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Conduct a gap analysis for anthonys orchard
Course:- Financial Management
Reference No.:- EM13851769




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The solution to the assignment MUST not be put on the internet and should be completely original and plagiarism free. Please, take time to read the material and provide a good quality solution for the assignment.

Excluding calculations and computations.

Word count: 1000.

Individual Assignment: Gap Analysis and Benchmarking for Anthony's Orchard

In the media piece for this unit, Anthony's Orchard Director of Operations Allison Sinclair expressed concern over the lack of successful efforts to measure organisational quality. Recall the following quote from her discussion of this issue:

As a family-owned business with a history of success, it is easy to fall into the trap of believing that we do things properly almost by default-the ‘we've always done it this way' and ‘if it ain't broke don't fix it' arguments. The danger with that line of thinking is what if it is broken? What if the way we've always done things is good but ignores some best practises that could lead to even better performance?

We are now at a point where we are ready to commit to a strategy of continuous improvement and quality management. This is a big step forward for us. But taking the next step is not so easy. Developing and implementing a process is new to us and will require careful analysis. In short, we know where we would like to be but are unsure how best to get there.

In this Individual Assignment, you will suggest an approach to address these concerns. You will propose strategies the company could implement to move from its current status towards its goals for 2015 using the processes of gap analysis and benchmarking.

To prepare for this assignment:

Review the media in the unit resources.

To completethisassignment:

1. Conduct a gap analysis for Anthony's Orchard. This should include:

- A statement of where the organisation wishes to be by 2015 (use financial data for this, such as targeted revenues and/or profit)

- A comparison of the current financial state of the organisation and the desired state by the end of fiscal year 2015

- Your suggestion for ways the company can bridge the gap identified in your comparison above

Devise a benchmarking review for Anthony's Orchard. To do this, discuss recommended strategies and measures that will be useful to measure progress towards the objective in your gap analysis.

Answered:-

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Gap Analysis and Bench marking for Anthony’s Orchard

Director of Operations, Anthony’s Orchard envisage that for the organizational quality enhancement and perpetual and efficient growth of the company it require that company shouldn’t continue same strategies which being insignificant not only affect performance but also future growth of the Company. For planning the strategies for the company we will deploy gap analysis and bench marking review techniques so as to evaluate company and advice useful remedies to enhance quality and position company at better place in the competitive market.

Gap Analysis

A Six Sigma quality control tool that compares existing performance with the potential performance of a business is Gap analysis. It identifies the level of lower achievement in a business due to poor use of resources and helps to decide on the strategy that yields the best outcome. Rather than being positive gap can be negative also.

To conduct Gap analysis it requires to review financial position of the company and to study growth prospect of the company and then compared it with that of market level so as to take decision to reduce the future gap.

The Company is growing with year on year revenue growth of 10-12% whereas the industry average is 14% and average of top 3 market leader is 18%. On revenue front Company has a potential to grow and gain market share. Anthony’s Orchard have pointed out that practices followed by company is good but still not the best practice require to survive in long run. Thereby, company should deploy appropriate plans to achieve the target of at least industry average and to pounce for market leader average.




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