Recommendations to the Wallace Group Essay Example for Free

Recommendations to the Wallace Group Essay I have concluded my interviews with your team and have a list of recommendations based on priorities. The recommendations are unbiased and not intended to be personal attacks on the current management; they are based on the sound management principles and intended to maximize your company’s potential. a. Realign the corporate structure. Begin by recruiting a new board of directors using outside directors, â€Å"executives of other firms but are not employees of the board’s corporation†1, in addition to a limited number of management directors from inside the company. This combination of three companies working as independent entities is not working, they must be integrated and a different management organizational structure must be implemented. This group will be able to accomplish the next recommendation. b. Develop a mission statement and goals. The company must embark upon strategic management planning. This will include: †¢Clearer sense of strategic vision for the firm †¢Sharper focus on what is strategically important Improved understanding of a rapidly changing environment1 The Wallace group lacks vision and goals for its divisions and this leads to a lack of direction for the management team. A mission statement â€Å"defines the fundamental, unique purpose that sets a company apart from other firms of its type and identifies the scope of the company’s operations in terms of products offered and markets served†1. This business must develop a corporate wide strategic management plan to set a direction for the company and its shareholders. A part of this management planning would consist of SWOT analysis, strategy formulation, implementation and evaluation. This process is often referred to as Plan – Do – Act – Check or PDAC and is a continuous process. Making a profit today is not enough; there has to be an evaluation of where the company is now, where will it be in 2, 5, 10 years and how the company will attain those goals. c. Change the organizational chart: There needs to be an in-depth evaluation of the personnel currently in place. The current chart is one of vertical structure and should be revamped to be more horizontal. This accomplishes the goals of empowerment and coordination between the divisions. A glaring problem is the VP of the chemical division, J. Luskics, as he was the former owner that guided the company into foreclosure and appears to not be running the division efficiently now. The chemical division is not even internally competitive for the plastics or electronics divisions. Mr.Luskics should either be bought out of the company or reassigned to a position that he might be successful. There also is a redundancy among positions in the company, for example there are three directors of industrial relations, these positions should either be combined or incentivized to cooperate in the best interest of the company. d. Personnel development. There is no apparent leadership development in place and the company has relied on promoting technical staff to management positions which many are not equipped to handle. There needs to be a leadership development series initiated, leadership retreats to communicate and encourage relations amongst the teams, and perhaps some Management Assessment of Proficiency (MAP) testing to asses the current management team. Management development and succession planning must be implemented to ensure long term success. Job responsibilities need to be developed and implemented for all positions but specifically for the management team; including specific goals, budgeting, forecasting (long range planning), training, and staff satisfaction. . Communication. The lack of clear strategies, long term plans, goals and objectives has led to the recent revolt at the stockholders meeting. This is a clear indication of the frustration felt from the staff level up and the new direction of the company must be clearly communicated to all staff. Enthusiasm is contagious and the presentation of a new course for the company will be very exciting for staff. Employee surveys, sugges tion boxes and an engaging of the front line staff will do much to improve morale and spark improvements. I would like to commend you sir for creating a successful company but I do believe there are concrete steps that you can take to improve the future of this company. Mr. Wallace I believe the development of a vision will produce great results, with this vision you will attract personnel that want to be a part of a great company and profits for all involved will naturally follow. Remember â€Å"Visionary companies make some of their best moves by experimentation, trial and error, opportunism, and – quite literally – accident†2. I estimate that this plan of action will initially cost $1. 5 million but there will be cost savings realized in personnel reassignments, recruitment and retention, productivity, and a renewed sense of commitment that will be reflected in profits far surpassing the costs.

Marxist Criticism Essay -- Karl Marx Marxism Essays

Marxist Criticism Introduction Marxist literary criticism is based upon the political and economic theories of the German philosopher Karl Marx. In works like The German Ideology and The Communist Manifesto, written with Frederick Engels , Marx proposes a model of history in which economic and political conditions determine social conditions. Marx and Engels were responding to social hardships stemming from the rise of capitalism. Appropriately, their theories are formulated specifically to analyze how society functions in a state of upheaval and constant change. A materialist view of history Using Hegel's theory of dialectic , which suggests that history progresses through the resolution of contradictions within a particular aspect of reality, Marx and Engels posit a materialist account of history that focuses upon the struggles and tensions within society. As society forms more complex modes of production, it becomes increasingly stratified; and the resulting tensions necessitate changes in society. For example, the introduction of heavy machinery into the feudal economic system fragmented existing social structures and necessitated a move towards capitalism. The base and superstructure model Within Marx's dialectical account of history is the idea that a given individual's social being is determined by larger political and economic forces. Marx writes that "it is not the consciousness of men that determines their being, but, on the contrary, their social being that determines consciousness." Simply stated, the social class into which a person is born determines her outlook and viewpoints. Marx then expands this concept of determination into one of the central concepts of Marxism--that of base and sup... ...with theories that focus upon how literature functions within social, political, and economic structures, than it does with theories that focus only upon the text. Marxist criticism has had an enormous influence on feminism , new historicism , and most recently, cultural studies . As a system that looks for causes beneath the surface of society, Marxist criticism has much in common with psychoanalytic criticism . In fact, it is possible to make a rough comparison between the Marxist model of base and superstructure and the Freudian model of unconscious and conscious. Works Cited Eagleton, Terry. Marxism and Literary Criticism. London: Metheun Books, 1976. Selden, Ramden. A Reader's Guide to Contemporary Literary Theory. Lexington: University Press of Kentucky, 1985. Williams, Raymond. Marxism and Literature. Oxford: Oxford University Press, 1977.

