MNG3702 October/November Exam 2024 - DUE 15 October 2024

MNG3702 October/November Final Exam 2024 - DUE 15 October 2024 ;100 % TRUSTED workings, Expert Solved, Explanations and Solutions. For assistance call or W.h.a.t.s.a.p.p us on ...(.+.2.5.4.7.7.9.5.4.0.1.3.2)........... Green Threads Green Threads is a South African company in the textile manufacturing industry. Their vision is to be an international leader in sustainable textile manufacturing, and to deliver high-quality and eco-friendly products to inspire a green future by utilising the most advanced textile production processes. Textiles manufactured by the company are recycled polyester fabric (manufactured from recycled plastic bottles and ideal for sportwear), organic cotton fabric (produced entirely from organic cotton which is grown using no synthetic pesticides or fertilizers and ideal for clothing) and bamboo fabric (manufactured from bamboo pulp and ideal for active wear and under wear). Long-term Objectives The long-term objectives of Green Threads are centred around four areas: • Optimise the Fourth Industrial Revolution: This will be achieved by using technologies to enhance the operational efficiency of the company, to drive the innovation of new environmentally friendly products and to promote sustainable practices across all their manufacturing processes by 2030. • Leadership in sustainability: The company plans to achieve zero waste and carbon neutrality by 2030. They invest in research and development to introduce at least one new sustainable product annually. • Enhance customer satisfaction: The company plan to deliver innovative, highquality products and exceptional customer service, with the aim to achieve a 96% customer satisfaction rate and a 55% increase in customer retention by 2030. • Expand market share and increase financial performance: The company plans to enhance an awareness of their production of eco-friendly textiles amongst their customers, ultimately leading to an increase in revenue and profits in targeted markets. Organisational Culture Green Threads has a culture of innovation, collaboration with business partners, sustainability, responsibility towards all stakeholders and ethical decision making. Managers of the various functional departments of the company are strongly encouraged to think creatively and gain information from the business environment. For example, the political and legislative environment, where the South African government has invested funds to help the industry upgrade and modernise their processes. Green Threads made use of this opportunity to implement advanced textile production processes. By combining this with the information gained from their years of experience 5 MNG3702 CONFIDENTIAL Oct 2024 [TURN OVER] in the industry, the company has improved domestic textile products, processes and delivery efficiencies in the textile industry in South Africa. In addition, the company created 20 000 additional job opportunities and now competes on a global scale. The company values transparency, ethical decision making and business practices, and a commitment to environmental and social responsibility. Furthermore, senior management of Green Threads ensures that all employees know their responsibilities and the key metrics used to evaluate their performance. They also offer employees a balanced lifestyle. For example, factory workers are working in shifts that do not exceed a total of 40 hours per week. In addition, the working conditions in factories are of the highest standards in terms of occupational health and safety. However, factory workers are exposed to high noise levels and have repetitive tasks, impacting their levels of motivation. Factory managers plan to rotate factory workers to reduce their performance of repetitive tasks. Their Research and Development programmes focus, inter alia, on the implementing of high-tech equipment and machinery with lower levels of noise. Programme and project managers are given the freedom to experiment with new products and production processes and the organisational structure of Green Threads support this. These managers continuously talk to customers and employees to gain more insight in what is working well at Green Threads and what is not working well. Organisational Structure Green Threads operates with a flat organisational structure with the aim to enhance effective communication and quick decision making. Furthermore, the structure is designed in such a way that authority, responsibility and accountability are clarified. In other words, employees in the company have a good understanding of their authority, what they are responsible for, and their accountability for their actions and performance. The core processes of the company are organised across the following functions: • Research and development • Production • Quality assurance • Sales and marketing • Human resources • Finance • Supply chain • Sustainability, responsibility and compliance The company has a strong team focus, with various ‘green team’ initiatives. 6 MNG3702 CONFIDENTIAL Oct 2024 [TURN OVER] Strategic Initiatives, Programmes and Projects During 2023, the ‘green team’ of the company had an entire potential portfolio of strategic initiatives to invest in, which was aligned with the vision to be an international leader in sustainable textile manufacturing, and to deliver high-quality and eco-friendly products to inspire a green future by utilising the most advanced textile production processes. The production of Econyl, Repreve and Bananatex was identified as possible projects. Econyl is regenerated from nylon made from recycled materials such as fishing nets and industrial plastic waste. It is used in various products, from swimwear to carpets. Repreve is a type of recycled polyester, made from discarded plastic bottles and used in many brands to create eco-friendly clothing. Bananatex is made from banana plants, it is biodegradable and without harmful chemicals. It is an example of innovative sustainable textile production. Green Threads eventually decided on the manufacturing of Bananatex, with the shortest payback period of their investment in the project, and the largest contribution towards its long-term objectives. In addition, the manufacturing of Bananatex has a moderate level of risk since it involves similar production processes than the company’s existing products. A clear strategy was developed to commence with the manufacturing of Bananatex, that involved the appointment of a project manager, who reported to a programme manager, the identification of the strategic and financial value of the project and the benefits expected thereof. Bananatex is made from banana plants, grown in KwaZulu Natal without pesticides, fertilizers or additional water. It is durable and when coated with beeswax, it becomes water resistant without the need for harmful chemicals. The production of Bananatex supports local communities by providing jobs and promoting sustainable farming practices. It was decided that the success of the project would be measured by the increase in the company’s market share, the number of new jobs created, and the creation of value to all stakeholders, especially local communities. A project team was established, responsible for a project schedule, obtaining banana stalks, appointing artisans that extract fibres from banana stems and leaves, high-tech machinery that spin extracted fibres into yarns and woven into fabrics, and coating the woven fabric with natural beeswax. The project team was also responsible for the implementation of the project and tracking its progress. An executive sponsor was appointed, responsible for ensuring that the project outcomes were aligned with the long-terms goals and strategic metrics of the organisation. 7 MNG3702 CONFIDENTIAL Oct 2024 [TURN OVER] The project schedule was compromised, and the supply chain was disrupted with the outbreak of fungi on the banana plants, which infected the plants through their roots, causing wilting and eventually killing the plant. During this time, various stakeholders were consulted and, together with the supply chain and financial managers, it was decided to continue with the project. Alternative suppliers were sourced, and the company was able to import banana plants from the Philippine highlands. Once the project was completed at the end of 2024, the company still made a profit on the production and sales of Bananatex and it became a part of their sustainable product offering, contributing to the success of the company. QUESTIONS Question 1