what alternative)?a used to decide among choices. What should be the outcome of the choice process (i.e. what alternative)?Give examples of some of the criteria used to decide among choices. What should be the outcome of the choice process (i.e. what alternative)?d choice of program alternatives.
It would also guarantee that employees make well above poverty levels to insure that more money is being put back into the economy (Eric Roston). This causes the system to plummet and forces companies to downsize to keep from going under. Wall Street firms cut positions in order to bring the Dow Jones Security ... ... middle of paper ... ...ortunities for growth and skill development. After a restructure, there are many ways an employee can grow vertically and horizontally within their company. Since so many positions are eliminated in such a process, the remaining employees sometimes need to learn new skills and adapt to handling greater amounts of work than ever before.
The reasons for corporate downsizing are presented in many forms. Some companies downsize due to technological changes such as automation, which brings about the need for a reduction in the production workforce. Others may feel that competitiveness with other companies warrants the need for a reduction in the workforce. Financial setbacks due to customer demand, market shares, and loss of revenue could also initiate the need for downsizing. When will it end?
Throughout this paper we will discuss the issues of retention and bring to light how much money not retaining employees can cost a company. Additionally we will explore what drives attrition and how to over come those issues, so that a company can retain its employees and cut operating costs. Attrition has and probably always will be that elephant in the room at every organization. It not only cost the company money, but it also detracts a lot of promising potential if there is a negative reputation for a company. Attrition is so important to keep down for a couple reasons; obviously cost is the main reason.
I will inform you of what they are doing and how they justify their actions. Downsizing Downsizing is a major issue within corporate America today. Almost daily another company is downsizing their staff. The interesting part about this is that downsizing as a word makes it appear that the company is actually getting smaller or losing business when in reality that has nothing to do with it (Lurie, http://www.geocities.com/WallStreet/Exchange/4280/ch3.htm). Downsizing today has become synonymous with layoff.
The organizations lack of adapting to new technology and their absorbent overhead was threatening their profitability. The organization was faced with the need to restructure, consolidate, and implement employee layoffs in order to remain competitive with the current financial climate. Rumors of impending office consolidations and staff layoffs had existed for some time. However, the CEO commentary in a Financial Times article confirmed such gossip. In fact, decisions had already been made by top management to enact a structural plan that would severely curtail offices, close offices, and reduce the level of employees across the organization.
Company X Problem Analysis Through extensive analysis from the customer satisfaction surveys, and research from the satisfaction task force, Company X found three major problems areas. The company's programs reflect poor quality, the development times are taking longer than the projected due dates and a small portion of employees are discrediting the company name and values. Each of these problems has contributed to the main problem; the increasing rate at which Company X is losing customers and revenue. Defining problem and goals Customers do not want to buy a product that is defective. Through thorough analysis, Company X has attributed the poor quality of its programs as a reason why customers are dissatisfied and seeking other vendors.
High overhead expenses are particularly challenging because they are persistent. These expenses affect your cash flow every day until the problem is corrected. Solution The solution to this problem is simple, but it is not easy. Audit your expenses and cut back where you can. Be careful not to cut too much, as that approach could also hurt the company.
One of the largest problems the accounting firm has is that they do not pay the competitive wage for what is expected of staff accountants. The company is losing a lot of potential job candidates with the wages they are offering. In order to create longevity for the firm the entire compensation package needs to be analyzed and restructured. WHB&D would benefit from compensation restructuring because they would help increase their likelihood of getting high quality new hires. It no longer can just work for the employees that currently work there, goals must be created for what the future of the firm will look like.
Nutt concluded that much time and money was therefore wasted on these unsuccessful decisions. So during what part of the decision making process did these top-level managers go wrong? In general, many managers often rush to a decision and stick by it, even when it continues to fail. Another cause of unsuccessful decisions is that the managers did not include those most affected by the outcome in the decision mak... ... middle of paper ... ...n decisions, often increasing the chance of success. Unfortunately, most executives don't use this strategy in their decision process.