Preparing to Conduct Business Essay Example | Topics and Well Written Essays - 500 words

Preparing to Conduct Business - Essay Example ductivity as the cost of laying-off the tenured employees, as well as coping for the remaining or new managers in the newly-built structure of the company. Possible research questions for the scenario are: 1) Should the functions for each job description be adjusted to suit the new organizational structure? 2) How many tenured employees must be retained in order to keep the company working smoothly as before, and at the same time within the new structure’s limits? And 3) Would the gap between costs and profits after restructuring increase or decrease, as compared to the old structure, and by how much? Possible hypotheses, which can be either a null hypothesis (no difference between X and Y) or alternative hypothesis (X is better than Y, or vice versa) for the given scenario can be deduced using the example research questions stated above: 1) Ho: The old job descriptions can still be used for the new structure of the company. Ha: Job descriptions must be updated to suit the new organizational structure. 2) Ho: No need to hire more than 3% of the original employees since this is enough to both train the new hires and keep the organization going. Ha: Hiring at least 50% of the original employees would be enough to train the new hires and keep the organization sailing. 3) Ho: The gap between cost and profits would be the same as in the old structure. Ha: Gap between cost and profit can either be: cost is greater than profits, or profits are greater than cost. While business restructuring is a strategy usually undertaken by many companies to cut costs, there are many things to be considered before undertaking such a task (Zilka 13). In order to be able to maximize profits as well as the cuts in costs, the business must have a solid program as its foundation. There must be sufficient data, analytics as well as benchmarking in order to gauge the new program’s effectiveness (14). This would ensure that the new organizational structure would be able to save more and