They simply was not as they had been in the past. In the past years Edmunds Corrugated Parts & Service Company had seen earnings past the SIS million mark.
And now the company is beginning to see clear signs that revenues were becoming stagnated. Mr.. Edmunds felt the company did very well up until now. He had employed around one hundred employees that was loyal and worked hard to get the job done. A majority of the workers were neighbors to Mr.. Edmunds and had been at the factory since opening but, they was getting ready to retire. Edmunds felt it would be hard to replace the hard-working, loyal employees which an issue.
Although, Edmunds did not have any competition and the reputation for being dependable, giving above average and personalized service was still in tack yet, the increasing cost of steel, the changes in the box industry, the fact that a great deal of the IS. S_ plants that Edmunds served had closed or either taking business overseas, these issues had bought Larry Edmunds to a crossroad of what he should do to bring the company revenues back to oeuvre they use to be (Daft, R.. 2010).
Create and Describe a Strategy for Addressing the Situation at hand The first implementation to address the situation at hand is to evaluate new opportunities in the market–in terms of acquisitions, new products or services, collaborations With Others, etc. The next thing would be to examine every technology the company employs and identify ways to reduce cost. Introduce new or improved technologies internally that Will improve the functioning Of the organization. Identify and adapt new technologies to better meet the needs of the customers.
Determine what the unique strengths are and develop products that incorporate, or further incorporate these strengths. Establish clear job descriptions for every position and create a system whereby the responsibilities and authority of each position are clear to other people in the company, Conduct an analysis of major activities in the company (such as selling, orders taking etc. ) o identify ways to increase speed, reduce cost, eliminate unnecessary steps, and improve quality. Also, insure there are systems tort every activity.
Determine whether the accompany can innovate any new systems that will further improve performance. Determine it there are systems successfully employed by other companies that could be used by Edmunds Corrugated parts & Service Company. Determine if the company is exploring and taking advantage of every conceivable source of finance to make the business grow. While keeping expenditures within or below budgeted levels. Lastly, recruit people with a high level of energy and good health. Also, recruit people with the right type of personality to work well in the company and implement its values.
While ensuring all employees are involved and encourage the employees to come forward With ideas and proposals to increase efficiency, improve communications, foster cooperation and promote harmony Within the company, and between the company and its customers and its vendors (O’Connell, B, 2004). Assess Which Element in the Strategy you just Described Would be the Hardest to Implement and Explain why The element I think would be the most difficult to implement would be the recruiting of people with the right type personality that will work well with the company and Mr..
Edmunds. Because according to Daft, R.. 2010, Larry had stated “replacing those skilled workers was going to be difficult, he realized from experience. ” Also Larry was familiar with most of the workers because they were neighbors. And, since the town’s more educated and talented young prospects would probably leave the town in a desire to search for different types to employment. Therefore, in order to retain some of those young people to e employed at the company, which would probably make Mr..
Edmunds feel a little more comfortable that new hires are from the neighborhood, the company would have to come up with a strategy that will allow that to happen (Daft, 2010). Describe what Strategies Edmunds Could use in the Future to Reduce Potential Crises Before they Happen One strategy Edmunds can use in the future to reduce potential crises before they happen is to develop a mission statement and let the statement reflect the mission of the company from this point on. According to Cero, S. 2006, “a mission statement is a written document plopped by management, normally based on input by managers as well as managers, that describes and explains vat the mission of an organization actually is. ” It is very important for an organization to have a mission because it helps management increase the chance of a successful company (Cert., S. , 2006). Another strategy Edmunds could use is to perform a Strengths, Weaknesses, Opportunities and Threats (SOOT) analysis on a regular basis. According to Cert., S.. 006 a SOOT analysis “is a strategic development tool that matches internal organizational strengths and weaknesses with external opportunities and wreath. ” SOOT analysis is founded on the notion that if managers thoroughly review such strengths, weaknesses, opportunities, and threats, a beneficial strategy for ensuring organizational success will be obvious to them(Cert., S. , A third strategy Edmunds can perform is a critical question analysis. 2006), The critical question analysis ask four basic questions.
The first question is, what are the purposes and objectives of the organization? The purpose for asking this question is to give managers a feel torah direction the company is headed. According to Cert., 2006 “by answering this question during the strategy ruination process, managers are likely to remember this important point and thereby minimize inconsistencies among the organization’s purpose, objectives, and strategies. ” The second question, where is the organization presently going?
