Examining a Business Failure

Examining a Business Failure Introduction It is the wish of all business organizations, both big and small, to succeed in whatever activities they undertake. Traditionally, all for-profit organizations endeavors to realize improved financial performance, maintain solvency, consistently retain, and increase their capital and client bases.Advertising We will write a custom essay sample on Examining a Business Failure specifically for you for only $16.05 $11/page Learn More However, various factors, either internal or external, can cause business failure in a given segment of an organization or even the entire organization. This research paper explores a business failure that occurred at Chrysler Group LLC in 2009. The paper aims to describe how organizational-behavior theories could have predicted or explained the company failure. It also compares and contrasts how leadership, management, and organizational structures contributed to the failure. Organizational-behavior theories that can p redict or explain a company’s failure Chrysler Group LLC is an American multi-national automobile maker with its headquarters in the Detroit, suburb of Auburn Hills, in Michigan. It was positioned as Chrysler Corporation in 1925 under the leadership of its founder Walter Chrysler. In 2009, Chrysler LLC slipped into bankruptcy and on April 30, 2009, filed for chapter 11-bankruptcy protection from which it emerged on 30 June 2009 after collaborating with the Italian automaker, Fiat (Isidore, 2009). Typically, a well-established business organization like Chrysler Group LLC is run by a management team consisting of senior officials like CEOs and senior financial managers, board of directors, and internal and external auditors. All of these players actively take part in the decision making processes of an organization regarding all of its aspects including human resources management, production, marketing, financial management, and corporate social responsibility (CSR) among othe rs.Advertising Looking for essay on business economics? Let's see if we can help you! Get your first paper with 15% OFF Learn More Even though, there is a tendency to hinge a company’s future success on the shoulders of the CEO, each of the above-mentioned key players is supposed to play his or her part in order to safeguard the future success of the organization. Concisely, a company’s success or failure can be determined by the role played by its key decision makers during a definite period. Former Chrysler Group LLC board of directors failed to play their role effectively or professionally. They over relied on the leadership of CEOs as the principal key to the company’s future success especially during the early years of the 21st century. Even though, the CEOs of an organization play a critical role in guiding an organization along the path of success, they cannot run an organization singlehandedly. The necessary input of all relevant senior stakeholders is a requisite for success of an organization. Chrysler’s board of directors was wiling to approve exorbitant salaries and bonuses for its CEOs at the expense of the corporation’s ability to pay its debts. Moreover, the board of directors did not consider the company’s ability to continue remunerating its other workers and remitting their employment benefits. The result of this trend was an abnormal accumulation of debts, which nearly pushed the 85-years old automaker out of the market. Fortunately, the company was saved from an inevitable liquidation by Obama’s administration bail out and a successful merger agreement with Fiat. Financial managers viz. internal and external auditors, bear the greatest blame for the failure of the Chrysler Group LLC because they aught to have raised a red flag for other stakeholders following the evident accumulation of debts. In any case, the inability of this category of officials to provide relevan t financial information to the board of directors and the CEOs should have pointed to a possible company failure in the future. Apart from providing key decision makers with reliable financial information on which they can base their strategies, financial officers of an organization should offer reliable insights on how a company should perform in coming days, in relation to possible business and market conditions.Advertising We will write a custom essay sample on Examining a Business Failure specifically for you for only $16.05 $11/page Learn More In short, financial performance of an organization should remain closely monitored under the guidance of the relevant stakeholders including senior financial managers, internal, and external auditors because it is one of the key indicators or pointers to the fate of an organization’s future success. The CEOs and former board of directors of the Chrysler Group LLC probably ignored this fact and hence, the e ventual failure of the company was inevitable given the unfavorable economic conditions of the year 2009. Leadership, Management, and Organizational contribution to the failure Proper and professional management of an organization’s resources, both human and non-human, is central to its success. Leadership, management, and organizational structures provide the needed framework within which control of organizational resources takes place, as well as the running of the day-to-day activities of an organization. These important features of an organization can therefore, contribute to the failure of a company. Chrysler Group LLC leadership, which was expected to emanate from its CEOs and board of directors, similarly failed to find out the cause of the consistent accumulation of debts. They also equally failed to guide the company on how to reverse the trend in order to sustain its solvency. In contrast, one leadership segment, that is, the board of directors, contributed to the f ailure of the company because of its hands-off attitude that left the company’s future success at the mercy of the CEOs who were also unable to avert the eventual failure that befell the company. Both the leadership and management were unable, and/or unwilling, to read possible pointers to possible failure due to the unpleasant debt accumulation that proceeded its eventual slippery into a detrimental bankruptcy. Chrysler LLC’s organizational structures contributed to the failure by failing to unite the CEOs and board of directors into a constant platform, which could foster teamwork needed in the making and approval of all sensitive decisions that guide a company to its future success.Advertising Looking for essay on business economics? Let's see if we can help you! Get your first paper with 15% OFF Learn More Therefore, the lack of teamwork orientation between the CEOs and the board of directors prevented them from seeing the looming failure from a similar perspective. This, in turn, meant that they did not have an opportunity to put in place the necessary measures at the right time in order to prevent the failure that befell their company. Conclusion All for-profit organizations aim to realize improved financial performance and retain their ability to pay their debts and employees in order to survive in the increasingly dynamic markets. However, that is only possible through able and competent guidance of its leadership and management. The leadership and management of an organization should be able to establish organizational cultures that nurture behaviors, which are congruent to its desire to succeed such as teamwork and professionalism or risk failing to achieve its set goals. Chrysler LLC’s poor leadership, management, and ineffective organizational structures, was its undoin g that culminated into an unfavorable bankruptcy that nearly drove the 85-years old automaker out of markets; but thanks to the federal government bailout, the company remained in the market. Its leadership and overall management failed to read signs of a possible failure; the company‘s financial performance deteriorated as indicated by its adverse preceding debts accumulation but the management was too busy or ignorant to realize it. Reference Isidore, C. (2009). Chrysler files for bankruptcy. CNN Money. Retrieved from https://money.cnn.com/2009/04/30/news/companies/chrysler_bankruptcy/

