A Failing Organization: Turn Around Strategy, Research Paper Example

Introduction

During periods of corporate distress, management is faced with unique strategic management challenges. At these times, an organization might be facing or actually be in bankruptcy. Assuming that the organization still have substantial potential that is worth saving, a strategy for its renewal can be devised and executed.

Outdated Product Lines

A slipping market and an outdated product line imply that buyers are disinterested in what we are selling. This can be attributed to the product being obsolete, too expensive, lack of quality in our model, or targeted at the wrong market (Cole, 1996). My approach will be to request sales, advertising and marketing managers to carry out a research aimed at understanding the performance of the competition and their contemporary changes; additionally, research should be conducted on similar product lines so as to recognize forthcoming ideas that are related to our product. A keen observation should be undertaken towards the shift in technology with reference to our product line. Existence of a market should also be put into consideration in the case of our product. Fresh ways of replacing or modifying our product to meet the customer and the current market should be sort. Finally, environmental friendly and contemporary means of providing the same product should be sort.

Adversarial Communication

Remarkably, after completing meetings concerning the product line, I will make arrangements to convene a meeting with individual departmental heads. I will bring to their attention the improvements needed on communication. I will inform them that corporate information, all the way from financials to full market data, ought to be shared with all employees and ideas from employees concerning such matters must be discussed with them. To encourage growth of this behavior, I will take the initiative and inform management to put up an incentive scheme; this will reward the first two departments that will succeed in opening and be able to sustain the good communication.

Competition for Internal Resources

On the grounds f the outcomes provided by the market research plus the responses gotten from strategic communication plan, my approach will be to utilize the discovered evidence regarding what ought to be done plus its justification and take it to the top management, and ask for funding for the promotion of our fresh product. I would ask for a projected financial report from our accounting department that will depict the anticipated performance in case the product meets the customer’s expectations.  I would also take a step in advance to inform top management that there will be an expense in launching the new product.

Steps to Manage the Transition From the Old Organizational Structure to the New

My approach as a fresh manager will be to institute solid but gradual changes. It is worth noting that as a result of the gradual changes with employees involvement may and/or will generate resentment.   To ensure that the environment is maintained while gradually introducing the fresh tasks, persistence of open communication will ensure a sense of purpose for the division. It is also important to familiarize myself with the workers through knowing their performance record, job description and their makes.  This is intended to build trust through my concern and care. Provision of constructive feedback is imperative to enhance the accommodation of the forthcoming change by the employees. Employees should be directed in such a manner that they can realize where they need to go and where they are at the current (Polyani & Amartya, 2009).

Assessing and Integration of External Environment Into the Turn-Around Plan

Once the product line and communication turnaround has been effected fully, the external environment stills stands as challenge to the improved product. As a manager I will organize for a research to be carried out. This will give a clear picture of whether the market changed since the changing and introduction of the product, what level is my competition. To counter these, I ought to discuss the use of sales campaign and promotion methods to be used, this will aid in testing the market changes as well as consumer feedback. I will assign time line allowing implementation of test market and new product integration. Finally, I will find out accurately the effect of the production on this product to the consumers (Johnston, 1999).

Conclusion

Despite the fact that market is the key determinant of the achievement of this plan, through improving of communications, augmenting employees’ morale and involvement, and seeking to improve what is not working within the department whilst respecting that which is functioning, the division or the organization has better chance of success.

References

Cole, G.A. ( 1996). Management Theory and Practice. 5^th Ed. New York: British publishers.

Johnston, R. (1999). Cases in Operations Management: Financial Times.  New York: Prentice Hall.

Polyani, M. & Amartya, S. ( 2009). The Tacit Dimension. Chicago: University Of Chicago Press.