Summary
The work was carried out in its first phase as evaluative research, because the information referring to the diagnosis of the current situation was collected and analyzed, through documentary reviews, surveys and a tour of the process areas, obtaining as a result that 86 % of those surveyed consider that there is no investment management system which should be designed and integrated into the company's business management system, which would facilitate the work as there are procedures that guide specialists. For the design and implementation of the Quality Management System for the investment process, the purpose of this work is to propose stages by applying the evaluative parameters of the standards: ISO 9000, ISO 9001,The Delphi Method based on the criteria of experts was applied in order to consult and determine by statistical analysis whether there is consensus or not on the proposed proposal, obtaining its acceptance.
Key Words: Investment Management System, integrated business management system.
Introduction
Currently, entities are facing a competitive world, where there are new technologies that surprise day by day, the survival of companies in an environment of continuous and dizzying changes, mainly depends on their ability to adapt and their ability to face the increased intensity and diversity of competition.
The achievement of success, therefore, forces them to keep constantly adapting to variations in the environment; that is why organizations must define their strategies and incorporate, within their administrative process, the management tools that guarantee their materialization, work through a process of continuous improvement and implement standardized standards to achieve the maximum quality of the products or services that offer. The full collaboration of all the personnel of the organization or company is important, so that the service performed is effective and that in this way excellent results are obtained for the company.
Among the services provided by the Camagüey Fuel Trading Company is that of investments to internal customers.
In this sense, it is necessary to propose stages for the design and implementation of an adequate investment management system that is part of the integrated management system implemented in the company under study.
Course objective: To propose stages to design the Investment Management System of the Fuel Trading Company Camagüey.
The research methods were historical-logical analysis, analysis and synthesis; the hypothetical - deductive method, observation, documentary review. Expert criteria.
As a direct result of this research, a methodological design for the Quality Management System (SCG) in the company's Investments is proposed.
2. Work Results
The proposal of an investment management system for the company contributes to obtaining valid results to obtain a future profit and to the integration of this system itself with the requirements of the integrated management system implemented and certified in the company under study, but for this It is necessary to reflect on some basic concepts related to this topic.
2.1 Development of the methodology for the diagnosis and evaluation of the Investment Management System
For the diagnosis of the investment management system, information was collected through the following activities:
- Review of the documentation of the UEB Investments and the ECCMG related to the processes and verification of their application and implementation. Survey of the workers (Including the Director of the UEB Investments and other managers of the ECCMG). Tour of the areas to achieve familiarization. with the service processes.
The following criteria were used:
- NC ISO 9001: 2008. Quality management systems-Requirements. General procedures of the Integrated Management System of the ECCMG ü Decree No. 281/07. Implementation and Consolidation Regulation of the SDGEE.CC-RH / M 2002: Manual for the Integrated Management of Human Capital. Resolution 60/11 of the Office of the Comptroller General of the Republic. Internal Control System Standards.
The applied survey is considered closed questions, having the possibility of selecting between four options in each question. Due to the specificities of the investigation they are applied to intentional samples.
At the end, an open-ended question is asked to present your personal analysis and assessment.
The first question was aimed at evaluating expressions about the investment management system and the current characteristics of professionals in the area at the Comercializadora Combustibles Camagüey. The expert is shown a group of expressions. You must mark X in CA if you completely agree, in A if you agree, in D if you disagree and finally in DT if you totally disagree. (Overall result obtained).
In this first question, 86% of the respondents consider that the way investments are managed is not efficient, and they also consider that an investment management system should be designed and integrated into the company's business management system, which would facilitate work as there are procedures that guide specialists.
The second question was aimed at making suggestions in case you disagree with the expressions.
As a result of the diagnosis it was obtained:
- It is necessary to define the investment management system and integrate it into the business management system. The responsibilities of the UEB de Inversiones staff are not declared. The necessary resources for the service are not declared. The communication processes within the Investment UEB. ü It is not documented how the contracts with suppliers are reviewed ü It is not clear how the relationship with suppliers and their representatives is. The competencies defined for the staff of the UEB of Investments are insufficient. There are no procedures to identify training needs. of staff and how it is provided.