Top 5 Lucrative Tech Careers You Should Consider

Top 5 Lucrative Tech Careers You Should Consider don’t let the prospect of tedious, isolated computer work dissuade you from exploring careers in it- there are more engaging and compelling options to consider! take a look at this list from aftercollege’s joy miller.   big data scientistas the name implies, this is the big-picture approach to data analysis- you’d be responsible for developing programs and systems to house and investigate data. your ingenuity and creativity will help you identify trends and insightful conclusions, solve problems, and propose areas for growth or company innovation.these positions can pay as much as $188,000 annually, so it’s worth the time and labor-intensive demands of the gig.  computer forensic investigatormake the most of your interest in law enforcement and pursue a bachelor’s degree in computer forensics, information security, or cyber security- you can even get a certification from a computer examiner board. with it, you can help law enforcement and invest igative agencies solve crimes and testify at trial. average salaries can run to $91k.  geospatial analysteven bigger than big data is an analyst that works with global geography and modern technology. where are people living and working and moving, what models can help us predict or analyze their behavior, and what technological resources can help accommodate and address their needs?certifications in geospatial intelligence analytics, cartography, or related fields can help you earn as much as $74k.  software engineerif your degree is in software engineering, computer science, or a related field, chances are you already know about the countless opportunities available to people who can design games, create apps, and write code. whether you find an in-office gig or stay flexible as a freelancing contractor, you could potentially stand to earn as much as $93k.  it consultantthe classic it gig involves finding a company where you’d like to work- based on their products, th eir mission statement, or even just the team you’d get to work with, from a start-up to a massive corporation- and getting your foot in the door. whether you take the late shift or the daily grind, you may earn as much as $94k.

Without Strategies It Is Not Possible to Provide Direction for the Research Paper

Without Strategies It Is Not Possible to Provide Direction for the Construction Companies - Research Paper Example Corporate strategies have been divided into Five Ps by Mintzberg and they are Plan, Ploy, Position, Pattern and Perspective. While each is a separate type of strategy with its attendant qualifications, yet they are usually present in all strategies to some degree. The real difference lies in the fact that one of them will be dominant and others will play a supportive role. (Mintzberg). Markets are heterogeneous and companies, irrespective of size and area of operation, need to remain competitive in order to survive and make profits for their owners. Companies need strategies following which competitive advantage can be gained. Environments have a great impact on companies. The strategy is the reaction or response to these external and internal situations. Ansoff et al (1976) state that, amongst other things, responsiveness to the problems is what strategy is all about. The aggressive response to competition, the sublime response to the customers, the firm but fair response to the managers and workers are but a few ingredients of strategy. Minzberg et al (1998) offer another concept of strategy which is that it acts as a mediation force between the organization and the environment. The strategy is the internal and inherent capacity of the organization to meet and face challenges posed by the environment. There are different responses that formulate strategies and they can be divided into three different prescriptive or narrowed down schools of thought. They are the Design, the Planning and the Positioning schools of thought.

