MKT 3000 Introduction To Marketing Management

MKT 3000 Introduction To Marketing Management

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MKT 3000 Introduction To Marketing Management

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MKT 3000 Introduction To Marketing Management

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Course Code: MKT 3000
University: Saint Louis University

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Country: United States

Question:

The paper shows comprehensive knowledge and understanding of relevant management and organisational theories and practices.
There is clear evidence of depth in critical thought, with quality supporting evidence.An extensive range of high quality information sources is used effectively.
The paper shows wide knowledge and understanding of relevant management and organisational theories and practices.Sound critical thinking is evident in applying theory and practice.A wide range of quality information sources is used effectively.
The paper shows knowledge and understanding of relevant management and organisational theories and practices.The argument demonstrates the ability to think critically about the application of management theory and practices. The sources used demonstrate the ability to be discriminating in the use of information.
The paper makes a credible attempt at applying relevant management and organisational theories and practices. An attempt is made to apply critical thinking in the case analysis. A satisfactory range of source is used.Does not meet the minimum requirements for this criterion.Research and professional communication (10)
The paper demonstrates excellent research and professional communication.All sources are referenced fully and correctly using the APA6 referencing system.The paper demonstrates a high quality of research and professional communication.All sources are referenced fully and correctly using the APA6 referencing system.The paper demonstrates sound research and professional communication.All sources are referenced using the APA6 referencing system.The paper demonstrates satisfactory research and professional communication.

Answer:

