Workforce Management Theory Analysis

This company, as I suggest, should not close down even though it is operating at losses and deficits on a daily basis, rather, management of the company should look into the problems and try to address them one at a time to minimize these losses. First of all, one of the problems I see is the work force. Considering that the company hires so many workers, it should lay off some of its workers to at least break even with the revenues generated. The company, if it cannot work on less people, should at least try other different strategies.
First of all, wage cuts are inevitable in this case, seeing that $80 per person per day only generates $20 in revenue is not efficient. To operate effectively, I propose that the returns per person should be at least 40-50% of their daily wage. If laying-off of workers is not feasible at this time, the company should reduce the wages following the returns that I have stated above. High wages can also be offset by outsourcing labourers from countries which offer cheap labour such as Bangladesh; here, the workforce can produce the same output at lower wages.
Another option that can be explored will be the opposite of the cutting of wages; the company should try to look for ways to increase its production, let’s say from 250,000 units to at least 500,000 units so as to still stick with the plan. Finally, if both of these propositions still do not produce the desired outcome, the company should bet on marketing strategies to either increase the price per item, or at least be able to draw capital from sponsors through means such as advertising and promotions.

The company can help promote tie-ups with other companies to market both products at the same time, using joint resources to cover for the costs. The company can also opt out of being a direct competitor and instead turn into a supplier if there is sufficient competition. Bibliography Bangladesh labeled as’cheapest place’ for investment in Asia. (January, 2008). The Bangladesh Journal. Retrieved March 30, 2009 from http://www. bangladeshjournal. com/article/Bangladesh/152/

Place your order
(550 words)

Approximate price: $22

Calculate the price of your order

550 words
We'll send you the first draft for approval by September 11, 2018 at 10:52 AM
Total price:
The price is based on these factors:
Academic level
Number of pages
Basic features
  • Free title page and bibliography
  • Unlimited revisions
  • Plagiarism-free guarantee
  • Money-back guarantee
  • 24/7 support
On-demand options
  • Writer’s samples
  • Part-by-part delivery
  • Overnight delivery
  • Copies of used sources
  • Expert Proofreading
Paper format
  • 275 words per page
  • 12 pt Arial/Times New Roman
  • Double line spacing
  • Any citation style (APA, MLA, Chicago/Turabian, Harvard)

Our guarantees

Delivering a high-quality product at a reasonable price is not enough anymore.
That’s why we have developed 5 beneficial guarantees that will make your experience with our service enjoyable, easy, and safe.

Money-back guarantee

You have to be 100% sure of the quality of your product to give a money-back guarantee. This describes us perfectly. Make sure that this guarantee is totally transparent.

Read more

Zero-plagiarism guarantee

Each paper is composed from scratch, according to your instructions. It is then checked by our plagiarism-detection software. There is no gap where plagiarism could squeeze in.

Read more

Free-revision policy

Thanks to our free revisions, there is no way for you to be unsatisfied. We will work on your paper until you are completely happy with the result.

Read more

Privacy policy

Your email is safe, as we store it according to international data protection rules. Your bank details are secure, as we use only reliable payment systems.

Read more

Fair-cooperation guarantee

By sending us your money, you buy the service we provide. Check out our terms and conditions if you prefer business talks to be laid out in official language.

Read more
Use the discount code "30OFFNOW" today and get a 30% offOrder Now