Last Updated 22 Jun 2020

Futura Industries

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The Futura industries are aluminum industries that are mainly involve in mining and purification processes of aluminum. The president of the company has come up with the perspectives that have improved the financial positions of the industries, this has been achieved through achievement of growth through learning and good management practices. Importance of learning in an organization:

One of the major reasons of introducing learning is to improve the financial positions of the company; these is achieved when workers are trained and they to bring developments, workers gain skills in the process and are empowered in such a way that brings growth in an organization. Improved skills will result into increased productivity of each worker and as a result there will be increased productivity.

Stake holders gain from improved productivity in the organization, when stakeholders earn more there will be an incentive for more investors to join the industry, increased investment into the industry will result into increased growth and development of the industry. Increased productivity of workers will also lead to reduced production costs, workers are more productive and therefore produce more goods, when this happens there will be a reduction in the final price of these goods and the consumers will benefit in the process.

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Due to learning also there will be increased quality of goods produced and the beneficially in this case will be the consumer of the good. Experienced workers will also reduce losses in an organization, workers will need less supervision and therefore supervision costs will be reduced, when an organization reduces its production costs it becomes more competitive.

Economies of scale will be realized by the industry asd workers gain more skills through learning, there will be improved efficiency and effectiveness within an organization which results to internal economies of scale, as a result the cost of production will be lower than the competitors and therefore the organization will under price its competitors increasing demand for its goods. Analysis The main measure of success is the heavy agro industry investments.

This is as a result of attracting a large volume of investors into the industry, when the company increases its services by improving the rate of productivity the final products will be of high quality as a result more investors will be willing to invest, Futura industries will also invest through establishing more firms in the same region which will also be advantages associated with area such as the existence of infrastructure. In order to ensure the proper learning and the growth of the company, there have been different methods of improving performances.

This has been done through employment of qualified workers in the mining stage and the final stage of designing. They have employed workers who are well experienced and who are able to face challenge. Also they have employed skilled managerial staffs who are able to manage the company well. On the other hand the industry staff has introduced latest technology which is evident from introduction of modern equipments which help in improving productivity.

These equipments have greatly facilitated the production process especially the mining process, workers are able to extract aluminum and also produce pure aluminum that does not contain particles. In the other stages of extraction and refining the process is the same in terms of efficiency and ensuring the final products are of high quality. The workers are assured better working conditions; this is done by providing them with safety equipments and also clean environmental conditions.

This ensures that the workers are work under on the good conditions reducing risks of accidents and ailments. Employees now work effectively without any risk and improve the health of the workers reducing on health expenses incurred by the organization. Conclusion These measures captures the full dimensions which helps an organization to become more productive, the operational process ensures high rate of production of materials which are of high quality.

When well applied the industry goods will get to the market at low prices and this will attract more customers and investors. More investors will be attracted due to high profits gained in the industry and more investment means growth and development of the industry. More investment will also mean the expansion of the production process and therefore increase employment, finally the consumer will benefit from the low price yet high quality products.

References: Johnson D. (2003). The balanced scorecard at Futura Industries. , Strategic Finance, 85(1), page 36 to 42

Futura Industries essay

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