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Shackleton Pty Ltd is a large-scale business producing and installing state-of-the-art security systems - VCE - SSCE Business Management - Question 3 - 2014 - Paper 1
Question 3
Shackleton Pty Ltd is a large-scale business producing and installing state-of-the-art security systems. Its headquarters is in Melbourne and it has numerous offices... show full transcript
Worked Solution & Example Answer:Shackleton Pty Ltd is a large-scale business producing and installing state-of-the-art security systems - VCE - SSCE Business Management - Question 3 - 2014 - Paper 1
Step 1
Define the following performance indicators.
Answer
Performance indicators are measurable values that demonstrate how effectively a company is achieving key business objectives. In this context, two important performance indicators include:
- Percentage of Market Share: This refers to the proportion of an industry's sales that a particular company controls, providing insights into how well the company is competing in the market.
- Number of Customer Complaints: This represents the count of complaints received from customers, indicating potential issues with the company's products or services and customer satisfaction levels.
Step 2
Discuss a management style that would best suit Zac in overcoming the drop in productivity that he has identified.
Answer
A management style that would best suit Zac is the participative management style. This style emphasizes collaboration and the inclusion of employees in decision-making processes. By involving staff in discussions about productivity challenges, Zac can foster a sense of ownership and accountability among employees. Encouraging feedback and ideas can help identify root causes of the productivity drop and motivate employees to contribute solutions, leading to improved efficiency and morale.
Step 3
Identify and explain two management skills that Zac could use to address the issue of customer complaints.
Answer
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Communication Skills: Effective communication is essential when addressing customer complaints. Zac can enhance interactions with customers by listening actively, understanding their concerns, and ensuring clear communication on resolutions. This will help build trust and improve customer satisfaction.
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Problem-Solving Skills: Zac needs to implement strong problem-solving skills to identify the root causes of complaints. By analyzing customer feedback and patterns, he can develop strategies to resolve these issues and prevent future complaints, thus enhancing overall customer experience.
Step 4
Identify and describe an appropriate management structure for Shackleton. Justify how this management structure best supports the organisation.
Answer
An appropriate management structure for Shackleton would be a functional management structure. In this setup, the organization is divided into departments based on specific functions, such as production, sales, marketing, and customer service. This structure allows for specialization, where teams can focus on their expertise, leading to increased efficiency and effectiveness.
Justification includes:
- Clarity in roles: Each department has clear responsibilities, helping to streamline operations.
- Enhanced productivity: Specialization can lead to improved performance as team members develop expertise in their areas.
- Communication efficiency: Departments can collaborate effectively, addressing issues like customer complaints more swiftly.
Step 5
Explain two ways in which Shackleton can ensure that it is operating ethically in terms of the impacts on its stakeholders.
Answer
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Transparent Reporting: Shackleton can ensure ethical operations by maintaining transparency in its dealings with stakeholders. This includes regular disclosure of business practices, financial status, and impact assessments that affect employees, customers, and the community. Such transparency fosters trust and encourages stakeholder engagement.
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Sustainable Practices: By integrating sustainable business practices, such as using environmentally friendly materials and fair labor policies, Shackleton can demonstrate its commitment to ethical values. This not only aligns the company with stakeholders' values but also enhances its reputation and market competitiveness.