Feasible To Explore In The Market Condition Essay

Question:

Discuss About The Feasible To Explore In The Market Condition.

Answer:

Introduction

Management is said to be the organization’s administration, it can be a not-for-profit organization, government body, or a business (Hendry, 2013). The management of the organization helps in arranging the production factors, accumulates and categorizes the resources, incorporates the resources in an operative way to attain goals (Appelo, 2016). This report is being presented in order to talk about the issues in the business management of Aqua-Tech Company such as staffing, and leadership and recommendations will be provided to solve those issues in the company that can be feasible to explore in the market condition.

Aqua-tech Company was established in 1981 and is the global leader in the sector of water purification technology for infrastructure markets and industrial market with a concentration of the desalination, reuse, zero liquid discharge, and water recycling (Aqua Tech, 2017). Venkee Sharma is the CEO of the company and headquarter is in Canonsburg, Pennsylvania. The company has its offices in North America and has a significant presence worldwide through subsidiaries in Europe, the Middle East, India, and China. The company is facing the issues in maintaining diversity in the business workforce and bringing innovations in the business. In order to improve those issues company needs to follow diversification strategy and expanding the business in other countries for employing people of a different culture that can help it increase its business and revenue.

Issues in Aqua Tech

The key strength of Aqua-Tech Company is its Research and development team which helps them in analyzing the areas where the company can put its efforts and provide its services effectively. However, the company lacks in maintaining diversity in the workforce of the business. This affects the company in maintaining innovations in the business. It is very essential for a business to have an innovation culture in the by leadership, improvements, and continuous education. The company is facing this issue because it only operates its business in North America which involves the almost same type of culture people that adversely affect the innovation culture within the organization.

Leadership is one of the approaches that support a business in gaining a strong position in the market, in order to have a strong leader within the organization is very important that can maintain the diversified culture and can increase the productivity of the company (Hancott, 2017). Besides this, the management function that can support in solving these issues is staffing. Staffing is the most essential management function. It is the procedure of filling empty place by employing the correct personnel at the correct task, at the correct time (Nims, Storm and Stevens, 2013). Therefore, the whole thing will happen in the correct way. It is the worldwide fact that human resource is the utmost parts of all the companies because in the company other resources such as machine, material, and money, etc. can be used competently and efficiently by the optimistic labors of the human resource (Turner, 2013). If Aqua-Tech Company maintains effective leadership in the organization that can motivate people from different locations can result in maintaining diversity in the workforce. Along with this, it can improve its management function i.e. staffing. External environment majorly affects this issue such as a Social factor of PESTLE Analysis.

According to social factor, the organization needs to work for the benefit of the environment and society which involves providing employment to the people that can help in generating income and improve the standard of living. Moreover, hiring people of different culture to increase the diversity and support corporate social responsibility of the organization.

Addressing of issues

Aqua Tech Company is facing the issues in maintaining workforce diversity in the organization because it majorly operates its business in North America which involves the people of similar culture. Having diversified workforce in the organization is very important in order to maintain the flow of innovative ideas. As personnel demographics change and global markets combine, the diversity of workforce becomes a requirement in place of a banner that is shown by the companies that they are a commitment towards acceptance differenced and change (Mayhew, 2018). Employees gain intangible and tangible benefits from the benefits of the workplace, and the least of which comprises respect form the teammates or colleagues and business gains.

Moreover, the company needs to manage its management function that is staffing. It needs to work hard to improve management function i.e. staffing into the organization and this can be done by hiring people from different regions such as Asia and Europe in all the branches of the company as hiring people from these areas is reasonable. Besides this, company can hire people from other countries also. The company can easily get skilled people at low cost. This will help it in maintaining the workforce diversity in the organization. Besides this, there will be an increase in the number of innovations due to the talent and skills of different culture people.

Aqua Tech Company can implement the type of leadership style i.e. demographic leadership. This type of leadership is also known as participative leadership in this group members take part in the process of decision making (Cherry, 2018). Demographic leadership helps in motivating the employees and increase the chances of innovation within the organization (Martin, 2016). If the company will implement demographic leadership it will be able to improve its image in the market can result in gaining the diversified workforce.

