Business Problem at Uit As You All Term Paper
- Length: 5 pages
- Subject: Business
- Type: Term Paper
- Paper: #58499930
Excerpt from Term Paper :
Business Problem at UIT.
As you all know, there is a serious problem of lack of profitability in the Unit Investment Trust. Before taking any action, management would like to get an idea of the ideas and suggestions that might be out there that we haven't looked at. This is your chance to possibly make a difference. (If you need more room, please feel free to write as much as you wish.)
Are you aware that there are problems in the Unit Investment Trust department? ____Yes__No
What is your perception of the problem/s in the Unit Investment Trust?
Do you think there is some way this problem could have been prevented?
One of the problems identified is the fact that UIT uses a whole different accounting system.
Is there some way besides converting to another system or other departments converting to UIT's system, to solve this problem?
5. Is there justification for this particular expense? How is it that it worked without being an undo expense previously?
6. Personnel Costs are another identified area of concern. The suggestion has been made to downsize this department. Is there some other way besides downsizing? Why weren't department Personnel costs an issue previously?
7. We have had some suggestions as to how to solve the problem of this unprofitable cost center. One of those suggestions is to sell off the Unit. Do you think this is possible?
8. How would this be possible?
9. Is it possible that there are other issues under the company's control that could make UIT more profitable?
10. If your were offered the opportunity to re-organize UIT what steps would you take, what changes would you institute to bring profitability back to this section?
Analyses of Survey
The point and purpose of this survey would be to get as much input and as many different viewpoints as possible. Just because people are managers in a big corporation like JP Morgan, does not mean they necessarily have all the answers. First of all there is the possibility that they are locked in to some old ideas and old ways of doing things. The fact that the management only identified three major ideas for solving the problems attached to this cost unit speaks loudly for a fairly narrow viewpoint on the part of everyone who participated in whatever discussions went on over this matter. One purpose of the survey would be to create a deeper, larger pool of ideas.
Another purpose of the survey is to get everyone asked thinking about the whole issue. People might stand around the water cooler discussing various aspects of this problem, but those discussions, no matter how fine an idea might be generated, won't do any good unless the ideas get to the right people.
The purpose of question #1 is to get a general feel for the overall level of knowledge about the problem is in circulation. While it is usually true that a problem of this nature is common knowledge it is, I think a good idea to find out just how quickly and far the stories have spread.
Question #2, Is designed to find out the exact nature of the information in circulation. Anyone who has worked in any kind of workplace knows how stories spread and change as they spread. One of the functions of management should be to get good information out about an issue to try and stop the rumor-mongering.
Question #3 is a venting question. I don't know as it would garner a great deal of useful information, but, it is supposed to allow people to express any anger or frustration there might be before getting into the rest of the survey.
Question #4 This question comes in because it seems that if this was a particular problem, causing the UIT to be less profitable than it otherwise might have been it should have shown up as a problem previously. Perhaps there was something else going on that caused a difference.
Question #5 is obviously a follow-up to #4 and is still looking for information about this aspect of UIT that might generate new information as to why this particular accounting system did not cause a problem previously. It seems there just must be some explanation, first, as to why this cost center uses a different system than everybody else and, two, why it didn't seem to cause problems earlier. Has something changed?
Question #6 kind of…