Essay on "Business Management Case"
Essay 4 pages (1412 words) Sources: 1+
[EXCERPT] . . . .
Business Management CaseOver the last several years, globalization has had a profound impact upon the transportation industry. Where, it has created a number of unique challenges for a variety of tour operators. A good example of this can be seen by looking no further than the Irish Ferry company Continental Group. What happened was the company reported a 25% decline in revenues during 2009. (Irish Passengers Numbers Down 10% 2009) This is problematic because they are wrestling with a number of different issues that are causing it to face a variety of challenges going forward. This is significant, because it underscores a trend that has been occurring with many European Ferry operators. In the case of the new company that is being established, there will be obvious challenges that must be dealt with. To fully understand the overall scope of these challenges requires examining key issues that are relevant, in the areas of: strategic human resource management and financial resource management. Together, these different elements will provide the greatest insights, as to how the new company can overcome the challenges in the industry, to become a profitable business venture.
Strategic Human Resource Management
The biggest human resource issue that is going to be faced by all ferry operators is labor costs. Given the fact that the company is going to be traveling, between Dublin and three major European shipping ports, means that labor costs will be something that must be accounted for. The problem is being able to strike a balance between using unionized workers and the less expensive, Eastern European-based crews. In this situation, you have the Irish lab
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A second issue that is tied to the cost of labor is total hours worked. In this case, many of the non-unionized crews are willing to work well beyond the required number of hours under the law. This problematic, because many ferry operators are tempted to use this group of people, as a way to maximize profits, while keeping their labor costs low. A good example of this occurred with the Irish Ferries ship MV Normandy, where the union crew was replaced by a non-unionized crew that would work 12 hours per day (including holidays) with no extra pay. As a result, the dispute would end up before the European Commission. This is significant, because it shows how ferry companies will have to wrestle with the issue of hours and holiday pay. As they struggle with, trying to determine how to increase hours beyond the traditional union hours, without creating a major labor dispute. Since the cost of labor and the number of hours worked are interconnected, means that some kind of balance must be achieved, to have sustainable growth. (Pressure Grows for EU Ferries Directive to Combat Social Dumping 2005)
Financial Resource Management
The biggest financial challenges that will face the company are: its exposure to the economic cycle and… READ MORE
Quoted Instructions for "Business Management Case" Assignment:
A group of investors have hired a professional market research company to establish the viability of setting up a ferry company to operate out of Dublin to three European shipping ports. The results of the market research are positive and the investors have hired you as Managing Director of a new company to prepare for the launch of this new venture.
Discuss in detail the management issues that you would likely encounter and how they could be overcome. It is essential that the following areas are addressed
1. strategic human resource
2. financial management
the essey should be include introduction and conclusion
How to Reference "Business Management Case" Essay in a Bibliography
“Business Management Case.” A1-TermPaper.com, 2010, https://www.a1-termpaper.com/topics/essay/business-management-case/98856. Accessed 4 Oct 2024.
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