Question caseThe Future Company is considered one of the largest companies in theEastern Province of the Kingdom of Saudi Arabia, where the companyworks in the field of importing various types of electrical appliances suchas (air conditioners, televisions, refrigerators, washing machines) and thenumber of employees in the company is about 1200 in various branchesof the company (administrators, engineers and workers), and thecompany was characterized by its outstanding performance and profitduring the past years, but in the last year the senior management noticeda decrease in profits in general in addition to a decrease in theperformance levels of employees, and accordingly the company decidedto assign a study team to find out the reasons for this decline Andidentifying the main reasons that caused the decline in profits and thedecline in performance in the last year, and the study team began tointerview a sample of employees at various job levels in the company toexplore their opinions in an attempt to find out whether there are tangiblereasons on the ground that can be identified and addressed effectively.And radical.After completing the study, the team concluded three main reasons thatled to the decline in performance, and they were as follows:First: There is no clear plan that defines the activities, tasks andprocedures accurately in the various departments of the company.Second: At the beginning of the year, a number of errors occurred in theimport operations and the delivery of products was delayed, and theproblem was not addressed until the end of the year.Third: The administration has suspended all bonuses, incentives, andmaterial and moral rewards for all employees without giving reasonssince the beginning of the year.Required: If you are one of the managers in the senior management ofthe company, and through your study of the principles of managementcourse 1, how do you deal with each of the three previous reasons withclarification and explanation?First: The first reason is the lack of a plan.Second: The second reason is the occurrence of errors and theirtreatment and discovery at the end of the year.Third: The reason for stopping the incentives and bonuses.Each reason must be answered separately with clarification andexplanation.

For managers, detailed comprehension of management principles is crucial since they serve as a set…

Answered: Required: If you are one of the…

Understanding Business

12th Edition

ISBN:9781259929434

Author:William Nickels

Publisher:William Nickels

Chapter1: Taking Risks And Making Profits Within The Dynamic Business Environment

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Required: If you are one of the managers in the senior management of he company, and through your study of the principles of management course 1, how do you deal with each of the three previous reasons with Clarification and explanation?