4.Until 2003, HMI offered lifelong employment. How did this practice affect the companys ability to staff the organization with managers and employees capable of executing the strategy? How did this practice build the organizational capabilities required for successful strategy execution?
Lifelong employment was a major strategic approach for the company to ensure that all of its workers offered their skills to the maximum and executed various responsibilities in consideration of the companys welfare and its future positioning. It was within the mandate of Herman Miller to ensure that its workforce was all included in decision-making strategies and that a portion of its market shares was sold to employees who were interested in purchasing them. Lifelong employment ensured solid trustworthy of the management on its employees, this, in turn, meant that the employees were able to dedicate their quality time and ensure that they did offer real-time services for the benefit of the company going forward. It was within the mandate of the Herman Miller helm of leadership from the previous holders of these positions to consider employees as a major component of the management of the company. Engagement, inclusiveness and evaluation of employees based on their competitive edge was the major strategic approach in ensuring that all employees felt as if they were part and parcel of the company. Lifelong employment helped in crafting Herman Miller to its performance heights in the market; employees were certain about their future welfare, and this gave them hope to execute their tasks and responsibilities for HMI growth in the market.
5.Do non-monetary incentives facilitate strategy execution at HMI? Explain.
Yes, non-monetary incentives did and had facilitated vast and immense strategy execution in developing the companys chief significance in the market. One of the major non-monetary incentives is appreciation and appraisal of customers based on their competence; this interprets that there will be increased the motivation of workers in ensuring that they do execute different mandates vested on them adequately. Non-monetary incentives ensure that the company advances forth and the company management staff are not left out, and their skills are incorporated in strategic execution for the welfare of the company. Herman Miller company ensured that employees needed more than monetary incentives in order for its wide customer base and employees rich skills contribute to the growth of the company. Non-monetary incentives have elevated the companys financial positioning and customer base to better heights through quality products that are being channeled into the market.
In addition, non-monetary incentives contribute majorly in employee evaluation in terms of their competence and contribution to the company. Promotion based on performance evaluation benefited HMI in terms of growth through the years. It is also important to learn that employees contribute significantly to the success of a given company and therefore rewarding them in terms of non-monetary incentives ensure that they will contribute majorly going forward.
6.Describe the culture at HMI. Would you characterize HMIs culture as healthy and largely supportive of good strategy execution? Explain.
Herman Miller company has over the years ran its operation as a family segment, this is evident through retention of competent employees and ensuring that all employees operated within the full will of the companys expectation. Not until 1993, the companys top manager was headed by an insider, but after this year an outsider was given the power to head both as a managing director and a CEO. Employees and especially the designers were considered as the major elements of significance in terms of the organization running and operations.
Herman Miller company culture is a proactive approach in terms of strategy execution; the company has grown fast through the definitive culture that it has incorporated on its employees over the years. It is important to highlight the significance of robust culture in Herman Miller over the years and its contribution in terms of growth of the company. More so, it is important to note that the company has been largely supportive in terms of its expansive strategies through the robust culture that it has nurtured over the years amongst its employees.
7.What recommendation would you make to Herman Millers CEO Brian Walker to improve the companys current financial performance? Does the company need to alter its strategy because of poor economic conditions radically? Should it improve its approach to implementing the strategy to reduce costs and improve efficiency? Explain.
In order to elevate the companys current financial positioning, the CEO should work to cut on costs and maximize on outputs. The CEO should be interested in focusing on gray areas that are affecting the companys financial feasibility and ensure that ample team is formed to correct on companys loopholes in terms of costs.
Poor economic conditions call for immediate alteration of strategic market approaches; it is, therefore, a proactive approach for the company to consider the radical alteration of its strategies in order to operate feasibly in the prevailing financial environment.
A strategic approach to reducing costs and maximize efficiency is an inevitable approach for the company to consider with respect to its current conditions. It is within the limits of the company to consider reducing the prevailing costs radically and work towards improving its efficiency. It can do this by laying off excess workforce in order to cut on cost and retain an adequate workforce in order to improve efficiency.
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