Corporate Governance Influence On Efficiency

Wannaburger’s Human Resource Department

Discuss About The Corporate Governance Influence Efficiency.

The human resource department is the center of every organization because it is the department that provides employees who are critical to the daily operations of the firm (Kristina & Wijaya, 2017). The department carries out activities such as hiring and firing of employees, remuneration, the provision of company rules and regulation, and performance appraisal (Shyamala, 2018). It, therefore, ensures that employees are placed in the right department, and their performance is evaluated against a set of key performance indicators to determine if they are adding value to the organization (Haberberg & Rieple, 2001). Therefore, to ensure that it succeeds, Wannaburger needs to have a human resources plan in place.

At Wannaburger, the company is divided into three principal departments. These are the human resource management department, the supply, and logistics department, as well as the food production and service department. When the human resource department hires different personnel, they are sent to various departments based on their skill sets and the organizational requirements.

The human resource department has three employees who work together to ensure that all organization activities are running smoothly. The head of the department is Ruth Khan who works together with Janet Miller and Jackson Stewart. Ruth Khan oversees all activities carried out by Ruth Khan and makes the final decision on the employees who should be fired. She does this by comparing the performance of employees against the set performance levels.  

Janet Miller, the human resources assistant, also perfoms performance appraisal activities to determine if any employees need further training in their field to facilitate their activities. In case a given employee is taking too long to serve a customer, Janet Miller organizes training sessions to improve their customer services. Additionally, if an employee is seen to produce low quality food, she organizes training sessions to help the employee gain the skills to deliver the standard food quality. After the training sessions, the employees are required to adhere to the company’s standards and thus improve their performance levels. If the employees are seen to keep providing sub-standard goods and services, that is when Ruth Khan decides to either hire them or give them a warning.

Moreover, Janet Miller names the most productive employees who are rewarded by the company using different monetary or non-monetary gifts. This aids in motivating the rest of the employees to produce high-quality results. These actions of the human resource department are in line with the Scientific management theory by F.W Taylor where he asserts that man is highly motivated by money and other gifts, and will, therefore, work hard to increase his or her performance in a bid to gain more rewards (Itika, 2011).

Elements Relevant to the Management to Increase the Effectiveness and Efficiency of the Organization and its Processes

The company also carries out actions that are in line with the Human relation theory by Elton Mayo. According to the theory, it is crucial for the management to consult with its workers and take an interest in the work they do (Itika, 2011). This is crucial because it makes the employees feel that their opinions are valued by the company which increases their levels of motivation when carrying out their roles in the company. By this theory, Jackson Stewart, who is the recruiter, encourages the employees to voice their opinions and concerns regarding the organization’s operations in a bid to improve efficiency and effectiveness.  

Jackson Stewart also ensures that the working environment for the employees is safe and conducive to work in. Additionally, he ensures that employees depict the company’s values in their internal and external interactions. The human resource department also provides an opportunity for the existing employees to develop their skills to ensure that the company can carry out internal promotions without necessarily hiring new people for specific roles.  

The different infrastructure materials used by the company include the use of HR software systems that automate time tracking and payroll runs. The company also uses different software through which employees can provide feedback on different company operations, provide their ideas, or lodge their complaints to the company’s management. The structure of the human resource management team is shown in figure 1 below.

Figure 1

Elements Relevant to the Management to Increase the Effectiveness and Efficiency of the Organization and its Processes

Effectiveness refers to the outcomes of actions of managers and employees in an organization. Effective employees provide high-quality results in all their efforts (O’riordan, 2017). Therefore, an effective workforce in Wannaburger will ensure that the food products made are of a high quality which leads to increased customer satisfaction, and this leads to the improvement of the company’s brand. It is hence crucial for Wannaburger to ensure that its employees are effective in their operations because this will determine the revenues made by the company as well as improve the company’s reputation.  As an expansion and growth strategy, Wannaburger will provide healthy and nutritious foods in a bid to attract customers who are living a healthy lifestyle. Additionally, the company targets to sell smoothies that are high in nutrition value to its different customers. The company will, therefore, be effective in the production and provision of these products in a bid to retain its customers and attract new ones. Effectiveness is therefore crucial as it will enable the company to stand out from its competition.

Human Resources Requirements

Conversely, efficiency refers to the time that a company takes to carry out its operations (Truss, 2009). Wannaburger needs to be efficient in its activities to reduce the time taken in different activities such as food production and service since this will also aid in saving the firm’s costs. Efficiency also involves the use of the least resources to produce different products. Efficiency will enable the company to serve more customers within a short period as well as save on its expenses by using minimal resources in its operations. In the long run, this will aid in increasing the number of customers served in the restaurants and minimizing the costs incurred in the process.

