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Precision Chem-Dry

Decent Essays

To be successful in business and in the current rapidly changing world, organizations need to maximize productivity of all available resources to include, financial, information physical and human (Rouda, Kusy, 1995). At this current time, it is known that Precision Chem-Dry has a management problem in regards to both finances and resources, for this purpose, a needs assessment will be accomplished to understand why things are the way they are and how they instead should be. By completing a needs assessment of Precision Chem-Dry, a better understanding of the organizations current and ideal future state will be identified, ultimately moving the organization forward to deal with its current management problem and closing the gap between the …show more content…

In the case of Precision Chem-Dry the current state focus should be around pulling themselves out of their current financial situation and addressing the issues that have led to their poor resource and financial management problems. First, Precision Chem-Dry’s level of education when it comes to its owners and technicians may be considered sub-par to that of its competition, they have great training when it comes to cleaning carpets as this is identified by the 5 star master technician certification on their website, but lack the advanced accounting and customer skills needed to manage costs and its customers (Precision Chem-Dry, 2016). Next, Precision Chem-Dry currently has the required equipment to clean carpets, but that equipment is outdated and may be …show more content…

As mentioned above education is one key factor that is needed, both owners and technicians can benefit from additional professional development training which could put the organization in a better place to succeeded because it has the potential to increase collective knowledge of an organization, enhance a company’s reputation and make employees feel satisfied (Half, 2015). Following education, Precision Chem-Dry needs to lay out a financial cash strategy that will put them back on track because if cash is not properly managed the business will continue to go under and the necessary upgrades to equipment may never happen (Anthony, n.d.). Finally, to increase capital from a current loss state, Precision Chem-Dry needs to build social capital. In business social capital is just as important as monetary capital because it can be used for the production of wealth and in the case of Precision Chem-Dry used to earn new business and keep existing ones, ultimately leading the organization to increase revenue and pull themselves from debt (Misner,

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