Conclusion

In conclusion, it can be said that Aqua-tech Company is one of the leading organization in developing the technology of water purifying with skilled and talented people within the organization. The company is expert in the process of manufacturing and research and development. The company involves its maximum time in researching, testing, and trialing. The above report has highlighted the issues that it is facing in the business environment i.e. the issue of maintaining diversified workforce within the organization which alternatively affect the innovation. The management function that has been identified is missing in the organization is of proper staffing which needs to be improved by hiring people from different regions such as Asia and Europe. Besides this, leadership within the organization needs to be improved by adopting an appropriate style of leadership i.e. Demographic Leadership to attract more customers and increase innovations in the organization.

Recommendations

  • By analyzing the above report it can be recommended that company should start hiring people from the Asian and European regions that can help them in increasing the workforce diversity within the organization and innovations. The company can do this by promoting the vacancies on online sites and website of the company. This will result in gaining the staff at low cost.
  • Aqua Tech Company only operates its business in North America due to this business is not able to increase its target market. If the company will expand its business in other countries this will help it in increasing the revenue, market share, and profitability in the long-run. Besides this, the company can increase its goodwill in the global market.

SMART Framework

SMART goals provide track ability and structure into the objectives and goals of the organization. This framework makes verifiable routes towards some objective, with simple milestone and an approximation of the attainability of the goals (Smart Goal setting, 2018).

Specific

In order to increase workplace diversity in the Aqua-tech Company, it needs to enhance its staffing techniques that can be done by hiring people from Asia and Europe.

The company can expand its business in various other countries and it will be easy for the company to do this as it a well-known company in the market.

Measurable

Improving staffing is a measurable strategy, this can be measured by the increase in the number of diversified culture workforce in the organization.

Expansion strategy can be measured by an increase in the revenue and market share of the company.

Attainable

Hiring diversified culture people is an attainable strategy as it can be achieved by promoting the job vacancy in Asian and European countries with the help of online media such as the website of the company and online job portals.

Expansion of the business can be done by initiating a joint venture with one of the companies that are already performing its operations in the target country.

Relevant

In order to increase workforce diversity in the Aqua Tech company, it has to improve its staffing function which is very much relevant to increasing innovations in the company.

Expansion strategy is relevant for the business to increase the work diversity and innovation within the business.

Timely

In order to increase workplace diversity into the Aqua-tech Company, it will take approx. 3 to 4 months of time to have effective and skilled people.

In order to expand the business in other countries, Aqua Tech Company will nearly take 2 to 3 years.


References

Aqua Tech. (2017). From Innovation Flows Leadership. Retrieved from

Appelo, J. (2016). Managing for Happiness: Games, Tools, and Practices to Motivate Any Team. 2nd edn. U.S: John Wiley & Sons.

Aqua Tech. (2017). Industries. Retrieved from

Cherry, K. (2018). What Is Democratic Leadership? Retrieved from

Hancott, D. (2017). Leadership Is What?: The Importance of Vision, Integrity, and Developing Others: The Importance of Vision, Integrity, and Developing Others. 2nd edn. U.S: Lulu.com.

Hendry, J. (2013). Management: A Very Short Introduction. 3rd edn. economics: OUP Oxford.

Martin. (2016). Democratic Leadership Guide: Definition, Qualities, Pros & Cons, Examples. Retrieved from

Mayhew, R. (2018). Why is Diversity in the Workplace Important to Employees? Retrieved from

Nims, J.K., Storm, P., and Stevens, R. (2013). Implementing an Inclusive Staffing Model for Today's Reference Services: A Practical Guide for Librarians. 2nd edn. U.S: Rowman & Littlefield.

Smart Goal setting. (2018). SMART goals. Retrieved from

Turner, K. (2013). Start Your Own Staffing Service: Your Step-By-Step Guide to Success. 3rd edn. U.S: Entrepreneur Press.

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