"The Wallace Group": Case 2.

Individual Project Unit 1.

A. What is the just about important problem liner the Wallace Group?

There are several problems facing the Wallace Group, but it seems the most crucial problem facing the group is two-fold; the lack of spate and prudence from the CEO, Harold Wallace and improper management.

a. His diversification program that resulted in the achievement of the chemical and plastics divisions lacked forward looking vision. He simply essential the companies to uphold a profitable operation without any direction to improve (Wheelen & Hunger, 2004, p. 2-5).

b. The bon ton seems to have difficulty in the hiring process. It seems the company is focused on cutting cost sort of than looking for effective employment resolutions. For example, instead of creating a management development program to train and recruit managers, the company relies on promoting technical staff. The cost cutting approach is also hindering the hiring of qualified engineers. The company focuses on hiring employees at the least practicable salary as an alternative to paying the required join for qualified expertise.

c. Another concern that arises is un-standardized systems of collecting data and presenting information. For example, some(prenominal) managers are using different data and formats for essentially the equivalent purpose, and therefore they create redundancy and higher workloads.

B. What recommendation(s) would you make to Mr. Wallace, and in what order of priorities?

Because I have given more than whiz important reason, I have several recommendations that will distribute each of the issues.

a. First, I would recommend that the Wallace Group execute a corporate governance policy familiar to a championship of its size. This would require that the company adopt a board of directors, which has cinque responsibilities (Wheelen & Hunger, 2004, p. 27):

1. Setting corporate strategy, overall direction, mission, and/or vision--the company could implement a diversification in...

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