GMS 200 Lecture 4: marketing-globus (2)
5 May 2018
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Similar to most companies, labour and human resources were our most significant costs. As a
grouped business company, our central goal was to minimize costs, while maintaining socially
responsible human resource practices in order to keep a productive workforce. Our team
managed these costs effectively by balancing labour costs with the business’ facility upgrade
costs, while aiming with a specific focus for managing overtime and incentives given to
employees.
In regards to compensation, it took us a few years to develop an appropriate plan.
Beginning with Year 6 we steadily increased salaries with the goal of growing our productivity.
While the demand for our product began to rise, we wanted to ensure that we were
providing a consistent and a high quality product. We successfully managed this by
implementing a moderate assembly of quality incentive for both products. Our group also further
ensured error free manufacturing by rewarding employees through encouragements by
compensation. In addition, to further motivate employees and produce a more productive staff,
we rewarded the workers for perfect attendance with the objective of lowering employee sick
leaves and absences.
While meeting camera demand was relatively straightforward, there was however, a
difficulty upon meeting the demand of drones during each business year. In order to mitigate
this, we eventually spent a large amount of resources to professionally train our drone staff to be
as productive as possible. This, then successfully aided us in meeting the demand for our drone
products. Furthermore, we also offered our company’s drone staff large fringe benefit packages
to maximize their satisfaction in return for their productivity at work.
Regarding facilities however, our biggest issue was balancing the cost of overtime versus
the cost of constructing additional workstations or implementing upgrades to the current ones.
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Similar to most companies, labour and human resources were our most significant costs. As a grouped business company, our central goal was to minimize costs, while maintaining socially responsible human resource practices in order to keep a productive workforce. Our team managed these costs effectively by balancing labour costs with the business" facility upgrade costs, while aiming with a specific focus for managing overtime and incentives given to employees. In regards to compensation, it took us a few years to develop an appropriate plan. Beginning with year 6 we steadily increased salaries with the goal of growing our productivity. While the demand for our product began to rise, we wanted to ensure that we were providing a consistent and a high quality product. We successfully managed this by implementing a moderate assembly of quality incentive for both products. Our group also further ensured error free manufacturing by rewarding employees through encouragements by compensation.
