Assignment 5: Impact Identification

Running head: RISK 1

RISK 6

Risk Analysis

Mark Lasky

MGMT 495

American Public University

Professor Davis

March 29, 2018

Organizations face a lot of problems during their operation. Communication problem, performance, and interpersonal relations are among the problems that face many organizations. The proposed solution for these problems includes conducting the biweekly meeting and setting up training programs. An organization could be in a dilemma of deciding which solution to implement, therefore, assessing the possible risks of every solution and deciding which solutions could yield the best results is very important. It is also important to evaluate the possible risks to predict what could happen if the organization implement the solution. The following information will enable the leader to make the final decision for every proposed solution.

Conducting Biweekly Meeting

Conducting a biweekly meeting may sometimes be very overwhelming and confusing. Therefore, employees should need the following new skills to benefit from the meetings; willingness to share their goals with the manager and the rest of the members. By telling the manager what specifically they are working on, or what they are aspiring to work on so they can get help and get wherever they want. Another new skill that employees need is the readiness to describe their achievement in the organization. Communication of goals to the members of the meeting will enable the members to take the initiative to help the employee.

Willingness to ask for advice and input is also an important skill for an employee. It is important for employees to come to the meeting prepared with many questions that will require the manager to offer advice and take the role of mentorship. The other new skill is a readiness to discuss other issues connected to career development. Employees should be ready to discuss other issues connected to career development. After an employee has shared his/her direction and focus with the rest of the members, it is important to enrich the meeting in other ways. That is a good time for employees to ask about their strengths or weakness and where they need to improve.

The financial cost of conducting a biweekly meeting will be economical. There will be no financial costs for hiring conference rooms because they will conduct the meeting in a social room owned by the organization. This will enable the organization to save the money and spend it on other issues. If the organization will implement this solution communication barrier will decrease. This kind of meetings will encourage employees from different sections to interact. The interaction among workers will make them free with each other and enable them to communicate in a freer manner. This form of meetings will improve the flow of communication in both directions. This strategy will enable workers to communicate their challenges and give the organization a chance to completely understand their issues. This will, therefore, improve interpersonal relations and reduce communication barriers.

Conducting meetings will also improve the brand of the organization. Employees from different sections will be able to relate with each other during the meeting and create good relations. A good relationship between employees encourages collaboration and teamwork. Creating a conducive environment that promotes teamwork and collaboration foster good performance, since the employee from different sections can be free with each other and decrease unnecessary competition. Good performance will improve the brand of the organization.

Setting up Training and Development Programs

The organization faces many challenges during its operation. Sometimes, the owner of the organization or a key member of the management team retires becomes incapacitated or dies. It is important to identify and train new leaders to take over the organization in the future. Therefore, training programs such as a leadership training program are essential for coaching future leaders of the organization. Having top employees credited leadership training programs can be a great move for an organization. The purpose of these programs is to help future leaders acquire a wide set of skills and knowledge that they will help them guide the firm and gain a complete understanding of how the organization operates. Setting up training and development programs will, therefore, make succession planning easier (Schepker et al, 2018). The most important new skills that the employees need to gain from training programs include the following: be flexible, willingness to ask questions and be confident.

Setting up training and development programs will be quite expensive. The organization will require capital to pay for professional training and will also need to acquire additional equipment for carrying out online training. As a result of the training cost, there will be some changes in the finance department. The head of the department will increase the budget of the month to accommodate the cost of training.

Conclusion

In conclusion, the proposed solution for these problems includes conducting the biweekly meeting and setting up training programs. An organization could be in a dilemma of deciding which solution to implement, therefore, assessing the possible risks of every solution and deciding which solutions could yield the best results is very important. Communication of goals to the members of the meeting will enable the members to take the initiative to help the employee. Therefore, training programs such as a leadership training program are essential for coaching future leaders of the organization. Having top employees credited leadership training programs can be a great move for an organization. The most important new skills that the employees need to gain from training programs include the following: be flexible, willingness to ask questions and be confident. The organization will require capital to pay for professional training and will also need to acquire additional equipment for carrying out online training. Training and development programs will concentrate on creating good relations through improved and better communication and better performance through collaboration and teamwork. Training and development programs will build a positive reputation for the organization. To add on the employees of an organization are the brand representatives, therefore, when they attend conferences and seminars they replicate and represent all that is good about the organization (Frost, 2019).

References

Frost, S. (2019, February 5). The Importance of Training & Development in the Workplace. Retrieved from https://smallbusiness.chron.com/importance-training-development-workplace-10321.html

Schepker, D., Nyberg, A., Ulrich, M., & Wright, P. (2018, April 20). Planning for Future

Leadership: Procedural Rationality, Formalized Succession Processes, and CEO

Influence in CEO Succession Planning Journal. Retrieved from

https://journals.aom.org/doi/abs/10.5465/amj.2016.0071?af=R&