MGMT Essay Example | Topics and Well Written Essays - 1000 words - 1

MGMT - Essay Example This leadership style entails implementing new ideas, with the leaders as the best example of such new idea adoption. The training on this type of leadership should be introduced to the leaders of the company within the first 4 months, after which the phase of implementation of the new leadership style follows in the next 8 months. To address the challenge of change resistance by the leaders of the company, a performance-based evaluation should be introduced in the organization within the first 6 months of new company leadership, where the leaders failing to address the required changes in their areas are replaced with others. To motivate the company employees, while attracting and retaining more talented employee, an employee motivation program should be established in the organization, within a duration of 4 months of the new CEO joining the company. The motivation program should entail cash rewards, training and development as well as promotion of the employees whose performance and exceeds the set targets (Phillips, 1847). In addressing the challenge of reduced profits for the company, a change in the type of products manufactured by the company should be introduced, where the products that are not profitable are scrapped off and replaced with the newly developed products, generated by the R & D department of the organization (Phillips, 193). Facing off the old and non-profitable products and their replacement with new products should be implemented within the first 12 months of the introduction of new leadership. Additionally, strategies for minimizing the costs of production should be sought, with the COO leading a team of researchers to investigate the appropriate production systems and processes that should be installed to reduce costs (Phillips, 188). The whole process of investigating and installing the new systems should be implemented by the end of one year of