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Risk Management At Wellfleet Bank All That Glitters Is Not Gold Case Study Help

CASE ANALYSIS

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Risk Management At Wellfleet Bank All That Glitters Is Not Gold Case Study Analysis

Background and Facts

Risk Management At Wellfleet Bank All That Glitters Is Not Gold a workplace products store for tiny and average sized organisations has lately been associated with planning for a merging with its rival Residence Deport, which has influenced efficiency degrees in departmentswith the elderly manager associated with lawful complications presented by the government Profession Payment. With the Advertising and marketing Head putting forward the news of his separation from the business in one year, Jeannie Lewis, the present head of operations has been asked to take the duty in the near future. With challenges in the form of a potential social modification and low employee morale, the organization wants a total reengineering initiative at the advertising and marketing division.

Trouble Declaration
Porter's 5 Forces Analysis
The prospective social change at the advertising division of Risk Management At Wellfleet Bank All That Glitters Is Not Gold is increasing uncertainty in the working environment leading to various obstacles for the Jeannie Lewis that would be replacing the head of the department in one year. nalysis

PEST analysis

Political Factors: Political factors play a significant role in influencing critical choices because Stapes Inc. needed to abandon its plans of combining with Office Deport after the Federal Trade Payment's treatment in the process. Provided the fact that the shop has a worldwide presence with branches in UK, USA, Canada as well as Germany, political consider each of these countries may have the ability to influence efficiency or critical goals. Federal Profession Compensation's antitrust suit versus the merging occupied valuable time of the organization's senior monitoring recommending that 'political' factors can have major effects for a worldwide company.

Economic Factors: Financial factors such as the emergence of small companies in the global circumstance suggest that Risk Management At Wellfleet Bank All That Glitters Is Not Gold is thriving in an atmosphere where there is potential growth of organisations. Truth that shop consumers are mostly looking for office products for house workplaces recommends that the market has an increasing trend of business owners and also house based services.

Social factors: Social trends in the economic climate show that customers are searching for comfort as well as attractive prices. Market research demonstrates how the client for Risk Management At Wellfleet Bank All That Glitters Is Not Gold does not have recognition regarding finding services which can use a combination of convenience and inexpensive.

Technological factors: Modern technology plays an essential duty in Risk Management At Wellfleet Bank All That Glitters Is Not Gold's company approach specifically as the organization is piloting Technology facilities which would offer technology sales and also support in the form of memory upgrades, outer setups. (Recap of INSECT in appendix 2).

OB Issues as well as Effects.

Numerous underlying Organizational Behavior concerns can be seen in Risk Management At Wellfleet Bank All That Glitters Is Not Gold's case as highlighted in this area.

Concerns concerning cultural modification: There is apprehension regarding a social modification that would take place as soon as Todd Krasnow leaves from his placement as the Executive Vice President of Advertising with a lot of the staff members currently showing discontent over this possible step. This predicted change has developed stress in the workplace which has been paired with the previous stress and anxiety of preparing the company for a prospective merger with Home Deport.
Pest Analysis
Stressful Job Environment for Newcomers: There is shortage of workers that can match the difficult atmosphere of a busy organization. Not just does this cause trouble in locating the appropriate people, it places stress on brand-new hires as can not hold up against the speed and pressure that the organization expects them to birth.

Double Reporting Lines: Beginners discover this business society cumbersome and tough to cope with specifically as populated line relationships are indicated to be weak in general and unbiased setup and also performance evaluation is still done by the solid line supervisor. This suggests that newcomers might shed clearness regarding their corresponding roles and also purposes especially as populated line coverage does not keep them in direct interaction with the strong line managers.

Resentment From Cross Departmental Hiring: Krasnow's choice to make Lewis his follower as opposed to Bridget Coles even though it had actually been speculated that the latter would take Krasnow's placement came as an impact to her spirits. Lewis may have been capable and also proper for the work however the truth that Kransnow's separation would certainly make Coles a straight record to Lewis might have been the reason for Coles' resignation from services.

Anxiety & Work Instability: Fear and also instability can be determined as 2 significant worries that Lewis would certainly be taking care of specifically as the merging has actually currently be cancelled as well as two senior execs of the advertising and marketing department would be leaving. The whole responsibility of the department would certainly be falling on Lewis's shoulders that would not just supervise of brining about a cultural modification yet would also need to prove herself in her new role.

