Finally marketing has not generated sufficient excitement to meet the sales forecasts, so the CEO has given Jan Peters and the implementation team 30 days to turn things around or he will pull the project. Opportunity Identification Some of the opportunities that face Harrison-Keyes, Inc. are the success of a fully implemented e-publishing strategy, this will give them an opportunity to be one of the first in the e-book market as well as realize the potential revenues that are available.
On average it costs an organization $15,000 to $25,000 to replace a lost Millennial employee (Hershatter & Epstein, 2010). With figures so high for each replacement employers cannot afford for this to continue. If an employer and its leaders dismiss what Millennials want and need to be successful in the workplace now and in the future it will cost them greatly with high turnover rates. Employers must take the time to invest in Millennials as well as debunk all of the myths and stereotypes plaguing their perceptions of Millennials resulting in a disconnection between the two.
Strong competition is the biggest reason for tiny profit margins in this industry. Both companies use strategy that they think is the right for the given moment. We will analyze strategic moves that both companies made recently or are still making. Overview of HP’s strategy For a few years HP tried to make strategic changes that will reposition the company on the market and give driving force to keep distance between them and competitors. Until 2011 when Meg Whitman took CEO role, HP struggled with problems such as too many employees, spiraling debt, poorly executed and expensive acquisitions and declines in every one of its lines of business.
George Bernard Shaw said, “The single biggest problem in communication is the illusion that it has taken place” (Shaw). It is imperative that leaders and inspiring leaders prove good communication skills rather than assuming that he or she has good communication skills. The purpose of this paper is to inform readers that business experts can fail without effective leadership and communication skills; however, leadership and communication skills can be natural or learned. In September 2011, Hewlett Packard’s CEO, Leo Apotheker was fired and replaced within a year of being hired. The quick involuntary separation from the company came as a shock to many people.
Gap Analysis: Harrison-Keyes Harrison-Keyes is a global publisher of print products that specializes in scientific, technical and business books and journals, professional and consumer books, textbooks and other educational materials for all levels of study. Founded in 1899, Harrison-Keyes is shifting market to meet the needs of customers, by mid-1950s the company became a leading publisher of business, scientific and technical information (Apollo, 2008). Recently, publishing companies have seen stagnating sales and in an effort to continue building success and remain competitive, Harrison-Keyes have hired a new CEO, replacing Meg McGill, a strong believer of e-publishing and the one who pushed for Harrison-Keyes to shift market to that of e-publishing. The new CEO, William Guardo favors traditional publishing and has little high-tech experience, the opposite of prior CEO, Meg McGill. Situation Analysis Issue and Opportunity Identification Under the direction of prior CEO, Meg McGill, Harrison-Keyes was implementing e-publishing through an overseas company Asia Digital.
He had specifically allocated $400 million in the third quarter of 2001 to offset shortfalls, and was about to lose it. This infuriated Mr. Stupka because now his division would most likely have to show a large loss next quarter. The money was to be used to cover losses from customers who didn’t pay their bills. It was a common occurrence and an accepted accounting practice. However, Scott Sullivan, WorldCom’s former chief financial officer and Ms. Cooper’s boss, had decided to move the $400 million from Mr. Stupka’s wireless division and use it to increase WorldCom’s income.
Subsidiaries were blaming corporate for their missed earnings and visa versa [Lafley, 2003]. Strategies between the brands at P&G clashed and each were out to safe guard their own interests. The prices of their consumer products were too high while the company failed to deliver customer satisfaction. These factors distracted them from what had originally made them successful – being an industry leader in innovation (Markels, 2006). Seeing the downward spiral P&G was quickly ascending into, Lafley knew he had to act fast.
Lay and many other high executives caused the company and employees to lose millions. Jeffery Skilling played a major role in the Enron scandal which included, fraud, inside trading and mark-to-market accounting. Jeffrey was not focused on raising intrinsic value, he did want to increase the value but only so it would benefit him. Instead of doing it the legal way he may up values and it increased stock value. He knew the company was not making any money but he owned so much stock, he would lose everything if he reported the true earnings and book value.
As competition from low-cost retailers eats into profits, publishing companies are finding success -- or even survival -- a challenge. Technology is making print content more accessible to customers worldwide and is adding value for them by delivering it in interactive and/or fully searchable formats. Harrison-Keyes has recently fired CEO Meg McGill in favor of new CEO, William Guardo. William is the complete opposite of the recently fired Meg, who strongly support e-publishing. Though he has been in publishing for more than 30 years -- most recently as the President of a competing publisher -- he favors traditional publishing, has little high-tech experience and is not a big fan of e-books.
In the previous Scenario, it was revealed that Robert Smith, the CFO, also has doubts about the e-publishing initiative. In addition, judging by the escalating number of defections of staff members, a growing number of employees have misgivings. It is clear that the organization, in general, is bound to the old ways of doing business in traditional publishing. This organizational culture paradigm will be a barrier to progressing towards the new e-publishing business model (Gray & Larson, 2006, pg. 20, Chap.