Any organization with hopes to have long-term operation must ensure they have functional and efficient risk management processes. These would go a long way at curtailing disasters as well as strategically protect critical assets of the company. The processes must assume their roles and ensure they run through-out the postulated lifespan of the organization (Haddow G. et.al. 2007, p.496). The processes should have the four phases of disaster management namely; Prevention or Mitigation, Preparedness, Response, Rehabilitation or Reconstruction.
Further the firm should form a Risk Recovery Steering Committee within the organisation. The committee would have representation from all sectors of the organization and would comprise of senior management as well as representation from the business. This would ensure business continuity needs are met as well as ensure there is support of the project from the entire organization from its onset. The committee should oversee the implementation of the risk management policies.
There is also need to re-evaluate the leadership skills used by the organization. The world as we know it today has embraced democracy in all its spheres. Despite the capitalistic notions in the world’s economy in the world today, most organizational leaders have to appreciate the fact that by having a democratic leadership improves the morale of the employees thus influencing their production to higher levels. The leadership of CoalBlack should thus make pragmatic shifts from its current state to one that does not emphasis on getting the job done but rather how best to have the job done. This would thus open the organization to dialogue between the management and the employees and thus improve their relationship ultimately improving the production levels.
For the company to enjoy steady operation for the next 30 years it needs to improve their employees’ motivation. This can be gained by having the best practices in regards to employee retention. By offering better employment terms as well as having competitive benefits that reflect on the needs of their employees would go a long way to ensuring that the employees’ motivation is enhanced. Enhancing employee appreciation and recognition schemes and ensuring that there are regular training of the employees is just but a way of enhancing the desired employee motivation. They can also embark on human capital programs which would enhance innovation and motivation among the employees and their ultimate motivation (Becker, 1964).
CoalBlack should also embark on massive corporate responsibility initiatives and programs. As at the moment, the organization faces a lot of resentment from the community. This is because the company has failed in its corporate duty it owes them. This can be achieved by ensuring that it involves the community in several initiatives like environmental conservation. With a reserve which can last the organization for decades, if it embarked into projects to the...