Trinsic Residential Group is unlike an FOE. While the company shares some common aspects of an FOE as described by Raj Sisodia et al. in Firms of Endearment, it lacks a holistic view of its business model and a broad consideration of stakeholders. There are several reasons for its departure from an FOE including; a market focus, availability of resources and the small, disjointed number of employees involved in the company. Over a period of time the company has begun to run more in line with an FOE, but is still a long way from becoming a full-fledged FOE as the authors of Firms of Endearment define them.
Trinsic Residential Group (TRG) is a privately owned luxury apartment developer that is active in five states; Texas, Florida, Arizona, Seattle …show more content…
Notably, the compensation and benefit packages are strong, however the quality of life aspects of the company are somewhat lacking, with long hours and minimal vacation time. Broadening the flexibility of employee’s time would prevent burnout, leading to happier employees that are more productive and engaged. The company is spread across three states with about forty employees, which makes access to decision makers and a feeling of belonging in satellite offices difficult. As someone who has worked for the company for two and a half years, I have not stepped foot in the corporate office. This corporate structure leaves training solely in the hands of the VPs of the satellite offices, who are often burdened with massive workloads.
The disjointed satellite structure leads to a lack of company culture, it is simply hired, and I assume it is different at every office, there is no direct message to employees of TRG regarding policies, or culture. This could be rectified by having new hires visit the head office for a period after hire for basic training and to meet individuals that are involved with running the mission of the company. That would allow those employees to come back with a sense of belonging and a clear message of what the company stands …show more content…
Broadening the pool of stakeholders is in itself a difficult proposition. Many of these stakeholders are not customers, and have varying opinions on quality of construction, applicability of use and individual concerns like the incorporation of alternative energies. While these concerns can be considered, and a successful project will need to satisfy many of the stakeholders, many FOE based goals are not financially feasible, and often times the interest of direct stakeholders (financial partners) are at odds with the interests of indirect stakeholders (the community). Many of the changes would not take significant monetary investment, such as incorporating a company culture and finding a way to spread and solidify that message across the company. This message could seek to better the communities by outreach, volunteering and charity, all of these are feasible goals. Ultimately for a project to exist in the first place, primary stakeholders need to be considered in the face of a uniquely competitive process, many of the traits of an FOE can be incorporated or improved upon, but so long as the investor’s primary concern remains return on investment, may outward facing opportunities will not be feasible in
Trinsic Residential Group (TRG) is a privately owned luxury apartment developer that is active in five states; Texas, Florida, Arizona, Seattle …show more content…
Notably, the compensation and benefit packages are strong, however the quality of life aspects of the company are somewhat lacking, with long hours and minimal vacation time. Broadening the flexibility of employee’s time would prevent burnout, leading to happier employees that are more productive and engaged. The company is spread across three states with about forty employees, which makes access to decision makers and a feeling of belonging in satellite offices difficult. As someone who has worked for the company for two and a half years, I have not stepped foot in the corporate office. This corporate structure leaves training solely in the hands of the VPs of the satellite offices, who are often burdened with massive workloads.
The disjointed satellite structure leads to a lack of company culture, it is simply hired, and I assume it is different at every office, there is no direct message to employees of TRG regarding policies, or culture. This could be rectified by having new hires visit the head office for a period after hire for basic training and to meet individuals that are involved with running the mission of the company. That would allow those employees to come back with a sense of belonging and a clear message of what the company stands …show more content…
Broadening the pool of stakeholders is in itself a difficult proposition. Many of these stakeholders are not customers, and have varying opinions on quality of construction, applicability of use and individual concerns like the incorporation of alternative energies. While these concerns can be considered, and a successful project will need to satisfy many of the stakeholders, many FOE based goals are not financially feasible, and often times the interest of direct stakeholders (financial partners) are at odds with the interests of indirect stakeholders (the community). Many of the changes would not take significant monetary investment, such as incorporating a company culture and finding a way to spread and solidify that message across the company. This message could seek to better the communities by outreach, volunteering and charity, all of these are feasible goals. Ultimately for a project to exist in the first place, primary stakeholders need to be considered in the face of a uniquely competitive process, many of the traits of an FOE can be incorporated or improved upon, but so long as the investor’s primary concern remains return on investment, may outward facing opportunities will not be feasible in