Experiencing failures is nothing but normal Essay
Experiencing failures is nothing but normal
Experiencing failures is nothing but normal. As long as there is hope, every failure can be a root of another try and success. Listed are some things that can be done to avoid 1. ) Learn from the Past Have some time to bring back the past and learn from the mistakes that have been committed. Work hard to gain the respect and trust again. Before committing anything, Plan well first.
A risk management is a good tool to plan ahead of time and be ready in case of different emergencies. a.) Risk Management – is the human activity which integrates recognition of risk, risk assessment, developing strategies to manage it, and mitigation of risk using managerial resources. The strategies include transferring the risk to another party, avoiding the risk, reducing the negative effect of the risk, and accepting some or all of the consequences of a particular risk. Companies should be alert at all times. Certain emergencies may arise and if the company is not ready, it will surely be a big problem.
Risk Taking is also a part of business but big decisions must be done with certain risk management strategies. 2. ) Listen Listen to the people who are concerned to the company. Conduct meetings regularly and ask for the advice of good and trustworthy people. These are held for many reasons and most of the time, it is done either to inform or consult. Meetings can be done through the following: a. ) Management Committee Meeting – This kind of meeting is preceded by the head of the company and/or the members of the top management who are concerned with a certain issue that must be talked about.
b. ) Public Meeting – This meeting is held with a group of people usually with the employees. This is also to discuss about certain issues that has a big effect to the company that the whole company must talk about it. It can be an issue on policies and procedure, deadlines, audit results and more. c. ) Annual General Meeting – This yearly gathering of employees and business heads is done mostly to inform all employees about the overall situation status of the company for the year, possible improvements, and target goals for the next year and other issues.
Please always be reminded that all meetings must be documented and all the attendees should have a copy of all that what was discussed during the meeting. 3. ) Conduct Audits Do audits to ensure the performance of the company, the products, customers, suppliers and the workers. This can be done in a weekly, monthly or yearly basis. Whatever the results are, document everything and conduct studies in all the audit results. This will help the management’s decision making during meetings.
Audit reports may come from people who works in the company and from people outside the company. Here are some audits that the company may use to see the vitality of the company: a. ) Performance Audit – A Performance Audit is done by the Human Resource Department to check the capabilities of its workers in its work. It a part of a company’s improvement way for the employees to see if they performed better than the last month or year. The result of these audits affects an employee’s personal record to the company, its reputation, salary and possible promotion or termination.
Because of this audit, employees will be inspired to work better to have good performance audit results from their supervisors. b. ) Product Audit – is an assessment tool to evaluate the final product or service and it’s ‘fitness for use’ evaluated against the intent of the purpose of the product service. This measure the quality of the products being produced by the company to ensure customer satisfaction. It includes series of test to see if the products are durable, safe and marketable.
c.) Customer Audit – This audit is a survey used to measure the customer’s satisfaction towards the product of the company. Using this audit can make a company know a new way on how to establish good customer relationship to the company, Highlights leadership, manage customer challenges in the future and deliver scientific measurements to enable improvements d. ) Supplier Audit – Supplier Audits are used to measure the capability of the suppliers to give the company the materials that it needs to have a quality product on time for delivery.
It comprises of the study about the audit process, labor standards, discrimination, freedom of association, employee treatment, compensation, working hours, working and living conditions, the health and safety of the supplier at the environment of your company and more. It aims to know the supplier more and have a healthy working relationship with them. Aside from the audit of the supplier to the company, a supplier audit done by the company to the supplier is also done to ensure proper balancing of the audit report.
It includes the measurement of the performance of the supplier to meet the standards of the company, its professionalism towards work, demands, payments and more. e. ) Sales Audit – This include a careful audit done by the finance department to see if the company is doing well with its sales in the market or not. It is also a tool for doing sale forecasting for the company. Certain issues are tackled in this audit such as the functional effort of the company to develop sales, Evaluate and comparison of the current sales performance from the last audit and the different product status of the company in the market.
4. ) Save As a lesson from failure, do not over invest to something that is not important. Save resources, save money, save time, save energy, save everything. People in your company should have a concern in the financial stability of the company. They should have the concern to buy things with the best value and a reasonable price. The culture of some people to buy expensive materials for the company to use without minding the money is not from them personally must be changed.
University/College: University of Arkansas System
Type of paper: Thesis/Dissertation Chapter
Date: 17 May 2017
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