Got a tricky question? Receive an answer from students like you! Try us!

Effect of the Economic Downturn on a Manufacturing Company - Essay Example

Only on StudentShare
Masters
Author : lueilwitzjoesph
Essay
Marketing
Pages 6 (1506 words)

Summary

This essay talks about the effects of the economic downturn on a manufacturing company, the demand for their products had fallen to the point that they had to cut down production. This meant shutting down the less productive plants and selling off some equipment…

Extract of sample
Effect of the Economic Downturn on a Manufacturing Company

The essay "Effect of the Economic Downturn on a Manufacturing Company" talks about the economic problems in a manufacturing company and analyzes the actions of the management's team. The union, the main company's problem which strongly opposed the layoff of any employee, happened to guarantee their members job security, which was the main reason that nearly all the workers had joined up. A number of alternatives were suggested by managers during a brainstorming session, the most extreme being to lay off twenty percent of the workforce permanently. The least disruptive was to retain the full complement of employees and merely schedule them on a revolving four-day work week until the crisis is over and the company can return to full production.
The management eventually decided to reduce the working hours of each production worker instead of laying off employees. They felt that dismissing workers from their jobs would be too disruptive, and before they could do so they would have to meet with the union members and negotiate who should be dismissed, according to the terms of their collective bargaining agreement. They expected stiff opposition and a possible court case if they were to insist on laying off people. Unfortunately, when the decision was implemented, many of the good employees lost interest in their jobs and filed for resignation when they were offered better-paying jobs by a competitor firm. The final decision achieved the objective to reduce labor costs by twenty percent. ...
Download paper

Related Essays

Book Review
Stephen Covey in the light of the aforesaid point tends to highlight seven main Habitual Features in his book ‘The 7 Habits of a Highly Effective Individual’ that should be ingrained in a person to thereby help in the construction of the Effective Individual. Habit1 The first habit relates to suggesting an individual to be Proactive and not Reactive to the events or occurrences in the surrounding environment. This behavioral change can be developed by the individual in endeavoring to build one’s own ‘circle of influence’ through focusing on enhancing the accessibility to people and…
consumer behaviour - Individual Report: observation of consumer shopping/browsing behaviour.
Some of the eminent scholars portrayed the fact that the study of consumer behaviour is about the evaluation of a consumer and whether or not they get influenced by their family, relatives, society, friends and other reference groups. Thus for an origination to cater effectively to its target audience, it is essential to carry out an in-depth analysis of the consumer needs and wants (Hoyer and Macinnis, 2008, p.3-4). Although a lot of research has been carried out in this field of study but there are hardly any accepted theories that scientifically and clearly underline the buying or…
8 pages (2008 words)
Cisco Review
While many things in the building of a brand is same, building of a brand that supports business to business or brand to customers has slight differences. In building of a brand in business to business context, the priority shall be mainly given to making a strong bonding with the business of the client and in order to make one’s brand to be seen as the most popular choice and the safest brand to do business. In order to build this perception in the mind of the client brand shall aim at building strong and lasting personal relationship with the customer. Instead of going for mass marketing…
3 pages (753 words)
Book Review
Therefore the author tries to bring out that the use of these social tools has significant importance in improving business operations and more importantly creating your own social nation and individual, manager or a team leader. The book is generally written on the marketing, business and economics point of view. In these identified perspectives in which the book is written a social assessment of employees, managers and leaders is provided where they can evaluate scientifically their personal competencies and social skills. The author brings a conceptual framework of this relying on…
6 pages (1506 words)
Advertising review
This promotional tool is thus utilised by companies with the objective of creating better awareness among customers in the market segments in relation to their products and/or services [1] (The University of Sydney, 2013). Coca-Cola is a world-renowned beverage company established in the year 1986 that has been operating quite competitively on a global context. The company is perceived to be executing its business activities in beyond 200 countries currently. Moreover, the company is recorded to be offering around 500 brands to its consumers in the worldwide market. In its marketing tactics,…
7 pages (1757 words)
article review
The article focuses on the point that the imagery advertisement has far more result producing than verbal form of advertisement. The article also pinpoints on the product evaluation factor in advertisement as it reveals the attributes of a product to the consumer. The author here is trying to put the fact in the mind of the reader that image fluency is the right way to trigger expectation and dreams in the mind of ad viewers. The article propagates that advertising narratives and mental stimulation are essential factors in advertising. However, highly imaginary advertisement can dilute the…
Book Review
Context 1 Globalization as a Problem At the first, the author comes out argumentative towards globalization. The author describes globalization as a problem only because it is something, which is being mismanaged by institutions (Stiglitz). The author arguments that international institutions such as the World Trade Organization, the International Monetary Fund or the World Bank have made poor organizations poorer. It is because the benefit has been transferred to the developed nations and because the institutions have prioritized profits over environmental health, the peoples’ lives in the…
5 pages (1255 words)