Case Study of Space Center Enterprises

Introduction For the success of any business, it is important that there be separations of ownership from management. A business should be run professionally in order to ensure that it survives hurdles in the business environment. Empirical evidence provided by financial experts show that one of the main causes of business failure is family relations or family problems (Aronoff Ward, 1996).Advertising We will write a custom essay sample on Case Study of Space Center Enterprises specifically for you for only $16.05 $11/page Learn More In fact, it is ranked as the main cause of business failure in small-scale businesses. This is a case study of a family-held business. It will be used to show the family conflict, transitions and connection between the conflicts and performance. In its life, Space Center Enterprises or Maritex, as it is presently known, was faced by many challenges that emanated from the ownership structure and governance (Hitt, Ireland Ho skisson, 2011). The company was even facing liquidation at one point and it took the intervention of a board of directors drawn from various stakeholders to restore the company back to profitability. In this case, an insight in the business, the challenges and the mechanisms used by the board of directors to overcome the challenges are discussed in detail. Success of the Business The company began from humble beginnings and became one of the most successful businesses in the time. Harry McNeely started it with a humble $ 5,000 capital that he had borrowed from his father in law (Hitt, Ireland Hoskisson, 2011). The company was called St. Paul Terminal Warehouse Company and it was in the business of warehouse and drayage. The company was co-owned between McNeely and his brother in law, Paul Frenzel, who was also a fellow company executive. His shareholding was however, minor compared to that of McNeely. The company registered growth in asset-base general size of business. A good meas ure of the success of any business is a close look at how the business has satisfied the stakeholder demands (Aronoff Ward, 1996). A business has stakeholders who are the management, the government or the local authorities, customers, the owners or shareholders, suppliers to the business and the public at large. The demands of each category of stakeholders are different and they are sometimes conflicting. A business must always try to rank the priorities of the businesses and ensure a balance in meeting the stakeholders’ demands.Advertising Looking for essay on business economics? Let's see if we can help you! Get your first paper with 15% OFF Learn More For the St. Paul Terminal Warehouse Company, success can be measured by looking at how the company met its obligations to various stakeholders. It is the demand by the shareholders that the business grows so that their value is maximized. The company grew both in business and asset base. It acquired real estat es and was profitable. It was renamed Space Center and later Meritex due to its growth. An example of property bought by the company includes a plant in Whirlpool and land in Burlington among others (Hitt, Ireland Hoskisson, 2011). The business grew from the primary business activity of warehousing to include other business lines such as transportation and financial business. The customer’s demands were met well by the company. The company produced quality goods and services to the customers. For instance, the customers were pleased by the acquisition of Quincy in Illinois by Space Center for distribution purposes since it was a measure to ensure safety and environmental stability (Hitt, Ireland Hoskisson, 2011). This was also a means of satisfying the obligations of the business to the public since the public requires that businesses should ensure environmental safety. The business operated within the regulations of the government and thus it met its business obligations. It paid taxes and was not involved in unlawful businesses. To the management, it is obvious that they were well remunerated since they were also the owners of the business and it was doing well. An overall conclusion can therefore be made that the business was very successful since it met the obligations to the various stakeholders (Aronoff Ward, 1996). Mechanisms available to enhance relationships with stakeholders in order to improve strategic direction and performance of the company There are various systems or mechanisms that an organization could use to ensure good relationship between stakeholders and to influence the strategic decisions and performance of a company. These mechanisms can be understood by having a clear understanding of the possible causes of conflicts of interest between stakeholders and ensuring that the causes of conflicts are avoided. One mechanism and the most important are to put in place a professional management of a business. This is because professio nal managers do not have an interest in the business other than to work for the business. There is thus no conflict of interest between stakeholders (Aronoff Ward, 1996). Another mechanism is to have in place a board of directors that consist of members drawn from the various stakeholders. This board should be charged with formulation of policies regarding the business. The board should have representatives of all the stakeholders to ensure that the interests of various stakeholders are protected (Aronoff Ward, 1996).Advertising We will write a custom essay sample on Case Study of Space Center Enterprises specifically for you for only $16.05 $11/page Learn More The decisions made by this board are supposed to be well balanced hence elimination of conflicts. In the Space Center Enterprises, it is evident that the establishment and implementation of a well-balanced board of directors was a big factor to the recovery of the family business. After the est ablishment of a professional management team and a well-balanced board of directors, a system should be put in place that ensures that the management and the board of directors work towards the same goal. The management should not despise the board and likewise for the board. Each should respect the role of each other and work together in harmony (Aronoff Ward, 1996). Evaluation of performance of the board of directors for space center enterprises The board of directors of the Space Centre Enterprises was successful in fulfilling its governance and dealing with the challenges it faced. This can be supported by facts from the case study. The biggest challenge that the board of directors faced was that of family interference in the affairs of the business. The board made policies that would ensure that business decisions and family issues would not bring conflicts in the running of the family business. Issues such as career conflicts, dividend decisions and ownership structure and li quidity issues were solved once and for all (Hitt, Ireland Hoskisson, 2011). When faced by the family tension between the two brothers who were owners and founders of the company, the board of directors maintained its calm and took measures to mitigate the effects of the tension between family members and in effect the non family members. The board was successful in these attempts and it managed to survive the division that followed. When faced with the challenge of choosing the next CEO for the company after the retirement of Harry, the board ensured that it came up with the best CEO for the company. This