Analytic report on improving company growth - Essay Example

Analytic Report on Improving Company Growth Favourable market climate, friendly business environment, sound economic atmosphere are factors that contributes to the growth of the company, however these are external factors and the company do not have any choice but to react to it. Another factor that is within the province of control by the company is sound business decisions made by top management and the congruent favourable market response. In this case the company should be able to make sound business decision that is based on factual and up-to-date information.

Company growth is dependent upon so many factors. There is the market, or the arena where the product of the company is competing with other company’s products. The market’s demand for quality has always been a factor to consider, and success comes to the company whose product speaks quality. A product with a continuing record for excellent quality normally has very motivated employees. Another factor that contributes to company growth is the organizational structure of the company. A company should always be able to accept change no matter the kind of form it would arrive.

A key factor to consider in meeting the challenges of change is the ability of the company to maintain its current revenue line while leveraging the opportunities that comes across the company anytime it comes. This ability is called ambidexterity. Ambidextrous company normally have well motivated, well trained and ambitious workforce. Analytic Report on Improving Company Growth Information Technology Simply put company growth is enabled by knowledge. Knowledge comes from the evaluation and analysis of all available information that can be obtained.

This can be achieved by ensuring that the company’s information system is able to gather data at the front end of the business. The information system in turn should be able to convert this data into usable information through the generation of reports. The information is then converted into knowledge by top management by taking action and measuring the results of the actions. “At a tactical level, business intelligence allows a company to achieve its goal by applying a decision-making cycle of analyzing information, gaining insight, taking action and measuring results.

At a strategic level, business intelligence allows you to use the result of the analysis to create superior corporate strategies that outsmart your competitors. Business Intelligence essentially means putting relevant information at the fingertips of decision makers at all levels of your organization – functional areas, business units, and executive management. Technologies exist today to make this possible for all companies – large and small.” (Vitt, Luckevich, & Misner, 2002) To illustrate: A company that sell cars have seen its sales plummeting whenever there is an increase in the prices of fuel.

Looking at solar energy as the next best alternative due to its inexhaustible supply and the cost of acquiring it. The company embarked on an ambitious project to develop batteries that can sustain its energy level and last for more than 15 hours. The company also asked its research and development department to look for the most efficient solar energy harvester that would beat the capactiy of the current solar panel design in terms of efficiency and amount of energy gathered. The car manufacturing company’s decision was prompted by simply looking at the production trend of the oil producing countries over the years.

The increasing prices of oil based products in comparison to its sales over the years. The company’s analysis lead it to believe that the next best thing would be solar energy in cars. Employee Motivation The strength of any company is its people. Motivated people often come up with the best idea. Motivated people also give the extra mile in terms of rendering service to the company. There is no need for the company to ask their employees to render overtime, the employee themselves realizing the exigency of their service will render overtime on their own.

Motivated people are also extra conscientious with their job. Conscientious employees often produce quality output within the required time. This would ensure that production remain high including the level of quality. In a nutshell people are motivated to do what they believe is in their best interests. This can often result in stupid, silly, or even unconsciously self-destructive behaviours. It can also result in brilliant achievements and great humanitarian acts (Bruce & Pepitone, 1999). Bruce and Pepitone (1999), intimated that employees’ motivation can be affected by the following: Additional training – this contribute to their personal professional skills that would increase their professional value.

Environment – an organizational culture that nurtures and make an employee feel that he belongs to an extended family can motivate employees to perform and sacrifice more for the company. Monetary – the most short lived kind of motivational tool. Value of money or an employees’ appreciation thereof is only up to the time when he realize that he is not better off when he got the increased compared to the when he didn’t get it. A fair Performance Evaluation is also a key component in employee motivation.

However, performance evaluation should be rooted in a sound job description that will clearly indicate the dimensions of the job including its parameters. A regular team building and strategic planning that will determine the Key Result Areas will also help. Knowing the direction of the company and the role of each employee will help the employee position himself with regards to the goals of the company. On his own the employee will be able to align his own personal goals to that of the company.

Ambidexterity Corporate ambidexterity is the ability of the company to accommodate emerging opportunity while at the same time ensuring that the normal production processes are well taken cared off (Birkinshaw & Gibson, 2004). Ambidexterity should be part of the organization’s culture to ensure that it can respond to opportunities within the smallest amount of time. Considering that in today’s corporate world, it pays off to be diverse. In terms of product offering, in terms of responding to market forces that would include flexibility in pricing.

Bibliography: Birkinshaw, J., & Gibson, C. (2004). Building Ambidexterity in an Organization. Boston: MIT Sloan Management Review. Bruce, A., & Pepitone, J. S. (1999). Motivating Employees. New York: McGraw Hill. Vitt, E., Luckevich, M., & Misner, S. (2002). Business Intelligence Making Better Decision Faster. New York: Microsoft Press.