In order to meet the new business situation, the company had to implement many changes. This paper investigates the change that has taken place in SMC since the acquisition. The research provides company’s profile and its history as a basis for further investigation on the influence of the acquisition and a new parent Sinosteel Corporation (Sinosteel) on the Midwest Corporations. The purpose of this study was to research and critically examine the change process in SMC, analyze the impact of the change on employees and on the company as a whole. Some critical review and recommendations are based on the leadership knowledge. The methodology of the study implies a review of related academic journals that helped to examine the company’s changing process. A questionnaire was filled in by SMC employees to provide the researcher with a clear picture of how in particular the change was implemented. A list of key questions will be made for interviewing a SMC decision-making executives was based on the data collected from the questionnaires and conceptual framework from the journals. 2. Introduction and Objectives The purpose of the study was to review and critically analyze the changing process that took place in Sinosteel Midwest Corporation. Before the acquisition the company was operated by its founder and several major shareholders, as top executives and broad members. Most of these executives (i.e. broad members) left the company having sold their shares to Sinosteel, the company’s current owner. The major objectives of the company were changed too. Previously, the main goal of Midwest was looking for strategic investors (business partners) to finance the company’s iron ore projects development. Midwest was then supposed to use its revenue from selling iron ore to pay back to the investors. To change the situation, Sinosteel, as one of the biggest Chinese iron ore traders, does have an ability to finance the project development and, at the same time, provides a big demand for SMC’s iron ore. Since financing is not a problem anymore, SMC’s core business has changed to work more efficiently on the development of iron ore projects. A serial of change from business strategy to organizational structure have been made to meet the new situation and new requirement. Therefore, this study has explored how the SMC’s management team designed its new strategy and new structure for them to correspond to the new conditions the company works in after the acquisition. The research also examines how the change implementing process was leaded by a new Chinese Managing Director and whether the company’s leadership was effective enough as to implement the changes successfully. The impact of the change on both SMC employees and the company in general has been reviewed. Finally, the study provides some recommendations on how such changes can be implemented more effectively and what lessons other businesses can learn from SMC’s experience? 3 Organizational Context – Sinosteel Midwest ...
Cite this document
(“LEADERSHIP AND CHANGE MANAGEMENT Essay Example | Topics and Well Written Essays - 2750 words”, n.d.)
Retrieved from https://studentshare.net/music/35179-leadership-and-change-management
(LEADERSHIP AND CHANGE MANAGEMENT Essay Example | Topics and Well Written Essays - 2750 Words)
“LEADERSHIP AND CHANGE MANAGEMENT Essay Example | Topics and Well Written Essays - 2750 Words”, n.d. https://studentshare.net/music/35179-leadership-and-change-management.
According to Rafferty, leadership is that notion in which the “vision is driven from an emotional front with some practical ability to achieve that vision” (1993, cited in Barr and Dowding, 2012, p. 6). Rafferty believes that leaders are those people who inspire others and trust in their integrity (1993, cited Barr and Dowding, 2012, p.
RECOMMENDATIONS 9 Works Cited 10 1. INTRODUCTION The notion of leadership can be termed as a set of competencies or traits possessed by an individual that tends to influence a group towards the accomplishment of the organizational vision or predetermined business objectives.
Currently, the company is on the verge of changing its operations in order to improve the performance of the company. Managing change is an important aspect of the organization in order for them to remain competitive by responding the market needs.
What implication dose these have for your organisation, and your own development
Organizational change or change in general can be defined from a variety of points depending on the perception of the user. An individual or employee in an organization may look at a new post or position as a change while higher management may feel it is unimportant.
n important aspect of understanding how change can be brought to any given organization, the practical examples of companies which were changed by their leaders are often more interesting.
Two such examples come from GE and Apple which were both turned around from their state
The retail outlet likes to serve the customers in such a way so that they visit again and are retained. The management often gets in touch with the customers to know what kind of changes the company should bring to make their customer visit again. They
This is because; the human resource is the prime requirement of any organization operating in any segment and in any region. As human resource are mainly responsible, for the fulfilment of the future goals
This paper discovers the Marketing & Management of Fashion. Fashion marketing and management allows students to develop diverse skills allowing them to grasp fully and appreciate business management and marketing in the fashion industry. The major has three major areas aimed at enlightening the students that are management and marketing.
Project leadership, on the other hand, entails the comprehension of individuals in the attaining of goals in business projects.
Processes included in the management of change and leadership includes different approaches. However, two major