Incompatible Management Design of Leader: Lewis's administration style as well as its conflict with the advertising and marketing department's duty can also be viewed as an OB difficulty particularly as she has actually been utilized to taking care of issues in the operations division where employees are educated to focus on processes and obtain them right. The advertising division on the other hand can be seen as a team of individuals that are made use of to being nurtured by Krasnow that concentrated extra on outcome than procedures.

Interdepartmental Arguments: Interdepartmental disagreements in between 3 divisions, advertising, merchandizing and operations specifically over the appropriation of the advertising mix can be identified as another OB issue. The marketing department does not share the exact same vision as the various other 2 departments concerning the aloocation of the marketing mix twoards promos and advertsing, the merchandizing and also operations divisions do not concur over the advertising mix allocation among one an additional either.

Fragmentation in Advertising And Marketing Department: Fragmentation between the marketing and advertising departments can be recognized as an additional OB issue which can require further focus. The reality that the advertising and marketing sections in the advertising and marketing department are disconnected is avoiding both divisions from getting from each other's experience and also know-how. Assimilation of advertising with retailing as well as operations would certainly end up being harder if the advertising and marketing division itself is degenerated which can be one more possible OB issue.

Risk Management At Wellfleet Bank All That Glitters Is Not Gold Analysis

Different concepts have been utilized to discuss the situations to obtain further quality about the situation available.
Swot Analysis
McGregor's Concept X & Y: According to Douglas McGregor's Theory X, most managers think that subordinates are passive as well as lazy, have little aspiration as well as withstand modification. The circumstance at Risk Management At Wellfleet Bank All That Glitters Is Not Gold is not completely following Theory X, it can be seen that new hires are finding this environment instead stressful which might ultimately lead to a greater inclination of the management towards Theory X. Also while analyzing Lewis's administration design, concept X may have been ideal in the procedures division to some extent however the Marketing department would call for dependence on Theory Y in order to obtain the creative thinking and originality from the teams.

Tuckman's Synergy Theory: As much as Lewis's problem concerning bringing harmony in between the advertising as well as advertising department is concerned, this would originally lead to contrast as reviewed by Bruce Tuckman in his 'Team effort Concept'. By incorporating the advertising and marketing and advertising division's job, there might be the very same first separate which might lead to the 2nd stage of 'storming' where the groups test one an additional.

Bridges' Transition Version: According To William Bridge's concept (appendix 4), people are rather awkward with change, which is obvious by the scenario at Risk Management At Wellfleet Bank All That Glitters Is Not Gold The scenario can be viewed as a regular program of life if is studied according to Bridge's theory where he discusses that individuals undergo three stages of change when they experience adjustment. 'End, shedding and also Letting go', The Neutral Area and also 'The New Starting' (Bridges, 2004). When people are presented with modification, they enter stage one and so there might be feelings like unhappiness, unpredictability, irritation, anger, fear, rejection and disorientation.The scenario at the marketing division of Risk Management At Wellfleet Bank All That Glitters Is Not Gold is comparable so Lewis can obtain comfy with the suggestion that it is not extraordinary habits. In the 2nd stage, there may be a requirement to bridge the space in between the new and also old culture so Lewis might need to encounter this ordeal as soon as Krasnow leaves. There might be reduced morale as well as low performance at this stage which need to not be taken as a setback. It is during this stage that Lewis will need to provide advice to the department to ensure that they can discover a sense of direction. It can be seen how Krasnow has actually currently made this transition less complicated by making Lewis get involved in the department a year prior to his actual departure. As per Bridges' Version, phase three will certainly cause visibility to knowing, High energy and dedication as individuals will certainly welcome the adjustment (Bridges, 2004).
Vrio Analysis
Maslow's Requirement power structure: The OB problem pertaining to instability at the workplace has actually been activated firstly by the adjustment in management and also secondly by the truth that the merger will no more be started. Abraham Maslow in his Concept of 'Demands Hierarchy' (appendix 5) has discusses the significance of 'security requires as being a lower level requirement of a human for causing motivation. As seen in the pyramid cooperated appendix 3, we can see exactly how 'the demand to feel safe and secure and unharmed' is at the second degree of demands. Prior to a worker can be made to establish emotionally, he needs to have his 'Physical 'and 'Security' needs satisfied. This shows that unless the employees are made to really feel protected about their present work standing in Risk Management At Wellfleet Bank All That Glitters Is Not Gold they might not reach 'Self-Fulfillment'. (King, 2009).

