Forecasting Techniques for Haldane Company - Essay Example

 In a similar way, these new branches may be the stepping stones to the company achieving a much more superior level in its sector. Hence, the Wegman strategy is advisable as it gives the firm enough time to address the success of the new company and if necessary implement the appropriate strategy to enable the new store to adjust to the market (Banai, 886-900).One of the most important aspects of any company is the human resource. The importance of human resource is not limited to the intellectual capability of the staff members, but also includes their familiarity with the policies of the firm (Ammann, n.p). Companies frequently spend a significant amount of their budget in order to train staff members and ensure their competency.

It is worth noting that the strategy by the Wegman family to delegate the responsibility of the new firms to its brightest employees has both positive and negative attributes. The positive attribute includes the fact that the employees have superior intellectual capabilities and are already aware of the direction in which the company is heading. These individuals are also familiar with the internal policies of the company that creates its culture and brand image. Hence, the rate of progress of the new stores is likely to be faster and in coherence with the parent company.

However, there are negative attributes such as stagnation and lack of diversity. The business world is constantly evolving, and at times it is necessary to adjust and evolve to the needs of the market (Beach, n.p). At times this can only be done by alteration of the company’s management techniques and policies. However, the new management in the approach taken by the Wegman family is already fixed to the old policies. Hence, it is necessary for the company to also hire some new staff members to work with the old ones and ensure there is room variation.

Furthermore, this will allow the new stores to implement new strategies that attract a different customer group in the market.