The first thing to do is establish why specifically the company has been losing money. There are many reasons such as low quality products, low demand of the products in the market, outdated versions and also the high competition from the other corporations. Usually, people are ready to pay extra if they get the quality product, as it will serve them longer and the payoff will be reasonable. A close examination of the production would be a primary goal. There has to be a person directly in charge of the quality inspection and the position for the employee should be highly paid, as everything depends on quality. I would put up a team of researchers who will take a close look at the market and study the current trends. It is crucial to know how the public views the products and the manufacturing company.
Corporate America became too selfish and self-centered. The senior management takes advantage of the public and its inability to control the corporations and their regulations. This gives management great power and freedom of action. The relations with the customers and general public must be greatly adjusted. I would devise a department that controls and manages the customer service and would monitor it personally. Also, I would set up a system where customers could provide direct feedback, on-line, in-store or via mail. All the propositions will be directed to me and I will change the business plan and production according to the public criteria.
Most importantly is that the employee must be knowledgeable and intelligent. They must know a great deal about their job and what is required of them. The second attribute is they have to be imaginative and skilled. This would provide individual input into the company and better the existing products or services. They have to be confident in themselves, so that when a critical situation presents itself, they can find a way out or propose a solution. They have to be responsible and dedicated to the job. It is important that they feel the ownership of the company or service that is provided, so that they consider it their direct duty to provide a high quality output. And the fifth attribute is they have to be fair and free of any judgment. It is crucial that the work environment is friendly and easy going because in case there is a negative atmosphere in the workplace, the job itself becomes extremely hard and dissatisfying.
The close relationship between the management and employees goes a long way. A good manager must know the unique qualities of each employee and support or adjust the environment to their personal skills. Each employee should have a chance to voice their opinion and not be afraid of termination or other punishment in doing so. The momentum will be kept by constant communication with the workers, both in the office and in the production area. If the manager is too busy with the organizational matters then, there must be a person who gets to know the employees and supports them in their goals and plans. Another way to keep the employees in good relationships is to have corporate meetings that are laid back and entertaining where people can relax and talk about work or about their life outside of work.
A person should always be rewarded for past and present performances. It gives an individual a chance to feel appreciated and respected. The future potential should be supported and admired. If someone is working on a project that is prosperous for the whole company, they should not be denied resources and the management should make it clear that their work is very valuable to the company. Even a slight increase in pay or a bonus will make a person pleased and supported.
The time and effort that a person puts into the company should be greatly valued. Seniority should be a must and the salary increases, according to the years put in. But more importantly there should be a guarantee against termination until the person retires. It seems unfair that after so many years of work the person is let go simply because there are younger and more appealing employees. The second thing that should be implemented is more leniencies in the dress code. Those professions that are in the public eye should have an order in their uniforms but organizations that work in buildings and warehouses should have more freedom. Of course, it should not become a safety concern or an outrageous freak-show but a person must feel comfortable in what they are wearing, thus their productivity will increase. And the third improvement should be a lesser separation between the employees and the management. The names and duties of the positions should be changed and the employees should be given more ability to decide what is right for the company. They are directly involved in the work and very often they are more aware of what the company needs than the management.