Rob also examined the external industry trends and made a comparison on the employee turnovers. He conducted
Question:
Rob also examined the external industry trends and made a comparison on the employee turnovers. He conducted an analysis on the turnover ratio to determine the ratings to Victory Private Hospital within the industry. The result from the analysis depicted that the employee turnover was a serious issue as the organisation was experiencing a steady incline in the employee turnover ratio whereas the industry standards were static, and the turnover ratio was almost 2:1.
Rob is also required to use internet and research these trends.
Rob reviewed the organisational chart to identify the managers that will be affected by change and manager that will participate in the change project. After the identification, he arranged meeting with the stakeholders and the managers (Finance manager, HR manger, contact centre supervisors) and decided that all the meetings will be focused on the same agenda and the meetings will be conducted separately as he believes that the change requirements are different for each group. Rob also believes that if they are successful in achieving the operational and strategic plan, it will further cement their place in the organisation and would benefit the organisation to grow in the market and maximise the profits. The company will also have an opportunity to increase the market share percentage.
After completing the meeting, Rob will consolidate all the information and feedback to determine the position of the organisation and prepare a report for the identified changes.
Based on the given case study, you are required to take on the role of Rob and prepare a report that must include the following:
Identify the strategic change requirements analysing the organisational and strategic plan.
o Identify the strategic requirements
o Identify what changes are required
o Identify what the organisation is trying to achieve
Foundations of Financial Management
ISBN: 978-1259024979
10th Canadian edition
Authors: Stanley Block, Geoffrey Hirt, Bartley Danielsen, Doug Short, Michael Perretta