Objecive FastCat
Phase 1: Objectives Report
FastCat, founded in 2001, is a successful company that creates software specifically for the medical field. Targeting small to medium sized companies, FastCat was able to expand fairly quickly to 200 employees and earn revenues of 36.5 million dollars. The success FastCat obtained also brought heavier competition such as bigger companies like IBM and Oracle. FastCat realizes they need to become more innovative in their software design along with keeping their employees happy and productive with good compensation plans, or risk being taken out of business.
Objective 1:
Within 2 years, increase revenue marginally by 17% to maintain costs more effectively.
As FastCat continues to expand it is important that our revenue expands as well. However, as our revenue continues to grow so do costs. It is essential to keep costs consistent from year to year, to ensure we are making a profit. Profits keep FastCat in business which keeps their employees employed.
Objective 2:
Align pay with employees competencies and working conditions on an ongoing basis.
FastCat is a growing company that is wanting to compete with established, large corporations. To stay on a competitive level, one of FastCat's business objectives is to become focused on strengthening certain departments over others. As consultants, our objective is to show what expectations and talents/skills come with what job description and how they are a piece of the big picture.
Objective 3:
Within one year, increase employee knowledge by 12% in regards to understanding how they are being compensated.
“FastCat needs highly committed employees who work together to support improved health care for its customer’s patients.” The objective of increasing employee’s awareness by 12% in regards to how pay is determined will improve their sense of commitment to the company and fulfill one of FastCat’s business strategies. Ultimately, having a more committed employee
FastCat, founded in 2001, is a successful company that creates software specifically for the medical field. Targeting small to medium sized companies, FastCat was able to expand fairly quickly to 200 employees and earn revenues of 36.5 million dollars. The success FastCat obtained also brought heavier competition such as bigger companies like IBM and Oracle. FastCat realizes they need to become more innovative in their software design along with keeping their employees happy and productive with good compensation plans, or risk being taken out of business.
Objective 1:
Within 2 years, increase revenue marginally by 17% to maintain costs more effectively.
As FastCat continues to expand it is important that our revenue expands as well. However, as our revenue continues to grow so do costs. It is essential to keep costs consistent from year to year, to ensure we are making a profit. Profits keep FastCat in business which keeps their employees employed.
Objective 2:
Align pay with employees competencies and working conditions on an ongoing basis.
FastCat is a growing company that is wanting to compete with established, large corporations. To stay on a competitive level, one of FastCat's business objectives is to become focused on strengthening certain departments over others. As consultants, our objective is to show what expectations and talents/skills come with what job description and how they are a piece of the big picture.
Objective 3:
Within one year, increase employee knowledge by 12% in regards to understanding how they are being compensated.
“FastCat needs highly committed employees who work together to support improved health care for its customer’s patients.” The objective of increasing employee’s awareness by 12% in regards to how pay is determined will improve their sense of commitment to the company and fulfill one of FastCat’s business strategies. Ultimately, having a more committed employee