Challenges managers face in companies
Managers are the foot solders of directors in a company any happening or event must be recognized by the managers. Any loss or tragedy that befalls the company is usually taken to be the manager’s fault. According to (Punch 2014) the Power Holding Company of Nigeria was privatized and the lead reason was managers. Managers are faced with the task of always achieving a stretch goal by being aggressive .The new CEO of Apple Tim cook apologized after the company promised that the Maps application would be ready. His dreams were shuttered after the internet was outraged about the mapping errors prompting him to apologize (Nnodim, 2014).
Manager should ensure constant improvement through change in process, embracing new technology embracing change in owner. In PHCN the privatized firm that took over wanted to change its operation to technological thus would retrench people as they would not have any work to do. Large organizations manage performance and provide feedback thanks to online applications Apple has not embraced the evolution and it would be better if they would purchase twitter and integrate it to IOS5 and it would take advantage of the evolution. This is also done by keeping up with technology especially with growth of new devices everyday and managers should instill constant improvement in all employees. Managers should also foster next generation talent to get better success rate as they are the future.
Responding to a crisis
In PHCN there was the striking loom that would cause a shutter in the production industry. Managers should find alternative solutions to beat such occurrences. The crisis in Nigeria was brought about by retrenchment policies that would cause 40,000 employees to be jobless. Managers should have organization plans that will response to change in the environment conditions such as strikes. Creative management should anticipating the trend, companies should spot potential customer groups and new channels of distribution that would improve sales and new technology that make company more efficient to reduce such instances.
Employing the right employee
Private investors who took over the company also required labor personnel who had experience in the power field. The reason for retrenchment was to hire personnel who could perform work, with qualification in the energy industry. Human capital management is a challenge that the human resource goes through. Constant change in the technology field needs skills from employees and constant training to enable them adjust to change. Online human resource services such as cloud based services can provide much higher security than paper kept in file cabinets which Apple Company adopted. The traditional interviews are not practical anymore and managers should adapt technology.
Managers are faced with the task of allocating resources to ensure success rate is constant. Human resource was lacking in the Nigerian industry as they retrenched most of their personnel. They required recruiting more individuals to be given roles and responsibilities. Resources should not be wasted but choices have to be made to allocate the financial and human resource. Financial resource should be allocated to major departments to develop products that would improve a company’s profit ratio. This can be done by controlling costs and identifying opportunities to build profitability in equities
Nnodim O (2014, 04 23) Strike looms in power firms over job losses. Punch
Connor, T (2014) how are you handling the five biggest challenges facing managers and business owners today? Employee Performance