Hence, the human resource department should carry out training and development exercises to ensure that its workforce is both efficient and effective in the provision of different food products and services to its customers (Simms, 2017). This will aid in saving time and resources for the company which will also lead to increased revenue and thus profits (Jackson, Schular & Werner, 2008). In cases where employees are identified as being ineffective, the human resource personnel should provide constructive criticisms to them which will highlight the areas they need to improve in (Simms, 2017). Additionally, the human resource department needs to carry out performance reviews regularly to ensure that employees maintain the company’s effectiveness standards (Farndale, 2005). To have an effective workforce, the human resource personnel should hire highly skilled and experienced employees who have the motivation to add value to the firm (Sheehan, 2012).  

On the other hand, it is vital for Wannaburgers to provide the necessary tools and resources that will enable employees to be efficient in performing their different tasks. To ensure that they facilitate efficient operations, the human resource department should communicate with employees to determine ways in which they can change the workplace to provide an environment that supports efficient operations. The company should also provide all the tools and technologies needed to promote efficiency (Jackson, Schular & Werner, 2008).

The human resource department at Wannaburger needs to have more personnel in the department as the company expands to keep up with the higher number of employees and recruits who will require training and development. The recruits will also need a constant appraisal to ensure that their work is up to standard. The company will also need highly innovative technologies to make their work more efficient.

According to (García-Lillo, Úbeda-García & Marco-Lajara, 2016), it is not only crucial to hire the best employees available, but it is also critical to ensure that the hired personnel work in their area of strength to produce high-quality outputs. Hiring the right staff members and stationing them in their areas of strengths will also enable the company to have a highly motivated staff. The roles and responsibilities of all company employees need to be defined very clearly in any organization to ensure that operations flow smoothly and to increase accountability of the employees. Therefore, Wannaburger will hire employees who are well skilled in fast food preparation, customer service, and inventory management. These employees will then be assigned roles in the areas where they will be able to optimize the company’s overall operations. The employees will also have different degrees of responsibility and authority with some overseeing the activities of other employees.

The employees who will work in the preparation of burgers and other food products will be the people who are well trained in catering. Those who will interact with the customers need to be emotionally intelligent and outgoing. This will ensure that everyone produces high-quality results because they have the skills and motivation to perform their tasks.

Wannaburger can expand either internally or externally. However, for the company to develop, it requires financial resources. The company, therefore, needs to raise capital to expand. Internal expansion refers to the type of growth whereby a company grows by opening more businesses in different locations (Shyamala, 2018). This could either be in the country or internationally. If Wannaburger expands externally, it is going to either merge with other companies in the same field or acquire other fast food companies. In this case, the company will also need resources for the merger and acquisition activities. Therefore, one significant gap that the company needs to fill is to raise capital. Additionally, the company needs to hire more employees in the new businesses. The employees need to be highly qualified, and they should be able to work in different departments within the company. The employees also need to be conversant with various technological advances that the company may use in a bid to increase efficiency (Jackson & Morgan, 2011). Therefore, the company needs to make use of new technological tools and train its employees on how to use the different tools in its operations.

Organizational structures that are efficient and effective enable business operations and growth to become more manageable and save time and resources (Clarke & Scurry, 2017). Efficient and effective structures ensure that the company has a culture that encourages employees to have high morale and it also makes sure that there is cohesiveness in the firm (Bartuševi?ien? & Šakalyt?, 2013). Additionally, it ensures that the company can produce a marketing message that is uniform in all its marketing platforms (Baik, Chae, Choi & Farber, 2012). It also ensures that an organization has consistent communication throughout the company (Ask, Magnusson & Frisk, 2012). An efficient and effective organizational structure, therefore, has a variety of elements that Wannaburger should adhere to make sure that all company operations are efficient. If Wannaburger is both effective and efficient in its operations, it will produce high-quality work, save time and resources, as well as increase revenue and profits.

First, the company needs to ensure that the employees have high levels of morale (Marieta & Pompiliu, 2010). High morale is crucial in any organization since it will aid to improve the productivity of the company (Sonza & Kloeckner, 2013). Additionally, when employees are motivated, they offer new ideas to the management that can help improve the company’s productivity (Lin, Ma & Su, 2010). Wannaburger, therefore, needs to reward employees who perform beyond certain levels by creating incentives that will motivate them to produce high-quality work. It is also crucial for the company to compare the payments it provides to its employees with those of other organizations to ensure that it remains competitive and does not lose its employees to the competitors (Mouzas, n.d.). In case issues arise in the organization, the company should also encourage the employees to voice their concerns and provide any feedback they feel is necessary to the organization (Roghaniana, Raslia & Gheysari, 2012). Wannaburger also needs to hold regular meetings such as on a monthly basis to talk about the company operations and to identify any areas that require improvement or change.

