Chapter 13 - “Analyzing Managerial Decisions: Bagby Copy Company MBA 540 Michelle Wilson August 9, 2015 There are many advantages and disadvantages to specific vs. broad task assignment. Assigning specific tasks to workers allows the company to hire specifically based on the ability of the worker to do a very specific job. In this way efficiency can be increased as a worker should be performing the job that he is comparatively best suited to perform and nothing else. Competition amongst workers can also be increased as there is a specific metric to judge by. The cost of training a worker is also reduced as the worker does not have to be trained in every aspect of the company only what he is going to be doing.
Riordan will pay higher salaries to employees with high-level skillset to attract and maintain employees with these skills. In addition, this strategy will help the organization keep production running smoothly. The company understands it would cost much more in time, resource, and money to keep retraining new employees. Research and development strategy is part of the pride of the company. Riordan regularly creates and uses some of the most innovative processes and procedures to provide customers with the best product possible.
A SWOT analysis can be carried out for a product, place, industry or person. It involves specifying the objective of the business venture or project and identifying the internal and external factors that are favourable and unfavourable to achieving that objective. The business that was displayed on our instruction sheet showed me the percentages of needs of the customer. • 75% want more children’s sandwiches • 82%want the shop to be open longer • 65% said that the staff were unfriendly • 50% said the contents of the sandwiches should be fresher • 80% said that they would prefer more wraps Analysing this information using SWOT there is an explanation for the strengths, weaknesses, opportunities and threats of the business. The strengths of this company is that 82% want the shop to be open longer, that proves the customers enjoy the service that is being supplied.
Over time management concepts have evolved into modern techniques that rely more on listening to and understanding the needs of employees as more businesses realize how much more productive employees can be when they have some control in their team or work environment. I do feel that some leadership decisions can and should be made directly by the leader or manager in charge, as there is not always time available or valid reason to ask opinions or suggestions from the entire group. However, there are a lot of leadership decisions that can be better resolved with input from the people that will be directly affected by the decisions. Providing employees some control over their work situation can provide them with more work satisfaction; keeping employees happy in their workplace will
For a company to retain talent it must offer more incentives for the employees than that of its competitors. Your company encourages the decisions and ideas of the employees but more programs could be put in place to help retain employees. Implementing a program that offers rewards for time and cost savings not only benefits the employee but also the company by projecting a positive image of employee worth to the company. Keeping the companies hiring practice on the national level is required for all employees that work in the retail stores but if there is a need for technology or manufacturing of a particular product I would recommend global labor. The ability to tap into the global labor market will make the company more competitive by being able to offer competitive prices on products due to lower overhead cost associated with the offset in the labor cost.
SRM is beneficial for the companies because it helps the company in leveraging the capabilities of suppliers to its advantage whereas it is beneficial for the supplier because it helps in providing new avenues for creating value and thus, revenues and profitability for the supplier. SRM helps in eradicating weaknesses and errors in the customer supplier relationship and helps suppliers in leveraging their strengths, ideas and assets to create new channels of relationship with the company. Such a system results in greater efficiency because it eradicates weaknesses and errors, helps in optimum utilizing of assets, strengths and capabilities and reduces costs via better collaboration and coordination. Changes in processes and systems helps in improving
The company now will need to add a new layer of employees, the professional management team. Now is also the time to add new partners if wanted. Now is the time that the owner may need to start checking to make sure that everything is in order for the company. The product line starts to stabilize as the business gets into a more day to day routine. Contacts are established for the business and a steadier stream of profit starts to come in.
Its main concern pertains to how the organization will compete with the other companies that provide similar goods and services. Organizations that recruit will have more options when it comes to hiring new employees. Organizations with excellent recruiting practices can also lower employment cost by making sure that new employees know what to expect from the organization, which helps keep employees on board once they are hired. Obtaining a large number of applicants and using great Human resource approach is the key. McDonalds has an overall “Strategic Plan to Win” that gives all business with common foundations for developing ideas to reach this goal (Goldsmith & Carter, 2010).
Tutorial 5 – Attracting and Retaining Staff Tutorial Activity 1: Student Facilitation Activity Questions: Theory: 1. Explain why attraction and retention of employees is important to an organisation. Use examples from the Excellent Research University case (or a related example from your own experience) to demonstrate understanding. Attraction of employees is important because it introduces new workers to a business who may possess great talents. Retention is also important due to the fact that a business would not want to lose these talented individuals since they have contributed greatly to the business.
Sometimes monetary benefits are not as imperative as the ‘Sense of Purpose’ and ‘Emotional Bondage’ workers have with their organizations. Domino’s Strategy Domino’s, on the other hand, is more focused on changing its managerial practices rather increasing minimum wage level of its employees to gain long-term benefits. Firstly, it is intensively focusing on Store Managers’ hiring and training. By increasing their ‘Engagement’ in job they are making them more committed to their work. Secondly, Domino’s is providing flexible time schedules to its employees as a results employees’ ‘Perceived Organizational Support’ toward Domino’s has increased as it is concern about their well-being.