Case Study New Jersey Insurance Company
Problem1. - Budgetary slack.
In the Individual loan section we have a bad slack for “Salaries overtime”. The company spends 7 times more than planned. The employers in the individual loan section work hard, take much overtimes and this influence to the performance of company. Also the company spent the money for “borrowed labor” that she doesn’t plan.
In the corporate loan section we have a slack of 100% for “Salaries part time” and “Salaries overtime”. The company don’t use the budget for these 2 costs.
Mr. Somersby might control the level work force, review estimation costs and budget planning.
Problem 2. - Bad estimation for training mortgage examiners.
Estimated that the training takes 3 months but in fact it took a year and half. As a result, company has a bad forecasting “costs&revenue”, disbalanced management control etc.
Mr. Somersby might control the selection process of the persons for training. For example, they can change the requirements: to take the persons who had already a formal legal education. If nothing changes, they might review the budget.
Problem 3. – Company policy.
The company policy limits the activities. The policy made management reluctant to hire new employees.
Review the company policy and change it in the way to simplify the decision-making and to be free for hiring new employers when it is necessary.
Problem 4. – Dovetailing in the work flow and problem of communication.
This problem concerns the problem 1. For more details see last paragraph of Budget process.
Must reorganize the centralization of communication between all sections of law service. As solution, the company can organise meeting, increase people management, and implant activity reporting, special
In the Individual loan section we have a bad slack for “Salaries overtime”. The company spends 7 times more than planned. The employers in the individual loan section work hard, take much overtimes and this influence to the performance of company. Also the company spent the money for “borrowed labor” that she doesn’t plan.
In the corporate loan section we have a slack of 100% for “Salaries part time” and “Salaries overtime”. The company don’t use the budget for these 2 costs.
Mr. Somersby might control the level work force, review estimation costs and budget planning.
Problem 2. - Bad estimation for training mortgage examiners.
Estimated that the training takes 3 months but in fact it took a year and half. As a result, company has a bad forecasting “costs&revenue”, disbalanced management control etc.
Mr. Somersby might control the selection process of the persons for training. For example, they can change the requirements: to take the persons who had already a formal legal education. If nothing changes, they might review the budget.
Problem 3. – Company policy.
The company policy limits the activities. The policy made management reluctant to hire new employees.
Review the company policy and change it in the way to simplify the decision-making and to be free for hiring new employers when it is necessary.
Problem 4. – Dovetailing in the work flow and problem of communication.
This problem concerns the problem 1. For more details see last paragraph of Budget process.
Must reorganize the centralization of communication between all sections of law service. As solution, the company can organise meeting, increase people management, and implant activity reporting, special