Another way in which Wannaburger can increase the company’s efficiency is by encouraging clear and constant communication across the entire company. To make sure that all company operations go smoothly, all the different departments should be able to communicate with each other easily (Wong, Soh, Chong & Karia, 2015). Incidentally, the supply and logistics department should be able to communicate with the food production department to find out which ingredients are required. Additionally, the supply and logistics department should be able to communicate with the human resource department in case they need an extra employee. To ensure there is effective communication in the company, Wannaburger, therefore, needs to purchase technological devices that will make connection fast, easy, and reliable.

Finally, Wannaburger needs to explicitly name all its decision makers to make sure that all employees are undoubtedly aware of them. This will ensure that decisions are made faster by being brought to the attention of the right decision makers. When the company expands, it will have managers at different levels of operation. To minimize the time taken to make decisions, employees need to be aware of how to move issues to higher levels of management, where necessary.

It is also crucial for Wannaburger to measure its effectiveness levels. The importance of measuring organizational effectiveness is that it highlights any areas that the company needs to improve on provides employees and investors with an idea of the company’s strengths which should be. Additionally, it views how well the company is achieving its set goals and how close it is to its vision (Jiang, Frazier & Prater, 2006). Organizational effectiveness looks across the entire company at the adherence to company’s core values, its internal structure, long-term planning, and financial performance which are critical components in any firm (Tzelepis, Tsekouras, Skuras & Dimara, 2006).

According to Kristina and Wijaya (2017), risk management is the process in which uncertainties are identified, analyzed, and responded to in a bid to maximize the positive outcomes and reduce the effects of adverse events.

The process of risk assessment involves four significant steps. First, it is vital to identify the risks, categorize and rate them, find ways to manage the risks, and finally review the chosen methods to determine if they are efficient (Aloini, Dulmin & Mininno, 2007). Wannaburger can face different types of risks in the future which may or may not be anticipated. The risks that businesses face may lead to severe losses and others may even cause a company to go bankrupt. It is therefore critical for Wannaburger to come up with a risk management plan that will enable the company to look at the different risks in a systematic manner and form strategies to minimize or eliminate the risks.

First, the company may face strategic risk, especially during the expansion process. In case Wannaburger chooses to expand by acquiring already existing businesses in the food production sector, it has to create a business plan that will be influenced both by the past business performance as well as the market forces of supply and demand. However, business operations are ever-changing activities, and even though the company may have a business plan in place, it may become outdated quickly in the changing business environment (Odeyinka, Lowe & Kaka, 2012). One company that faced this risk is Kodak which dominated the market of film photography. In 1975, the company’s engineers invented the digital camera, but the company failed to develop the model since it saw it as a threat. Consequently, this caused Kodak to go bankrupt (Ahmed, Kayis & Amornsawadwatana, 2007). Therefore, if the company had analyzed the risk appropriately, it would have continued to thrive in the film photography market. Wannaburger, therefore, needs to find ways to reach its goals and targets even when its initial strategy becomes ineffective. This risk has a medium rate of occurrence in businesses at about 35%.

Another risk that may face Wannaburger is the operational risk. This type of risk occurs in case of unexpected failure in the day to day business operations. The risk may be caused by different elements such as the company employees, the company operational processes, or a technical failure (Sanchez, Robert, Bourgault & Pellerin, 2009). Once Wannaburger expands its operations, it will need to improve its equipment, and these are subject to failure. The company thus needs to be prepared for such cases by having insurance policies in place. Operational risks may also be caused by natural disasters which may be unpredictable (Power, 2004). To ensure that the company gets back to the financial position it was in before the tragedy; it is crucial for it to have an insurance policy that will prevent bankruptcies or massive losses. This type of risk has a 50% chance of occurrence (Wu, Kong, Shi, Karimi & Zhang, 2014). This is averaged based on the area where the business is located.

Third, Wannaburger may face compliance risks. These are risks that are associated with the failure of a company to comply with all the necessary laws and regulations that apply to that specific business segment (Wu, Kong, Shi, Karimi & Zhang, 2014). As Wannaburger expands, it may face additional regulations which it may need to comply with. To be able to minimize the likelihood of this risk occurring, Wannaburger should ensure that its employees are well trained in the different laws and regulations that relate to the food production sector. The various elements that the company may need to look at in new markets include labeling rules, food safety rules, among others. If the company operates in a foreign market or nation, the risk has a chance of 70% of occurrence (Wu, Kong, Shi, Karimi & Zhang, 2014).

