Every layer of management in any business organization has significant contributions and develops the company to a prominent level. The role of the Board of Directors and the other management in the company has been focused on (Axelrod, 2005). This assignment deals with the case study of Modern Gears in which the Chief Executive Officer has been removed from the post due to certain obsolete and adamant practices in business. Various aspects of management and of business have been illustrated in the assignment through the conduction of study on Modern gears. There are illustrations of various suggestions regarding the ways to develop higher management in a global business company.
It is a true fact that incorporating effective practices of business and board development would assist every member of the board of Modern Gears in developing a sense of accountability, ownership, responsibility and commitment to the organizational goals. As a Chairman, James needs to be highly forward-thinking. However, from the case study, it has been observed that James has a broader and newer sense of vision as compared to that of Stefan who was the former Chief Executive Officer of Modern Gears. There has been a need for adopting organizational change within the business frameworks of the company as the functioning of the gearbox manufacturing company was significantly affected by the adamant and old business dealings of Stefan. After firing Stefan from the position of CEO and from the entire company, it is very much important for James to bring developments in the Board level of the management of Modern Gears (Appelbaum, Paese & Leader, 2002).
It could be observed that the board of the company was not operating at the optimal level due to the dominance of Stefan. However, James can enhance the structure for maximizing the contributions of each board member in the gearbox manufacturing company. It was observed that by possessing the position of CEO for the last 20 years, Stefan had outgrown and become so dominating by nature that his outspoken and blunt manner of talking proved as restrictions for employees, and members of high management level like Fiona and Derek. James has to begin the development in the Board with some prominent oversight which is a role that is one of the functions of the Boards (Frynas & Mellahi, 2015). He should make strategic efforts in engaging the directors on a deeper level regarding development in the talent, risk, digital, strategy, marketing and Information technology in regards to the manufacturing of gearbox. He also needs to consider the complex factors associated with the culture, composition and time spent by the board in the development of business at all degrees (Binder, 2016). As the Chairman, James needs to assist the board chairs along with the directors and executives in orienting towards the objective of global business expansion from the operation in the United Kingdom to Italy, India and the United States. James is required to focus on the four essentials for establishing a stronger and better Board of Directors. James needs to broaden the scope of the functionality and operation of business regarding Gear Box by making approaches and initiatives beyond the fiduciary for engaging more deeply regarding business strategies, technology and operations (Goetsch & Davis, 2014).
There have been many instances where the growth of Modern Gear Boxes has been stalled due to the business operations on the obsolete notions of Stefan in the advancing world. Even after there were large scale changes in the market of the United States, Stefan could not simply want to manufacture and promote the petrol head gearboxes (Kerzner, 2018). This provided constrained opportunities for business expansion to the company. Hence, James needs to remake the business strategy in accordance with the current scenario of business in the company. Secondly, he should make approaches to deepen the commitment of the entire workforce including the Board of Directors. As a chairman, he needs to make more investments in regards to energy into the strategic development of the company. He can devise a dynamic agenda for conducting business expansion on newer terms that would assist the company in paying back the loans taken from the banks (Lasserre, 2017).
James also needs to clarify the responsibilities to individuals Board of Directors by finding the right and appropriate mix of knowledge and experience by appointing an ambitious board. He also needs to provide clarifications regarding the assignment and role of tasks in accordance to the best skills of the directors. Till the engagement of Stefan as the Chief Executive Officer in Modern Gears, the employees in the senior management layer were not able to have clear distinctions regarding the business and their excited lot of abrupt initiatives regarding the approaches that were to be taken this was existing in the company as Stefan was headstrong with the obsolete and ineffective business approach and on the other hand, the entire human resource of Modern Gears were aware of which practices and approaches to be taken in order to have the business resonance of changing business environment (Munns et al., 2016). James can undertake three basic purposes of board development which include identification of the potential members of the board and orientation of the new members of the board. This would also include using approaches for the sustainability of the ongoing members of the board along with the preservation of these individuals.
As a chairman, he needs to bring alterations within the membership of the Board of Directors as there has been the removal of Stefan from the post of Chief Executive Officer. He needs to analyze the performance of various employees such as Fiona, working in the business organization in the higher management layers (Mangan, Lalwani & Lalwani, 2016). There might be many potential candidates for the Board who will assist in the business expansion of the company. James needs to appoint the new member in accordance with the guidelines of the Human Resource policies regarding board membership. The newly appointed members need to be provided with proper orientation regarding the higher management operations of the business which should be supervised by James (Manifesto, 2003).
