The Most Important Factors Of Transforming Gateshead Holdings Essay

The Most Important Factors Of Transforming Gateshead Holdings - Essay Example The workers were sorted into teams and assigned responsibilities accordingly. Workers were also offered rewards for putting in best efforts towards fulfilling their responsibilities. This helped in motivating the staff, a critical component in today's business context. Motives help in providing a reason for the staff to act in a more efficient manner. On the other hand lack of motivation can actually result in distorting the working environment. The five elements of 5S included Sort, Set, Shine, Standardize and Sustain. Once the workforce realizes that the management is indeed quite serious about sustaining the business the long term, they too start connecting their future with the efficient functioning of the company. During the years prior to 1999, no positive motivation was in sight for the workers. The lack of any positive motivation by the managers often results in automatic provisioning of negative motivation. But the 5S adopted by management helped in changing this attitude. From the year 1995 to 1998 the staff turnover ratio is consistently on an increase. Workers appear to have given up and considering it a sinking  ship the workers getting opportunities elsewhere thought it fit to leave at the first available opportunity. This is reflected in the incremental percentage of staff turnover. This leads to an increase in costs as once a set of trained staff leaves, a new process for recruiting is required to be taken up. The new incumbents take some time to familiarise themselves with the work and working environment. This affects the production levels and efficiency of the respective departments. In 1999, it appears in the initial months, the percentage of staff turnover had been on the rise, but after the motivation thoughts and positive signals sent in by Geoff, this trend stopped.

Economic Development Essay Example | Topics and Well Written Essays - 750 words

Economic Development - Essay Example It is only by setting up and effectively executing proper economic development plans that these are achieved. New Jersey State employs a complex economic development plan. This encompasses both government initiatives and private sector initiatives. They all work in tandem towards the realization of a common goal which is uplifting the economy of the state. It is an intricate development plan that has so far worked out perfectly well. One of the arms of the intricate development plan of New Jersey State is the Department of Environmental Protection (DEP). This is machinery for protecting and enhancing the environment of the state. The environment is a very key aspect of the economy. Economic development would come to a halt if the environment is not protected. Industries would pollute the air with toxic gases; the water bodies with lethal effluents; there would be unbearable noise; there would be uncontrolled deforestation among others. All these have dire consequences for the develop ment of the state. The state would lose its work force due to the death or ailment of its citizens. All sectors of the economy would thus be poorly managed. There would be poor schools, poor hospitals, and poor transport systems just among others. In short, there would be no development. In order to guard against this the state employs the use of a principal development plan, the Department of Environmental Protection. The BEDI program is seen as possible way to spur the return of brownfields to productive economic use through financial assistance to public entities in the redevelopment of brownfields. It as well enhances the security and improvement of the viability of a project which has the financing of section 108 guaranteed loan authorities. Hence, due to this, the BEDI grants must be used in conjunction with a new section 108 guaranteed loan commitment. Section 108 is the loan guarantee provision of the Community Development Block Grant (CDBG) program. Another key economic dev elopment plan that the state of New Jersey uses is the Voluntary Cleanup Program (VCP). The private sector contributes to the environmental development of the state through this program. It is an initiative that allows any interested parties to take part in a cleanup program of the state. This helps to alleviate filthy spots in the state. Any interested party that feels they are in a position to foot the challenges that come with cleaning up an identified site are welcome. They should have the will and the ability to conduct the exercise. There is a cleanup Memorandum of Agreement (MOA) for the state. The interested party enters into a cleanup Memorandum of Agreement with the state. This works out the modalities of the exercise. Through these cleanup programs, the state is capable of enhancing the hygiene of its ambience. By so doing, a stimulus to economic development is inevitable. It is a proper economic development plan. The Brownfields Economic Development Initiative is another major economic development plan from which the state of New Jersey benefits. This could very well be the most outstanding of them all. It is used for the sake of promoting and stimulating economic developm