First of all, Bayer Center staff began by assessing employees’ and sponsors’ perceptions and identifying the dynamics of the organization’s development. The results of such a study made it possible to determine the adequacy of the strategy used and carry out its correction. The use of technology for assessing the organization’s perception will be appropriate at all stages of the development of a brand of any reputation (Bauer & Erdogan, 2017). First, it will provide an opportunity to obtain objective information for subsequent analysis and interpretation to make marketing decisions. Second, in this way, every business decision regarding the brand will be supported by the opinion of the employees and the sponsor. In addition, the assessment of the organization’s perception by employees helps to strengthen the organization’s position in the market.
Involvement of Employees in the Company’s Workflow
The next step applied by Bayer Center staff was the basic methods of involving employees in the work process to achieve the best result and goals of the company. As a result, the indicators that allow assessing employee engagement in the organization have increased. Namely, the independence of the staff has increased in the absence of constant control by the management and initiative. The increase in employee engagement has allowed not only creating its internal pool of employees for senior positions (for example, to replace a retiring director). The process of involving employees in the work process should start from the moment the team is formed (University, 2017). It should also be applied at any stage of the growth and development of any organization, so this strategy can also be used in other companies.
Building Effective Interaction between Departments
The next strategy, which will also work for other organizations, is to establish effective interaction between departments. Bayer Center staff has based interaction between the director and the board of directors, as in this case, the teamwork of the departments as necessary, and affects the business results.
The key to success in the interaction of departments is common goals and a common information field. One of the most popular and working tools is meetings of the CEO with department directors and department heads (Li et al., 2021). This is an excellent opportunity to directly inform them about the results of the company’s activities and current projects, discuss plans and resolve any issues that arise. Then managers can quickly and easily pass information down the chain of “boss-subordinate” to eventually reach every employee. This will facilitate an open dialogue and exchange of experience between departments in any organization, help employees expand their contacts, and learn about the most effective approaches to work.
My Recommendations Regarding the Incident
Sound Perception of Criticism
The management of the organization focused exclusively on mediocre reviews, although the company’s reputation was excellent. It is necessary to remember that if a business is criticized, somebody is interested in it. And from this, it follows that an organization can get another client or partner in the person of a critic. There is a statistic that the more a company is criticized, the worthier it is considered (Whittington, 2019).
It makes no sense to spend resources and analyze errors, point out the shortcomings of a failed case in advance. In addition, criticism arises as a result of the conflict of thoughts of different people. Perhaps among the negative statements, a brilliant idea can often be found and a fresh look at the situation. It often happens that the weak points of a business or project are criticized, and if they are noticed, it is necessary to work out the shortcomings. And therefore, it is time to get better and acquire new skills, which is why the organization benefits from mediocre reviews.
Business Risk Management
Effective implementation of business activities in current conditions is impossible without unique methods of risk analysis and management. For example, the sponsors wanted the organization to take on more responsibilities. With proper management of business risks, it is developing and implementing an economically justified list of new responsibilities as possible (Grynko & Yehorova, 2020). It aims to reduce the initial level of risk in financial transactions or financial transactions to an acceptable final level. It is essential to identify potential situations related to both favorable and unfavorable developments for the company.
Thus, the firm needs to continue to consider the problems associated with risk. It may result in the promotion of the company and the increase in capital as a result of the implementation of the activity. The organization’s actions in this area aim to find risks and opportunities that can bring potential profit. Such a strategy will contribute to the solution of the main task of entrepreneurship. Depending on the situation, it will be possible to choose the optimal project from several projects, considering that the higher the expected profit of the project, the higher the risk.
Business planning is a tool of primary importance in company management, on the effectiveness of which the future functioning of the enterprise depends. Therefore, one of the key recommendations is the formation of a business plan, which in the future will enable the team to use existing funds and resources productively and competently. The essence of the strategy is as follows: to identify the goals and objectives of the company’s development and determine the prospects. Then the optimal direction for the implementation of new projects should be found. First of all, to draw up a business plan, the results obtained to apply the previous strategy are needed.
The program should be based on the organization’s current market position and possible growth prospects. Both strategic planning methods, which is the general policy of the enterprise, and operational planning, which is a specific scheme of actions, are essential. Business planning in an organization involves the formation of a development strategy for both internal and external use.
The Reasons why the Members of the Board of Directors Shifted into “Tue Governance”
Transparency of Relations
For the board of directors to work in the organization as the employment contract binds them, they must be managed based on the transparency of their work. Transparency in the performance of official duties eliminates concerns about the boss on the part of subordinates. This increases the likelihood of retaining a current job and simplifies career growth (Anacleto et al., 2021). Consequently, the board of directors has an increased incentive to participate in the organization’s activities actively and in decision-making. Subordinates expect a certain level of transparency from management and the management team, as it helps to achieve high-quality communication in the company. An integral part of transparency in work is constant feedback because lack of clarity can significantly affect employee motivation.
The lack of transparency of relations in the company leads to incorrect setting of tasks and incomprehensibility of indicators and criteria for evaluating the quality of work. The elimination of lack of transparency served as one of the pushes for entering “true governance.” Therefore, the manager should always pay attention to this side of the process of managing subordinates.
The employee needs to know their prospects for the short and long term and what they need to achieve to count on promotion. Employees should know what career prospects they have in the company. Otherwise, they will often think about changing jobs and will not be interested in “true governance.” With the help of the work carried out to assess the prospects for development in the organization, it became clear what merits a promotion can be got. This led to an understanding of what skills are required for the position, and the directors had a sense of the importance of the work performed (Soebroto & Budiyanto, 2021).
Feedback from the manager is essential for a better understanding of the career path. For this reason, conducting an assessment of the organization’s prospects and interviewing employees was an essential step in the transition to “true governance.” Thus, knowing the evaluation criteria and career prospects, the directors became enterprising employees.
Clear Requirements for the Position
The employee performance assessment has become objective, reliable, unbiased, comprehensive, and accessible. As a result of clear and understandable criteria, decisions on the dismissal or promotion of an employee began to be made. When building a company’s brand, one of the essential elements is openness, clarity, and transparency in making management decisions related to the movement and release of personnel. The way resignations and appointments occur in the company is one of the essential criteria for the retention and interest of existing employees. It also provides an understanding of the opportunities for professional and career development within the company. Perceiving this as a hypothesis, each company creates its personnel evaluation system. When deciding to reduce or increase an employee, the organization’s head began to be guided by clear criteria for matching the position.
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