The Wallace Group Strategic Management - Essay Example

According to Wheelen & Hunger, “organizational learning is a critical component of competitiveness in a dynamic environment” (2006, p. 9). The Wallace Group lacks a vibrant human resource management apparatus that can articulate the changes necessitated to accommodate the growth needs and prospects, efficiently.

In order to exploit the opportunities offered by the existing scenario in the best possible manner and to manage the challenges proficiently, there are a number of recommendations. First of all the Wallace Group is required to re-orientate its approach to handle the growing needs of the organization. This re-orientation will involve a major adjustment in the personal management style of Mr Wallace, his priorities, vision, and future objectives for the growth of the company. Mr Wallace will need to make changes in the organizational structure of the Group to create a conducive environment for a motivated and diversified workforce.

To cater for the rapid decision-making requirements, middle managers of the company are necessitated to be empowered. Mr Wallace is hence required to delegate more of his authority. The major organizational changes would involve the formulation of a corporate governance policy that will include a board of directors. The board will be responsible for devising strategies, direction, vision, hiring/firing top management, monitor and supervising top management, overseeing the use of resources, and caring for shareholders’ interests (Wheelen & Hunger, 2006, pp. 36-37). Another important recommendation is to open a reliable and smooth channel of communication.

This will ensure feedback of employees and customers reaching the top management without any hitches. In educating the managers to manage an organization as it evolves over time from an entrepreneurial structure to a more sophisticated and complex organizational structure, the most important factor is to acquire their willingness. Nobody wants to let go of his authority. With the organizational transformations, the managers need to be incited to accept change as a sign of progression and delegate their authority with conviction in the process.

Apart from formal training sessions, on-the-job developmental strategies will have to be evolved to educate managers in handling the complex structures with the utmost efficiency. Simultaneously, other organizational strategies like outsourcing which are turning out to be the workable solution for handling complexities need to be overviewed (Maurer & Associates, 2002, p. 2). To cope with the recent developments in the field of organizational structures and technology, the managers are required to be aligned to make the best utilization of telecommuting and outsourcing (Ormsby, 2006). Last but not the least, we must remember that motivation and dedication is the hallmark of any training and education program. The managers have to be motivated in true spirits to manage an organization undergoing such a tremendous and sophisticated transformation in its organizational structure.