The Investment Management System that is planned to design and implement in the organization takes as its premise:
- Design and implement an Investment Management System in the Investment UEB in correspondence with the requirements of the Cuban Standard NC ISO 9001: 2008.
Quality management systems-Requirements and in accordance with the requirements of the Integrated Management System implemented and certified in the Fuel Trading Company of Camagüey.
- Constitute the Investment Management System as a guiding document that allows the Investment UEB the possibility of achieving a design appropriate to its interests, even if it requires complying with the general, common, specific, and legal requirements of the interested parties. facilitate decision-making and the ability to react by management, by having a clearer vision of the Investment Management System and that it focuses on the fulfillment of the objectives. Be established as a permanent reference for all workers in the Investment UEB for the application and compliance of the Integrated Management System.
It is necessary to establish a detailed program in stages for better organization and achievement of the proposed objective, based on the system approach to management.
The proposed stages to consider are the following:
- 1st stage - Analysis 2nd stage - Design 3rd stage - Training 4th stage - Implementation 5th stage - Evaluation 6th stage - Redefinition 7th stage - Certification
The experimental entity has the advantage that it is certified in the Integrated Management System, giving the opportunity that when determining the design for the subsequent implementation of the QMS in Investments, all the implemented documentation is taken as the basis.
I Analysis
In order to analyze the situation of the investment process, it is necessary to carry out a diagnosis. To do this, the existing documentation must be reviewed, whether it be procedures or findings detected in audits, surveys and interviews of managers and workers in the areas related to the subject must be carried out, as well as going through the different areas involved in the process.
II. Design of the documentary system
As established by the NC ISO 9001: 2008 standard. Quality management systems-Requirements a system should not be oversized, it should be designed according to the characteristics of the company, its objectives, production or services, especially the relationship between supplier-customer.
According to the characteristics of the entity under study, where there are technical and human resources (with computer systems, state-of-the-art computers and constant improvement), the following is proposed as a design proposal for the Quality Management System for Investments structure, based on the previous work carried out for the certification of the SGC and the integration of the already certified Safety and Environment Systems:
- Review documentation on the diagnosis of the organization and structure of the company, carried out by the quality specialist and the consulting team. Be part of the work team made up of the management representative and external consultants to set the stages of the project. Approval of the model Write and adapt existing documentation.
- Investment policy and objectives. Manual of the Investment Management System. General and specific procedures. Identification and documentation of the Investment process. Investment Records.
III. Training
Staff training is essential to achieve the objectives and goals proposed; therefore, the preparation is suggested through training courses for technicians, specialists and managerial personnel on the SGC in Investments and a seminar for investment personnel (operators).
IV. Implantation
The implementation process is carried out in compliance with the established steps:
- Approval in the Board of Directors of the entity, the documentation prepared and appropriate to the new system. Disclosure of the documentation to the entire organization in digital form and its format (PDF) so that it is not modified by unauthorized personnel.
V. Evaluation
It is carried out by competent personnel empowered as external auditors, who assess the level of adequacy and implementation of the system.
SAW. Redefinition and adaptation
We proceed to resolve the deficiencies found, implement the best proposals for the adequacy of the new structure of the Investment Management System and its subsequent deployment and implementation.
VII. Certification
The certification of the system is requested by the company once the objective conditions have been created, fundamentally eradicating the deficiencies during the evaluation.
2.2 Application of the expert criteria method or Delphi to evaluate proposed stages
A task of the research that is carried out is to know, through the analysis of the experts' criteria, the acceptance of the proposal put forward for the design of the QMS in investments.
It is applied for the interest of obtaining the benefits of direct interaction through the expert method and eliminating its drawbacks, given the possible existence of multicriteria on the proposal.
The existing conditions for choosing this method are:
- Perspective of planning and implementation of a new system that guarantees organization security and customer satisfaction. Interest in applying the ISO family of standards for effective and efficient management by the entity. Development of investment management it is held back by the priority given to the rest of the business management regardless of the existing economic situation.
To determine the consensus among the experts, Kendall's coefficient of concordance technique is selected, which is useful to determine the degree of agreement between several judges.
