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The main purpose for this assignment is to analyse an assigned case study, explaining the issues/problems through theories/models covered in lectures. Based on literature, this report will produce recommendations on how encountering these problems can be deciphered.
The following case study examines the problematic predicament in which is currently occurring within the company in the perspectives of the directors of Consolidated Global Mining Services: the directors are discussing as to by what methods can be considered in the midst of their complication in regards to clarifications to accumulative cash flow in addition to other financial solutions without the procedure of dismissal of their employees in sustaining the company’s financial calamity.
There are two strategies in regards to producing a solution to the following issues in which consist of a lack of understanding as to what every employee’s field of work is situated with the use of technology and also developing the belief that individual employee performances are implicated for firm-level outcomes acknowledging that lack of performance culture increase of influence turnover of losing their employees to another competition. The business’s complication is problematic in regards to figuring out a solution as to how they can increase cash flow without reducing human capital.
The following sections will be described in more detail:
- Technology is ideal in regards to improving communication throughout the organisation.
- The importance of performance culture within the organisation can reap benefits.
- Possible solutions to what the organisation can do about the problematic complication in regards to the future of the business.
- Recommendation for the company for an acclaimed approach
Acknowledging the company to be a successful organisation for countless of years, despite the time invested into the business, it is believed that no one in the firm knew exactly what every employee was doing in the midst of everyone’s professional success. Recognising the establishment was overstaffed, however being overstaffed is not the issue, it was the fact that no one in the firm knew where everyone working within the organisation’s area of profession in which they are situated.
Technology in the workplace allows businesses to expand quickly and efficiently. Business technology such as video conferencing, social networks and virtual office technology has removed workplace boundaries that previously limited business expansion.
Business technology is important because it improves communication in the workplace. Office workers are not limited to phone calls or inter-office mail to interact with one another anymore. Electronic mail allows workers to send messages instantly without interrupting the recipient. Business technology also improves communication with clients and business partners because information can be passed through multiple channels almost instantly. An improvement in employee morale can result from effective communication. Although pay is a concern for many workers, it is not their only concern. Employees appreciate good communication coming from management. It produces a healthy work environment. When employees are satisfied with their jobs, they are able to efficiently perform their duties with a positive attitude. Failing to communicate effectively in a workplace leads to frustration and confusion among employees. However, managers can alleviate such problems by keeping the lines of communication open.
As it is evaluated the disadvantage of technology as a strategic solution is recognising that it improves communication in the workplace. Office workers are not limited to phone calls or inter-office mail to interact with one another anymore. Electronic mail allows workers to send messages instantly without interrupting the recipient. Business technology also improves communication with clients and business partners because information can be passed through multiple channels almost instantly. Nonetheless, the advantage of technology within the workplace is boundless positive outcomes considering Technology allows information, whether written or broadcast, to be shared more quickly and with fewer resources. Marketing can be accomplished by placing ads that reach millions of ready buyers on the Internet or through social networking sites. E-learning and other forms of online training have reshaped the readiness of the average small business workforce as employees can listen to classroom lectures and share ideas with classmates from the comfort of their home or office. This eliminates the need for small business to hire training staff.
CGMS does not want to lose any human capital, acknowledging that it has taken them an immense amount of time to be developed and elongated an investment to lose their people to their competitors.
2.2.5 Performance Culture
Performance culture defines the way employees complete tasks and interact with each other in an organization. The cultural paradigm comprises various beliefs, values, rituals and symbols that govern the operating style of the people within a company. Corporate culture binds the workforce together and provides a direction for the company. In times of change, the biggest challenge for any organization may be to change its culture, as the employees are already accustomed to a certain way of doing things.
Strong performance cultures indicate that employees are like-minded and hold similar beliefs and ethical values. When these beliefs and ethical values align with business objectives, they can prove to be effective in building teams because rapport and trust quickly ensues. The bonds that the teams build help them avoid conflicts and focus on task completion. Strong corporate cultures ease communication of roles and responsibilities to all individuals. Employees know what is expected of them, how management assesses their performance and what forms of rewards are available.
Organizational cultures can have varying impacts on employee performance and motivation levels. Oftentimes, employees work harder to achieve organizational goals if they consider themselves to be part of the corporate culture. Different cultures operating in one company can also impact employee performance. For example, if the organization maintains a reserved “talk when necessary” culture, employees may work accordingly; however, if the organization allows one area, say the sales team, to be outspoken and socially active, the organization may experience rivalries among areas. Thus, allowing an area to set up their own culture can affect the performance of the employees deployed elsewhere in the company.
The possible solutions that can be considered in order to improve cash flow, sustain human capital, and also increase communication consist of the previous analysis that was mentioned beforehand known as:-
- Performance Culture
Recognising a strategy forming with the association of these two solutions implicates a better workplace with regards to communication, workplace productivity in which also leads to an improved cash flow.
How the considered solution can be implemented is the acknowledgement of the success factors in which these two strategically produce acknowledging that technology improves communication within the workplace, and it also highly efficient recognising it saves time by speeding up the work flow process, and it also allows correction to be made instantly. Despite that technology in which produces an efficient perspective on the speed of the workflow, in terms of communication, by using technology it expresses the speed of communication with everyone within the workplace when needed.
Performance culture is also another strategic solution in which can be considered recognising that generating a prodigious performance culture brings employees to complete tasks and interact with each other within the organisation. However, analysing corporate culture is difficult because employees are subject to different cultural influences. Subgroups in the company may have their own cultures. Plurality of cultures in an organization is accentuated when there is less interaction between different groups. Conflicting values in the organization can reduce synergies between different departments and ultimately reduce organizational effectiveness. Nonetheless, despite the disadvantage, focusing on the performance culture of employees provides a better understanding of people within the organisation, generating acknowledgment in which can possibly increase work flow, productivity and also cash flow. Performance Culture binds the workforce together and provides a direction for the company. The stronger the performance culture, the stronger the bond that the teams builds in order to focus on task completion. This can create assistance to positioning the entirety of the team to see an eye on the future in order to take advantage of the inevitable upswing within the economy. This also ensures the company that their human capital will be sustainable.
Recognising the company encountering a few problematic complications in regards to declining cash flow, concern of decreasing human capital, and lack of communication within other staff contained by the organisation in regards to not acknowledging where their area of profession is situated, by producing research in regards to defining solutions to assist as to how the company can approach the complication in the midst of improving the work force.
So recognising the issues expressed within the case study, as articulated contained in the case study, technology improves the communication contained by CGMS, since it is recognised as being immensely efficient within the workplace, and by this, and it can improve cash flow. Secondly, performance culture eases communication of roles and responsibilities to all individuals. Employees know what is expected of them, how management assesses their performance in addition to what forms of rewards are available.
In conclusion, technology and performance culture should be considered as to how communication, cash flow, work flow/productivity can be improved within the organisation of Consolidated Global Mining Services.