This will assist the new board members to gain alignment with the objectives and aims of the management. James needs to motivate the newly appointed and existing board members to speak clearly in the board meetings without any inhibitions regarding their opinions, views and suggestions regarding business expansion. He should also make developments regarding establishing proper and effective understanding among all the members of the group and the governance role which would be included in the best practices of the board. This will help James as a Chairperson to strengthen the board of the company. There will be a structured orientation that would be featured by a presentation by the members of the board.
By incorporating the sustainability approach in the board of directors’ engagement, the interests, abilities and engagement of the board members would be enhancing the functionality of Modern Gears (Morschett, Schramm-Klein & Zentes, 2015). This approach will assist in developing ownership, accountability and leadership sense among the members of the boards. This will help in developing the working relationships among one another which was distorted in the presence of Stefan Being the Chairman, James also needs to inculcate amicable relationships on a one-on-one basis with every member of the board. Unlike Stefan, James needs to show respect and value to each individual of the board which will further assist him in gaining the status of a global organization. James needs to undertake the transformative systems and approach which has to be integrated with the early management thinking approach. He should also integrate new comprehensive of interactions on the basis of socio-technical aspects such as open systems to make the board of directors exposed to devise new strategies for reviving the business of Modern Gears. James has to take care of the fact that there have been various changes in the business approaches from the modern era to the postmodern. The business environment is currently filled with highly uncertain changes. Thus, he needs to integrate transforming beliefs which was not observed during the tenure of Stefan. The activities or business endeavours have to be redirected by James towards the strategies that are more suitable on the global scale (Martinelli, 2010).
He can incorporate the grounded theory in the approaches of business for the gearbox manufacturing company which will assist him in having an increasingly emergent approach to the collection of data. He also needs to take care of the fact that the language and the style of communication and delivering the business information to the board members and the senior management employees. In accordance with the culture of Plato’s Café which is very relevant in this case, the position of the senior management like Chairperson and CEO has to be very calm, engaged, conversational and reflective regarding the concerns of business which was not presented by Stefan. However, James has to give priorities to such aspects in order to make him highly successful as a global manager and Modern Gears as a global company.
Stefan Ellis Hao needs to initially realize that his approaches of conduction of business were no more suitable to the current and existing business environment. He needs to have a reflection of all the approaches and strategies that he undertook and evaluate them in accordance with the market scenario than from a perspective of a strategist. This will assist him to identify his professional mistakes and assist in devising ways for improvement and scope of opportunities sofa work at similar management levels in other business organizations.
He needs to have a proper comprehension of the fact that the advancement of business development from the operational to the strategic level is one of the most challenging and evolving aspects that he failed to understand during his tenure in Modern Gears. One of the key issues that Stefan possessed in his ways of conducting business in Modern Gears is the lack of insights into varying roles that he needed to assume after being at the senior-most strategic level. He also needs to critically reflect his traits as a leader which he projected during his tenure as Chief Executive Officer with the help of taxonomy (Miller & Bergman, 2008).
He needs to reflect and evaluate his effectiveness as a transition leader in order to assess his success as a chief executive officer. This will assist him in perapri8nghimslef as a better leader and contribute valuable inputs to the business framework of the new company regarding their deployment and development. He also needs to focus on the critical assessment of exhibiting strategic leadership in the senior roles of management. Though he already knows that strategic leaders like him did not have to be typically engaged in all roles of business, he needs to reflect on the ways in which his actions and professional thoughtful nature would have assisted him in understanding and creating deeper bonds with the other coworkers, colleagues and subordinates.
He needs to reflect upon his ideas of achieving certain goals and the extent to which his idea resonates with the existing business environment at the international level. He needs to redirect his commitment and passion towards collaborative goals which will assist the business organizations in achieving success in business expansion. Stefan needs to adapt the nature and characteristics of a global thinker which will assist him in integrating all the key information from varying sources for developing a diverse and well-informed perspective. This will be highly useful in the optimization of the organizational performance of the company he will work in the future (Mangan, Lalwani & Lalwani, 2016). He also needs to adapt the nature and attitude of change driver which will help him in creating a business environment that embraces changes within the business frameworks in accordance with the changing business environment, demands and requirements of the clients and customers.
This report assisted in gaining in-depth insights into the required changes that should be incorporated within the frameworks of business management in any business environment. This paper has also assisted in understanding fundamental aspects regarding management of the human resource at higher levels of management structure. This assignment assisted in developing compression about attitudes and skills that are required for leading a company in the global business environment.
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