Discuss the below in detail:
Joan Salmon is the 35 year old daughter of Garret Salmon the owner of a medium sized party invitation company, "Invitations Inc." Joan has recently received a degree from UMUC in Business Management and is anxious to take over her father's company. She is a single mother, very attractive but a little retiring in her manner. She and her father have been planning her take over for several years ever since her ex-husband left the business after their divorce, an event that did not go unnoticed within the company. Joan has always worked in some capacity within the company but never in a serious leadership role. She is simply known as the "boss's daughter". Joan and her father have agreed that she will take over as CEO in the next two months. No one knows of this decision.
Having taken BMGT 317 Joan realizes that she has a lot of important decisions to make if she is going to make this transition work. The first thing she has to do is take stock of the company. This is what she sees. The company has netted 1.5 million in sales for the last two years with no growth rate. Costs have, however, increased by 3 percent. The company produces and sells a variety of invitation styles and price points but her most popular items seem to be either the "budget" invitations or the "high end" expensive paper products. Her sales people have traditionally only sold to card stores or stationers. The company has never sought to sell directly to the customer. Joan would like to explore the online market for future growth potential. In addition to new markets, Joan would like to revamp the company image and marketing plans. The business side seems solid right now but her father has never really changed things since he started the business forty years ago. The business needs growth products.
Her father, Joan thought, is another matter. What is his role going to be? He jokingly says that he wants to go into "semi retirement" but never really says what that means. In fact, Joan is not really sure that he wants to retire. When she asks him what role he wants his reply is "I have just one request, don't make me a figurehead. I would rather retire completely. You choose the job or have me retire either way I will do what you want. It is your show now sweetheart. " Garret Salmon is an extrovert through and through. He always wants to be near the action and thrives on running the company. Joan is not sure what would be best for him and her emotions are torn as she wants him to be happy but at the same time does not want him to usurp her authority. His open personality and hands on style has made the business what it is now, but is it what will make the business grow? Joan knows her Dad has been successful, but her role as the "I'll do any job girl" has made her privy to company gossip and it has made her wonder. New middle management staff of which there are three, say he is nice but too controlling while others such as the Vice President and CFO, men who have been with him for 25 years, just go with "his" flow. They do not question anything he says. Joan wonders, "Can this work for the future? What should I do with my father?"
Instructions
This project allows student to demonstrate what they have learned in the course by applying the PrOACT model to a business decision as well as evaluate the interaction with stakeholders and the management of risk, and the role of change in decision making. Students should review all learning activities and assignments to ensure an understanding of key concepts.
Students will be provided with a business case study.
Required Elements to include in the Final Project:
You are to apply the PrOACT method to Joan's dilemma.
You should explain each step in the process and how you arrived at your conclusions.
Make sure to reference the reading material covered in the course.
You should include in your analysis the application of the five step process and a weighted and unweighted decision matrix.
Make sure your five steps include an in- depth discussion of all the elements. Be sure to include a risk analysis, psychological traps, shareholders, consequences, and change. I urge you to think outside the box with your alternatives.
Review the application of the PrOACT method in the beginning of chapter one. You want to make sure you are exploring all the alternatives.
Creativity is really a great tool in this exercise.
Required Formatting of Final Project:
• This report should be double spaced, in narrative format, 12-point font, and 7-8 pages in length excluding the title page and reference page;
• Title page with your name, the course name, the date, and instructor's name;
• Include a reference page;
• Use headings to separate the different sections;
• This paper is to be written in the third person. There should be no words in the paper such as "I. we, you or your;"
• You must Use APA formatting for in-text citations and reference page. You are expected to paraphrase and not use quotes. Deductions will be taken when quotes are used and found to be unnecessary;