Responding to KPIs and/or Seeking Business Opportunities

Part 1

Test Your Knowledge

1. Explain how staff training AND staff motivation can respond to key performance indicators
2. Paul’s Cement is a small manufacturing business that makes cement sheeting. Recently, there has been an increase in staff turnover and a rise in the level of wastage created during production. The owner, Paul Shields, believes the two issues are related. Below is the recent key performance indicator data:
   

   Key Performance Indicator	2022	2023
   Level of Staff Turnover	4%	17%
   Level of Wastage	6%	14%

   Discuss TWO management strategies that Paul could implement to respond to the key performance indicator data in the above table.

3. Describe how investment in technology can help a business seek new business opportunities.

Part 2

Test Your Knowledge

1. Define redeployment of resources
2. Stellar Footwear, a renowned shoe manufacturer, recently automated its main factory line, leading to increased efficiency and production capacity. As a result, 30% of the factory workforce is now redundant. Simultaneously, Stellar’s online sales have skyrocketed, creating an increased demand for customer service and digital marketing efforts. However, the company lacks skilled personnel in these areas and is contemplating the best way to address this gap.
   Explain how redeployment of human resources can help Stellar Footwear respond to this situation
3. Describe innovation and explain how it can help a business seek new business opportunities.
4. Outline how global outsourcing can help a business respond to a poor net profit result.