Working Project Title
Project Proposal: CARVE Electronics Dilemma
Project Description
This project aims at exploring the case of CARVE Electronics Co., Ltd that is a Chinese company specializing in the field of the energy industry, namely, electric wires and cables. The project will focus on dilemma identification, situation analysis, and suggestion of possible solutions and recommendations to address the existing challenges.
Project Context
CARVE Electronics operates on the highly competitive Chinese market as well as in the context of the international market, while its profits are steadily reducing. The company was founded in 2009 as Zhoukou City Electronic Technology and then renamed in 2016. It has one subsidiary and considerable registered capital. Various certifications and quality standards such as ISO9001 or OHSAS18001 were acquired in the course of its history. The provision of high-quality products and services is considered to be the key objective of CARVE Electronics. Since the company works on the national market, it is necessary to stress that this market uses such local features as the indirect style of business communication. This style assumes the use of the evasive answers and the absence of negative ones. Besides, the recent expansion of CARVE Electronics to the global market made it more attentive to global trends.
According to the recent analysis made by one of the senior managers, the company lacks innovativeness. Taking into account rapidly developing technology, it is necessary to follow new rules. In this connection, CARVE Electronics has no specific competitive advantage, focusing on new energy development. Hill and Jones (2012) argue that “it is important to note that in addition to its strategies, a company’s performance is also determined by the characteristics of the industry in which the company competes” (p. 4). The current trend employed by energy companies refers to vehicle charging stations and charging poles that become quite demanded by the customers. In this connection, CARVE Electronics preserves its adherence to the outdated set of products and services as well as management strategies.
The situation is complicated by the fact that the company’s CEO reports inefficient management. It is necessary to point out that the company hired a new CEO who works for it for only half a year and is not fully aware of the state of affairs. His previous experience involves innovative technologies and market strategy in the framework of transformational leadership. According to his point of view, constant yet adequate change is the key to success. Also, suffering from a lack of experience, the company’s managers cannot come up with concise and relevant decisions. This leads to failure in different sectors of CARVE Electronics.
Some employees are disoriented and confused by the current requirements. This also causes frustration and disintegration of the work processes.
At the same time, there is a shortage of talents on several levels of the workplace. There is a need for creative and innovative employees who will be able to create groundbreaking ideas and ways to integrate them into the company’s work. It should be stressed that such sectors as HR, IT, sales, and so on require immediate transformation and upgrade. Bolman and Deal (2008) state that “investing in people on the premise that a highly motivated and skilled workforce is a powerful competitive advantage” (p. 138). By improving talent development, CARVE Electronics can promote both the employees’ satisfaction and the overall enhancement of the company’s performance.
Breakthrough Goal
These problems not only decrease profits but also threaten the overall work of the company. It becomes evident that the company needs to develop a range of appropriate strategies to improve the current situation. CARVE Electronics has great potential to revitalize and gain a bigger market share. Therefore, the paramount objective of this project is to develop some techniques and strategies, considering the current internal and external contexts of the company. In particular, the three challenges that were mentioned above are to be analyzed and evaluated in detail. The subsequent interpretation is expected to reveal possible ways to make the company more effective. Among other goals, there is a need to identify the strategies for implementing change.
Research (Leadership and Project Specific)
It seems appropriate to provide research on transformational leadership that is the main focus of the current CEO of the company. Transformational leadership implies the consistent improvement that can be achieved through a variety of strategies such as creating an inspiring vision, building trust-based relationships, or motivating people. Hackman and Johnson (2013) claim that “transformational leaders can encourage others as they, first and foremost, encourage themselves” (p. 131). This means that they act as innovative and integrative elements, allowing an organization to raise the upper level of performance. Such an approach makes the employees consider their company and themselves from a different angle. In particular, they perceive change as something leading to a positive outcome. Inspiring and motivating others, a transformational leader remains passionate about his or her work. As a rule, such competencies as intelligence, creativity, and charisma are inherent to a transformational leader. The strong set of values and a specific mission statement are the two elements that identify the transformational leadership style.
References
Bolman, L. G., & Deal, T. E. (2008). Reframing organizations: Artistry, choice, and leadership. San Francisco, CA: Jossey-Bass.
Hackman, M. Z., & Johnson, C. E. (2013). Leadership: A communication perspective (6th ed.). Long Grove, IL: Waveland Press.
Hill, C. W., & Jones, G. R. (2012). Essentials of strategic management (3rd ed.). Mason, OH: Cengage Learning.