and executing the best output, we should understand and apply those knowledge areas of the project management.

 References:

http://www.roseindia.net/management/softwareprojectmanagement/project-management-knowledge-area.html http://smallbusiness.chron.com/risk-management-important-project-success-56920.htmlhttp://businesscasestudies.co.uk/business-theory/marketing/business competitors.html#axzz2r6CChZnvhttp://www.business.qld.gov.au/business/business-improvement/becoming-innovative-business/why-business-innovation-importanthttp://smallbusiness.chron.com/ten-steps-getting-project-back-track-35061.html