Fourth, Wannaburger may be affected by the market environment as well as different economic trends. Incidentally, it may face stiff price competition from other food providers, technological changes, and changes in regulations in regards to accounting, taxation, and laws. It hence needs to remain informed and highly competitive to stand out from its competitors. The chance of occurrence of this risk is 80% because market forces are very prevalent.

Fifth, with the company’s expansion, the firm faces project management risks. If the company carries out a merger or acquisition transaction, it will need to carry out renovation activities to ensure that the new businesses match the company’s design and layout. This could lead to cost overruns (Raj Sinha, Whitman & Malzahn, 2004). The company hence needs to identify any problems that may arise during the construction activities and ensure that the resources allocated are well used. In an expanding company, the probability of this risk occurring is 70%.

Wannaburger could also face risks that are associated with investment decisions made during the expansion process. The company may need to introduce new products and enter new markets to expand its business and strengthen its competitive levels. In this case, the firm needs to review all its investment decisions, carry out research and development activities, and determine the effectiveness of the business plan to mitigate these risks (Colicchia & Strozzi, 2012). Even if the company carries out different investment activities in a bid to expand, there are no guarantees that it will become successful (Durach, Kembro & Wieland, 2017). However, by analyzing the risks and putting measures that will aid to reduce these risks, the company has a very high chance of achieving adequate returns and even becoming very successful. The risk of failure in the new markets is 50%.

Finally, Wannaburger faces the risk of the leakage of the company’s corporate information and recipes. For Wannaburger to become successful, it needs to have a competitive edge over other firms in the industry. As a food company, the ingredients used in the preparation of different foods and the process are vital information that should be well protected to ensure that other companies do not replicate the process. To make sure that this information is well protected, Wannaburger should use non-disclosure agreements to ensure that its data is well protected. Additionally, the company should use patents to protect its innovations. The risk of this occurring is 96% due to the presence of non-disclosure agreements and patents.

Wannaburger intends to expand its operations to introduce new products and enter new markets. To do so, as aforementioned, the firm can expand either internally or externally. The internal expansion will require the company to raise capital whether from within the business by plowing back profits, selling shares and bonds, or by engaging either a private equity investor or venture capitalist. Conversely, if the company expands externally, it will either merge with other businesses or carry out an acquisition. The action plan that the firm will employ is depicted below.

Objective	Milestone	Timeline
To analyze the most favorable method of business growth.	Merger or acquisition deals	Three months.
To formulate a business plan in line with the expansion strategy.	Complete Business plan	Three and a half months.
To carry out marketing activities using different platforms such as social media, advertisements, and television advertisement.		Four months.
To conduct a risk assessment.	Taking insurance covers against the most likely risks.	Four months.
To Hire staff for the different departments in different businesses.	Fully staffed businesses.	Five months.
To commence business operations in the new businesses.	Businesses start making sales.	Five months.

Figure 2

Monitoring and evaluation are very crucial steps in business operations. Monitoring involves tracking the performance of the company in different areas while evaluation involves taking action based on the data. Businesses should not just compile information in regards to the outcomes of various operations, but they should also take action based on the data collected.

Wannaburger needs to evaluate business operations by performing benchmarking activities. Benchmarking analysis refers to the process in which organizations compare their performance against the performance of other organizations in a bid to improve their operations and increase productivity (Itika, 2011).

Wannaburger needs to monitor its social media accounts as well as other marketing platforms in a bid to determine whether they are effective or not. Additionally, it should compare its marketing activities with those of its competitors to identify ways in which it can improve the effectiveness of its marketing operations. The company also needs to look at the supplies and logistics departments of different companies to identify how it can improve the department.

Another vital area that the company needs to monitor is the performance of its employees as well as that of the different departments. To identify the employees who are performing correctly, the company needs to analyze the performance of the individual workers against specific set Key Performance Indicators. The different key performance indicators (KPIs) that are used need to be precise, measurable, achievable, relevant, and time-bound. Incidentally, Wannaburger can provide its employees with targets that they are required to achieve such as sales volume, output levels, and service time. Once the performance of the employees is evaluated against the set targets, then the employees can be rewarded if they have achieved the set targets. Conversely, they can be trained and developed further in case they have not reached specific goals.

Therefore, monitoring and evaluation is a critical part that Wannaburger should carry out. It will enable the company to identify any areas of weakness by comparing employees’ performance to specific Key Performance Indicators and by carrying out benchmarking analysis.

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