Introduction
The news about merging of an American pharmaceutical BioHealth and a Dutch-based pharmaceutical De Waal was at the top of the story showing Kaspar the chairman of the Dutch-based firm and Steve Lindell smiling at each other. De Waal had established itself in the European market as a reputable pharmaceutical while BioHealth was making significant strides in the American market. Both pharmaceuticals were involved in selling the drugs ranging from painkillers to HIV/AIDS medications over the counter. The merging of the two firms was strategic as they would see be enjoying large economies of scale due to their large size regarding resources and capabilities and this will ensure that their products get pushed through the appropriate distribution channels.
Alison one of the directors in charge of sales and marketing had risen to this position after working hard for so many years. However, Alison is worried and unhappy due to lack of proper communication on where their company was heading. She laments how some employees considered as assets were weighing options after being given offers by other competitors due to the looming uncertainty engulfing the merged firms. According to her, she believes Kaspar is the man responsible for causing problems for their employees. She is concerned after seeing five of Bio Health’s employees exit the company and others were still considering to leave the company.
Conflicting values at stake
Based on past research conducted on the topic of merging, communication was considered one of the elements responsible for the failure of most mergers. Steve, on the one hand, fails to have a communication plan that would be vital in informing employees of their fate. Some very talented people who have exceptional talents are considering leaving the company due to lack of proper communication by their leaders.
The perception that Steve and Kaspar have regarding selecting employees considered as assets to the company and the methodology employed may be best termed as a fallacy, and thus they seem to have lost their way based on three justifications. It is no secret that Kaspar and Steve have opposing views when it comes to urgency needed in recruiting key executives for management purposes. Kaspar seems unconcerned about the slow pace in hiring key management team while Steve, on the other hand, shows concern for the matter as he understands the importance of having a management team in place.
However, it is wrong for Steve to think that he can solve issues in the short term and fix such problems in the long-run when they fall out of place. The selection of the senior executive team will determine the success or failure of the new firm. It is poor decision making that is considered to have a long-term negative impact.
It is irresponsible for Steve and Kaspar to fail using data and well-archived resources in helping them crucial decisions and may negatively affect the operations of the company. It looks unwise for both Steve and Kaspar to draft a plant proposal over the meeting at lunchtime when such a plan requires conducting research and detailed analysis to capture components such as cost analysis, quality issues, and services provided when making such decisions. It would sound viable if data were used in informing decision-making process and giving assurance to employees that essential choices involving them are not being made randomly.
Recommendation of the process to be employed by the HR and the executives
The entire selection process should be explicit, and both Steve and Kaspar have to make business objectives and goals as clear as possible. It is imperative to set parameters that recommend whether the pool of candidates to be interviewed for key positions are to be assessed by performance or other issues. A clear framework should also be provided to guide on what factors are to be considered in choosing company executives based on geographical or functional abilities. Having a balanced senior executive team based on a 50-50 share of slots is crucial regarding this particular context. The possibility of having candidates who have the same values requires establishing a tiebreaking framework to help and guide in such matters.
It is always imperative to have the process of selecting employees particular those regarded as assets to the company in stages. In the first stage, it should help in developing the second stage. Though, the entire process should be wanting but not boring. The company is anticipated to conduct interviews entailing many candidates considered to have potential where each candidate portrays uniqueness. It is also in this context that reviews get evaluated regarding the past performance of such potential candidates. Time and again, soliciting evaluations from external independent consultants, for instance, outsourcing services of human resource to provide objective feedback and assessments of the pool of candidates. It is essential to give reservations for those talented employees who will not be selected to fill all immediate slots in the company. However, it is how the human resource departments sustain such candidates in a formal way that is crucial.
Giving assurances to employees that are deemed assets for each side of the company that they will be considered in the future in lucrative positions should be done. However, such promises should be given if the management is sure that it will fulfill such obligations. Though horse-trading happens, such an arrangement should be allowed only after the integration process is over and not during the beginning. Also, horse-trading should serve as an exception and not a mere rule.
Most mergers have been associated with destroying the much-needed shareholder’s value through the appointed executives. However, on the matter of maximizing shareholders’ wealth, Kaspar and Steve seem to be on the same page on this particular matter of importance. It is also necessary for both Steve and Kaspar to stop the leadership drama that appears to have taken the better part of the merging affairs. Instead, such energy should be channeled towards developing a selection system that will direct such leaders on getting the best people on board who have the needed skills and zeal to make the merged companies thrive at all cost.
How conflicting values ought to be solved
Both Steve and Kaspar should work together as a team, and thus it will be necessary to forge a healthy relationship. However, due to ego issues, forging such a relationship may not be a bed of roses. Thus, this calls for undivided attention to assist in burying the cultural disparities and mindsets that they may be having regarding employees from different firms. This uncalled behavior of trying to outdo each other is not healthy even for the employees. The success of the merger depends on the effort that Steve will put to salvage the company in desperate times. Thus, Steve needs to focus on crucial aspects of the new firm; it would, for instance, have been appealing if Steve convinced Kaspar to join him in selecting the top executive avoiding delays. Forging meaningful associations is essential in realizing organizational goals and objectives.