The Kendall technique has two phases:
Phase 1: Determination of the evaluation criteria.
Phase 2: Determination of importance.
Steps for the application of the Kendall statistician.
Step 1: Definition of the problem Step 2: Selection of experts.
Step 3: Define the criteria.
Step 4: Ask about the order of importance.
Step 5: Prepare the Criterion Matrix - Experts
Step 6: Calculate the Σ of the criteria, the arithmetic mean and the mean deviation (S) Step 7: Establish a hypothesis test.
Definition of the problem
The Investment Management System is not elaborated in the entity. It is necessary to design a QMS in investments that meets the entity's expectations according to ISO 9000 standards.
Selection of experts
For the elaboration of this step it is necessary to take into account criteria defined in the consulted bibliography, where it is stated that the number of experts should be between 7 and 30, not greater because the level of confidence does not increase, and the number of criteria (C) It must be less than the number of experts.
Stages:
1. Determination of the number of experts
The maximum number of specialists who are 9 and the minimum number of 7 that must participate were selected, providing these figures the level of maximum and minimum reliability of the expertise.
2. Preparation of the list of experts
For the preparation of the list, an analysis was made of each of them, as well as their workplace and real possibility of participation.
Later, an invitation letter was sent to the experts stating:
- Objective of conducting the surveys. Term and order of execution. Total volume of work. Personal data of interest. Survey on competition.
Determination of the competence of the experts.
where:
Kc - coefficient of knowledge or information of the expert on the problem, calculated on the assessment of the expert himself on a scale of 0 to 10 and multiplied by 0.1 in this way, evaluation 0 indicates that the expert has absolutely no knowledge of the problem corresponding, while evaluation 10 means that the expert has full knowledge of the problem addressed. Between these two extreme evaluations there are nine intermediate ones, the expert must mark with a cross in the box that he considers pertinent.
Ka - coefficient of argumentation or justification of the expert.
From here the Knowledge or Information Coefficient (Kc) is calculated, using the following formula:
Kc = n (0.1)
Where:
Kc: Knowledge or Information Coefficient
n: scale selected by the expert
The researcher requests to carry out a self-assessment of the levels of argumentation or justification on the subject under study, in a blank table marking with an X, his consideration.
In order to calculate the coefficient of argumentation or justification of each expert, it is necessary to use the factors that appear in a standard table as factors.
From the standard table and the self-assessment carried out by the experts, the argumentation coefficient (Ka) of each expert is calculated:
Ka = a ni = (n1 + n2 + n3 + n4 + n5 + n6)
Where:
Ka: argumentation coefficient ni: value corresponding to the argumentation source i (1 to 6)
Calculation of the coefficient of competition through the equation.
The code of interpretation of such coefficients of competencies is as follows:
If 0.8 ≤ K ≤ 1.0 high proficiency coefficient.
If 0.5 ≤ K ≤ 0.8 average proficiency coefficient.
If K ≤ 0.5 proficiency coefficient under Criteria definition.
There are three alternatives to define criteria, the one selected for research is by consensus with preliminary identification, by preliminary knowledge of the stages proposed for the design.
Preparation of survey.
- The applied survey is considered closed questions, with the expert being able to select 1 of two options in each question. At the end of each question, an open question is asked to present his / her analysis and personal assessment.
The first question was directed to say what would be the stages for the design of the SGC in investments in the Comercializadora de Combustibles Camagüey.
In this first question 5 of the 8 experts in the team consider that the proposed stages are those necessary for the design of the investment management system, experts 5 and 6 consider that the Evaluation stage should not be included since there are auditors in the entity interns and the expert 6 consider that the training stage should not be included because technical and managerial personnel know of the current documentation, with only transformations; When analyzing this result, a consensus is reached that both stages should be included, not requiring a second round.
The second question was aimed at determining whether the related descriptions at each stage should be considered.
As a result of this question, it was obtained that all the experts agreed that these should be the steps to consider in the design of the QMS in Investments.
Ask about the order of priority.
The last question to each of the experts is about the sequence that must be followed according to their criteria to design the investment management system.
