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Principle of Management - Essay Example

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This construction-related business unit has recently discovered that profitability and employee turnover have not made any tremendous gains in the last few years, prompting new leadership to conduct a series of tasks in order to improve these important competitive problems…
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Principle of Management
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Principle of Management

Download file to see previous pages... etent leader conducts internal analyses, reviews the external market and competitive environments and also considers the current state of human capital in the employee population. This report highlights a series of specific tasks which can lead to the identification of problems in the construction business unit as well as the tasks necessary to move the business forward and build profit and a better retention model.
The issues which are leading to rather flat growth and improvement must be identified in order to give the construction unit a competitive edge in its industry. Competitors have managed to perform better in relation to profit increases and maintaining a contented workforce who are not as apt to seek other job opportunities. This means that the construction industry, as a whole, provides opportunities for advancement in areas of profit and turnover if these issues can be successfully identified.
The first task necessary in this goal is to conduct an analysis of the company’s strengths and weaknesses in areas of human resources, the internal use of finances, marketing, and job design. This can be accomplished using the SWOT analysis template, designed to review the internal and external business environment in order to give the manager a snapshot of what is occurring at the business and employee level. “SWOT analysis remains a major strategic tool for listing the strengths and weaknesses of the organisational unit and can translate them into value” (Coman and Ronen, 2009, p.5677). For example, it is necessary to review all functional and inter-related departments to essentially audit how they are interacting at the interpersonal and business levels. Administrative groups may not be providing the necessary support or encouragement needed for lower-level employees within the organisation, thus reducing morale. The SWOT analysis would identify poorly-functioning business units as a weakness and give the manager a guideline by which to make internal ...Download file to see next pagesRead More
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