King Company Name Institution King Company Kings Company is a small assembling organization located in upper Midwest City. The company produces quality accessories in the computer industry. It was started in 1994 by Don Dean in Silicon Valley. King Company faces numerous challenges in its business operations including the need to cut its labor costs, and eliminating the adverse impacts of downsizing (Agrawal & Matsa, 2013). Due to declining sales levels, King Company must change the extension and high benefit technique to one of cost control. In this paper, the focus with be analyzing how King Company can cut its labor costs but avoiding loss of jobs. The analysis shows how an up-to-date job analysis information can help the firm’s management to slash its labor costs. Further, the analysis will cover short term and long term consequences of downsizing. Reduce labor costs King Company can reduces it labor costs by using freeze hiring. In free hiring, the employer stops hiring employees for positions that are considered non-essential positions. Such a technique enables the employer to consolidate the current staff and potentially restructure departments to undertake job tasks that are essential for the clients in the firm. However, during the hiring freeze, smart employers continue hiring strategically in areas where the skills are hard to find and for the positions that will immediately create revenue form the firm (Kalev, 2014; Perrett, 2013). The employer
As a Naval Officer I had the opportunity to experience both leadership and management. Today's Navy operates with fewer people and resources than before. Therefore, leadership and management are more important than ever. Very early in my career I was taught leadership and as I advanced through the ranks I experienced management.
The key to the success of any business is the strength of its staff or work force. However, to remain economical, a company's work force must be able to increase efficiency, lower staffing costs, reduce turnover and provide long term growth for the company. In order to achieve all of these goals, a company must have and implement a successful work force planning strategy. This can be difficult as many companies fail to see where there staffing short-comings lie, and therefore can not determine the best strategy for hiring, outsourcing and shifting staff positions. Since each company's staffing needs are different, a successful staffing strategy must have a broad enough outline to be applicable to any company while also being specific enough to accurately address that company's staffing needs. In 2001, Governor David Paterson, the New York State Department of Civil Service and the New York State Governor's Office of Employee Relations published a guide for work force planning for their state agencies titled Our Work Force Matters. This guide provides eight steps for the planning processes along with several strategies and
SALES BUDGET: Budgeted unit sales Selling price per unit Total Sales April 65,000 10 650,000 May 100,000 10 1,000,000 June 50,000 10 500,000
With the Baby Boomers about to retire, the employment philosophy for Gen X and Gen Y is changing as well. It is now fairly common for today’s labor force to change jobs every couple of years, rather than maintain longevity with one company. Turnover costs for many corporations are costly and can drastically affect the financial functioning of an organization. An organization that is successful in reducing their labor costs will be able to enjoy a better profit margin. Strategic planning must be implemented to assess the cost of turnover, build retention strategies, and strategize for anticipated and unforeseen turnover and a shifting labor force culture.
In Chapter 4, we learned about strategic planning, job analysis and methods, what is job design means, and more. This chapter shows us how companies work with their employees, and we will use it not matter if we are working for a small or big company.There were two topics that got my attention. One of them is what companies can do when they have a shortage or surplus of workers.In the book, they talk about training programs and giving layoff. At Dunkin Donuts when they are a lot of workers manager start giving us fewer hours per week. She just gives layoff to those that don’t do their job right or have too many absences without excuses. On the other hand, there are times when the manager is hiring because it is busy in the store such as Black
Leadership and management are two notions that are often used interchangeably. However, these words actually describe two different concepts. Below, I will discuss these differences and explain why both terms are thought to be similar.
The business is growing and it is facing a tight labor market. In a tight job market employers face the growing problem of attracting and retaining the work force necessary for their businesses to grow and thrive. Once the HR
Kaiser Manufacturing Company has been in business for over 50 years using the standard method staffing. Hiring its own employees, training, managing and all human resources issues were all handled in house. The option is now arising to use an employment agency, FSS, to relieve the burden from Kaiser Manufacturing Company. It is important to weigh the advantages and disadvantages of this option before changing the entire business plan Kaiser Manufacturing Company has worked so long. The advantages include, flexible staff numbers, as of current Kaiser Manufacturing Company has a workforce of 725 production workers, 30 clerical workers, 32 engineer and professional
To offset the changing trends of fierce competition, flattened sales, and decreased profits the following analysis will provide the Corporate Cost Reduction Team members with the needed resources and recommendations to make an informed decision in the corporate overhead reduction program. Outsourcing is a hot topic in corporate America. Companies have begun to look at outsourcing of non-core materials and services to achieve substantial cost reductions
The resulting image construction management plan to achieve the fantastic friendship selected to meet the Haigh 's Company met. The revelation will continue to reciprocate the knowledge back and forth strategies to move into the global goals. The pastry shop is located close to all major players and the level of valuable ability. Haigh 's steep produce admirable state and chocolate and are known as literally few suppliers. Therefore, the actions of these brands are provided for chocolate from the same basic level. You must understand the importance and power of differentiation in question the quality of annual production and perception of reputation for the whole loyalty also plays a role in the market. (Smith, 2013)
England’s interest in Africa for trading purposes can be traced back to 1481 when two Englishmen prepared for an expedition to the Guinea Coast. At this time the King of Portugal, John II asked Edward IV of England if they could not continue with the expedition because of Portugal’s claim to the Guinea Coast, and Edward complied. It was not until 1536 when William Hawkins, father of famous shipbuilder in the Elizabethan era Admiral Sir John Hawkins, made the first three voyages and traded with Brazil. Hawkins went back in 1553 to the Gold Coast and sold goods mainly for gold near Elmina on the South Coast of present day Ghana. He then traveled inland to Benin where they obtained pepper and elephant teeth. After losing about two-thirds of
Even though they were growing fast, they faced few problems which include staffing and decrease in sales. Staffing has become a major issue in the company, since there were locations that have buildings but no employees. This problem in hiring the right employees that meets criteria of the
The case study is about Enterprise Rent a Car, which initiated its business in the year 1957 at USA. The company slowly expanded its business and now they have more than 65000 workforce presented. The company is highly depending upon their workforce and to retain them longer, they use to give them training and development with passage of time. Hence, the company also do workforce planning for fulfilling future needs of the workforce.
Management in business is the coordination of people to accomplish set goals efficiently and effectively. It comprises of planning, organising, staffing, leading, and controlling an organisation. Management itself is also an academic discipline, a social science whose object of study is social organisation in order to accomplish a mutual goal.
The definition of ‘management’ is controversial and subject to much debate. There have been many contradictory views on what the term ‘management’ means and accordingly how one should correctly manage an organisation. These theories have been put forward by several highly regarded management scholars over time. By taking into account past knowledge and contemporary views on management, we are able to ‘’explore how thinking has changed through time’’. (Brooks, 2006). Moreover, businesses have, and can continue to be able to adapt these theories and put them into practice. Successfully applying correct management practices is especially vital in a global business environment which is becoming very competitive. ‘’Most management theories, even those that do not resonate comfortably with the prevailing mood, have attractive and valid elements to them.’’ (Robinson, 2005). For example, some of these theories can be seen flourishing in fast food chains like McDonalds.