Wallace Group Case Study

What is the most important problem facing the W everyace group? Mr. Wallace has all the control over policy and operations and he is provided concerned with profit. He is not looking at formulation for the future development or staff. The staff he has doesnt nourish the back ground to operate in management positions. Because Mr. Wallace is the chairman and president of the Wallace group. He continues to make the decisions for the companies of the individuals employed by him. It is like one person is dictating and running all 3 companies with no input from anyone else. Mr. Wallace is so concerned with profit that he isnt concerned with hiring the best employees for any open positions. What recommendations would you make to Mr. Wallace and in what order of priorities? The first order of business for Mr. Wallace is to reorganize and deem new members of the get on of directors. Mr. Wallace needs a board of directors that is make up of outside and inside directors. These boards of directors should have the education and discover to hold these positions. The typical large US Fortune chiliad corporation has an average of 11 directors, 2 of whom ar insiders.

return though outsiders account for slightly over 80% of the board members in these large US corporations, they account for only nigh 42% of board membership in small US companies. (Wheelen & Hunger, 2006) It has been stated that outside directors be less biased and more(prenominal) likely to evaluate managements performance objectively than are inside directors. Even research reveals that the likelihood of a cockeyed engaging in illegal behavior or be sued declines with the addition of outsiders on the board. (Wheelen & Hunger, 2006) Then Mr. Wallace needs to make certain(p) that everyone on the board understands their roles and responsibilities as they apply to strategic management. The roles are as follows: 1.Monitor- Through committees the board will stay au courant of developments inside and outside the corporation and... If you want to get a full essay, order it on our website: Orderessay

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