The fact that none of the leaders has taken the initiative to solve cultural differences is unethical for such companies. It is clear that Steve favors his people as he claims that they always do things the right way. Kaspar, on the other hand, has vested interests as he maintains his status quo of keeping the Indonesia plant with no apparent justification for maintaining such a plant. Issues of cultural frameworks when firms are being merged always extend an array of problems for the selection panel. It is always postulated that when management views employees through a cultural lens, issues always emanate casting doubts on the entire selection process. The wrong attitude held against employees from other companies by saying that they are no match making them look insignificant may be termed as unethical, and Steve needs to work on such a weakness. Thus, both Kaspar and Steve as the top executives have to identify and recognize the style of employees that displays the corporate culture and structure and tie that to the performance of a merged.
With such problems, it is essential to have a vivid picture of how the selection criteria should be. Christian Meyer seems to be skeptical about the whole issue of fairness, though his scheme is identical to the contemporary fads in the human resource and the entire process seems like a process that lacks understanding wants of the business of the merged firm. The existence of a plan and a communication system in a company ensures that the concept of fairness gets implemented. It is thus the responsibility of the senior management team to have a communication plan and keep on updating the candidates and potential employees on the progress of selection criteria to be used. Lack of proper communication between the management and employees leads to such people imagining that their fate is headed towards the wrong direction as demonstrated by Alison’s worries.
Critique the process
Even though Steve is a CEO of a merged company that has a global reputation, he fails to behave like one, and he does everything by himself. Steve makes a blunder of trying to get the regulatory approvals and lets everything out of place. It would be advisable if he used the services of competent lawyers to solve the issue as they could be crucial in giving the much-needed consultation and the way forward on the whole matter.
Steve is also poor in communication. He fails to communicate properly with his employees, and this leads to failure of having an executive team acting and helping the two executives. Steve should have moved fast enough if he wanted to be optimistic about maintaining his top talent. The desire of Steve to maintain some of his employees should push him to talk to some of his people considered to have real skills before such individuals leave the company. Steve should have shown how much he would have wanted to have such people in his organization even though he could not guarantee them anything at the moment. Steve should have used his prowess by motivating them to call him when they are troubled and that they should decline any job offers offered to them would help to calm them and reduce the level of uncertainty among employees.
Steve should have worked harder and used more force on people such as Kaspar so that they could solve the issue of having the best in place which would have helped speed up the integration process. Steve should have learned from his experience with Kaspar that that was Kaspar’s character and that he would never change. Steve is trying to understand Kaspar will only make him tentative. Steve should have taken the initiative and inform Steve that it was time to make decisions and that there was no time for noodling. Making decisions is worthwhile rather than not making them even though such choices may be of regrets.
The fact that Steve is myopic in staffing issues of the new company is evident as he fails to select outstanding individuals and waits on approvals and recommendations from Kaspar, an unconcerned party with regards to this matter. Though speed is critical in the process of integration, Steve moved slowly in fixing issues. Steve is not wise to think that he could fix problems in the short term and when things fail in the long-term that will be the perfect time to put everything right. The modern management world aspires and strives for notable global figures who can manage their firms and such when compared to what Steve is doing; he can be seen as a myopic type of leader. Steve seems not to be bothered by the alarming rate at which the employees are considering to leave, and it will be a daunting task to replace such employees in future given the time constraints and how expensive it becomes to train such people to become exceptionally talented in future.
Steve showing up for a lunch meeting with no strategy on incorporating human resource issues can be termed as careless. Steve is accustomed to making decisions haphazardly. Steve would have done a prudent thing to carry a plan with him during the meeting that could shed some light on how they would retain executives through other schemes such as paying bonuses to those who remain behind till the completion of the integration process. Having a communication plan in place would be crucial in calming the fears of employees.
Usefulness of management and organizational theories and practices
The management theories and practices have been helpful in explaining how useful mergers are as business units. With the development of technology, the structure of such companies keeps on evolving over a short duration. The theories and practices demonstrate the importance of using cost and benefit evaluations on mergers to impact the decision-making process by the management. However, employees play a vital role in determining the fate of alliances. It is the theories that explain how to handle cultural disparities that exist between different firms and how to overcome such issues.
Most of the employee issues are related to human capital such as making the different cultures merge and work towards the common of all employees on board irrespective of their different corporate culture. It is also the management theories that make it possible to plan on how to conduct the selection process of key employees. Also, the development of practices and policies that promote sharing of knowledge among employees of different companies following merging is enhanced by the management theories.
Reference list
Andriuškevi?ius, K.,”Opportunities and Challenges of Value Creation through Merger and Acquisitions in Cyclical Economies.” Procedia – Social and
Behavioral Sciences ,vol. 213, no. 1,  2015,  pp. 764-769.
Govindarajan, V. Planned Opportunism. Harvard Business Review, vol. 94,no. 5, 2016, pp. 55.
Light, D. A. Who Goes, Who Stays? Havard Business Review, vol. 6, no. 3, 2001, pp.121-130.
Raman, G. Who Goes, Who Stays? [website],2015, https://prezi.com/-1_13hwjmj8x/who-goes who-stays/?webgl=0 (accessed 22 August 2018)
Srdan, K., Abdullah, M.and Dev,M.,”Business cycle and aggregate industry mergers.” Journal of Economics and Finance vol. 35, no. 2, 2011 pp. 239-259.
Steigenberger, N., “The Challenge of Integration: A Review of the M&A Integration Literature.” International Journal of Management Reviews, vol. 19, no.4, 2016, pp. 4-7
Stunda, R., “The market impact of mergers and acquisitions on acquiring firms in the U.S.” Journal of Accounting and Taxation, vol. 6, no. 2, 2014, pp.30-37.

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