Week Chapter Questions

Team Oriented: You will become part Of a special, elaborate team when you become part of supply management. The team will consist of engineers, operations, and quality people and suppliers to help the firm obtain necessary supplies, materials, and services as the vignette alluded. Competitive Salary: Starting salaries in supply management arena is lucrative. Although education and experience drives your starting salary, possessing minimum education (Associates Degree) and limited to none experience will still prove to be beneficial in regards to your salary. . Describe seven ways in which supply management has an impact on a firm's sales. Listed below are seven ways in which supply management has an impact on firm's sales: Faster to Market: Bottom line – The faster you can introduce a new product or service to the market, the larger market share you will encompass. Improved Quality: Leasing the total number of defects that a manufacture produces, the more they can command prem ium prices. Furthermore, having a reduced of defects can satisfy your customers and alleviate them from amount going to competitors.Price Flexibility: Having a strategic outlook can significantly reduce the total cost. Example: Is it more beneficial to lease a vehicle than to buy one? Would surmise that leasing would; lease vs.. Purchase analysis is the key. Innovation: Collaboratively communicate with your supply base; holds a lucrative percentage of all new successful products. Enhanced Customer Satisfaction: Customer service drives sells – up and down – depending on the service rendered. Customer Fulfillment Flexibility: Strategically planning allows more lead-time and flexibility if changes may occur.Shorter Cycle and Lead Time: Improved supplier camaraderie and participation in supplier product and process improvements is advantageous. 13. Why does support for strategic supply chain management have to come from the top management of an organization? Strategic supp ly chain management has to come from the top due to their position. If they are not cascading appropriately, then their subordinates will not buy in to what they are trying to achieve. Chapter 2 1 . Why is supply management's position in the corporation's organizational structure important?Organizational structure significantly influences the department's capability to function optimally and persuade the decision- making process involved in effective procurement. The higher supply management is on the organizational chart, the more he/she can influence corporate strategy considerably. 4. Why are many organizations using a hybrid approach to decision-making authority in their supply management? Organizations are using hybrid approaches in decision-making authority in their supply management, to cut down on cost.In the early 1 sass, the introduction of computers made it considerably more accessible, in regards to procuring goods and services. Electronic billing and payment of invoices , enhanced cash flow while minimizing the total cost of doing business. 7. Identify some ways in which cross-functional teams could be useful in developing new products or completing value analysis functions. Cross- functional teams could be useful in developing or completing value analysis functions in regards to the development or addendum to a statement of work.Take for instance, an upcoming complex food service contract. You may not be a food service subject matter expert – no worries. Surround yourself with subject matter experts, to create the statement of work. Personnel that should be involved are the contract officer, contract officer representative, technical expert(s), lawyer(s), and any other representative that will facilitate with the statement of work. Chapter 3 3. How can engineering product specifications affect the price of the product?Material specified by engineering must be cost effective, to have an idea return on investment in regards to the price of th e product. Preferably, you would like to have your material accessible by multiple suppliers for a more resourceful, low-cost manufacturer. Although, you want to get the best deal (bang for the buck), ultimately, you want to ensure your product is justifiable for your customers. 4. How can a product that costs more save the company money overall? Products that cost more can inevitably save the company none overall by purchasing a more reliable, durable and/or cost efficient product.

Apple Of My Eye - Original Writing Essay - 1178 Words

Apple of My Eye I met Amanda during my first day of my high school, and she caught my attention. She has twinkling eyes and her long black hair lies back in curls from her delicate ears. An idea came out of my brain that: I want to make friend with her. And then, naturally, we became best friends. In the rest of our high school life, we spent a long time accompanying with each other and shared our experience, our memories, and our lives no matter it was good or not. According to our conversation, we found that we have the same hobby, same belief and dream, and same living attitude. All of these linked us closer and finally everyone envied our friendship. She is really important to me because Amanda influences me a lot, not only for my study but also for my characters and lifestyle. It was an ordinary afternoon; our teacher gave our feedbacks of our exam. I did really bad that time. Amanda saw that I was frustrated with my scores and comforted me. Then she asked me to mark which questions are difficult for me and which questions are simple but I did them wrong. After that, she taught me how to do those confused questions. If there were some simple algorithms, she would teach me without any reservation as well. â€Å"Sebrina, see these questions! They are similar to the questions you did wrong. You have to do it first, and I will correct them for you. Well, we can hang out if you did all those questions right, hurry up!†, always encouraged by Amanda. And before the exams, AmandaShow MoreRelatedAspects of Virtual Communication1284 Words   |  5 Pagesthat I did not believe was actually real happened just last week. A bright light was shined in my face, causing me to see an afterimage. An afterimage is an optical illusion that refers to an image continuin g to appear in ones vision after the exposure to the original image has ceased. 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