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assignment 2 all - Case study report STERLING FINANCIAL...

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Case study report- STERLING FINANCIAL COMPANY Recipient: Yusuf Mohammad By Neha Bedi Student Id: 22619445 MGF1010- Introduction to Management Department of Business and economics Date submitted: October 4, 2010 Words: Table of Contents Executive Summary --------------------------------------------------------------------------- 1 1.0 Problem Identification and Analysis -------------------------------------------------2~4 1.1 Introduction 1.2 Leadership 1.2.1 Inappropriate Style of leadership 1.2.2 Lack of trust 1.2.3 Lack of leadership and management skills 1.3 Motivation 1.3.1 Lack of incentives
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1.3.2 Job involvement 1.3.3 satisfaction and absenteeism 1.4 Communication 1.4.1 Lack of feedback 1.5 Organizational structure 2.0 Statement of Key Problem ----------------------------------------------------------------5 3.0 Generation and Evaluation of Alternative Solutions -------------------------------6~7 4.0 Recommendation --------------------------------------------------------------------------8 5.0 Implementation -----------------------------------------------------------------------------9 Reference List -----------------------------------------------------------------------------------10 EXECUTIVE SUMMARY This paper provides identification and analysis of why and how the problems have occurred followed by a range of the problems that the Sterling Financial Company has, and provides recommendation with an implementation plan so that the management of the Geelong Regional office can be improved. The Geelong branch started facing issues since Bill Osborn started working. Since Bill did not have enough time to adjust and learn the skills necessary for his new job, Bill himself and his fellow employees faced problems such as lack of leadership and management skills, lack of incentive and lack of feedback. The other problems identified were inappropriate style of leadership, lack of trust, job involvement, job satisfaction and absenteeism and organisational structure. The recommendation made key problem such as lack of leadership and management skills was to get Bill to share the responsibility with section managers and ask for their advice
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where necessary. Another option was to ask Mary to come to Geelong to in order to assist Bill as he adjusts to his new job. Furthermore, the recommendation made for lack of incentive was to acknowledge and reward the hard work done by the employees by giving recognition or promotion etc. The second option was to give employees bonuses or pay rises. Lastly, the recommendation made for lack of feedback was for Bill to conduct an attitude survey often and assist the employees based on the problems that might be arising for the employees or Bill should personally communicate with the employees and then appreciate and assist them in improving the results they achieved. 1.0 Problem identification and analysis 1.1 Introduction Sterling Financial Company’s Geelong branch office operates in relation to new or established homes as well as loans for homes for improvements and lends to other smaller consumer finance firms in Geelong. The branch had been unprofitable over the financial year 2009/2010 due to the Global financial crisis and a depressed housing market. The Company later in June 2010 employed Bill Osborn as the new regional manager due to the unexpected resignation of the previous manager, Tom palmer (Monash University, 2010). This left Bill no adjustment period in his new job, which led to a number of problems between the employees such as lack of communication, motivation and leadership.
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