Transcript
Strategic Performance at Hawk Electronics findnow.pk/strategic-performance-at-hawk-electronics
Strategic Performance I think Chan is performing extremely well from strategic point of view as she is devising such strategies that are helping in the growth of business. The best example in this context is Disruptive Dozens, a group of six established and six under progress ventures that are active part of Hawk Electronics and these ventures are adding value to her program Unified Division. She has reshaped the problems into her power in terms of strategic planning. For instance, when three employees stepped to her office by the third day she became CEO and asked to leave the company she should have panic by the situation but she supported Jennifer Yu and Talia Part to start their venture and she assured them to invest in their projects. She prepared and signed an agreement with them in this regard and assured them her support and confidence. I believe the strategic planning was perfect as Clan was thinking of future and she was not shocked by the present situation. Her aims were clear and she knew that it is necessary to expand business in various dimension to remain competitive in the market. She empowered and encouraged Jennifer Yu and Talia Part to start their own venture with a clear aim that Hawk would buy these ventures in the future if these are successful and Jennifer Yu and Talia Part would become shareholders.
1/6
The decision was risky and the results were unpredicted as there was no assurance that Jennifer Yu and Talia Part could make an strong and successful firm but Clan believed that two of these were her best hardware developer and the Yu was the younger version of herself therefore she was willing to take this risk at the behalf of skills and abilities of her team members. I think Clan did best and it was totally in the favor of the company as the company needed sister companies or small attached ventures to become successful and to lead the market in the long-run. The best thing in this context is diversity and variety of goods and service that help to make a company distinguished in the market (HAMERMESH, 2018). The same was the strategic plan of Clan. No doubt, it was a risk as Clan proposed the employees who wanted to leave the firm and to start their own ventures to provide financial support up to 75% to complete their projects and to meet their deadlines. However, she asked them to start the business on their own by spending 25% of all the initial expenses. Moreover, she also proposed that Hawk has an option to buy the successful venture within three years by paying the total amount. It was hard to decide as nothing was forecasted and there were solid chances that these ventures can fail and 75% funds of Hawk can lost but Clan did it, as she knew it is essential to take big risks in order to remain effective and to lead the market. I support her strategic performance as CEO as it is core responsibility of CEO to find and cultivate new opportunities and paths for the success of the company or the firm. Clan did it as she knew that the demand of The Unified Divisions is increasing and the ventures have great future (HAMERMESH, 2018). Likewise, she has extensive market experience and knowledge, which made it easy for her to take tough and harsh decisions. Her decisions were in the favor of the company and helped to increase its sales, business, and overall profit. To sum up, I would say that I am completely satisfied by the strategic performance of Clan as CEO and I support and admire her strategic planning and innovative thinking. Moreover, I also support her decision-making and risk taking abilities that are essential for an enthusiastic CEO.
Organizational and interpersonal performance If I evaluate the performance of Clan as CEO in terms of organizational and interpersonal performance then it is easy to say that Clan has remained successful in terms of both organizational and interpersonal performance. This stance can be described by the fact that the core intention of every business organization across the globe is to enhance its business and to remain effective and competitive in the market. Moreover, every business wants to lead the industry by innovation and technology. Clan as CEO does the same as she has worked for business diversity, extension, and expansion of Hawk Electronics (Barnes, 2015).
2/6
The next significant thing in this regard is variety and quality of the products and services to excel in the market. Clan has added around dozen disruptors to add quality and variety to The Unified Divisions of the Hawk Electronics. She invested in small ventures of her employees to stand them so that they can add value and variety to The Unified Division production lines. I truly admire and support Clan’s planning and organizational performance as her CEO. She has enabled to raise the share price of the company from $75 to $100 from 2008 to 2011. It is not easy to achieve and I would say that it is a hard nut to crack for a CEO to increase the market share price of the form by 20 to 30 percent in just three years (HAMERMESH, 2018). The next achievement of the firm is in terms of its stock price as it faced an increment of more than 90 percent from 2012 to 2016. It can be analyzed from the percentage that how successful Clan has remained in terms of organizational performance as CEO as she has enabled the company to increase its stock price by such a huge percentage in just 4 years. Now, if I talk about the revenue of the firm then it is again an example of Clan’s success in terms of organizational performance as it increased from below than $2billion to $3.4 billion in her tenure. Likewise, the income of the company also moved form $133 billion $222 billion in her period. To sum up, the business and growth of Hawk Electronics was increased by more than 25 percent by Clan as CEO that is more than enough to admit her success in terms of organizational performance (HAMERMESH, 2018). The next thing in this context is interpersonal performance of Clan as CEO. I would say that Clan has succeeded in terms of interpersonal performance, as CEO as well as it is the core responsibility of a CEO to have strong interpersonal interactions and skills to influence the future of the organization in positive and constructive manner. Clan as CEO did the same as she had strong interpersonal relationship with her The Unified Division team and she knew their talent and abilities very well. She trusted their skills and abilities and showed her consent to invest in their small ventures, as she knew that these people were well able to carve something new for the Hawk Electronics (Jiang, 2015). It could not have happened if Clan had no interpersonal skills and relations. She would have considered their offer as a challenge at the third day of her CEO or she would consider their resignation as a conspiracy against her. She took things in positive manner and proposed such plan that was beneficial for both the employees and the Hawk Electronics. To sum up, I would say that Clan has remained perfectly successful in terms of both organizational and interpersonal performance, as she has helped company to expand its business by more than twenty five percent and helped it to remain dominant in the market.
