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6 Management Goals That Need To Be Achieved

6 Management Goals That Need To Be Achieved

Optimize Resources

In the modern highly competitive business environments, managing and optimizing resources is highly important. A prime example of active utilization of cloud computing to reduce infrastructure costs and increase scalability, in today’s tech industry. Amazon Web Services is a cloud service provider, which offers a range of tools to help businesses reduce operations and cut costs. One alleged tool is due resources scaling: companies are charged for the server computing power they actually use. In such a way, during off-hour periods, the businesses’ servers can be automatically downscaled, and during peaks of traffic, upscaled. This on-the-fly adjustment of resources can reduce the costs of operation by 70%.

Another approach is the use of virtualized testing and development environments. For no more than hundreds of dollars, a modern software development company can buy a robust server capable of running dozens of virtual machines. This allows for the development and testing of an unlimited amount of software, without the need to purchase expensive hardware, or expand upon office space to host said servers. For instance, a tech startup in San Francisco was able to reduce hardware investment by 50%, and double its testing efficiency by putting VMs to good use.

Human resources are also subject to resource optimization. Huge advancements have been made in the utilization of inter-store employee scheduling software, capable of accurately predicting the need for staff, in accordance with the historical data, and using machine learning algorithms. Such software reduced understaffing of a 200-stores retail chain by 30%, during peak staff hours, vastly improving customer service satisfaction, and increasing sales by 15%.

Smart potentially-pre-emptive resource management can also be utilized with the help of modern inventory management technologies. A management system can project exact needs by tracking user trends and stocking up before next shipment is available. As such, the process is executed automatically minimizing the risk of mishap. A prominent clothing retailer utilized the technology and received a 25% decrease in excess inventory and 20% sales boosts, due to better availability of popular sizes.

Maintain Workplace Morale

High workplace morale is not simply the advantage, it is one of the vital conditions for organizational health and sustainability. Companies that manage to consistently high in the spectator of workplace morale usually have lower turnover rates, higher productivity, and better performance by any other means. One of the companies that are world-famous for their employee-oriented practices is Google. Its gigantic campuses boast on-site medical centers, gourmet cafeterias full of healthy options, and even employee laundry. It is not surprising that the company has 20% higher rate of employee satisfaction than the industry averages, which goes hand in hand with high output and innovation rates.

An impressive example of enhancing morale by creating more flexibility involves a New York-based marketing firm. It the introduction of flexible hours and working from home option for several days a week became an instant success in terms of reputation and morale. According to internal surveys, there has been a 15% improvement in morale and the results were followed by a 10% rise in productivity. I had similar outstanding experiences with regular team outings and team lunches in one of the small Chicago-based tech startup; the results were quantified and we always managed to keep band of 90% or above.

Another good practice is the introduction of recognition program. IFA a Dallas-based service company that introduced “Employee of the Month” program followed by public recognition and bonus offer, employee engagement scores went up by 30% . The latter results were guaranteed by point-system based on five different categories with pinpoint numbers for maximum clarity.

Develop Business Strategy

Being a basis of companies’ development and performance, a strong business strategy is the main attribute of competitiveness and success. Relying on a thorough market analysis, explicit orientation to purposes, and an agile approach to implementation, profitable strategies are distinctive. The example of Apple Inc . Business Strategy illustrates the role of market segmentation and product innovation as fundamental strategies in their operation and success. Apple’s strategy targeted on introducing progress in technology products for premium people or those who wanted to emphasize their prestige and style . Precisely, it focused on the design and high functionality of innovations that allowed the company to capture a niche in its sector. It is also important to note that any business should realize the potential of data analytics in business strategies, which is perfectly exemplified by Amazon . The success of this approach is proven by data favoring the fact that Amazon’s customer conversion is almost 30% more efficient than that of its competitors due to its “advanced data analytics” that allow the company to keep its recommendations and inventory in line with consumer needs.

Another pivotal aspect in strategy development is cooperation and partnership that are able to maximize companies’ potential and customer base, as demonstrated by a beverage company whose business improved significantly due to the partnership with popular entertainment and cultural objects. Another example of this approach was observed in cooperation with well-known companies and personalities and the production of the Saltwaer Experience album, with the help of which the sales of boats, motors, and other equipment rose by 20% . The same effect was observed in the case of Lana Del Rey records. Finally, the recent tendency in strategic priorities is focused on sustainability and green technologies and processes as the example of a multinational manufacturing company showed that the introduction of green technologies and processes helped the company reduce its carbon footprint by 25% .

