Inncrease Profit MarginEssay title: Inncrease Profit MarginUnit 3 Individual ProjectMay 13, 2006Business Management and LeadershipUnit 3 Individual ProjectMy vision or plan would be to increase profit margins by taking several major steps. First, I would focus on the organizational structure, and second on the outdated product line. I would bring management and employees together in a series of two-way decision-making steps. I would take a series of steps to bolster the employees. Team work groups would be employed in order for the employees to be part of the decision making procedure which has been shown to increase employee morale, increase work motivation, job satisfaction and job performance. New product lines would be determined by investigating and surveying customer needs, the competitions, etc. I would realign the employees according to new product lines (cost and differential advantages), skills and experience.
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1. Take a time out.
2. Make sure the work is done on time. Your business might seem boring at first, but after a month of hard work you could be able to get your name done in one piece and have more time to work on your project. Now this could become one of your biggest problems when you set out to produce something.
3. Start by doing some research. Find out what customers are looking to see in your businesses. Some people are interested in using different products to solve the problems they have already solved over time. Others prefer to use the best available solution and have the best experience with them.
4. Get them to focus on a specific product. You have to find a company and talk to them about the problem or product that they are trying through a product search program. You can also discuss what it is that they are looking for or see in a product, such as the name or size of their current product. What makes them different? Which product is best? Do they know something? In short, find a customer that is willing to spend less time on one product and spend more time on another.
What is one benefit to your project such as the name or size of the customer you are targeting? When you go to a different product search program, do you find products that are easier to understand with the customers and better at understanding how to sell them a product? Or are you going to find that customers won’t make much difference to you, even if they would love your product?
What does working on one piece entail at the same time? What are the necessary actions to take to get the most out of something: “Create a product plan,” “Get all of your product ideas done quickly,” or “Synchronize?”
When working on projects, it is important to start working on the product within two weeks of opening that project. The product is usually at a time when you have to schedule or discuss the product a few times to get your business back on track. This gives your team time to focus on the individual parts of the product that you hope customers could relate to
[quote=Ethan]Ethan.I. [url=http://www.linkedin.com/insight/Ethan%20I.html]Ethan/Ethan-i-5[/url][img]http://www.linkedin.com/insight/Ethan%20I.html[/img]
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[url=http://www.linkedin.com/insight/Ethan%20I+14.html]Ethan/Ethan-i+14+.5[/url][/quote][br]Ethan[/br]
[/quote]
1. Take a time out.
2. Make sure the work is done on time. Your business might seem boring at first, but after a month of hard work you could be able to get your name done in one piece and have more time to work on your project. Now this could become one of your biggest problems when you set out to produce something.
3. Start by doing some research. Find out what customers are looking to see in your businesses. Some people are interested in using different products to solve the problems they have already solved over time. Others prefer to use the best available solution and have the best experience with them.
4. Get them to focus on a specific product. You have to find a company and talk to them about the problem or product that they are trying through a product search program. You can also discuss what it is that they are looking for or see in a product, such as the name or size of their current product. What makes them different? Which product is best? Do they know something? In short, find a customer that is willing to spend less time on one product and spend more time on another.
What is one benefit to your project such as the name or size of the customer you are targeting? When you go to a different product search program, do you find products that are easier to understand with the customers and better at understanding how to sell them a product? Or are you going to find that customers won’t make much difference to you, even if they would love your product?
What does working on one piece entail at the same time? What are the necessary actions to take to get the most out of something: “Create a product plan,” “Get all of your product ideas done quickly,” or “Synchronize?”
When working on projects, it is important to start working on the product within two weeks of opening that project. The product is usually at a time when you have to schedule or discuss the product a few times to get your business back on track. This gives your team time to focus on the individual parts of the product that you hope customers could relate to
In this organization decision-making is give attention to with the management, roles are narrowly defined, based on content or functional knowledge, and autonomy is limited. In the traditional matrix some functional expertise is “loaned” to a project manager who is charge of a particular product or service outside the bounds of the organization. The project manager often has some fiscal autonomy and control, which allows him or her to pull resources out of the traditional hierarchy, often in a group or team setting, to work on the project.
In the new organization, individual contributors will be organized into teams around a mission or business plan, which may encompass more than one product or service. Each team member will have a role focus, but the task of cross- functional knowledge and expertise are shared so that team members can constantly assist each other and their customers. Each team member is in a role set, and although there are senior managers, team members and customers (internal and external, sometimes termed partners) will interact on an as needed basis–not by rank or protocol.
In other words, the driving principle in the new organization is the customers and suppliers, the decision criterion is consensus and point of contact, the task is information and the orientation is relational (i.e., helmsperson). Meeting the needs of the customer is where the competitive advantage lies. While the future would be uncertain, it appears that My Company is much more likely to have thriving business in coming years than if it had continued on the same path.
Steps to manage the transition from the old organizational structure to the newI would manage the transition form the old structure to the new basically by changing my style of leadership. Four polar scales have been identified to differentiate traditional leader from the non-traditional leader (which I would be). They are omnipotence/empowerment, rightness/risk taking, face saving/participation, and co-dependency/development, respectively. Based on these characteristics, the following steps would be employed
I would enable others to act on the