StudentShare
Contact Us
Sign In / Sign Up for FREE
Search
Go to advanced search...
Free

Company Management Efficiency - Essay Example

Cite this document
Summary
The essay "Company Management Efficiency" focuses on the analysis of the issues in the major issues in the efficiency of company management. the main objective of a company is to maximize profits by improving the quality of its output. The company needs to elaborate human resource strategies…
Download full paper File format: .doc, available for editing
GRAB THE BEST PAPER95.1% of users find it useful
Company Management Efficiency
Read Text Preview

Extract of sample "Company Management Efficiency"

It also makes the staff and the workforce more committed to their work. However, to improve the quality of the output, the manager needs to take several steps (Lore, 1998). First, he or she needs to fully understand the customer's needs, and preferences, as well as, the desired quality, and institute mechanisms to provide the level of quality that the customer requires. Secondly, the manager should monitor and review the quality of products being produced, to improve their demand in the market. This increases the ability of a company to produce higher quality products that are competitive in the market. The next step is that the manager needs to identify opportunities and threats likely to affect the company. Finally, the manager needs to expand the skills of the staff, build their positive attitude towards the company, and ensure that they maximally utilize the available resources and equipment.

Job satisfaction refers to the extent to which the employees gain positive attitudes and feelings towards their work and working environment. Job satisfaction encompasses several aspects such as relationships with colleagues, opportunities for promotion, salary, nature of work, and satisfaction with the supervisor. It also includes the ability to retain the most qualified workers in the company (Patricia, 2002).

The manager takes several steps to ensure job satisfaction. The first one is familiarizing him or herself with the needs of the employee. This is done by considering various ways of launching proper in-servicing for the workers. The second one is motivating the employees, by engaging them in a job that has some degree of challenges and that offers them an opportunity for greater responsibility. The third one is creating a conducive environment for employees to work without building stress, unwarranted worry, and concerns, or interference in their personal lives. This goes hand in hand with providing continuous moral support and encouragement to perform better. The manager also shows concern by taking timely action on a given concern. Lastly, he or she creates ways of appreciating the employees for the work done depending on the level of responsibility (Patricia, 2002).

Employee involvement in decision-making refers to creating an environment where employees have their voice, decisions, and actions recognized in the company. The manager needs to acquire skills for planning, analyzing situations, making high-quality and timely decisions, and identifying challenges facing the company. He is, therefore, required to set realistic goals and measurable objectives for his company. These measures help to build a cohesive, disciplined, efficient, and effective organization (Cranny (1992).

There are several ways used by the manager to encourage the employees to participate in decision-making and problem-solving. The first one is through consultative forums which take the form of general consultation committees, joint working groups, and direct consultation. The second one is that the employees can own shares. This enables them to share profits and receive all the information that is made available to shareholders. The feeling of ownership instills a sense of responsibility and security in the employees. The third one is consulting employees on issues that affect them. The fourth one is collective bargaining where the manager and employee agree on rules and regulations. Another attempt is job enrichment which gives the worker greater discretion over the current work. It also increases motivation and responsibility among workers. The last one is job delegation which also encourages direct responsibility and rational decision-making. These methods not only involve good decision-making but also, encourages systematic and peaceful ways of problem-solving within the company (Lore, 1998).

However, there are several guiding principles for decision-making and problem-solving. First, the manager identifies the problem and finds out the cause of the problem. Secondly, the manager gathers relevant information that might be crucial in decision-making and problem-solving. The third principle is analyzing the possible course of action. The manager does this by putting into consideration all possibilities, advantages, and disadvantages. The next principle is making a decision that is rational and intuitive. The last principle is making a plan that is flexible and that puts into consideration unforeseen circumstances. In this plan, specific responsibilities to be done by each staff are identified. The manager put the plan into action and constantly evaluates it to determine the level of success (Federman, 2009).

In conclusion, the quality of a product is a major determinant in evaluating the success of a company. This creates emphasis on the improvement of quality and productivity. Workers are also crucial and they need job satisfaction and involvement in decision-making and problem-solving. These aspects are closely related and continuous and are carried out to improve the overall well-being of the company.

