A Road Map for Successful Downsizing of a Business or Corporation
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This paper examines business/corporate downsizing by taking a closer look at transition plans, targeted change and morale and motivation.
From the Paper:"History has shown American businesses that a rush into downsizing their workforce often achieves moderate success in the short-term followed by negative results and decreased efficiencies in the long run. Downsizing is often forced upon companies in order to stay competitive in the global economy. Or, it could be a voluntary decision by a company to reduce costs and overhead in order to increase shareholder value. Regardless of the rationale behind a company’s decision to downsize, there are certain guidelines or tips that companies can follow to increase the chances of success. These guidelines have been learned over history by researching companies that have been successful in downsizing their workforce. Three guidelines that I believe are important to a successful downsizing are: 1) Companies should have a transition plan in place to help fill gaps, 2) The downsizing should be a systematic, targeted change that reduces inefficiencies, and 3) Employee morale and motivation should be addressed head on."
Cite this Essay:
A Road Map for Successful Downsizing of a Business or Corporation (2003, February 11) Retrieved September 20, 2020, from https://www.academon.com/essay/a-road-map-for-successful-downsizing-of-a-business-or-corporation-4753/
"A Road Map for Successful Downsizing of a Business or Corporation" 11 February 2003. Web. 20 September. 2020. <https://www.academon.com/essay/a-road-map-for-successful-downsizing-of-a-business-or-corporation-4753/>