Thursday, July 25, 2019

How to save a failing law firm Speech or Presentation

How to save a failing law firm - Speech or Presentation Example To be specific, the administration develops the rules and regulations required to govern all aspects of the company. Therefore, the administration should exercise innovation, in order to provide the company with guidelines that would shape the destiny of the firm in the long term perspective. On the other hand, management takes the established rules and regulations and implements them using the available resources in the firm. The management goals are usually in the short term. The available resources in a firm refer to the factors of production such as capital, labour, and skills. These two responsibilities are very important in running any firm as they define the future position of a company. For this reason, leaders and managers require to possess vast knowledge and skills for any meaningful success in a company. Knight and Day Company is in the verge of collapsing. Hence, there is the need to integrate leadership and management skill so as to revive the economy of this firm, and save it from losing its credibility. A number of critical issues threaten Knight and Day Company in its leadership and management. There are several challenges that these two dockets need to address immediately in order to save the existing situation. One of the potential challenges in this firm is the labour resource. There is evidence of poor management and utilization of the labour force in this firm. To begin with, there is evidence of unskilled labour resource.In any given company, lack of skilled labour force is one of the major drawbacks in the labour resource. Unskilled labour brings out low productivity in the farm. Labour is one of the most significant and scarce resource in any company. Therefore, it is the duty of the management to oversee hiring of skilled labour to ensure that tapped labour resource can be harnessed effectively. This will provide optimum profits for the firm. In addition, there is evidence of loss of the already existing labour facility as the workers quit their jobs and take up alternatives out of this company.This is a major problem that can lead to failure of a company. This is because when the firm loses its laborer, it takes time to replace it through the recruitment process. This contributes to a large extent to the losses in a firm. The problem of labour resource management might require more allocation of resources such as time and money. In the process of reformation, there is the need to reform the labour resource through a recruitment process in order to have the required skilled labour. The recruitment process involves advertisement, interviews and even orientation of new employees. All these activities require financial support to implement. Moreover, skilled manpower requires that the salaries are moderated, and more specifically raised in order to avoid the massive departures of the employees from the firm. In addition, the whole process would require that the management sit in various sessions in order to provide a new set of development policies that would be used to regulate the labour force. This will require abundant time and also the use of money Another factor threatening the success of this firm is the poor co-ordination of the various departments and branches. For instance, the Los Angeles office operates autonomously from the rest of the offices in

No comments:

Post a Comment