Read More
Cite this document
  • APA
  • MLA
  • CHICAGO
(“Final exam Essay Example | Topics and Well Written Essays - 750 words - 2”, n.d.)
Final exam Essay Example | Topics and Well Written Essays - 750 words - 2. Retrieved from https://studentshare.org/business/1474454-final-exam
(Final Exam Essay Example | Topics and Well Written Essays - 750 Words - 2)
Final Exam Essay Example | Topics and Well Written Essays - 750 Words - 2. https://studentshare.org/business/1474454-final-exam.
“Final Exam Essay Example | Topics and Well Written Essays - 750 Words - 2”, n.d. https://studentshare.org/business/1474454-final-exam.
  • Cited: 0 times

CHECK THESE SAMPLES OF Company Management Efficiency

How to improve the employees' work efficiency

This study seeks to underscore and develop a deeper understanding of how time management influences employees work efficiency in SDPW Wuxi, China.... The research findings from SDPW revealed that efficiency at work comes down to how many employees maximize their use of the limited time resource.... Inadvertently, work efficiency directly relates to time management.... In this research carried out at SDPW, time management is a critical issue that has elicited numerous responses that have shed more light and given a new perspective on work efficiency....
10 Pages (2500 words) Thesis

Behaviors of Stock Markets

Principal-agent incentives, excess caution, and market inefficiency evidence from utility regulation) Weak form efficiency In a weak-form efficient market share prices reflects information about all the past prices movements.... (Returns and weak-form efficiency: betting markets 1984) In these kinds of markets, futures prices movements cannot be predicted because all the information is available of the past price movements.... (F9 financial management 2010 page 590) ...
7 Pages (1750 words) Essay

Business Information Systems of Bognor Marine Watercraft Company

The paper referred to an example of an IT management that has been very successful in international companies.... Nowadays, accurate and rapid management of information has become an essential and imperative task for business organizations since, besides product quality, it has been an observation that service delivery now plays an important role in deciding future orders, and for this reason, a company can make or lose business just by focusing on its information management and systems....
9 Pages (2250 words) Term Paper

Profitability Analysis for Coca-Cola

Coca-Cola has been established for a long time and has a strong value and internal performance management system.... Coca-Cola has been established for a long time and has a strong value and internal performance management system.... Hence, it is necessary to perform a comprehensive financial analysis of Coca-Cola for us to make an opinion about the company's value and performance management systems.... One of the accepted ways to evaluate value and performance of a company is to look at its financial statements and derive the financial ratios for the company....
11 Pages (2750 words) Essay

Stock Market Efficiency: Marks and Spencer

This essay "Stock Market efficiency: Marks and Spencer" discusses that the London stock exchange is a strong-level and efficient market.... Efficient market efficiency proposes that the market prices of listed securities reflect all information that is available in the market.... There are three types of market efficiency; allocation efficiency, operation efficiency, and pricing efficiency (Kraakman, 2003, p....
8 Pages (2000 words) Essay

The Relative Efficiency of Monopoly

The paper "The Relative efficiency of Monopoly" concerns that monopolies are less efficient when we evaluate them against a perfectly competitive structure under standard assumptions.... But accepting the non-viability of such a perfectly competitive structure does open up the question once we note the greater potential efficiency losses associated with collusions and cartels.... Such Interpretation of the notion of 'good management' as being equivalent to maximization of 'efficiency' implicates the quoted lines as being accusatory about monopoly market structures by pointing out that these forms of markets greatly hinder the generation and sustenance of 'efficiency'....
6 Pages (1500 words) Essay

A Strong Project Management Strategy and Increasing the Efficiency of the Company System

The paper describes the basic aims and activities that need to be effectively encompassed within the Chennai's supply chain are resource collection, procurement, warehousing, transport management activities, coordination with partners, suppliers and most importantly – the customers.... To cure these circumstances, the management decided to implement a detailed project management plan under the able guidance of an expert Project manager who can assess the actual problems of the system and recommend suitable methods....
19 Pages (4750 words) Research Paper

Logistics and Operations Management

This is precisely because a strong communication framework one of the most vital ingredients that enable an organization to achieve operational efficiency.... Failing to do so has adverse impacts on operational efficiency.... The paper 'Logistics and Operations management' is a worthy example of a management term paper.... One of the key determinants of a successful business is the efficient and effective management of operations....
8 Pages (2000 words) Term Paper
sponsored ads
We use cookies to create the best experience for you. Keep on browsing if you are OK with that, or find out how to manage cookies.
Contact Us