Engineering managment Essay Example | Topics and Well Written Essays - 1500 words

Engineering managment - Essay Example It also facilitates growth of the company’s telecommunication and financial services. Moreover, data mining has improved in Luscombe’s period and customers’ buying habits are better examined to customize the organizational policies according to them. There has occurred a general improvement in the standards of the store. Weaknesses: In the 8 year reign in which Corbett served as the CEO of Woolworths and his policies resulted into the increase in the returns of shareholders by 300 per cent. On the contrary, the policies implemented by Luscombe since 2006 have increased the return of shareholders by no more than 40 per cent in the whole 5 years. Thus, the competition is between 8 years and 5 years of governance, and 300 per cent and 40 per cent of increase on the return. This clearly speaks of the fact that the strategies implemented by Corbett as a CEO were more conducive for the increase in shareholders’ return as compared to those of Luscombe. Although t he organization has overall remained in profitability in Luscombe’s period, yet much of this can be attributed to the long term effects of the rational policies of Corbett instead of the policies adopted by Luscombe. Opportunities: Woolworths has conventionally managed to attract a large volume of talented young candidates for employment. Woolworths provides its workforce with training over a vast range of disciplines in order to improve their competence and inculcate sound management skills in them. It is the very training that is one of the cardinal reasons of success of Luscombe in his management of the company. Luscombe has served in Woolworths for 28 years, in which he received training and polished his skills on various levels as a manager. On job training is one of the most attracting characteristics of an organizational culture for the employees because they avail it as an opportunity to enhance their skills and become an asset for the organization. Having received th e training, they feel their skills improved, which offers them a feeling of assurance that their job is secure. They know they are better positioned to fulfill the needs of a particular business and hence, have both job satisfaction and job security. Threats: Corbett had maintained a culture in which all employees made their best effort to enhance the company’s profits and reduce the costs. However, Luscombe does not approve of the fact that employees work for as many as 12 hrs and sometimes even more than that. He thinks that the staff is putting in unnecessary effort to make the business profitable. Luscombe needs to realize that it is the same work pattern that had increased the return on shareholders’ investment by 300 per cent and that had doubled the revenues to $ 36 billion. The rate of increase in the return of shareholders’ investment has already decreased more than 3 times what it was in Corbett’s period. The current strategy of Woolworths: Curr ently, Luscombe is the CEO of the company. Luscombe is a very open and easily approachable kind of CEO. He has maintained very open relations with the senior management as well as the staff of the company. His attitude with the company staff is quite friendly, and he encourages team work. During his reign, all of the personnel of the company have united as a strong team. The staff is making all efforts to comply with the instructions of Luscombe. Their compliance has recently caused the