Flint and Burt Engineering Company - Essay Example

BURT AND FLINT ENGINEERING Name Institution Instructor Date Contents Contents 1 Executive Summary 2 Introduction 3 Steps towards the reduction of staff turnover 4 Effective change management 7 Factors considered in product pricing 8 Pricing methods for consideration 10 References 11 Executive Summary 2 Introduction 3 Steps towards the reduction of staff turnover 4 Effective change management 7 Factors considered in product pricing 8 Pricing methods for consideration 9 References 11 Executive Summary The content of this document evaluates the manner in which Flint and Burt Engineering Company has performed as indicated by the previous consultancy operation. The document also offers a report on the required steps and necessities for the company in reducing the level of staff turnover, which is currently considerably high. Furthermore, the content of the reports addresses the significances that are associated with effectively managing the process of change for the company. This also involves the manner in which the challenges involved can be dealt with in the course of the effective change process. The report also describes the factors that are important in coming up with the product pricing as well as the pricing methods that would be effective for the company. Introduction A proper understanding of the requirements that are necessary for the effective management of the change process at the Flint and Burt Engineering is very important when it comes to the current reduction of staff turnover level. The purpose of the change process that is expected to take place is supposed to be communicated to the management team that is charged with the responsibilities of realising it. The current level of staff turnover at Flint and Burt Engineering is one of the major indications that there are issues that are supposed to be changed in the way the management process takes place in the company. The manner in which the management is relating with the other staff and employees is another reason that contributes to the current high levels of staff turnover at Flint and Burt Engineering (Dhillon, 2002). The relationship is poor and below an acceptable level. Relevant and affective training programs would also play an important role in settling various management issues that are facing the Flint and Burt Engineering. The training activities will not only equip the workers appropriately but will also go a long way in ensuring that they play an important role in the realisation of change within the company. The training is also expected to be administered to the management team since they are the ones who play key roles in effectively managing the change process at the Flint and Burt Engineering. When the aspects of training misses in the company’s schedules and programs at any one point in time, then the dismal performance by the company in its business affairs begins to show up. These and other things are the ones that actually contribute to the high staff turnover and the associated challenges (Nicholas and Steyn, 2008). Steps towards the reduction of staff turnover There are a variety of instructions and procedures in form of steps that could be considered by the Flint and Burt Engineering in realising a reduction in its current levels of staff turnover. The preference with regard to these steps is an important initiative that should be adopted by the company, as this would significantly lower the cost of reducing staff turnover. The management team as well as other worker in the company are expected to benefit a lot by following these steps. The performance of the company will then improve considerably as the current high levels of the staff turnover are reduced. Studies indicate that excellent performing companies are those that that take seriously the affairs of their workers and staff (Nicholas and Nicholas, 2004). The Flint and Burt Engineering Company needs to put in place the most effective plans of equipping and developing their staff. This is because the implementation of these plans leaves the staff satisfied hence reducing the high levels of staff turnover. The first one of these steps is for the management to come up with a system that recognises and rewards excellent performance by its staff and other workers within the company. This kind of a system goes a long way in boosting the morale of the staff thereby leaving them with few or no reasons to look for other companies. Rewarding the worker could comprise promotions and salary increments as well as tangible present. This would be easy to achieve in situations where by the efforts of the workers translate to a corresponding increase in the income or profits made by the company (Chang, 2010). In rewarding and recognition, it is up to the management team to come up with the kind of rewards that they feel are appropriate and will leave their staff satisfied. The best way of doing this would include seeking for suggestions and views of the workers themselves concerning the matter. The Flint and Burt Engineering should ensure that this step is performed on a regular basis in order for them to in a position to realise steady reduction in the level of staff turnover (Hefley and Murphy, 2008). The other step that will play a significant role towards the reduction of staff turnover at the Flint and Burt Engineering is the introduction of understanding between the employees and their employers. This would also be appropriate between the workers and the management team in the company. Through fostering of a better understanding these two groups in the company will enable the management and leadership of the Flint and Burt Engineering to demonstrate their willingness and readiness in offering their supports to the workers. This will in turn result in a better working atmosphere for the staff and other workers (Dhillon, 2002). Another equally significant step for the leadership of the company to consider is ensuring that all the staffs are busy with something to do at any one point in time while they are in the company. This will significantly deal with boredom among the workers, which is believed to contribute immensely to the raising levels of staff turnover at the Flint and Burt Engineering. The tendency of the staff to look for other companies as associated with the being idle and bored at their current work places. The leadership at the Flint and Burt Engineering should take an immediate move in ensuring that all members of staff and other workers within the company have sufficient duties and responsibilities to prevent idleness and boredom. This will also contribute to lowering the levels of staff turnover in the company (Nicholas and Nicholas, 2004). Another step that is important for the leadership of this particular company to consider as an initiative towards the reduction of high staff turnover is effective mode of communication between the leadership and the entire worker. This communication should also be made to take place on a regular basis so as to create a situation where any arising issues can be concerning the workers can be adequately tackled in good time. This is because the management and leadership will be able to keep in touch with the staff on a regular basis to allow them to find timely solutions to any issues that may be raised by the members of staff (Nicholas and Nicholas, 2004). In addition, another step that is worth observing by the Flint and Burt Engineering in coping with the increasing levels of staff turnover is the encouragement of cross training of the members of the staff. This comprises the administration of training to the members of staff in a variety of fields within the company. This would enable them to take part in various roles and responsibilities within the company and hence reduce the chances of idleness and boredom, which has bed cited as one of the reasons that contribute to the current