Business Case
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As a consultant for the Wallace Group, I have identified three most important areas that need immediate attention and have elaborated and provided recommendations for each one outlined below:
1) Organizational structure: as the business continues to expand, the need for competent and skilled human resources is required with clearly defined duties and responsibilities. Most importantly though, every organization wants the right person for the right job, meaning evaluating positions and assessing individual skills so that they are positioned strategically within the company to maximize efficiency and production by building teamwork and trust in the organization. I would recommend an HR Department (normally 1 or 2 persons depending on size of the firm) that will carry HR functions which include the above along with employee motivation, job satisfaction, conflict resolution, performance management, communication of vision and mission of the organization and creation of HR policies. These are only some functions but there are much more. Strategic Human Resource Management is important because it is the practice of aligning business strategy with that of HR practices to achieve the strategic goals of the organization and can be viewed as a competitive advantage.
2) Change Management Style- Mr. Wallace is an autocratic president who does the decision making and this has had a negative effect on managers/employee morale. He should change to a participatory management style with his managers (make them manage) and involve everyone in the strategic planning process so more ideas can be generated to plan the long run performance of the organization. More delegation of duties should also be done. This will boost morale as employees want to feel valued and appreciated.
3) Product Mix-the idea of diversification is a good idea however before the introduction of new products, the company must conduct industry analysis to find out information that will enable them to weigh costs/benefits, find out demand for product and to invest in the correct product which will maximize overall profits for the organization. Therefore, the product mix must be carefully studied (cost/benefit analysis) to achieve an effective integration of products to continue increasing market share and profits. While the departments are segmented based on the different products, it is still one company and all managers should understand the importance of