This question was intended to give a logical order to the development of the stages to obtain an efficient investment management system that would respond to the needs of the company; 75 percent of experts agreed that the first stage to be developed was the analysis stage, since it was possible to know the situation in which the process was. In a second moment the management system would be designed and in a third stage the workers would be trained; 63 percent of the experts coincide in this order; As a fourth stage, six of the eight experts consider that it should be the implementation and then evaluate the design by the competent bodies, modify according to deficiencies found, and finally certify the system.
Due to the degree of homogeneity given in the responses obtained in the first round of the surveys, it was not necessary to carry out additional rounds.
Prepare the Criterion Matrix - Experts.
Application of the expert method treated by the statistician Kendall W.
In the Kendall statistician the coefficient W offers the value of the level of agreement between experts.
W - ranges from 0 to 1
where: 1 - total agreement 0 - total disagreement
The coefficient of agreement is defined in the development of the chapter.
1.- The problem to deal with, in this case about the stages.
2.- Identify the number of experts that are (8).
3.- Identify the criteria in this case are stages (7).
4.- Solve the matrix.
5.- Determining the Kendall concordance coefficient, if w, is significantly different from 0 depends on the size of C, which are the criteria consulted in the bibliography where it is stated that when C ≤ 7, the mean deviation is calculated, (S) which it is compared with the Sα, of critical values of S for the Kendall's agreement test.
Calculate the Σ of the criteria, the arithmetic mean and the mean deviation (S).
The table shows the matrix of the results in the order of importance of the stages.
| E / C | C1 | C2 | C3 | C4 | C5 | C6 | C7 | ||
| E1 | one | two | 3 | 4 | 5 | 6 | 7 | ||
| E2 | one | two | 3 | 4 | 5 | 6 | 7 | ||
| E3 | one | 3 | two | 4 | 5 | 6 | 7 | ||
| E4 | two | one | 3 | 4 | 6 | 7 | 5 | ||
| E5 | one | two | 3 | 4 | 5 | 6 | 7 | ||
| E6 | one | two | 7 | 6 | 3 | 4 | 5 | ||
| E7 | two | 3 | one | 4 | 5 | 6 | 7 | ||
| E8 | one | two | 3 | 4 | 5 | 6 | 7 | Summation | Half |
| ∑EC | 10 | 17 | 25 | 3. 4 | 39 | 47 | 52 | 224 | 32 |
| DM | -22 | -fifteen | -7 | two | 7 | fifteen | twenty | ||
| DM2 | 484 | 225 | 49 | 4 | 49 | 225 | 400 | 1436 |
- Experts (E). - Criteria (C).
C1 - Analysis
C2 - System design
C3 - Training
C4 - Implementation
C5 - Evaluation
C6 - Redefinition
C7 - Certification
Equations used to make the matrix:
Mean deviation (DM).
12
Calculating W we have as a result:
DM 2
W 1
E 2 C 3 C
1436 1436
W 0.80
(8) 2 (73 7) 1792
Establish a hypothesis test.
Test whether or not there is indeed a match.
Ho: There is no concordance
H1: There is agreement
For small samples (N ≤ 7)
Critical Region: S> Sα (see table of critical values for α = 0.05)
S = 1436N = 7
S0.05 = 453.1 (We search with the number of experts that is M and the number of criteria that is N for α = 0.05).
1436> 453.1; therefore there is evidence to reject Ho, therefore there is agreement.
Conclusion of the test.
It is defined with the applied method that there is agreement between the experts on the proposed criteria, therefore the same 7 stages are conceived for the SGC in investments in the Comercializadora Combustibles.
With the implementation of the Management System the organization obtains as benefits:
- Raise the level of knowledge of the Directors on the management of investments. Raise the level of analysis in the councils on the behavior of the indicators established in the activity. Take actions that respond to the difficulties that arise during the programming and execution of the works. Making correct decisions on the variation of the budgets, must be previously consulted with the personnel of the area with knowledge of the subject.
