Analysis of targeted work class description

¶ … Targeted Work Class

Organizations are constantly faced with the need to develop business models that not only enables them to maintain competitive advantage but also contributes to incremental value to stakeholders and customer while dealing with strategic challenges. This implies that an organization needs to continuously evaluate its strengths, weaknesses, opportunities, and threats. One of the most important elements the evaluation process in order to enhance the productivity and success of an organization is description of and analysis of targeted work class. This entails evaluating work processes and key employees, determining necessary knowledge, skills and abilities for the job, defining the compensation system, and assessing how the organization will change while achieving its strategic challenges in the future. An analysis of an organization's targeted work class in terms of the effectiveness of employees, work processes, and compensation system is crucial towards enhancing value-creation opportunities and promoting its productivity.

Work Processes and Key Employees

As previously mentioned, one of the most important factors in organizational productivity and success is human capital. Given the significance of human capital to an organization's long-term success, it is increasingly important for organizations to develop effective measures for understanding this important asset. An understanding of human capital in an organization requires an analysis of the work processes and key employees. This is mainly because the information helps the organization to understand the effectiveness of employees and work processes in relation to the achievement of organizational objectives.

Avid Technology Inc. (AVID) is an organization that focuses on production and sale of editing software to television and film producers. It is one of the first organizations or businesses to launch a series of digital editing tools for high-definition television production (Weintraub & Burrows, 2005). Despite the seeming difficulties in the growth and development of HDTV industry, AVID has continued to generate huge profits that grow at an average of 389% every year in the past few years. The growth and profitability of the company is not only attributed to a strong customer base but also through effective work processes and maintenance of key employees.

The first important work processes for AVID is product development process given that the organization is among the pioneers in the production of various digital editing tools for high-definition television production. This core work process involves spending a lot of time examining trends and adopting various measures to get ahead of competitors. The information derived from looking at trends in this industry is used to develop and create better HD tools for customers. Secondly, technology management is a core work process for AVID since it operates in the Information Technology field. It entails controlling several aspects to create an organization's technology leverage from development, procedure of creation, best practices to utilize, and innovation. Technology management helps in ensuring the organization's employees adopt innovative measures for creating innovative digital editing tools. The third work process for the organization is sales and marketing, which includes customer strategy and relationships as well as product and/or service delivery. This is a core work process for the company because its productivity requires the identification of targeted customers, managing customer relationships, and delivery of high-quality products and/or service in exchange for money.

In order to ensure smooth operations within the organization, Avid Technology Inc. has created various departments across its core business processes and functions. These various departments consist of several employees who are mandated with specific functions that help the company realize its business objectives and strategies. However, the company's key employees are those within the product development and sales and marketing department. Product development employees are crucial because of their role in ensuring the production of innovative editing tools that are attractive to customers. In contrast, sales and marketing employees are key workers because they act as the direct link between the organization and the target market and help shape future product development initiatives.

Meeting the Strategic Challenges in the Future

Avid Technology Inc. is operating in a relatively new industry where anticipating and predicting the needs of customers is a crucial element of success. The ability of a company to succeed and thrive in this struggling sector is actually dependent on anticipating customers' needs. As a result, the company needs to continue looking at market trends as a means of understanding the needs of customers as well as increased investments in product innovation. The need to meet customers' needs in turn contributes to the need for the organization to change while meeting its strategic challenges in the future.

The main way for the organization to change while meeting its strategic challenges in the future is adopting a new strategy in product development and marketing. The change in strategy is because of the shift in development of value chain in this sector from creation to sharing content and monetizing (Kirn, 2014). The new strategy incorporates new product development initiatives based on product innovation and improved execution of growth strategies. Avid Technology Inc. should continue to position itself based on market changes, technological advancements, and changes in customers' needs as part of ensuring continuous customer success and satisfaction. The other measure through which the organization will change while meeting its strategic challenges in the future is by addressing the current challenges it is facing with regards to its own financial health rather than the state of the industry.

Workers and Compensation System

The changes in the company will require new kinds of workers with competence in their various jobs and work processes. The organization will need to improve its accounting department in order to address its current financial health challenges. Workers in this department should have knowledge and skills in accounting and auditing in order to help enhance preparation of financial statements and audits. These employees will be mandated with the task of preparation of financial statements, ensuring the effectiveness of the organization's internal controls, and filing its periodic reports. The change in the organization will also require employees with competence in Information Technology in light of latest trends in the market. These employees will work in product development department and should possess skills in hardware and software solution to support AVID's investment in new technologies and expansion of development teams.