needed assistance

Running Head: IDENTIFYING RESOURCE 1

IDENTIFYING RESOURCES 6

Identifying Resources Integrated Business Management and Assessment Excelsior College Introduction The company is in the business of science, technology, and engineering and is present in various markets, including aerospace, defense, industrial, and intelligence. Currently, the company is facing a lot of problems, and the main problem is a high turnover of employees, which is mainly because of the less long-term career growth model company, has. The high turnover is costing the company a lot of problems like dissatisfied customers and orders not delivering on time and many others. There are many competitors in the market as well, and in this industry, innovation is the key, with new technology being introduced every day. Unskilled workers are unable to work with innovation, and that’s where the company’s future is on the edge as competitors are closing more new businesses with their innovative technology, and there is a huge threat of competitors winning the existing clients of the company. Software Since the company is in the technology business and innovation is happening so fast, the software is very important, and the company needs an updated version of the software with innovation insight. To develop the software, we need highly skilled workers with long-term and job security to working with. Software needs updates after a certain period of time which will require highly skilled and innovative employees to do the task, and for a longer period of time which requires training of the employees and up-to-date equipment to do the task (Foshay et al., 2003). Hardware Recently the company has been awarded a NATO contract where the company will also be providing logistic support to NATO. This will require a lot of new hardware and human support to carry out operations. Logistic staff should be trained to do the task. So instead of hiring new people and train them, which will cost time. The company should notify hirer skilled workers who can support the company’s work in supplying logistic support to clients.  Real estate As company’s core business activity is defense, and recently KBR has been awarded many defense contracts and contracts NASA as well. The company will need more space to carry its operations as the more business coming in, the more space is required, and mainly a new warehouse is required. The company should also focus on the industrial side of the business, where the company will be making industrial equipment and delivering them to clients. It will also need a new real estate to make that equipment and warehouse as well. NASA and the US navy have recently awarded contracts that can be very profitable, and it will help KBR to gain more clients in the market. So, delivering services to the clients timely, the company should relocate its office near its clients so the timely services should be delivered (Vegunta & Milanovic, 2009). Training materials As the new staff is hired to carry out operations, training materials will be required to carry out the training of new employees. Training is very important for the new employees as long-term employment contracts will help the company to reduce the high turnover of the staff, and training them for a longer period of time help employees to perform tasks efficiently. Good quality training material will be required to train employees efficiently.  Downtime due to training Every business in the world is exposed to external factors, and downtime is expected due to this ongoing pandemic. Training employees is very important, and downtime due to training is also expected because of the strict SOPs employees have to follow due to the pandemic. This can be reduced by hiring highly skilled trainers who can train the staff efficiently in a short time, and the company can also hire skilled workers or partially skilled workers to reduce the downtime due to training.  Employee payment for training Employees should be paid for training as this will motivate them to work honestly after the training. The company should offer employees long-term contracts for the future and offer more job security and career growth in the future. The major problem for the KBR was the high turnover of the employees as employees are previously offered short-term contracts, which demotivate employees, and employees will not think twice if a better opportunity will be thrown to them by the competitors. So, there should be a long-term contract with the employees, and training should be done in a manner where employees can see career growth. This will help reduce the high turnover of the employees. High turnover had cost the company a lot of problems recently as new employees are not aware of the company’s way of doing business and every time when a new employee was hired, time is wasted on the training which costs the company many unhappy clients. Human capital Human capital such as trainers, management, and new employees is very important to the company. Trainers should be highly skilled and can train employees in a short period of time which will help the company reduce the downtime due to training. Training employees in new innovative and efficient ways to carry out their duties will also help the company. Highly skilled trainers will cost more, but it will help the company for a longer period of time. Management should be highly skilled and have the capability to work under pressure with meeting deadlines from the client. It’s a fast-moving business, and management should be responsible and hardworking. Last but not least new employees should be welcomed with more benefits offered to them as compared to their previous employer. No matter a skilled worker or unskilled worker, they should be treated equally and should be trained with the company’s norms and ethics. New employees should be offered long-term contracts to reduce employee turnover (Barro, 2001). Conclusion To compete in a very innovative and fast-moving market company should focus on new technologies and trained and skilled staff to carry out its operations with the help of hardworking and highly qualified management. It will cost the company initially but will help the company for a longer period of time. For the proposed budget, please find Annexure 1.  References Foshay, R., Silber, K. H., & Stelnicki, M. (2003). Writing training materials that work. TechTrends, 47(2), 67. Vegunta, S. C., & Milanovic, J. V. (2009). Estimation of cost of downtime of industrial process due to voltage sags. IEEE Transactions on power Delivery, 26(2), 576-587. Barro, R. J. (2001). Human capital and growth. American economic review, 91(2), 12-17.