Your assignment is to prepare and submit a paper on the challenges facing eastern foods. The team of the Eastern Foods Company must understand the obligatory skills required in running the business. Recruited workers are required to have adequate experience and knowledge that is relevant to the operation of the Eastern Foods Company business. There must be people specifically knowledgeable in each department of the Company. For instance, the production department should have people with the best knowledge of production.
The team is required to balance the diversity of the people in the workplace by considering crucial factors like sexual orientations, marital status, and ethnicity among other factors(Sims, 2007, p. 134). But, all these criteria should be implemented in consideration of what is required for each job description. For example, it sounds unusual recruiting a female manpower team where the job description clearly outlines the need for male manpower. Similarly, there is a need to recruit a special marketing team that will take time to acquaint with the new project and concentrate on it holistically. The marketing team is to consist of people with marketing backgrounds, possibly graduates with previous experience in the marketing department of a different Company.
The finance department needs to outline possible measures to contain the costs involved in running the new business. Cost management is a major factor in the running of the business and will determine the difference between the success and failure of the business. The department should be ready to consider various expenses that touch on the people that are part of the business. Such costs may involve training costs, health-care benefits, and hiring process costs. The costs cut into the bottom line of the business, and the management team should figure out how much, how many, and how often these benefits should be offered.
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Obviously, the Company will have it rough balancing its financial statements. The management is to develop standardized accounting methods to avoid misleading reports about their actual financial status(Sims, 2007, p. 20).