Finance analyze and synthesize… | Business & Finance homework help
For example, if a company is looking to implement a new customer service strategy they may opt for a short-term initiative such as providing staff with additional training in order to increase customer satisfaction levels over the course of one quarter. Alternatively, they could also invest in developing digital platforms that allow customers to interact more easily with the organization; though this requires larger investments upfront and may only bear fruit over longer periods of time.
In either case, it is important for senior management teams to analyze both sides of the equation – weighing expected returns against associated costs – so that they can make informed decisions about which options provide them with their desired outcomes in an efficient manner. Additionally, clear criteria should also be established upfront so that progress can be tracked accurately and adjustments made accordingly if needed.
In conclusion, when it comes to selecting organizational development options from a management perspective; risk/return analysis should always be carried out beforehand in order for organizations to maximize benefits while minimizing expenses incurred along the way.