Running head: PROBLEM SOLUTION: GLOBAL COMMUNICATIONS
Problem Solution: Global Communications
Problem Solution: Global Communications
Decision-making under conditions of risk and uncertainty is a crucial aspect of managing an organization. (Gomez-Meija 2002) Good decisions facilitate organizational effectiveness; bad decisions hinder effectiveness and result in poor performance and negative attitudes at all organizational levels. (George & Jones 2005) Because of market volatility increased competition and pressure from Wall Street, it has become imperative that managers make creative and optimal decisions that set their organization apart when faced with challenges.
Global communications like many 21st century companies was under tremendous economic pressure, having watched shares of its stock lose more than 50% of its value on Wall Street. The company was struggling to hold up in the face of stiff competition, reduced profitability, decreasing customer base and negative Wall Street sentiments. The company devised a plan to reduce cost and realize growth by broadening the range of services, increasing technological sophistication and reducing cost through outsourcing and layoffs.
However, the company is facing many serious problems that are impeding the success of this plan. Employee dissatisfaction, lack of inter-company communication, and lay-offs are just some of the barriers keeping Global Communications from meeting their profit margins goals. In the following paper, we will examine these problems and their possible solutions. This paper will assess these solutions by evaluating their effectiveness and relativity as well as identifying their risks. A plan will be constructed and its outcomes determined. Using benchmarking techniques, we can estimate the effectiveness of these solutions by comparing them with other companies.
Finally, we will evaluate the results of our solution. The successful transition of Global...