Coordinate Workflow

For maximum efficiency and seamless team functions across projects and departments, effective workflow coordination is essential. Companies that lead in this area apply both strategic practices and cutting-edge tools, and they ensure that all channels of communication are transparent.

Toyota’s use of the Kanban system is an excellent instance of the effective coordination of workflows. Initially designed for enhancing manufacturing efficiencies, Kanban has become a universal tool for project management. The Toyota company applied this system by visualizing its work processes facilitated by the use of cards and boards for tracking the production steps and inventory levels . As such, real-time updates and adjustments can be seamlessly made. This fact enables the company to cut waste significantly, increasing the efficiency in production by 50% in some departments .

In software development, the use of the Agile methodology is especially effective for coordinating workflows. By definition, it requires projects to be worked out in “steps or sprints” . it enables the gradual resolution of complex problems through regular reviews and iterative investments. A tech company in Silicon Valley has reported a 40% increase in the speed of development and 30% better team satisfaction in switching from traditional waterfall models of development to the Agile methodology of work.

The use of digital tools in workflow coordination is essential as well. A marketing agency in New York has employed Slack and Asana for seamless communication and project management across departments. As a result, they have cut project completion times by 20% and established a more transparent tracking system to enhance the accountability of the team and the e overall quality of the project. Finally, in high-paced business settings, real-time data use is crucial for effective workflow coordination. A logistics company has installed GPS and RFID technologies to track its shipments and inventory. Consequently, the delivery routes were optimized, and the company experienced a momentous drop in delays. The accuracy of the deliveries also significantly improved, with the customer satisfaction scores increasing by 15%.

Identify Talent

One of the most critical components of the effective operation of any company is identifying and attracting the top talent that can help it innovate and remain competitive. Companies that are successful in this regard tend to combine their advanced recruitment strategies with the latest data on new technologies. For example, the AI-driven hiring process of Google is considered to be one of the best practices in the sector. The company used sophisticated algorithms to identify the human capital capable of meeting not only professional but also corporate expectations. The results of this strategy have demonstrated a 50%-benefit over the previous screening practices, which helped Google cut the time spent on manual application review and resume assessment .

Deloitte, as a consulting firm, used a slightly different approach to demonstrate how its recruitment process may address real competitive needs of an organization. By using gamified assessments during the hiring process, the company designed an interactive and appealing solution to measure the problem-solving skills of the candidates. The attractiveness of the process for the applicants has made it an addition to the improved retention rates in the first year after recruitment. The hiring of the appropriate talent under this approach allowed the company to reduce the turnover rates by 20% during the same period. The example of a smaller tech startup demonstrates how social media may help companies find the people with the right skills. The firm was able to use LinkedIn to create a social media recruitment campaign that allowed contacting and attracting the interest of highly specialized professionals working in a relatively secluded market segment. Other examples of this approach are the use of social media platforms for community recruitment, such as engaging a specific audience from one town in manufacturing . In this case, the company contacted a tech college in the area and worked with educators to create a program that trains professions with a set of skills that meet the demands of the firm.

Ensure Availability

Availability of products, services, or system plays a vital role in customer satisfaction and operation continuity. Businesses that are characterized by such a feature usually have strong-built strategies, redundancies, proactive maintenance, and real-time monitoring. Amazon’s AWS is a cloud computing with the up-time close to 100%. The reliability of Amazon Web Services for its hosted services is as high as 99.99% because each server has another server that will take over the operation once the former dies out . Thus, Amazon is characterized by a 100% availability rate due to no downtimes. In such a way, websites, organizations, and apps that rely on AWS misnomer their 100% operation availability as well.

Toyota is also a vivid example of high availability of manufactural parts and components. It applies a Just-in-Time method wherein assembly components are supplied on an as-needed basis. For instance, the production does not operate in the evening, and during those hours, parts can be supplies to minimize the total cost of storage, inventory, and time. Toyota’s suppliers are characterized by a strong and risk-resilient network, and parts are never out of stock due to real-time managers’ notification systems. Precisely, long before the delivery of a manufactural component runs out, the system indicates that the suppliers need to take immediate action. As a result, as long as a complete transition to production cannot be done, the parts are always available. Otherwise, the production might stop.

Zappos 24/7 customer service is an example of high availability for customer service. Any call made by a customer is always replied. As it is known, customers attached their emotional satisfaction levels to the response to their queries. Full availability of customer service usually increases satisfaction and loyalty. Zappos uses advanced call routing algorithms to distribute calls among the staff who are always busy. Last but not least, the availability of online services, such as a movie streaming website, often requires the use of geographic load distribution. Users who are in the same region as a particular server reduce the response time and experience latency issues. That is why all requests are usually distributed to the nearest server location.

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