Business courses would be incomplete without the mandatory case study component. In order to prepare pupils for success in the business world, educators have synthesised lessons learned from actual circumstances. Discussions in class on assigned case studies are a great way to hone students’ critical thinking skills, which in turn may lead to more effective problem solving. Every management student should be familiar with these top real-world company situations on employee performance and retention, supply chain management, growth and investment, etc.
1. Workplace Drug Abuse
Amber, the administrative assistant, got off to a good start, but then she started acting in more strange and contradictory ways. Her productivity was excellent, but she began missing work and calling out ill with alarming regularity just around the time she was due to be paid. She began taking out loans from people and not paying them back. A short time afterwards, she started becoming irritable while speaking to customers over the phone. She was busted for smelling what turned out to be cocaine powder.
When she was challenged, she ceased showing up to work, and it took a while for a replacement to be located. Industry experts believe the company’s actions were inappropriate, including taking too long to dismiss Amber and focusing on claims than than investigating behaviour directly related to work, such as tardiness and rudeness to customers. They also point out that Amber should have been given a drug test before being held accountable for cocaine use, which would have provided an opportunity for rehabilitation and employee faith rather than a severed bond.
2. Malden Mills Case
As an example, Malden Mills learned firsthand that weighing the costs and advantages of several options may help determine which is the best course of action to take. When the factory burned down in 1995, just two weeks before Christmas, all production ceased and workers feared they wouldn’t have jobs until the processing plant was rebuilt. However, CEO Aaron Feuerstein granted the workers an additional 90 days of full salary and 180 days with benefits, costing Malden Mills $25 million.
Collaboration and profitability reached a new peak once the processing facility was upgraded and the majority of relocated experts were rehired, resulting in 40% more business and 95% client and representative retention. From the first week on, production increased from 130,000 to 200,000 yards. However, since then, Malden Mills has been forced into liquidation court three times, with most of the debt stemming from the need to rebuild the factory. No doubt Feuerstein brightened the spirits of his employees, but management students should look into this example to see whether they agree that exemplary acts of charity never fail to please.
3. Starbucks and Exclusivity
Back in 2008, Starbucks said they were going to shut down 600 shops in the United States. Up until that time, Starbucks outlets had new additions like wi-fi and music, but the brand was starting to lose its cosy “neighbourhood store” vibe in favour of a more impersonal “chain store” image. Harvard Business Review notes that “Starbucks is a mass brand attempting to charge an exceptional price for an encounter that is not any more remarkable” Thus, in order to remain competitive, Starbucks would have to either reduce expenses in light of the fact that its consumers are price-conscious or reduce the number of outlets in order to restore the selectiveness of its brand image.
According to HBR’s analysis of the company’s environment, the company has three challenges: alienating its early adopters, attracting too many customers, and developing too slowly in terms of new locations and products. Harvard recommends that Starbucks should have stayed under wraps, growing at a measured pace to preserve its exclusive reputation.
4. Smaller Business and Bigger Profits
For a select few, the allure of big business is undeniable. But there’s plenty to be said for a standalone business, too, what with lowering risk and opening up room for creativity. Big D Custom Screen Printing owner Darren Robbins of Austin, TX found success by catering to customers with varying order sizes. Big D initially served just large orders, but it sat empty until another such request came along. The store was able to make up for slow periods by filling in with smaller orders, thanks to convenient booking and upfront pricing. In a niche that wasn’t being aggressively pursued by other local screen printers, Big D saw an opportunity.
Experts agree that Big D came up with a fantastic strategy by using this way to disperse their company risk and provide new, customised products. However, at least one criticises the product, pointing out that the niche has little to no upside potential and might actually reduce output for the business.
5. The Right Successor
The loss of knowledge and expertise is another serious problem that arises with retirement. When workers retire, they take their accumulated skills and knowledge with them. American Express, however, implemented a trial programme to keep this. AMEX formed a workforce transformation team to help with the transition from retiring staff. In exchange, they’d be expected to devote a portion of their time to training and guiding the next generation of leaders. As a consequence, retirees may now depart gradually, taking their time while continuing to collect a portion of their pre-retirement pay and perks. As a result, several workers remained a full year beyond their normal retirement age.
AMEX thinks this programme is working because it’s enabling retirees to enjoy their last few years in the workforce at a reduced capacity while also providing the current workforce with the training they need to succeed in the future.
6. Retirement Revolution Study
The loss of knowledge and expertise is another serious problem that arises with retirement. When workers retire, they take their accumulated skills and knowledge with them. American Express, however, implemented a trial programme to keep this. AMEX formed a workforce transformation team to help with the transition from retiring staff. In exchange, they’d be expected to devote a portion of their time to training and guiding the next generation of leaders. As a consequence, retirees may now depart gradually, taking their time while continuing to collect a portion of their pre-retirement pay and perks. As a result, several workers remained a full year beyond their normal retirement age.
AMEX thinks this programme is working because it’s enabling retirees to enjoy their last few years in the workforce at a reduced capacity while also providing the current workforce with the training they need to succeed in the future.
