MGT485-0601A-02-IP Unit 1
Dr. Jack Aschkenazi
January 7, 2006
The most important problem facing the Wallace Group is the micromanagement of the organizations by the CEO Harold Wallace (Wheelen and Hunger 2006 p. 2-1-2-10.) The Wallace Group should empower rather than micromanage. All areas of management should be monitored. The failure to develop sufficient management accountability, communications and oversight results in the breakdown of tasks and processes that are reflected in lost productivity as well as profitably. Management should create and communicate reasonable controls to validate the job at hand. These controls can lead to inadequate or ineffective performances that must be corrected or mitigated.
I would begin by explaining to Mr. Wallace that Strategic management is the process by which strategies and policies are put into action through the development of programs, budgets and procedures (Wheelen and Hunger 2006 p. 16.) I would further explain that an organization's objectives must be identified in order to develop such policies and plans. The Chief Executive Officer (CEO) and executive team should implement such plans. Strategic Management provides overall direction to the whole enterprise. The organization's strategy must be appropriate for its resources, circumstances, and objectives. The process involves matching the companies' strategic advantages to the business environment the organization faces. One objective of an overall corporate strategy is to put the organization into a position to carry out its mission effectively and efficiently www.wikepedia.com A good corporate strategy should integrate an organization's goals, policies, and plans into the entire organization so that the entire organizations needs are met (Wheelen and Hunger 2006 p. 16. )
The best course of action for the Wallace Group to take consists of the following:
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