3/6
Moreover, Clan’s wisdom and strong interpersonal skills have helped the firm to have old and loyal employees to become small ventures of the Hawk Electronics. She has not left them or let them go and she has used them in the best possible manner in order to benefit them and the company as a whole. She has successfully established over dozen disruptors that are adding value, quality, and quantity to Hawk Electronics and helping it to remain unique and leading firm in the electronic Industry. I completely admire her skills and intelligence and I would say that she deserve the seat and she was the best option for Hawk Electronics (HAMERMESH, 2018). Problems There are various critical challenges faced by Clan after becoming CEO of Hawk Electronics. She faced the first issue just after two days she became the CEO of the company when three old and hardworking employees Jennifer Yu and Talia Part came to her office and they told her that they wanted to leave the company to start their own business venture. The next important issue of challenge was to prepare a proposal of joint venture with these employees in which she decided that the company would invest 75% of the funds in their project after the start by initial investment of 25%. The success was suspected as market trends can only be forecasted and there is no surety and security of success. The loss of funds was solely her responsibility in this case. It means that she had to take a very harsh and hard decision at her own for the success and expansion of the business venture. One of the most risky application prepared by these ventures was solid-state storage that can be used for large-scale projects. Clan was sure that it has a bright future in the market and its growth was expected but it required huge funding and monetary support to launch the application and to make it worthy enough to compete the market. However, Clan somehow managed to fund the application and the results were awesome but the initial launch was highly suspected and full of risks. The next important problem was related to the technical issues, which can arise in the applications or tools. Clan was well aware that there is always a probability that such projects can face certain and severe sort of technical challenges that require extra funds in the form of cost of re-work and extra labor hours. For example, if one of the application is successful it does not mean that it would work successfully in the future as well because addition or removal of a certain hardware could result into malfunctioning of the whole system. Nevertheless, Clan faced all these challenges and issues with confidence and experience to cultivate success for herself, ventures, and for Hawk Electronics altogether.
4/6
Another most important issue faced by Clan was that there was lack of cooperation among various groups of The Unified Division. The lack of cooperation was delaying the launch of certain products and applications in the market and the company was not able to launch its unique products quickly to compete its rivals and competitors (HAMERMESH, 2018). R&D and production teams of The Unified Division were working perfectly but sales and marketing teams were not co-operating accordingly because they were dealing with vast industrial groups and they have to take care of customer needs and demands. In short, they were not able to convince their clients to try to purchase new goods or services of the Hawks Electronics. There was huge differences in the prices offered by the production or manufacturing department and sale and marketing departments. Both these departments were not able to find a unique platform to launch the products. The sales and marketing personnel were consistently arguing for low prices and they were focusing on the customer need and purchase power while production and manufacturing departments were focusing their expenses and work behind the new services. Furthermore, certain other issues such as issue of targeted sale, quality of new products, and over-costing of products started occurring when Yu became vice president Yu was unable to forecast the market trends and company’s share were falling continuously. Moreover, Peripheral Division was also facing certain professional and technical issues and Martinez was unable to handle these issues. All these issues added to create many challenges for Clan as CEO but she coped with all these issues efficiently to achieve her aims and goals. Actions Various important actions are required by Clan to overcome and cope with the abovementioned issues and challenges. The first and the foremost action in this context is to overcome the technical issues as these issues result in to extra cost and time of re-work and they also compromise the quality of the products. It becomes a hard nut to crack in terms of market competition when the products are having critical technical issues. The next recommended step in this regard is to generate or create co-operation among the sales and marketing department and production and manufacturing department as it is essential to bring both these departments at a single platform to increase the sale of the products to expand business and to earn profit. However, it must be kept in mind that Clan’s focus should be more on sales and marketing department as this department deals with customers and it knows about customer needs and requirement along with market trends (HAMERMESH, 2018). Therefore, it is recommended to give importance and priority to their stance to become successful as it is useless to create new products without knowledge about customer needs and requirements. It is just waste of funds to keep on making new products without having a proper direction (Radaelli, 2014). 5/6
I would suggest Clan to have a comprehensive market survey before supporting any sort of venture as they survey data would help her to forecast or to predict market trend in more effective and detailed manner. It would help her in decision-making and enable her to take hard decisions in the future. Moreover, she needs to increase the number of disruptors to add new variety of products in company’s product line. However, it is strongly recommended to have strong quality check to ensure product functionality and integrity with the market requirements (Trahms, 2013). Read Essay provides a platform for UK students from all over the world to connect with experienced and professional writers. You can benefit from our custom writing solutions like we offer help with economics homework, mechanical engineering homework help, and many other writing services. Also Read: 10 Must Know Things About Traveling With Vaporizer
6/6
