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While there will be high costs associated with past actions, the company is going to have less influence over these costs than it can have with respect to its present and future actions. In other words, the biggest negative variable comes from the damage that will be done by this going public. Sears needs to contain that damage. They need to break the story to the media, and they need to appear to be cooperating fully with the authorities. They need to recommit themselves publicly to the best interest of their customers especially. The company needs to appear to be proactive in dealing with this issue, in order to minimize the negative elements of the publicity. The CEO must take a public leadership role so that it is understood how serious they are taking the issue.
The third element of the solution is that Sears needs to devise a legal strategy. While it does want to cooperate with the authorities on this matter, Sears is also going to need to work hard to minimize its damages. Once it has gathered its facts, Sears needs to work with the authorities to strike some sort of plea. The most important aspect of this will be to limit the ability of private individuals to file suit against the company, either individually or as part of a class action suit. The damages...
Certainly some people will need to be removed, as the company's practices were known to be illegal. But beyond this, the company needs to reconstruct its communications pathways, alter the corporate culture with respect to ethics and accountability, and focus on ensuring that the underlying issues that contributing to the growth and festering of this problem are dealt with.
Comments/Thoughts
Sears is facing a difficult challenge, and it needs at this point to be in survival mode, taking the best interests of the shareholders into account. The company needs to be honest about its mistakes, and confront those errors head on. At the same time, Sears management needs to protect the company as much as possible from damage, because that damage could all but bankrupt the firm. This requires that the company learn everything it can about the issue, take a leadership role in dealing with the issue, and devise a comprehensive set of both short- and long-term solutions.
Microsoft, unlike Apple, is not secretive. Microsoft usually offers previews of their products several months before its official release (Lloyd, 2011). They do this as it is its corporate culture. This enables customers to evaluate the product before deciding to buy. On the other hand, the company is able to get feedback regarding to the product from the customers (Lloyd, 2011). This helps the company to improve on the product
CORPORATE CULTURE SURVIVAL GUIDE (CHAPTER 1 & CHAPTER 2) The work of Edward H. Schein (1999) entitled "Corporate Culture Survival Guide" begins by examining the question of why it is important to understand culture. It is important according to Schein (1999) to understand that the organization exists "within broader cultural units that matter in today's global world because mergers, acquisitions, joint ventures and special projects are often multicultural entitles who must
Mercedes-Benz determined that an annual increase in the score of a corporation of a single statistical point on the customer satisfaction barometer five years consecutively corresponded to more than an 11% increase in profitability (Ross, 2002). Mercedes-Benz also determined that generating positive attitudes among its employees was essential to achieving high employee retention rates and to maintaining a positive work environment (Russell-Walling, 2005). The company determined that this is particularly
Corporate Culture can be effectively defined as the basic behaviors and the attitudes and all the related approaches that individuals within an organization use when they interact with one another for any reason at all. It also refers to formal and written policy within the company that is concerned with things like the dress code of the employees, the employee relationship with each other within the organization, and also the
Without middle-class and upper-middle-class people out there to buy Harleys, there will not be any market for them, since the younger generation cannot afford them. Conclusion As can be seen from the SWOT analysis and other information regarding this company, it is struggling somewhat, but yet it is still very strong overall. Internal and external threats and opportunities seem to be about the same for Harley Davidson, and the internal threat
The stock's growth is likely to level off and stagnate, remaining at or near its year-to-date average of $33, with industry developments and responses from chief rivals like Delta and Southwest causing a readjustment which removes any post-merger gains. The fact remains that operating a national airline carrier is a game defined by the slimmest of margins, and any unforeseen circumstances involving the cost of fuel, national security or