Strategic Planning Framework Research Paper Example | Topics and Well Written Essays - 2000 words

Strategic Planning Framework - Research Paper Example up to the standards as the company is losing its grip over its market share as well as the position it had achieved earlier in the market based on the quality of its products and services. The two main reasons behind these situations are: 1. High employee turnover rate; 2. Decreased customer satisfaction. Let us discuss these problems in some detail in order to know how these problems are affecting the overall business of the company. 1. High Employee Turnover Rate As Beam (n.d.) states, â€Å"employee turnover is the process of replacing one worker with another for any reason† (p. 1). High employee turnover means that the company is not able to retain its employees. It is a fact that experienced employees yield higher levels of productivity as compared to employees who join the company as fresh employees. The reasons behind high employee turnover ratio are usually improper employee recruitment and lack of a proper incentive plan. When we inquired the managers of NexGen, we ca me to know that they had started hiring less experienced employees in order to cut down the cost of retaining experienced employees. They also took this step as the result of some resignations from their key employees. However, this strategy of the company is proving unsuccessful because new employees are not able to show good performance, and their managers fire them from their jobs after a very short span of time. Another reason that we came to know through analysis was the lack of a proper incentive plan to retain high performing employees. The incentive plan could have motivated the employees to remain associated with the company instead of resigning from their positions. A couple of people who had worked for the company earlier revealed that the company did not use to reward them for their... We would recommend the managers of the company to implement all solutions without any delay if they want to succeed in this current downscale economy. Although the solutions may take some time in proper implementation, the process should be started right away in order to save the company from bearing more loss. For example, the hiring of skilled employees may take a couple of months, but the effects on the company will be long lasting. Similarly, implementation of an incentive plan would need a proper financial analysis. Managers of the company would have to analyze all financial factors before designing the plan in order to save the company from suffering extra costs of developing and implementing the incentive plan. Implementation of a quality management system also needs planning. Managers of the company need to set guidelines and train employees to follow those rules while developing any new product. Introduction of after-sale service plan can be done right away as no time-taking planning is needed to take such steps. The managers just need to hire some outdoor service employees to implement this step.

Offshore oil in gulf of mexico Essay Example | Topics and Well Written Essays - 1000 words - 1

Offshore oil in gulf of mexico - Essay Example The original location of the oil industry was off the Louisianan coast. Though at first the production was negligible, it rose steadily such that in the 90’s it was producing around 25% of the world’s gas. The transformation of the offshore oil industry off the Mexican Gulf can be attributed to technological transformations and brisk entrepreneurship. The inventiveness turned the rather deserted Louisiana into a hub of prospering activity in terms of oil production. The industry at first got workers from around Louisiana but later workers came from all over the United States. It can be said that currently Louisiana is a major contributor to the United States’ economy. Consequently, people getting attracted to it were the expectations. After the Second World War, the veterans who came back home too part in the challenge of mining oil from the ocean floor. They were successful and the developing technology is continuously motivating their outcome as improvements to their system are made daily. The offshore mining industry now boasts over 4000 oil platforms that are active and pumping the petroleum to land (Fitzgerald 82). Offshore drilling for oil is quite challenging. Though the mechanism is mostly the same, the fact that this is being carried out miles away from the land makes it unique. The mechanism gets complicated when the sea floor is thousands of feet below sea level. In offshore drilling, artificial platforms have to be built for the drilling purpose. To highlight how complicated the process is, it is imperative to have an insight into the process of drilling in details. The artificial platform, for example, created to provide support for drilling is usually unstable due to water currents and the winds (Lloyd 45). In order to drill effectively in a non stable position, a drilling template is required. It is placed accurately by use of GPS and then a shallow hole is dug where it is cemented to the sea bed. That in place, the accuracy of the drilling is ensured without being hindered by the motion of the platform. A blowout preventer is installed too to prevent any gas from seeping out on the seabed and contaminating the water, just like in onshore mining. The rigs in this case have to be economized; there are movable rigs that are used solely for exploration because they are less expensive than the permanent ones placed after the oil deposits have been found. The whole offshore process is based on low cost production with a maximized profit but with utmost concern being environmental safety. However, environment safety in cases of offshore oil drilling has raised a lot of controversies (Fitzgerald 82). Though the oil mining along the Mexican gulf is economically beneficial, it significantly contributes to environmental degradation. Several critics have pointed out that off shore mining is not only dangerous but also risky. The industry has set up several safety policies but they are highly doubtable considering the explosions and oil rig accidents. For instance, in 2010, there was an explosion in one of the rigs that killed eleven people and left oil gushing at an estimated five thousand barrels per day. This oil spill with such intensity outdid its income by the damage it caused on the fisheries (Lloyd 45). The environment is the foremost thing that should be consider when taking part in any entrepreneurial activity. The question that has