Concerned about lack of attention paid to wastage

Assignment Help Financial Management

Reference no: EM131906510

CONTINGENCY PLANS

At the end of the second quarter (Q2) you receive the following information from the managing director.

Due to the current economic climate, sales volume may be 20% below target this financial year. This may severely impact profit projections.

The company can accept as much as a 10% variance in profit projections; however, more than this could severely affect the company’s ability to pay obligations and invest.

Employees are concerned about lack of attention paid to wastage: water; electricity: paper and raw materials.

Sales training given in July suited the needs of only 50% of the sales team.

The sales team members have become resentful at the threatening tone of emails they receive from upper management.

50 percent of direct wages costs are attributable to short-term contract employees whose contracts have expired and who are no longer needed.

You are required to submit a contingency plan to your managing director outline was action(s) can implemented to deal with these problems and the time frames for their review.

Reference no: EM131906510

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