Strategic Management and Business Policy(tenth edition) by Thomas L Essay

strategical Management and Business Policy(tenth edition) by Thomas L. Wheelen and J. David Hunger (senior in college) MGT485 - Essay ExampleThe Wallace Group is innocent(p) of the vision for the future and is proving not to be a learning organization. According to Wheelen & Hunger, organisational learning is a critical component of competitiveness in a dynamic environment (2006, p. 9). The Wallace Group lacks a spirited human resource pluckment 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 evolution needs of the organization. This re-orientation will involve a major adjustment in the personal management genius of Mr. Wallace, his priorities, visio n, and future objectives for growth of the company. Mr. Wallace will need to make changes in the organizational structure of the Group to wee-wee a conducive environment for a motivated and diversified workforce. To cater for the rapid decision qualification 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 formulation of a corporate governance policy that will include a poster of directors. The board will be responsible for devising strategies, direction, vision, hire/fire top management, monitor and bring off top management, oversee the use of resources, and care for shareholders interests (Wheelen & Hunger, 2006, pp. 36-37). Another important recommendation is to open a tried and smooth channel of communication. This will ensure feedback of employees and customers reaching the top management without much hitches.In educating the manager s to manage an organization as it evolves over time from an entrepreneurial