Smith Financial Corporation – Case Study Example
The paper "Smith Financial Corporation" is an outstanding example of a management case study. The corporate culture inside Smith Financial Corporation is not very flexible as illustrated in the case. The main problem inside the organization is that the employees and the existing managers are not ready to accept any change in their work. The main mistake that was made by the management was that the existing managers were not able to explain the corporate culture of Smith Financial Corporation to the new manager who came with the hope of bringing changes in the organization.
Recommendations for Improvement
The person who is the head of the department should have complete authority and decision making powers within the department. The employees should be consulted at every meeting being held for the change. The change should not be imposed in the department instead the employees should be consulted at first and then the process of change should take place. For the corporation like this, there should be Fragmented Corporate culture. In Fragmented Culture, the head has all the powers to implement all the changes he wants in his department. Different managers of the two departments had different views on the change to be brought about in the organization. Information sharing between the managers was not fair in the organization. A better information sharing mode between managers is needed in the organization so that the decision that the company takes is better and more effective. The relationships among the peers in Smith’s were not very good and everyone had their own opinion about every decision. Teamwork will enhance the relationships of the co-workers in the organization.
Implementation Plan- Miller should schedule meetings with the co-managers and his senior manager every month in order to update them on the current issues and challenges.- Informal meetings at coffee shops, lunch or dinner would help the coworkers be more cooperative with each other. This would also help the managers to develop an understanding of each other and get tied in informal relationships.
- Each action that is taken for department improvement should not be implemented with a blink of an eye. The stakeholders should be informed about the anticipated changes in the department.
- Knowledge Management system and Decision Support Systems should be implemented for the managers of Miller’s level and above so that they can make more sensible decisions.
- Subordinates should be involved in each step that the organization takes in the working environment. Advice from subordinates can help Miller to make better decisions at work.- Milestones should be set by Miller at the start of each project and after the implementation, it should be checked how many milestones were achieved.