Assignment: This week you learned about the importance of ROI in a business approach to evaluation. Using the internet, do a s
Assignment:
This week you learned about the importance of ROI in a business approach to evaluation. Using the internet, do a search for organizations that utilize ROI in their business approach. Once you have chosen the organization.
· Analyze the use of ROI and the impact that it has within the organization.
· In addition, argue the continued need for ROI to be used within the organization.
· Furthermore, assess how technology has impacted the use of ROI and predict the changes that may occur in the future.
· Write at least 2-3 pages
· Microsoft Word in APA style.
· Use font size 12 and 1” margins.
Week 5 Assignment
Business of Program Evaluation: ROI
The process for measuring return on investment (ROI) is a comprehensive, systematic methodology that includes defining the types of data, conducting an initial analysis, developing objectives, forecasting value (including ROI), using the ROI process model, and implementing and sustaining the process. This chapter presents a business approach to evaluation using ROI. We begin with a discussion of why a business approach to evaluation is needed. Then we explain why and how the ROI process can help business achieve the level of accountability demanded in today’s economic climate for both public and private settings.
WHY A BUSINESS APPROACH?
“Show me the money.” There is nothing new about the statement, especially in business. Organizations of all types want value for their investments, and the ultimate value is the financial return on that investment. What’s new is the method that organizations use. While ROI is the ultimate report of value, organization leaders recognize that value lies in the eye of the beholder; therefore, the method used to show the money must also show the value as perceived by all stakeholders.
Measuring ROI represents the newest value statement. In the past, program or project success was measured by activity: number of people involved, money spent, hours involved, and so forth. Today the value definition has shifted: value is defined by results versus activity.
Mosele, J. & Dessinger, J. (2009). Handbook of Improving Performance in the Workplace. (Volume 3). Pfeiffer-Wiley
To prepare for this Discussion, pay particular attention to the following Learning Resources:
· Review this week’s Learning Resources, especially:
· Read Week 5 Lecture – See Word doc .
· Read Chapter 13-14 – See Word doc
Assignment:
This week you learned about the importance of ROI in a business approach to evaluation. Using the internet, do a search for organizations that utilize ROI in their business approach. Once you have chosen the organization.
· Analyze the use of ROI and the impact that it has within the organization.
· In addition, argue the continued need for ROI to be used within the organization.
· Furthermore, assess how technology has impacted the use of ROI and predict the changes that may occur in the future.
· Write at least 2-3 pages
· Microsoft Word in APA style.
· Use font size 12 and 1” margins.
· Include cover page and reference page.
· Use at least three references from outside the course material
· One reference must be from Text book, lectures, and other materials in the course may be used, but are not counted toward the three reference requirement.
,
Evaluating Results and Benefits – Week #5 Lecture 1
Improving HPT
Welcome to Week 5. I hope you are enjoying the course and are applying your learning to your workplace. This week we dive deeper into the learning of ROI and how evaluation can improve human performance technology. As you know, ROI stands for the return on investment. This is used to determine the worth of programs within your workplace. However, what some don’t realize is that this is one of the most important tools you can you to gauge success within the workplace. On the other hand, some want to take ROI to the extreme and end up wasting time, energy, and money trying to prove a value. Doug Scudder (2013) states that “If you can’t prove the ROI for something, maybe it is pointless or maybe it just isn’t being utilized properly. If your couch isn’t providing a return on the investment your company made in it, maybe you should be meeting with more clients in person to build a better rapport. If your Facebook page isn’t driving traffic/leads/customers to your website, it isn’t because Facebook isn’t a good place for you to find a targeted audience. It is because you aren’t properly leveraging your brand’s social media presence. Data won’t ever do your thinking for you, it is just an important tool that you should be using regularly.” This is great advice to go by as time wasted can be just as detrimental as money wasted. In regards to ROI being managed properly, it is important to consider how this can be achieved. Tracking items that are going to be considered in factoring ROI can be beneficial. Tracking can save time and money. Those involved in the process should look at all parts involved in the research process. Taking the time to look deeper into what is involved will help benefit the process long-term. As technology evolves, the need for evaluation occurs. This is not just for the employees, but for the workplace processes, as well. With that said, ROI has become a topic of conversation as some feel that due to technological improvements, ROI is extinct. While others feel that ROI is just getting started in its important role. Today, technological implementation focuses on the value creation for the business as a whole. As the economy continues to change, procedures need to be evaluated to ensure that they are current and productive. Therefore, ROI is examined to determine its current worth. There is no right or wrong answer to whether or not ROI still has a place as this will vary by organization. Consider your current workplace and think about whether you feel this could still benefit your organization. Now, with the growing use of technology having been discussed, let’s consider what technology has done to trust. Some might feel that technology has changed business so much that trust is no longer existent. Others might say the opposite stating that technology has created more solid bonds. However, what it comes down to is what role does ROI has in building trust. Does it? Good question and again, one that might vary depending on who you ask. Nonetheless, consider how you shop today. I know that when I consider a purchase, I utilize the internet to research. I check for reviews, I compare prices, and I evaluate the pros and cons of the item I intend to purchase. Technology at my fingertips has allowed me to adjust the way I shop, and in many instances, saves me money. Remember that ROI is going to be your return on investment. If you are not seeing a return, there is something wrong with the plan in place. Consider what can be done to evaluate your return today and utilize the technology available to do this. Customer review sites, review forums on the company’s website, review forums on the manufacturer's website, etc. These are all ways that consumers are shopping today. People are information hungry and they are also money savvy. They want quality and affordability. Therefore, consider the best options necessary to reach the customer base. By doing so, you will find that your return on investment proves successful. If not, you should have the understanding and tools necessary to make the changes needed to ensure success overall. Resources: Scudder, D. (2013) “ROI Isn’t Everything; It Is the Only Thing” Retrieved online from: https://www.randallreilly.com/roi-isnt-everything-it-is-the-only-thing/
Collepals.com Plagiarism Free Papers
Are you looking for custom essay writing service or even dissertation writing services? Just request for our write my paper service, and we'll match you with the best essay writer in your subject! With an exceptional team of professional academic experts in a wide range of subjects, we can guarantee you an unrivaled quality of custom-written papers.
Get ZERO PLAGIARISM, HUMAN WRITTEN ESSAYS
Why Hire Collepals.com writers to do your paper?
Quality- We are experienced and have access to ample research materials.
We write plagiarism Free Content
Confidential- We never share or sell your personal information to third parties.
Support-Chat with us today! We are always waiting to answer all your questions.
