Many descriptions for leadership exist in the present society but a general explanation for this concept means a process in which a person leads while others follow. A leader ensures the organization of his team to achieve certain goals.
Some of these goals include profit maximization, increase sales volume, and improve customer satisfaction as well as employee satisfaction. A myriad group of leaders prevail from the industrial to the domesticated level and they comprise the following entities:
Charismatic, democratic and autocratic leaders are just a few types of leaders. The democratic leadership style is seen to be the widely applied leadership style.
Notably, no company endeavored into the sports equipment business except Chris Company thus an advantage on its side.
However, the rising levels of competitors in the same market pose as an enormous competition for Chris Company. Alternatively, the fact that the competitors are producing low quality products is an opportunity and an advantage to the company.
In an attempt to restore confidence and trust in the organization, the CEO should first disband the whole finance team and employ a new CFO. The management should transfer all employees in the department to other departments within the organization in order to ensure productivity.
The departments incorporate logistics, the sales department as well as the human resource sector. The CEO should also ensure that there is an assurance department in the organization responsible for auditing all the departments.
Lack of an assurance department raises tension within the employability realm hence calling for the creation of one. The employment of a new CFO will eventually restore confidence and trust in the organization.
Chris Company is the single group manufacturing the sports equipment hence posing as an advantage to it. In order to take advantage of the popularity of the sport, Chris Company needs to improve its marketing plan.
This means that Chris Company will have to increase its advertising campaigns whilst basing this to quality assurance and efficiency in production. In addition, Chris Company should also hire sales representatives responsible for promoting it products in various parts of the world.
In accumulation to the above, the sales representatives should ensure that they attend the Olympic Games to market the equipment and to learn better IMC techniques. This will not only increase the popularity of the company but increase the sales and eventually the profits.
Marketing parse is not the only channel to success rather the CEO should also look for alternative means to finance its working capital. After remaining with an operating capital of 70%, the company requires more finances to reach the 100% mark of the operating capital.
The management and leadership process is in a continuum and the CEO should give directions to the HR department to increase the workforce in the factory. This means that the requisite labor force should have the capacity to work efficiently in a cost effective manner in order to reduce the work backlog and increase profits.
In designing a plan in order to stay at the top of the market, all departments will need representation. The CEO should ensure a strategic plan formulation and ensure that all departments take part in this process. From an overview of the organizational structure, it desires a restructure.
This necessitates the inclusion of new departments within the same structure to make it robust but manageable. The most appropriate departments for inclusion engross the audit and assurance department as well as the procurement department.
Finally, the plan should ensure that each department is functional and relevant. As such, they should create targets that the management reviews periodically depending on the different strengths they possess including finances and the social structures.
In conclusion, leadership in management especially during the formulation of a new company is extremely important. This is because it has the team building capacity that fosters the need for unity and making rational decisions through popular participation and liaison.