Case 2 of the textbook focuses on the various problems that the Wallace Group is facing in terms of corporate governance, particularly the aspect of executive leadership. The case outlines not only the steps that the firm took to identify the matters facing its corporate governance as well as the approach that could be employed to deal with the matter. In fact, the issues touched on diversification and the need for employee morale.
Synopsis of the Case Based on the information of the case, leadership is the most apparent issue that the Wallace Group is facing. Undeniably, the company has a well-structured Board of Directors. However, effective corporate governance seems to be lacking. The reason for this is the apparent lack of a proper transition …show more content…
Employees are less moralized to work given the many challenges in terms of resource availability that they face in the firm. According to Oddou, Mendenhall, and Stahl (2012), a company that allows many experienced workers to retire at an early age like the case of the Wallace Group is likely to impeded the business expansion process.
Recommendations
To improve the effectiveness of every team at the Wallace Group, resources that are vital to the function of each team should be directly availed. In addition, realistic goals should be created for each firm to direct operations and measurement of performance. Finally, each team requires access motivation to boost their connection with the environment in which they are working.
Conclusion
The Wallace Group is facing problems that are related to poor corporate governance. First, micromanagement of all divisions is a sure recipe for failure in any firm. Teams should be encouraged to work in a collaborative manner. In addition, resources and personal should be channeled to each division based on the work description and requirement. Finally, the company should address issue of technology adoption to ensure that the potential users can work with the
Synopsis of the Case Based on the information of the case, leadership is the most apparent issue that the Wallace Group is facing. Undeniably, the company has a well-structured Board of Directors. However, effective corporate governance seems to be lacking. The reason for this is the apparent lack of a proper transition …show more content…
Employees are less moralized to work given the many challenges in terms of resource availability that they face in the firm. According to Oddou, Mendenhall, and Stahl (2012), a company that allows many experienced workers to retire at an early age like the case of the Wallace Group is likely to impeded the business expansion process.
Recommendations
To improve the effectiveness of every team at the Wallace Group, resources that are vital to the function of each team should be directly availed. In addition, realistic goals should be created for each firm to direct operations and measurement of performance. Finally, each team requires access motivation to boost their connection with the environment in which they are working.
Conclusion
The Wallace Group is facing problems that are related to poor corporate governance. First, micromanagement of all divisions is a sure recipe for failure in any firm. Teams should be encouraged to work in a collaborative manner. In addition, resources and personal should be channeled to each division based on the work description and requirement. Finally, the company should address issue of technology adoption to ensure that the potential users can work with the