Busi1377 Applied Engineering And Management Assessment Answers

Answer:

Introduction

Market facing refers to the point of contact that exist between suppliers and their respective customers. A market facing initiative therefore an organization that is seen to be sensitive the prevailing requirements of customers and markets. In the current business environment, for a business to gain more benefit, several businesses across the globe are rapidly optimizing their business processes to match the demands of the current market. A business is set to perform better in the event that there exist high quality systems (Gray & Hubbard, 2016). Businesses are also developing new systems. For new systems to be developed, necessary resources need to be gathered, negotiated and validated and all this comes with prioritization as well.  

It is evident that across the globe businesses are also developing new systems. For these new systems to be developed effectively, it is essential that necessary resources are supposed to be gathered, negotiated and validated (Becherer & Helms, 2016). The main idea behind all these things is that. These elements provide, support and the necessary guidance to ensure that key risks are noticed and quickly brought into focus to be rectified and properly managed. This is the key point of focus in all this.

Requirement gathering being one of the key elements involves collecting the user’s needs for purposes of solving problems in order to achieve specific objectives of the organizations. A requirement being the outlined capability that a product must have in order to satisfy a customer’s specific need is an essential element when developing new systems. For a new system, a series of needs must be met appropriately if high level objectives of the organization are to be met effectively. Given the sensitivity that comes with requirements it is important that these particular requirements are made very clear in order to ensure that the needs of the stakeholders are properly met. These requirements have to be functional, they must have a well detailed breakdown that stipulates how the expected projects outcome will run so as to meet other requirements (Sánchez, 2015).

Prioritization

Gathering, negotiating, validating and prioritizing requirements of market-facing are serious challenges in today’s business environment. Most often, the difficulty realized in prioritization arises from lack of well-defined process to prioritize work in an organization. Moreover, most of the process within organizations always involve people and in many occasions solving people problems stands out the most difficult problem to handle. In this regard, prioritizing features is one of the things that tend to rate very high compared to all other challenges especially amongst product leaders in all business across the globe (Khari & Kumar, 2013). Making a determination as to what warrants a team’s commitment, time and money is so far one of the most challenging tasks.  For product professionals, it is normal and very much likely that their roadmaps will be hijacked from time to time. It is unavoidable to have other pressing issues get in the way. It is important to note that polarization is very much possible in the face of prioritization given that in many occasions, prioritizations is often perceived as preferring one’s idea over the other’s idea. As a result, emotions can play out in such circumstances especially in situations where people have personal interests in a given idea. In the event that such situations a rise, then the solution is to bring about collaboration at various levels. Under these circumstances it is the role and responsibility of the product leader to ensure that proper communication is delivered as to why specific ideas are preferred. This requires connecting with all stakeholders. Successful prioritization requires a shared vision and product purpose.

Requirement gathering techniques such as structured approach to requirements management can help solve various problems experienced with various business organizations (Gray & Hubbard, 2016). It is important to develop a very smart objective that can guarantee success for the business through its new systems. The use of a scientific approach will require that the organization or business maintains a constant description of all objectives and corrective measure in order to help counter loopholes that may arise within the system. Validation and especially market validation involves a series of interviews. These interviews are often aimed at the people in one’s target market.  The need for the interviews is that they help to test a specific product’s prevailing concept alongside a prospective target market. A validation (market validation) ought to be carried out prior to the introduction of a product to the specific market. More specifically it is important to ensure that market validation ought to be done much earlier at the onset of the specific process. This is essential because a better of the target market is vital and will be of benefit in helping to build a more robust product. Depending on the number of interviews and the interviewers, market validation can take a much shorter time.

References

Gray, B., & Hubbard, J. (2016). A New Perspective to Predict Resting Energy Requirements Using a Validated Activity Questionnaire. Journal of the Academy of Nutrition and Dietetics, 116(9), A71.

Becherer, R. C., & Helms, M. M. (2016). The Role of Entrepreneurial Marketing in Improving Market Share for Small Businesses Facing External Environmental or Resource Challenges. Journal of Business and Entrepreneurship, 27(2), 119.

Sánchez, Y. (2015). The Market Facing the Autonomy of Art.

Khari, M., & Kumar, N. (2013). Comparison of six prioritization techniques for software requirements. Journal of Global Research in Computer Science, 4(1), 38-43.