A true story of courage Essay Example | Topics and Well Written Essays - 1000 words

A true story of courage - Essay Example He recommended his wife to undergo a complete medical checkup, to learn the root-cause of all that was happening to his wife. Just a few weeks before her health would start to deteriorate, she discovered that she was pregnant, and was soon going to become a mother. She narrated the good news to her husband. It was the happiest day in the couple’s married life. It felt like the start of a new and beautiful journey. But they were unaware that this good news was soon going to be followed by some very dreadful news that would have an everlasting effect on their lives. Upon her husband’s suggestion, she agreed to undergo the medical checkup. Her blood and urine samples were taken, and the lab reports would take two weeks to get finalized. In the following text, the husband himself narrates his story from the day of lab-report-results on: It was Tuesday. Two weeks had passed after my wife’s medical checkup. The reports were due to be received. I offered her my company to fetch the reports. But she chose to get them herself on her way back from the office. She said, â€Å"I’d prefer to be alone.† She probably said so because she was very tense. She told me to stay at home and pray for her, and so I did. It was afternoon. I had turned the lights off. The darkness felt comforting. I was sitting on the sofa in the lounge with a cup of coffee in my hand. I was too tense to enjoy the coffee. One sip of it tasted bitter, and the other sweet. It felt like punishment. The tension was mounting. It was about time for her to get back. She would be there any moment. I was anxiously waiting for her. Every passing moment felt as long as a year. Waiting had never been my job. I was not used to it. I always tried my best to get things done without waiting for them, but unfortunately that was not the case this tim e. I was too worried, yet optimistic about the results. I hoped

Life of John Dalton :: essays research papers

John Dalton John Dalton, born 6th September 1766, is known for developing the theory of the elements and compounds atomic mass and weights and his research in colour blindness. He was born in Eaglesfield, Cumberland (now know as Cumbria). In school he was so successful that at the age of 12 he became a Teacher. In 1785 he became one of the principles and in 1787 he made a journal that was later made into a book, describing his thoughts on mixtures of gases and how each gas acted independently and the mixtures pressure (which is the same as the gases volume if it had one). Therefore the law of partial pressures was made. It is said that in 1790, Dalton?s aims were to pick up in law or medicine, but he got no encouragement from his family. In 1793 he moved to Manchester where he was appointed Professor of Mathematics and Natural Philosophy at a Dissenting New College. He stayed there until 1799 when he made his own academy. In 1794 he was elected a member of the Manchester Literary and Philosophical Society. There he read his papers and identified the phenomenon of colour blindness, which he and his brother shared. When showed a colour spectrum besides blue and purple Dalton was only able to recognise one other colour, yellow. Or as he says ?that part of the image which others call red appears to me little more than a shade or deflect of light. After that the orange, yellow and green seem one colour which descends pretty uniformly from an intense to a rare yellow, making what I should call different shades of yellow? In 1801 he argued that the atmosphere was filled with mechanical gases and that the chemical reactions between the nitrogen and oxygen played no part in the atmosphere?s construction. To prove this he conducted a lot of experiments on the solubility of gases in water. This showed that dissolved gases were mechanically mixed with the water and weren?t mixed naturally. But in 1803 it was found that this depended on the weight of the individual particles of the gas or atoms. By assuming the particles were the same size Dalton was able to develop the idea of atomic weights. In 1803 this theory was finalised and stated that (1) all matter is made up of the smallest possible particles termed atoms, (2) atoms of a given element have unique characteristics and weight, and (3) three types of atoms exist: simple (elements), compound (simple molecules), and complex (complex molecules).

