Case Study A: Elektra Products Inc.
Introduction
An unhappy workplace results in demotivated employees leading to few new ideas and ultimately a decline in the company’s performance. This report analyzes the situation of a company going through a similar phase by identifying the core problem, performing a case analysis and offering recommendations.
Summary
Elektra products Inc.is an electronic manufacturing company that is held by the vice president Barbra Russel and has been in the business field for the past 80 years. Elektra’s specialty was producing all sorts of electrical products and selling them to the public. In addition to that, it was once a leading manufacturer and retailer of electronic products as was mentioned earlier. However, during the recent years, the company’s performance has started to decline and problems occurred within it which eventually led to a significant decline in the market share therefore it cost them their reputation and their place in the market as they have been set back due to the problems that the company had to face.
Martin Griffin, who has been hired by the vice president to help recover the failing company (Electra Products) from its decline, helped by empowering staff by giving them motivational and inspiring speech …show more content…
New product ideas were few and far between; departments such as manufacturing and sales barely spoke to one another. Elektra Products Inc laked Innovation ie, new product ideas and methods. The company lacked skilled employees and professionals in the innovation field that would’ve helped in creating new products and ideas. Innovation is one of the important elements/theories used in businesses. Elektra Products Inc also lacked in the communication field where employees communicated rarely,the manufacturing and sales departments rarely communicated. No meetings were held, No awareness regarding the performance of each department. There has to be a good communication in a business for a good
Introduction
An unhappy workplace results in demotivated employees leading to few new ideas and ultimately a decline in the company’s performance. This report analyzes the situation of a company going through a similar phase by identifying the core problem, performing a case analysis and offering recommendations.
Summary
Elektra products Inc.is an electronic manufacturing company that is held by the vice president Barbra Russel and has been in the business field for the past 80 years. Elektra’s specialty was producing all sorts of electrical products and selling them to the public. In addition to that, it was once a leading manufacturer and retailer of electronic products as was mentioned earlier. However, during the recent years, the company’s performance has started to decline and problems occurred within it which eventually led to a significant decline in the market share therefore it cost them their reputation and their place in the market as they have been set back due to the problems that the company had to face.
Martin Griffin, who has been hired by the vice president to help recover the failing company (Electra Products) from its decline, helped by empowering staff by giving them motivational and inspiring speech …show more content…
New product ideas were few and far between; departments such as manufacturing and sales barely spoke to one another. Elektra Products Inc laked Innovation ie, new product ideas and methods. The company lacked skilled employees and professionals in the innovation field that would’ve helped in creating new products and ideas. Innovation is one of the important elements/theories used in businesses. Elektra Products Inc also lacked in the communication field where employees communicated rarely,the manufacturing and sales departments rarely communicated. No meetings were held, No awareness regarding the performance of each department. There has to be a good communication in a business for a good