Fastcat Phase 1

4319 WordsFeb 14, 201318 Pages
Wage Determination & Administration FASTCAT PHASE –I Submitted by Group 20 (HRM-B) Honeydeep Singh Sabharwal H11080 Neha Londhe H11092 Rahul Balyan H11103 Rahul Krishnan H11104 TwisamDatta H11116 1 Executive Summary We recommend an egalitarian, flexible internal structure to achieve objectives. A set of compensable factors are identified and weighted as per the strategy of the company. Special emphasis is on taking forward the core competency of FastCat which is providing superior quality software with high degree of customization and innovation. In order to do so, we have divided the jobs into four job families:     Support Technical Marketing and Sales Managerial We propose a job-based plan with point system for the above…show more content…
These can be defined as follows: 1. Increasing Revenue Growth The company is losing its customers who are not in a sound position to buy its expensive software due to the poor financial environment and this is causing a fall in revenues. The company can rekindle their revenue growth by adopting the following approaches: Tap the high-growth, underserved industries such as financial services, health care and insurance. The companies in these industries are likely to purchase their software solutions. Offer more flexible products which would enable the companies to buy the products either as separate components or complete enterprise solutions. This way the company can target new customers with different needs and affordability constraints. Drill down on the company’s existing customer base by extending the use of its software among the current users. Maintaining and building up on one of its prime competitive advantages of being able to serve customers across the globe, a versatile move that none of its competitors have been able to match so far. FastCat can use this to increase its customer base and thus grow its revenues. 2. Maintain the Quality Reputation Over the years the company has developed a reputation for supplying high quality, reliable and technologically sound products. In this time of slow economic growth FastCat needs to ensure that it does not strive to lower its costs or raise its revenues in a manner that hampers the quality of the products that it offers
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