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Artemis Sportswear Company

Kayode Israel Adewole, Holly Lafave

COMM 215

Mark Polanzak

April 29, 2014

Today’s culture brings sportswear to a different level. The work-out fashion trend for athletes has changed dramatically throughout the years, and with assistance of professional athletes promoting products; offering high profits for the larger companies. Artemis Sportswear Company is a small family owned business realizing the forthcoming changes in sportswear, and to stay with the current trends, the company will need to make operational cost adjustments to stay in the game. Artemis Sportswear’s target is to decrease operational expenses and increase their profits; however operating expenses can only be cut so much before the quality of business operations is affected. In order for Artemis Sportswear to continue business in the competitive market, they need to review their current operational expenses, and identify specific areas to cut cost; such as labor and overtime, travel, and technology.

The thought of downsizing or laying off employees to maintain a profit, can be uncomfortable for business owners, however is often necessary. Labor and employee salaries are a major portion to Artemis Sportswear Company’s budget, and one way to reduce labor cost and continue to grow and succeed is to avoid overtime. Paying 1 ½ the hourly rate adds up fast, especially during a holiday season and extended hours. Artemis should hire temporary or seasonal workers to avoid excessive overtime. The process of recruiting and hiring can be draining on the company and its resources, therefore a temporary agency is recommended. Temporary agencies provide qualified personnel, and the candidates background checks, references and testing are completed prior to placement; saving the company time and money. The temporary agencies cover several costs that the employer financially will not have to worry about. The agency is responsible for the financial aspect of the hiring process such as; screening, testing, disability coverage, payroll tax expenses, and unemployment. The employer and the temp agency will discuss a contract agreement and decide on the terms of their temporary demands, leaving an efficient workplace and a greater opportunity for both the employee and the employer.

Another benefit Artemis Sportswear can take advantage of is an internship program. Many Universities are looking for community partners to offer their students hands-on education. Artemis Sportswear Company could benefit from a marketing, finance and business intern. The interns are students wanting to learn and work with real-world experiences that have not been offered to them throughout their life or in their classrooms. The practical situations an intern will experience will assist them in furthering their education, and it is a benefit for the employer. Internships offer an ambitious employee to work and get college credit and experience. If a decision is made to take advantage of the internship program there are a few things to keep in mind. The Journal of Healthcare Administration Education is a good article that describes some negative aspects that you should be aware of. The non-traditional students may take up extra time and need additional training, and Artemis will need to keep in mind that if they are laying off staff and then bring in an intern, could cause unprofessional hardship with the other employees. (2012, Fall). Expanding the definition of an internship: Embracing non-conventional graduate students. The Journal of Health Administration Education, 29(4).

Artemis Sportswear can also introduce rewards programs to its employees. The rewards program will assist with saving money with advertising and serve as a method to solicit applicants. Keeping in mind the Labor Law, Artemis can compensate their employees by introducing a referral program. The program can include a bonus for not calling in on your scheduled day to work, and a potential new employee referral. To pay a small bonus to employees show appreciation and consideration, and would ultimately in the end save money. If an employee calls in Artemis will need to find an employee to cover the shift, and not incur overtime. The potential new employee referral program would be beneficial for the company and the employee. The company is potentially get a good employee, and the referring employee will be compensated for the referral. Guidelines should be made specifying a clear background check and successful orientation period. The only downside to a potentially referral program, is if the employee referral is a best friend, schedule accordingly.

Artemis Sportswear Company wants to keep their competitive edge, and tailor to what the customers want and need. With the fashion trend growing strong, new clothing and product are heading into our generation from companies such as: Nike, Adidas, and Under Armour. To stay competitive and up to date on the modern styles and equipment, travel expenses will incur. Artemis should attend trade shows or expos to understand their products better, and for a small business it can be expensive to hire a travel agent to handle all your travel needs. One way to save money on travel expenses is to pay attention to the timing of your travel, especially for airline tickets. Tickets should be booked 54 days from the travel date. (Johnston, 1996). Unfortunately, the cost of tickets, hotel, food and car rentals will increase during peak tourist season and holidays. Artemis can save by using the following practices: 1. Stay over a Saturday night. 2. Understand international flight rates. 3. Consider flying into proximity airports. 4. Take advantage of competitive and special routes. 5. Buy when the rates are good. 6. Consider the flight time. 7. Do not neglect reservations. 8. Investigate corporate agreement rebates. (Johnston, 1996). During Artemis travels, they should coordinate with others to carpool, or take advantage of a Hotel that offers free shuttle service. If their travel becomes frequent, they should enroll in frequent flyer miles with the airlines and work with the hotels on corporate rates.

Over the past few decades technology had been changing tremendously across the globe thus, Artemis Sportswear Company should be dynamic and adopt this new technology in its operation. The company should embrace technology by leasing equipment rather than purchasing at high costs. Leasing equipment such as telephones, fax machines, printers, cash registers and point of sale systems are cheaper than spending a lot of money to purchase or acquire new equipment. The global market is forever growing and advanced technologies are forthcoming and by leasing Artemis Sportswear Company can upgrade or downgrade software as needed to remain sufficient and within budget. Without a doubt, by adopting this strategy to maintain and manage high dollar equipment, Artemis Sportswear Company will reduce its expenditure thus enabling the company to realize a lot of profits all through (Pearlson, & Saunders, 2013). 

Effects on Workers – NEED MORE DETAIL…..

When people become laid off, or there is a cut in employment, people will suffer, some more than others but everyone loses something-It effects the morale and makes them want to do less. (Johnson, n.d.). This means that no matter how Artemis Sportsware shop will have a hard time adjusting to a certain degree, but his is definitely easier

Effects on productivity – NEED MORE DETAIL….

When the Morale, and the will to work has diminished the productivity goes down as a result (Shafiq, 2014). This is becauase when someone is so worried they can think straight they cannot keep their mind on making sure that things get done the right way, which leads to diminishing productivity.

References

Pearlson, K., & Saunders, C. S. (2013). Managing and using information systems: A strategic approach. Hoboken, NJ: John Wiley & Sons.

Johnston, W. M. (1996). Getting a grip on travel costs. The Internal Auditor, 53(2), 20. Retrieved

from http://search.proquest.com/docview/202733137?accountid=35812

Johnson, D. W. (n.d.). THE EMOTIONAL IMPACT OF LAY-OFFS AND NON-RENEWALS. Retrieved from http://www3.crk.umn.edu/humanresources/Documents/Emotional%20Impact%20of%20Layoffs.pdf

Shafiq, S. (2014). The Effect of downsizing on Employee morale. Retrieved from http://www.academia.edu/3642266/Effect_of_Downsizing_on_Employees_Morale

Where to cut operational cost in a small business, such as Artemis Sportswear Company can be challenging. Artemis identified key areas to start with cutting operational cost, such as reducing labor and overtime. TO BE CONTINUED – CAN’T KEEP MY EYES OPEN…..

labor and overtime, travel, and technology.