Organization chosen by us for analysis is 3M which is one of the biggest conglomerates in Australia. The company is into various segments and hence considered to be a conglomerate. 3M achieved global sales of $29.6 billion in fiscal year 2011 which is an increase of 11% in comparison to 2010. Company has increasingly expanded its global footprint across the globe.
Strengths of the Organization
Double digit growth in industrial revenue-industrial and transportation: Industrial activity metrics indicate that the industrial activity has been expanding since bottoming in mid-2009. We think this will le
ad to an improvement in order growth as end-market demand increases. This has been the case with 3M. Industrial and transportation accounted for 31% of total sales in fiscal year 2010. Segment has witnessed sales of $10.07 billion in fiscal year 2011, which is a growth of 19.5% over the previous year. 3M has witnessed over 30% growth in tapes and adhesives for new applications in medical device, specialty vehicles and construction market. 3M has recently partnered with systems integrator to deploy world’s largest solar collector in the Mohave Desert. Company has also won major contracts in automotive for cabin noise reduction solutions and 3M Interam products for catalytic converters. 3M Purification business segment won new contracts to supply state-of-the art filtration systems for two significant customers in the pharma and bottling industries. With this order backlog, the segment is set to grow in the near future.
Diversification across geography & businesses: 3M employs Pyramid expansion with new customer segments and business models. This leads to regionalization of manufacturing and supply chain. The company classifies its business into six reportable segments -- Industrial & Transportation, Health Care, Display & Graphics, Consumer & Office, Electro & Communications, and Safety, Security and Protection. Most 3M products involve expertise in product development, manufacturing and marketing, with many of the company's products involving some form of coating, sealant, adhesive, film, or chemical additive that increases the product's overall functionality and usability for consumers. We also think that the expansion of 3M's international operations, most notably in China, will provide growth impetus to company in near term. Finally, we continue to expect that acquisitions will remain a key part of MMM's growth strategy. The company continues to invest in international manufacturing facilities to more closely align business functions with its sales mix, as about two-thirds of sales are generated outside of the U.S. 3M has witnessed over 30% growth in tapes and adhesives for new applications in medical device, specialty vehicles and construction market. 3M has recently partnered with systems integrator to deploy world’s largest solar collector in the Mohave Desert. Company has also won major contracts in automotive for cabin noise reduction solutions and 3M Interam products for catalytic converters.
Evaluation procedure for a training program designed to teach sales principles and strategies.
As the employee training gains importance in an organization it is equally important that an evaluation methodology is adopted for the training system itself. This methodology should be able to judge the outcomes and the shortcomings of the process. This outcome should be utilized to build in the sales and marketing strategies into the employee training system. Simulation environmental training is gaining grounds these days whereby employee goes through a simulated environment and tries to understand his/her potential in the field.
Today it is undoubtedly that each organization, aiming at success of its business, tries to put the right people with the right skills and attributes in the appropriate positions. Executives and human resources managers are well aware that wrong decision in employees’ appointment can cause the loss of productivity, and as a consequence, lower morale of workers and raise a turnover. To avoid this and to improve performance, nowadays more and more organizations use the behavioral characteristics of superior performers as “template”, or “blueprint”, for employee selection and development (Spensor and Spensor, 1993). These “templates” gained the name “competency models”.
Competency modeling approach originated about 30 years ago, the first competency model was developed in the early 1970’s by David McClelland and his colleagues as a response to a problem of proper selection of junior Foreign Service Information Officers in the U.S. Department of State.
Organizations which carry out personal development planning emphasize that there is not only about identifying training need and suitable courses to satisfy them, other learning activities are much more important. Examples of such development activities include: action learning, coaching, distance learning, e-learning, formal training courses, guided reading, on-line study community, planned use of a learning resource centre, good practice interchange, project work or special assignment, working with a mentor, etc. (Armstrong and Baron, 2005).
Gantt Chart- Work Breakdown Structure
This is the detailed Gantt chart of the project. The project will be implemented across few phases and each one of them is detailed out in the project plan. In this part of the project the total plan for the project is laid down. It helps in moving ahead with the execution phase. The sponsorship will be detailed out in Initiation phase and that’s when the project will start drawing money. This will help the project to frame the detail of the further events.
Candidate will be eligible for an annual bonus and it will be directly marked to the performance of the candidate. This is something which is directly linked to the performance of the company and the bonus allocated by the head management. This annual bonus will then be distributed as per the performance of the candidate which is assessed by the third party deployed by the management for the same.
Performance appraisal is very critical for any organization and it is a very critical issue to handle.(360 degree appraisal, 2010) Since ours is global giant and considering the employee base company manages, the issue of performance appraisal becomes even more critical. It is very important that organization manages this issue with high criticality. Over the years organizations have evolved and the employee base has increased, but the methodology for evaluating their performance has not changed. At any time annual bonus of the applicant cannot exceed 15% of the total annual remuneration of the company.
The project focusses on training program of the employees.
Develop a new training program that provides just in time training to employees on key topics, including supplier management, negotiating skills, project management, and software applications (spreadsheets and Web development).
Reduce the training cost per employee by 10%, or $100/employee/year.
Develop an approach for measuring productivity improvements from this approach to training on an annual basis.
This project will be successful if it reduces training cost per employee by 10% or $100/employee/year
It should also be completed on time, be run professionally, and meet all of the requirements.
The project sponsor will determine if the project is a success or not
The main resources which will be utilized during the project are:
1. Current Training Team
2. Feedback from the operations team
3. Few candidates for prototype Training
4. Management feedback utilization for creating new Training programmes
5. Consulting outside experts to complete the work in the proficient manner.
The first stage is to have an economic planning for the same. An economic detailed environment for the project is to be created and then the climate is to be communicated to the sponsor. With the aura of the climate it will help the company draft the sponsorship manual and get the necessary funds from the people of the community.
The firm has allocated $1000000 for this Project; approximately half of these costs will be for internal labor, while the other half will be for outsourced labor and training programs. The objective of the project was to create a detailed plan for Training program. The objective of the situation was to create a detailed project plan and then work out a project management plan. It is very important that Work Break down Structure of the same is created in all possible details.
Importance of phases
1. Initiating: This part of the project help in starting the project. This part of the project gets the project on ground and then it goes forward. This phase drafts the main document and then the project goes forward.
2. Planning: In this part of the project the total plan for the project is laid down. It helps in moving ahead with the execution phase. The sponsorship will be detailed out in Initiation phase and that’s when the project will start drawing money. This will help the project to frame the detail of the further events.
3. Monitoring and controlling: In this part of the project a detailed plan and control of the same are laid down. The control ratios help in monitoring the movement of the project.
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