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Magnolia Therapeutic Solutions - Case Study Example

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Magnolia Therapeutic Solutions Case Abstract The case of Magnolia Therapeutic Solutions includes the issue about the importance of a certain decision to be taken, especially for an organization’s future advantage. It also includes significant things that a manager should do in order to prevent future problems…
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Download file to see previous pages Question 1 How could your decision be compared to the board’s decision? Why did you make this decision? What effect did organizational infrastructure and culture have on your decision? Definitely, I would not approve the budget. In the first place, I would find considerable support of my decision prior to my approval of it. There must be reliable references or supporting evidences needed in the first place in order to justify my decision. A budget needs to have substantial references or supporting facts in order not to have a shortfall or over calculation in the future. Thus, it should guide and even predict future actions or moves (Hutton & Phillips, 2009). In the case of Mary Stewart’s decision, she failed to consider the point that her assumption would be subjected to environmental factors. Being confident that the government would renew its grant given to Magnolia in 2001, Mary assumed that the budget in 2002 would be substantially higher as compared to that of the previous year. Furthermore, she also failed to consider the ailing economy and so was able to address the steeper demands with regard to the development department. This would incur additional cost which eventually led to having one third of her staff laid off; it had negative impact on the remaining staff and organization that could cause stagnation of the organization in years to come. With the kind of decision that I have taken, I could have probably saved one third of my staff. The point is I would not have focused on giving substantial budget for the development department. This has to be considered in the first place because overspending would not be the right approach, especially in a poor economic condition. My decision would remarkably maintain the potential teamwork at Magnolia because everyone would be encouraged to potentially use and maximize only what was available. Question 2 What do you think were the main causes behind the problems that Magnolia ultimately suffered? What would you have done differently to avoid those problems? In the first place, considering that Magnolia was not a profit organization, there was a clear evidence of poor financial management within the organization. This becomes clear when one looks at the way the budget was emancipated in 2002. Lack of financial knowledge was one of the main reasons. This eventually led to poor organizational structure, which also resulted in lacking the ability to handle financial resources in the best way possible. Furthermore, Mary was made assumptions without any reliable basis. In other words, Mary herself lacked managerial skills in handling the organization, particularly within the context of planning strategy. As reflected on how the planned budget in 2002 turned out, Mary simply was missing the point on how to efficiently handle the financial resources. If I were Mary, I should have hired a financial consultant who could give me professional advice on what to include in my budget plan for 2002. Furthermore, knowing this would help me to come up with good plans in the future. The point in here is that Mary’s organization was still moving forward closer to financial stability. In other words, this has to remain her critical area of consideration prior to displaying any ambitions as to other future plans. As for me, since the organization was already doing great in its service and became popular in its field, financial ...Download file to see next pagesRead More
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