2.3 Design and implementation of the Investment Management System
The stages for the design were defined through group work where the members had an average of fifteen years of work experience, had a university level and analytical capacity, most of whom have participated in designs and implementation in other management systems, are proficient of the business management systems, are proficient in investments, participate in internal audits, show willingness to carry out the investigation and, above all, were able to offer conclusive evaluations of the problem in question and make recommendations regarding its fundamental moments.
The UEB Investments has the approval of senior management to design and implement the Investment Management System following certain existing requirements, and it also has the duty to integrate it into the Integrated Management System implemented in the entity. To achieve this, the following actions have been planned:
- Analyze the results of audits carried out as the primary source for the design of the investment management system. Design the documentation tree of the investment quality management system. Prepare the manual of the investment quality management system. Train managers and workers on the investment management system. ü Program the implementation of the investment management system. Program the evaluation of the investment management system by the evaluating entities. Program the solution to disagreements found by the evaluating entities. Program the certification of the investment management system once evaluated by the evaluating entities.
All of which is obtained by complying with the stages defined as the final result of the expert work carried out using statistical techniques and methods.
The content of the stages are set out below as a result of this research work.
Stage I Analysis
A study was carried out to find out the situation that the company presents in the investments, which situation it presents with the technical resources, how the relationships with the suppliers flow, the forms and conditions of payment for the purchases of goods or services received, thus As the level of preparation and knowledge that managers and specialists who work on the subject possess, they should be reviewed and analyzed:
- Contracts with suppliers Situation statements Income statements Investment statements Performance evaluations of technical personnel
Stage II Design
Drafting investment policies and objectives for this should:
- Prepare the Investment Management Manual in correspondence with the NC ISO 9001: 2008 quality management systems-Requirements which follows as logical order introduction, scope, normative references, terms and definitions, model of the investment management system, management responsibility, common requirements, requirements matrix and documentation tree, Prepare general and specific procedures that define objectives, scope, references, responsibility and development.
Stage III Training
The teaching of courses, workshops, seminars or other forms of training that allow managers, specialists and technicians to broaden their knowledge of the investments that are carried out in the entity, master the regulations that are implemented, must coordinate with the Human Capital Department. to achieve compliance and therefore continuous improvement.
Stage IV Implementation
Once the necessary documentation regulating the operation of the investments according to the characteristics of the entity has been prepared, it must be approved by the entity's Board of Directors for its validity; The date, approval number and number of the minutes of the board of directors in which it was approved must be reflected, and it must also be signed by the members of the board of directors involved in the investments.
The approved documentation will be saved in PDF format for your protection and exposed in the SIGE document management system to facilitate the knowledge and easy access of all the workers.
Stage V Evaluation
Competent and empowered external personnel must be hired for the purpose of receiving an evaluation of the work performed, where the auditor will perform a documentary review and the evaluation of compliance with the requirements of the management system, standards, legal and regulatory, among others, such as the level of adaptation and implementation.
Stage VI Redefinition
If there are signs in the evaluation stage, they will be eradicated, establishing an improvement for the adaptation of the new structure of the Investment Management System implemented in the entity, a modification that must be approved again by the entity's board of directors. with all the requirements set forth in the implementation stage.
Stage VII Certification
After eradicating the disagreements detected by the external auditor and therefore the objective conditions have been created, the entity will request the certification of the investment management system for which there must be written evidence.
3. Conclusions
The need for the implementation of the Investment Management System was demonstrated in an integrated manner with the other components of the Management System of the Cupet Camagüey company thanks to the application of the evaluation and diagnosis methodology which allowed evaluating the current situation in which is the same.
The CUPET Company's Investment Management System proposal satisfies the technical requirements of its preparation and allows the company's management to further integrate the entity's management.
4. Bibliographic references
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Cuba, National Standardization Office. (2005). NC ISO 9000: 2005 Quality Management System. Foundations and Vocabularies. Havana, Cuba: ONN
Cuba, National Standardization Office. (2008). NC ISO 9001: 2008 Quality Management System-Requirements. Havana, Cuba: ONN.
Cuba, National Standardization Office. (2009). NC ISO 9004: 2009 Management for the sustained success of an organization. Havana, Cuba: ONN.
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Waterman, R. (1988). How to maintain excellence? Barcelona, Spain: Norma Editions.
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