The Internal and External Business Environment of Paddy Power

ALBERT OLUMORIN Student No: 15020231 MODULE: MANAGEMENT PRINCIPLES MG6111 ASSIGNMENT 1 Table of Contents 1.1 INTRODUCTION 1 1.1.1 An Overview of Paddy Power 1 2.1 MACRO (IPESTEL) 2 2.1.1 International 2 2.1.1a Expansion into Australia 2 2.1.1b Business-to-Business (B2B) Venture 3 2.1.2 Political/Legal 3 2.1.2a Offensive Ad 3 2.1.2b Under-age Bet 4 2.1.2c Rob Keane’s Lawsuit 4 2.1.3 Economical 5 2.1.3a Global Economic Downturn 5 2.1.3b Foreign Exchange Rate 5 2.1.4 Socio-Culture 5 2.1.4.a Responsible Gambling 5 2.1.4b Sports and Social 6 2.1.4c Health and Safety Policy 6 2.1.4d Publicity stunts 6 2.1.5 Technology 7 2.1.5a Mobile Betting 7 2.1.5b Acquisition Cayetano 8 2.1.5c Marketing Strategy 8 2.1.6†¦show more content†¦I guess they do care for their customers. 2.1 MACRO (IPESTEL) IPESTEL: International, Political, Economical, Social Culture, Technology, Environmental and Legal. In this section, we will consider the external environmental analysis based around the factors in relevance with Paddy Powers. 2.1.1 International A process by which businesses develop international influence or start operating on an international scale is known as globalization. Organizations today see globalization as an important step towards growth and Paddy Powers has done just that e.g. the expansion to Australia, B2B venture and so on. 2.1.1a Expansion into Australia Australia was the company’s first stop; in 2009 51% of the company’s online stake in online bookmaking was brought into Australia as sportsbet.com.au (Paddy Power, 2015). By 2010, the rest of the shares were brought in (Paddy Power, 2015). 2.1.1b Business-to-Business (B2B) Venture Paddy Power established partnership overseas. The company shared its technology with partners overseas as a B2B venture. Although the point can be considered as a technological factor, it would be seen more as an international factor for this case study. The first B2B partnership in 2009 was in France, with Europe’s largest betting company PMU (Paddy Power, 2015). 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Role of Project Methodologies in Project-Free-Samples for Students

Questions: 1.Define what a Methodology is and the role it serves in Project Management. 2.Familiarise yourselves with the various Methodologies in the list below. Choose two Methodologies from this list to Compare and Contrast, analysing the similarities and differences between them both. 3.Finally, identify how your chosen Methodologies and Processes relate to the Project Life Cycle (PLC). Answers: Introduction Project management can be defined as a methodical approach which is used to guide and plan the processes of the project from commencement to achievement. Through project management, a project manager can apply techniques, skills which lead to meet the specific project`s requirements. This report embraces the different methodologies and the role of project methodologies in the management of the project. Project Methodologies Project methodologies can be defined as a guiding process which helps the project manager in planning, starting and implementing the project. Role of methodologies in project management The methodologies play an important role in the management of projects. While doing a project, the project manager should be known about the purpose of the project, its goals, objectives etc. The idea, strategies, and plan must be prepared for the new project, therefore methodology is used for management of projects, as they support in making the decision that the plan and strategy made for the project are fit or not(KATCHEROVSKI, 2012). Through methodologies, the project manager gets focused on the right things in the right ways; as by the help of the methodologies we can focus on the strategies, we are making for the project. Decision making is also an important key in the project by making the right decision we can take our project in the right direction and achieve the objectives; by the support of the methodologies, right decisions can be taken for the projects. Other important roles of methodologies, in the project management, are helps the manager in dealing with the uncertainties(Aston, 2017). Use of methodologies makes easy for the manager of the project to understand each other, stakeholder and team members. It also helps in controlling and monitoring the project. Types of Project Methodologies Project management cannot be done in the absence of project methodologies, there are different types of methods which can be used for the project management accordingly (management projects, IT projects etc.). Some of the project management methodologies are discussed below: CCPM- It stands for Critical Chain Project Management; this method of project management lessens the duration time of activity by 50%, therefore project can be completed early(Cren, 2016). In this method, buffer management is used for controlling the plan and ensuring least errors. Agile- This method can be used for the projects which need extreme speed and flexibility. It is an ultimate methodology for smaller software projects. Waterfall Model- This methodology is generally used for the large scale projects related to software development, in which expectable process and systematic planning are paramount(KATCHEROVSKI, 2012). RAD- This methodology is used for development of software, and the main purpose is to develop more rapid and high-quality Crystal methodology- It is a quite supportive method for contracts which have fixed price. Flaws are used to be detected in the initial phase of the project and there is less probability of occurrence of errors Difference between Agile and Waterfall The difference between the waterfall and agile methodology are discussed below: S.no. Waterfall Agile 1 It is also known as a sequential model(KATCHEROVSKI, 2012). It provides flexibility for changing requirements of the project. 2 Rigidity(changes cannot be made in the project as per requirements) Flexibility (changes can be made in the project as per requirements) 3 Involvement of stakeholders is not emphasized by this methodology, as it is deliberated as an internal process. This methodology lays emphasis on the involvement of stakeholders, such as participation of customers during the project development(Cren, 2016). 4 It is a Project mindset methodology. It is a Product mindset, methodology. Similarity between Agile methodology and Waterfall methodology Similar technical or development building blocks are used by both methodologies, such as- analysis of requirements, designing capability in order to satisfy requirements, capability building, testing of capability and utilization of capability(Aston, 2017). Waterfall Lifecycle Linking project management with waterfall lifecycle: (Source-https://medium.com/synapse-india/waterfall-model-of-software-development-a-sure-fire-practice-for-your-professional-software-needs-4c8997419800) Agile lifecycle Linking project management with agile lifecycle: (Source- https://www.linkedin.com/pulse/linking-project-management-agile-life-cycle-tomas-flores) Conclusion The methodologies provide guidance to the project manager for effective management of the project. There are a number of methodologies for project management, which can be used for different projects as per the requirements. It is important to choose an appropriate methodology for the particular project as it may lead to the occurrence of least errors. References Koivusalo, E. (2015, 11 2). Essentials of Project Management. Retrieved from www.itforbusiness.org: https://www.itforbusiness.org/article/essentials-of-project-management/ Aston, B. (2017, 3 2). 9 Project Management Methodologies Made Simple: The Complete Guide For Project Managers. Retrieved from www.thedigitalprojectmanager.com: https://www.thedigitalprojectmanager.com/project-management-methodologies-made-simple/ Cren, M. L. (2016, 2 25). Top 13 Project Management Methodologies and Styles. Retrieved from www.blog.azendoo.com: https://blog.azendoo.com/top-project-management-methodologies-and-styles/ HARRIN, E. (2014, 5 18). 4 Benefits of using a Project Management Methodology. Retrieved from www.projectmanagers.net: https://www.projectmanagers.net/i/4-benefits-of-using-a-project-management-methodology/ HEAGNEY, J. (2012). Fundamentals of Project Management. AMACOM. KATCHEROVSKI, V. (2012, 8 23). 5 Effective Project Management Methodologies and When to Use Them. Retrieved from www.explore.easyprojects.net: https://explore.easyprojects.net/blog/project-management-methodologies Lester, A. (2013). Project Management, Planning, and Control. Butterworth-Heinemann.