The Wallace Group currently faces some problems with it company in relation to improper management. To begin with, the company seems to have difficulty in the hiring process. It seems that the company is focused on cutting cost rather than looking for effective employment solutions. For example, instead of creating a management developing program to train and recruit managers, the company relies on promoting technical staff. The cost cutting approach is also impeding the hiring of qualified engineers. The company focuses on hiring employees at the least possible salary as an alternative to paying the required amount for qualified expertise. Another issue that arises is un-standardized methods of collecting data and presenting information. For example both the vice president of marketing and the director of advanced systems collect and utilize data for marketing purposes. Their problem lies in the fact that both managers are using different data and formats for essentially the same purpose, and therefore they create redundancy and higher workloads. By far, the most crucial problem facing the group is the lack of vision and direction from the president, Mr. Wallace himself. His diversification program that resulted in the acquisition of the chemical and plastics divisions lacked forward looking vision. He simply required the companies to maintain a profitable operation without any direction to improve.
In terms of priority, I would first recommend that the Wallace Group implement a corporate governance policy familiar to a business of its size. This would require that the company adopt a board of directors. A board of directors has five responsibilities:
1. Setting corporate strategy, overall direction, mission, or visio...
... middle of paper ...
... management techniques from them. This is particularly solid approach since the methods employed have already been tested and the results can be predicted. The other theory I would use to educate Mr. Wallace is the organizational learning theory. It states that “…organizations adjust defensively to a changing environment and use knowledge offensively to improve the fit between the organization and its environment.” (Wheelen, pg8) To utilize this theory the company must respond to the changes to reduce negative impacts and position itself to take action. This allows for the company to essentially learn from its environment and lead to its own innovations in strategic management.
Wheelen T.L., Hunger J.D., Strategic Management and Business Policy Prentice Hall, Upper Saddle River, NJ (2004)
Bay Area Industrial Education Council, Employee turnover cost table retrieved Jun 10, 2005
Information Week Issue 1041 Wal-Mart to Suppliers: Clean Up Your Data retrieved Jun 10, 2005
Need Writing Help?
Get feedback on grammar, clarity, concision and logic instantly.Check your paper »
- The Wallace Group The Wallace Group, Inc., is a diversified company divided in three groups, Electronics (microelectronics, electromagnetic sensors, antennas, microwaves and minicomputers), Plastic (electronic, automotive switches, knobs, keys, insulation materials), and Chemicals (supplies bulk chemicals to the Plastic Group). These products are principal sales in the government and the automotive industry, and also display system for the Navy-A and the Air Force-B programs. Lately managers feel that each company is independent from each other and that is why Hal Wallace, President of The Wallace Group, hires Frances Rampar for a possible consulting assignment.... [tags: Retail Electronics Companies Business Essays]
765 words (2.2 pages)
- Convincing, Indefatigable and influential are the best adjectives to explain Letter from Birmingham Jail. Martin Luther King Jr's astuteness is enhanced by the astonishing capability to show the unkind and heartless attitude against black community. Throughout the whole writing to the eight clergymen Jr. never get too far from the clash for fairness in Birmingham. As head of the South Christians Leadership Conferences (SCLC), Martin L. King, Junior., in the year 1963 acknowledged Birmingham, Alabama, as "possibly the most carefully segregated city in the United States".... [tags: Rhetorical Analysis, Civil Rights]
1217 words (3.5 pages)
- The Wallace Group Case Analysis Introduction The Wallace Group is a diversified company that deals in the manufacture and development of technical products and systems. The company consists of three primary operating groups, electronics, plastics, and chemicals. The electronics group is by far the largest, its size is approximately the size of the plastics and chemical groups combined. Of the $70 million in net sales, the electronics groups contributed about $35 million of that, with plastics contributing $20 million and the remaining $15 million coming from the chemical group.... [tags: Business Analysis]
1926 words (5.5 pages)
- What Is Strategic Planning Strategic planning is a group of processes and analysis and analytical processes that allow a company to understand where they are within their market, and create a clear path to their future. Companies usually have short term goals and have set some long term plans, these goals or plans should be a part of the mission statement. The mission statement should clearly state who the company is, what they do, why they do it, and what they plan on doing. Strategic planning assesses both long and short term goals within the planning process.... [tags: Management, Strategy, Plan, Strategic management]
1182 words (3.4 pages)
- Similar to the SWOT analysis is the PESTLE analysis which allows for a more comprehensive study of the external elements affecting a business. Before any new strategy is developed a PESTLE analysis should always be performed. This technique focuses on the political, economic, social, technological, legal and environmental factors that may threaten to affect a business. It is a very useful concept that is used as a tool by organisations to assess the environment they are operating in or hoping to operate in as it gives a over arching view of the environment as a whole from many different perspectives.... [tags: Strategic management, Management, SWOT analysis]
883 words (2.5 pages)
- To: Harold Wallace, President of the Wallace Group Subject: Rampar Associates, Consulting Analysis EXECUTIVE SUMMARY The Wallace Group, Inc., is a company that consists of three operational groups (Electronics, Plastics and Chemicals) and a corporate support staff. The groups operate independently from one another, but also require the support of each others products on specific contracts. Since the companies are currently working independently the focus and direction is not well defined for the Wallace Group as a whole.... [tags: Business Analysis]
1744 words (5 pages)
- Introduction Barclays group PLC is one of the largest financial providers in America, Europe, Asia, Australia, Africa and Middle East. , It which is mainly engaged deals with credit cards, retail banking, investment banking, corporate banking, and wealth management. The bank is made up of investment and corporate banking, global retail banking and wealth management, each of which has several business units (Burn, Cartwright &Maudsley, 2009). Barclay’s group practices integrated global banking that which serves their clients and customers and also optimizing risk adjusted for their shareholder returns.... [tags: financial provider, banking, industry growth]
2966 words (8.5 pages)
- Strategic realignment of the BMW Group announced At the end of September 2007, the BMW Group took on a new strategic direction. Up to the year 2020, the BMW Group intends to strengthen its position within the global premium automobile market by increasing volume of sales to more than two million units per annum. The mission statement is clearly defined: the BMW Group is the world’s leading provider of premium products and premium services for individual mobility. This means that in addition to striving for organic growth in the core line of business, the BMW Group will also engage in new and profitable areas of activity throughout the automotive life-cycle and all the way along the valueadde... [tags: Strategic Management]
1096 words (3.1 pages)
- More and more, experts in the field of strategic planning and management are advocating for more attention to be paid on strategic thinking, and recommending for it to be considered a separate and distinct stage in the strategy planning and executing cycle. Results from the strategic thinking exercise feeds directly into creation of the strategic vision, which according Thompson, Strickland & Gamble (2008) is the first phase of a strategy-making, strategy executing cycle. Ingid Bonn (Bonn, 2001) is very convincing in her argument that not only is strategic thinking an important aspect of any manager’s role, but also that the thinker has special qualities.... [tags: Strategic thinking Management Analysis]
901 words (2.6 pages)
- Strategic Thinking Many city departments in other states have faced similar issues as the Houston Public Library. The Houston Public Library can benchmark those companies that have demonstrated strategic thinking to resolve parallel issues. Strategic thinking is the approach in which group in an organization think about, access, view, and creates the future for themselves and their associates. It is more than responding to day-to-day as well as long-term problems, opportunities, and new realities; it is creating tomorrow.... [tags: Strategic Analysis Organization]
1044 words (3 pages)