high levels of staff turnover. The other importance associated with this kind of initiative is the addition of value and recognition to the staff. Staff member who are trained in a variety of fields have higher self-esteem and enhanced output with regard skills and strength. Therefore, it becomes very difficult for these kind of staff to leave the company that equips them with the relevant training and value addition (Chang, 2010). The Flint and Burt Engineering should also consider the extent of work that is assigned to any given member of staff in the course of performing the roles and responsibilities within the company. This is because there is a lever of workload to the staff that actually results in them being overworked as it is beyond their capability to accomplish within the available working hours. The company should also try its best in evaluating the amount of work that can be comfortably handled by the workers within the specified time. This will play an important role in the reduction of levels of staff turnover resulting from work overloading (Aucoin, 2002). Effective change management The effective management of change at the Burt and Flint Engineering is an exercise that is faced with issues and challenges. This is mostly because the Burt and Flint Engineering is a company that engages in profit making activities. However, it is important to note that consider the advantage that are associated with the effective management of the process of change rather than dwelling on the challenges involved. This is because the whole process is entirely beneficial to the company and should be given the necessary support by all stakeholders involved in Burt and Flint Engineering (Dhillon, 2002). The process of managing change in this particular company should be carried out with an objective of ensuring that the management and member of staff are able to adapt to the new working environment as quickly as possible. The faster everybody else within the company is able to adapt to the changes in management and work environment, the faster the company will be able to realise positive outcomes. This is essential as part of the initiatives to boost the productivity of the company and ensure that an increment in profit making is realised as expeditiously as possible (Chang, 2010). It is thus useful for all the plans, programs and activities performed towards the realisation of effective change at the Burt and Flint Engineering to take careful consideration of the fact that they have to be effective. It is, though, important to remember that there this particular process will result in impacts that are both beneficial and non-beneficial to the company. Therefore, it is upon the leadership and management of the Burt and Flint Engineering to encourage the positive ones and to find a way of dealing with the negative ones. Positive impacts that is associated with the effective management of the change process should be better placed to counter the current dismal performance of the Burt and Flint Engineering. Previously, the consultant who evaluated the performance of the company had raised several concerns, which included poor long-term planning, poor services to the customers and high levels of staff turnover among others. An effective and strategic process of change management by the company will address all these issues in the best way possible. This change does not have to be very expensive since it will do more harm than good the Burt and Flint Engineering that is already struggling to put things in order. It is thus important for the leadership and management team to consider the aspect of cost in the course of introducing changes. The cost of introducing and managing effective changes in the company needs to maintain at optimum (Chang, 2010). Factors considered in product pricing Effective pricing technique With regard to the product pricing issues identified by the previous consultant who evaluated the performance of the Burt and Flint Engineering, it is necessary to develop a structured pricing technique. The developed technique of product pricing should be effective in the sense that it should be able to strengthen the competitive advantage of the products from the Burt and Flint Engineering (Dhillon, 2002). Customer value When considering the product price the company should include the value of their customers. The price set for a particular product should reflect the value that the customers attach to such a product or the services offered. Consultants having identified that the Burt and Flint Engineering lack a clear strategy when it comes to pricing, it is important for it to consider several various factors when doing pricing for its products. Competitor pricing This is a very important factor for consideration in setting prices for products and services by the Burt and Flint Engineering. This is because appropriate knowledge of the prices for the competing products and companies allows this particular company understand where to place the prices for the products to acquire maximum profit. Expenses incurred The expenses incurred in course of producing a product should also be an important consideration for the Burt and Flint Engineering in arriving at a suitable pricing for its products. This will allow them to stay away from incurring unnecessary loses arising from poor decision-making (Aucoin, 2002). Pricing methods for consideration It is necessary and important for the Burt and Flint Engineering Company to consider pricing methods in the profit making business activities. The pricing methods considered should be in a position to address the customer needs as well as the objectives of the company. In this case, it would be appropriate for the company to consider pricing methods, which include: Marginal pricing This method of pricing will allow the Burt and Flint Engineering Company to incorporate the variable expenses incurred in the manufacture of products as well as other expenses that are related to procurement. The adoption of this particular method by the company will also ensure that the company is better placed obtain increased profit margins. This is because the profit margin utilised in this method of prising will incorporate all the shares of the company (Chang, 2010). Market-based Pricing This method of pricing is expected to allow the particular company to effectively compete with other companies in their area of specialisation. This is because the method operates based on comparison other price of the product set with that of other competing companies. The adoption of this method by the Burt and Flint Engineering will imply that it is expected to fully comply with necessary cost requirements (Nicholas and Steyn, 2008). Full cost pricing The full cost pricing method will cause the company to think of introducing the aspect of both variable and fixed costs in deciding prices that will suite their products and services. This pricing method will also incorporate desirable taxes in establishing the final prices for products and services (Nicholas and Steyn, 2008). References Aucoin, B. M. (2002). From engineer to manager: mastering the transition. Boston, Mass. [u.a.], Artech House. Chang, C. M. (2010). Service systems management and engineering: creating strategic differentiation and operational excellence. Hoboken, N.J., John Wiley & Sons. Dhillon, B. S. (2002). Engineering and technology management tools and applications. Boston, Mass. [u.a.], Artech House. Hefley, W. E., & Murphy, W. (2008). Service science, management and engineering education for the 21st century. New York, Springer. Nicholas, J. M., & Nicholas, J. M. (2004). Project management for business and engineering: principles and practice. Oxford, Butterworth-Heinemann. Nicholas, J. M., & Steyn, H. (2008). Project management for business, engineering, and technology: principles and practice. Amsterdam, Elsevier Butterworth Heinemann. Read More