SWOT Analysis for Risk Management At Wellfleet Bank All That Glitters Is Not Gold Case Study



Implication of Analysis.

The OB analysis has actually checked out different theories to understand exactly how to deal with the current scenario at hand. The following 3 alternatives have been recommended to help Lewis take care of the organizational difficulties in the advertising division. Each of these options has been suggested for alleviating the transition needed to bring the marketing division in accordance with the requirements of the market and for making the social adjustment that would certainly adhere to once the current leader leaves.

Combination of advertising and marketing functions. Separating Adverting and Manufacturing functions. Integration of Advertising with Procedures.

Assessment of Alternatives.

Combination of Advertising & Advertising And Marketing Functions: The in-house marketing firm of Risk Management At Wellfleet Bank All That Glitters Is Not Gold is currently strength for the organization in regards to conserving up on overheads related to marketing as well as promo. Because no brand-new employment has been done after Bridget Cole's departure with the reporting line being directly assigned to Krasnow for the advertising feature, this is a favorable chance for incorporating the advertising and marketing functions. Judith Shapiro who has earlier been spoken with by Lewis throughout the earlier merger days has know-how in business-to-business advertising in addition to firm and also retail marketing experience. As soon as Krasnow leaves, Lewis can hire Shapiro as an EVP for marketing to take care of both advertising and marketing features.

The advantage of this strategy is that it will certainly integrate both functions while minimizing the demand for hiring an added resource for advertising and marketing. Lewis would be heading the marketing division and also in any case her substitute would be required for the existing role that she is executing. The downside of this alternative is that outside hiring may produce bitterness from inner personnel that may be eying the placement of EVP after Lewis takes over Krasnow's setting.

Separating Adverting and also Manufacturing: Given the affordable stress and high quality work needed from the marketing firm, it is suggested that Lewis ought to permit the production device to be a different feature from the advertising and marketing device. Given that a lot of advertising agencies had these 2 features as separate systems, it makes more feeling to adhere to the standard.

Combination of Advertising And Marketing with Procedures: Since Lewis is already dealing with the advertising as well as procedures departments at the same time; it makes sense to integrate both functions considering that she has actually been successfully taking care of both ends. The reality that the two divisions currently have significant differences over allowance of resources recommends that this integration might have the ability to cause harmony specifically as Lewis would be heading both ends.However there are various downsides of this action particularly as it would put too much worry over Lewis's shoulders. The fact that Lewis has to adapt her monitoring design for the advertising division suggests that these 2 divisions would be culturally diverse. Lewis may not be able to use one type of leadership design to both departments which can result in inefficiency in either one of the two functions.

Referral.



An assessment of the 3 choices indicates that assimilation of advertising and operations would not be a practical relocation due to the substantial distinctions in between the two divisions in spite of the truth that presently Lewis is taking care of both. While splitting up of the production feature may have been a desirable relocation for the advertising and marketing department, the truth that it would imply placing a 3rd function under Lewis's wing indicates this need to be stayed clear of.

Action Plan.
Recommendation
Lewis will certainly take over the function of EVP Advertising and marketing after Krasnow leaves.

Marketing and advertising features would certainly be merged.

Judith Shapiro will be employed to take Lewis's place as SVP of marketing and advertising.

Manufacturing function will certainly continue to be part of advertising under marketing feature.

Lewis will certainly divide herself from operations.

A democratic management style with staff member empowerment will certainly be used in advertising and marketing department.

Open up door policy as well as focus on cross departmental communication will be focused on getting rid of discord.

Contingency strategy.

If the assimilation does not work out as planned, a contingency plan would adhere to which would certainly separate the manufacturing feature from the marketing function to lower the tons on the SVP of marketing and advertising. In case Judith Shapiro does not obtain hired, Lewis will certainly be heading the marketing division without an SVP. In that case the production function will certainly be separated by putting it under an SVP manufacturing.