Saturday, November 9, 2019
Lakeland Wonders Case Study Essay
1. How will the new CEOÃ¢â¬â¢s vision transform the Lakeland Wonders organisation? Ã¢â¬ ¢ Change of brand image- no longer Ã¢â¬ËHandcrafted with pride in the USAÃ¢â¬â¢. Ã¢â¬ ¢ Change of organisational culture with the proposed expansion. Ã¢â¬ ¢ Create new revenue streams with expansion into new markets. Ã¢â¬ ¢ Departure from the traditional style of the company. 2. What are the main concerns of the stakeholders who do not agree with her vision? Ã¢â¬ ¢ Loss of Lakeland Wonders image and Ã¢â¬Ë94 year traditionÃ¢â¬â¢. Ã¢â¬ ¢ Expanding too quickly could damage the company, concern over speed of change. Ã¢â¬ ¢ Potential logistics issues with outsourcing. Ã¢â¬ ¢ Concern over quality control and possible damage to brand image. Ã¢â¬ ¢ Local, long term partners would be lost. Ã¢â¬ ¢ New CEOÃ¢â¬â¢s lack of clear brand strategy for proposed new products. Ã¢â¬ ¢ Union issues- threatened by outsourcing, not consulted earlier on, etc. Ã¢â¬ ¢ New CEOÃ¢â¬â¢s plan to bring in new people (Cecil, Pat) will make long term employees feel threatened and insecure. 3. Does your group think the proposed strategy is a good strategic move for Lakeland Wonders? If yes, why? If not, why not? We think that the proposed strategy is a good move for the following reasons: Ã¢â¬ ¢ Increased growth potential, increased profits- enabling the company to grow in line with targets set by board. Ã¢â¬ ¢ Expansion into growing market-mid non-electric market only segment predicted for double digit growth. Ã¢â¬ ¢ Ensures the company remains competitive over the long term. Ã¢â¬ ¢ Cost effective.Ã Ã¢â¬ ¢ New staff, new ideas and fresh growth- overall improvement for the company. However there are also some negatives: Ã¢â¬ ¢ The overall planning is needs to be effective and complete otherwise it could be damaging to the company. Ã¢â¬ ¢ CEOÃ¢â¬â¢s push to force through the changes is causing divisions within the company. Ã¢â¬ ¢ Potential loss of the core quality of the company (traditional, made in USA, etc.) Ã¢â¬ ¢ Risk alienating current customers.