Manging Time as an Adult Learner Essay

Being able to manage time as an adult is sometimes very difficult. Learning how to defeat this speed bump is truly easier than it looks. There are many types of learning, each with their own advantages and disadvantages. The following essay will show you the simple ways of making learning easier and more fun for adult students. Motivation is generally defined as the force that compels us to action (Scuderi, Royale 2012). Finding the motivation to learn is hard for several students. There are several ways to get motivated to learn. The first step for a student is to master their motivation. To accomplish this you create a vision of who you want to be, and then live into that picture as if it were already true (Chandler, Steve 2001). The problem with self motivation is that it is directly affected by age, marital status, and many other factors. For example, a single adult could have trouble focusing on work due to thoughts of weekend activities; where as a married adult may be focused on family time. Motivation is very important in everyday life. There are 6 different types of motivation that can be used by adult students. The first type incentive is when a person is expecting to gain some type of reward in exchange for their accomplished goals (Scuderi et al. , 2012). The second type is fear and is often used when the incentive fails to work (Scuderi et al. , 2012). The third, achievement, goes along with human nature, because people are driven to achieve goals and be the best at what they do (Scuderi et al. , 2012). Growth is the fourth type and is defined by the need to improve and expand knowledge (Scuderi et al. , 2012). The fifth type of motivation is power. According to Scuderi (2012); â€Å"the motivation of power can either take the form of a desire for autonomy or other desire to control others around us† (para. 7). The sixth type of motivation is social. This type is used by persons desire to be accepted by a specific peer group or to relate to people in their sphere of influence (Scuderi et al. , 2012). Knowing the types of motivation is important to learning, however, now it is up to the individual person to choose what type works for them. To find out what type to use is based on the social status of the person. For example, a single adult would use a different type of motivation than a married adult. Age and life experience would also be a part of the way an adult learner motivates themselves. No one can tell an adult how to motivate themselves, that is something they have to figure out themselves. The next step in preparing for college as an adult is figuring out what style of learning to use. According to Blackett & Weiss (2011); â€Å"A learning style can be defined as how you take in information, process it, and learn it† (ch. 3). The next thing to do is identify the different types of learning. The first and most common learning style is visual. Around 40% of all learners are visual learners (Blackett, K. & Weiss, P. 2011). If a student is a visual learner, they are likely to watch videos, look at pictures or graphs, even watch the body language of the instructor (Blackett & Weiss et al. , 2011). The next type of learning is the auditory learner, this covers about 30% of all learners (Blackett & Weiss et al. , 2011). These students learn best by listening to lectures or verbal directions as well (Blackett & Weiss et al. , 2011). A helpful tip for students that learn by listening is to bring an audio recorder to class. The last type of learning is the kinetic/tactile and covers around 15% of all learners (Blackett & Weiss et al. , 2011). These types of students learn best by hands-on work or physical activity (Blackett & Weiss et al. , 2011). A few ways to prepare for class with this type of learning is to; do your assignment more than once or work on one subject at a time (Blackett & Weiss et al. , 2011). Since the types of learning have been discovered, there has to be a way to ind which one works best for the individual student. Do not worry; there is a way to find out by taking a simple test. Upon completion of the test, the student should know what kind of learning style fits them best (Blackett & Weiss et al. , 2011). It is possible to have more than one learning style too. No matter what style of learning students use; these styles can change based on your personality and environment. If a student stil l has trouble learning then the student should turn to a tutor (Blackett & Weiss et al. , 2011). Now that we have learned the different types of motivation and learning, it is time to learn some tips to help as an adult learner. As Xponents. com (2012) explained Adult learners are different from their younger counterparts. They prefer to be self directed, they have accumulated a broader spectrum of life and work experience, they are goal and relevancy oriented, and they have a greater sense of immediacy than the typical high school graduate. (para. 2) One of the tips that can help adult learners is to develop time management. Making personal time to study is very important (xponents. om, 2012). A student should always treat their study time like it is class time (xponents. com, 2012). In modern times, if a person is considered a â€Å"multitasker†; more than likely that individual is looked up to. However, multitasking as an adult student can miss important information or even getting things mixed up (xponents. com, 2012). The next tip that can help you is to teach what y ou have learned to another person. It is helpful because it translates information into the persons own words and gauges others interpretation of what you have presented (xponents. com, 2012). Lastly, always look to keep learning and trying new things. A person’s brain is like a muscle, if it is not worked out enough then it can become weak (xponents. com, 2012). Students should always look to better themselves. The last bit of advice this paper will give the adult student is how to take college as a military service member. The kind of life style soldier students live can make it hard to be successful. While in the military, a student can pursue a degree or professional certification while at home, at sea, or even from a remote duty station (Military Advantage, Inc. 1999). Most of the time that soldiers are taking college courses, it will be online learning. Here are some tips to set a soldier up for success. The courses can be given by internet, video, audio, or print. So they need to make sure to test the components needed before the class starts (Military Advantage, Inc. 1999). Preparing for the class can be difficult. Single or married a soldier should talk to their roommate about certain quite times in order to complete the assigned work (Military Advantage, Inc. 1999). When the soldier is in a virtual classroom, they should still act like it is a real class room (Military Advantage, Inc. 999). The last thing is to be sure to get the course materials in advance (Military Advantage, Inc. 1999). Time management is a must for a soldier student. Married or single, the soldier needs to set up a regular study schedule that includes breaks (Military Advantage, Inc. 1999). Just because the soldier is taking online classes does not mean they cannot get tutoring, so do not try to learn everything alone (Military Advantage, Inc. 1999). If the student happens to be married then make plans with the spouse to take over some the chores around the house (Military Advantage, Inc. 999). Set aside some time on the weekend to spend with the kids or spouse, and plan ahead so there is no last minute cramming (Military Advantage, Inc. 1999). The following paper was written to inform adult students on how easy it can be to go to school for the first time, or even go back and finish. The person reading this should only take the information as a guideline and remember there is nothing wrong with asking other students or teachers for help. School can be fun if the person takes full advantage of the many ways to learn.

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