was done through requiring Paddy to write plans he had for the family business (Hitt, Ireland Hoskisson, 2011). This was all in an attempt to ensure that the company got a visionary CEO. The board also had back up plans in case Paddy failed as the CEO, a fact that confirms the board was professional in its work. The board also helped the company to survive a takeover bid by the CEO who wanted to impose leadership of the company. He followed Walt Richie’s decision that he wanted to retire and that he had chosen one of the people in the organization to succeed him. The board did not approve this and it planned for a buyout that was effective.Advertising Looking for essay on business economics? Let's see if we can help you! Get your first paper with 15% OFF Learn More In an attempt to eliminate family issues in the business, the board decided to merge the two rival companies into one and initiate professional management into the business. These actions show that the board was successful in handling the challenges it faced in the business at various points. Evaluation of Paddy’s qualification to succeed his father as CEO of Meritex Paddy was qualified as CEO for Meritex Company. Paddy was a banker for ten years before he joined the family business. He was trained and experienced in banking issues such as loans and creations of credit. He was the youngest son of Harry junior and his names were Harry McNeely III. Paddy was his name too. It was less expected by the people and to Paddy himself that he would work in the family business at any time. His father had let him decide his career and Paddy admitted that only fate had brought him to run the family business. Paddy joined the family business without a defined designation after a restructur ing in the bank that he had been working for. It was at this time that he attended numerous meetings for and on behalf of the family business and this gave him the much-needed exposure (Hitt, Ireland Hoskisson, 2011). When he joined the family business, Paddy was in the executive team but with no title and it was from there that he realized there was a long-term opportunity in the business. He decided to participate fully in the management in order to earn the trust of his father and to convince the board, which consisted of both family and non-family members that he had the potential to lead the company. The vision for Paddy was to ensure that the business remained a family business and that it was professionally managed. With the help of other board members, Paddy managed to arrange a buyout programme to save the company from hereditary leadership. Through this, Paddy earned a leadership position in the company and he became the CEO for Space Center. The business name changed to Meritex. The board made the decision to make Paddy the CEO after long consultations and considerations of his role and commitment in the family business (Hitt, Ireland Hoskisson, 2011). His father left the matter of choosing the next CEO squarely in the hands of the board hence Paddy was not an imposed CEO. Accordingly, Paddy was well qualified as a replacement of his father. Primarily, Paddy had attended various meetings for the family business and he had shown the concern and passion he had for the business. Another reason that shows his suitability for the position is the fact that his father did not impose him. His appointment and take over was executed in a transparent manner and was approved by the board and the shareholders. He had tabled plans for the future of the family the business, which impressed the board. He had also helped the company to manage a takeover bid in order to protect the company hence the board had confidence in him. Another reason that can show that Pad dy was qualified as the CEO for the family business was the fact that he understood the role of professional management in the business. He also had support from the family members although they left the task of choosing the company CEO to the board. To cap the evidence that Paddy was qualified as CEO is the achievements he made in the company. He managed to lead the company to great growth heights and even made it win the ‘family business of the year’ award (Hitt, Ireland Hoskisson, 2011). Conclusion Family businesses are known to elicit unpleasant happenings and even cause family disintegration. This is because family issues and business are incompatible things. In the case of Space Center Enterprises, the business was facing a crisis but after separation of management of the business with family issues, the business recovered and became the award winning family business. For family businesses to succeed, they must put mechanisms in place that ensure that conflicts i n stakeholders’ interests are eliminated (Aronoff Ward, 1996). Space Center Enterprises faced various challenges and even filed for liquidation. The company was however saved by establishment of a well-balanced board of directors who were drawn from both the family and non-family shareholders. This went along way to ensure that there was no conflict of interest between the stakeholders and it minimized interference of family issues with the business (Aronoff Ward, 1996). References Aronoff, C. Ward, J. (1996). Family business governance: maximizing family and business potential. London: Family Enterprise Publisher. Hitt, M., Ireland, R. Hoskisson, R. (2011). Strategic management: Competitiveness and globalization, concepts and cases: 2011 custom edition. Mason, OH: Cengage Learning. This essay on Case Study of Space Center Enterprises was written and submitted by user Kara Q. to help you with your own studies. You are free to use it for research and reference purposes in order to write your own paper; however, you must cite it accordingly. You can donate your paper here.

Being a Body Piercer essays

Being a Body Piercer essays Body piercing is the art of putting holes in the body so that jewelry can be place in the holes. Body piercers do not make that much money. They are not paid by the hour; most piercers make about half of the money the piercing cost. Usually during the week it is slow and not many people want to get pierced. Business picks up on the weekends. After the tragic events of September 11, 2001, business has been significantly slow because people do not want to spend money because they think the economy is going to crash, making it hard for body piercers to make very much money right now. On October 22, 2001 I went and saw body piercing live and up close. When I first got there it was slow with no customers and pretty much remained the same way for the remainder of the day. I met the piercer and he taught me about basic sterilization techniques. First you must take the materials you use and soak them in a hospital disinfectant, after the materials have been soaking for a while u then scrub them thoroughly making sure there are no germs of any kind in them. After they have been scrubbed and rinsed you must put them in a sterile pouch and seal them until use. If any materials came in contact with blood u must do the same process except do it for longer because u do not want to transmit any diseases that the person whos blood was on the material might of had. Needles used in piercing must be disposed of in a hazardous waste box. Every material used in piercing must be completely sterile to prevent spread of disease and germs. As the evening progressed a girl came in and wanted to get the holes in her ear stretched out from a 16 gauge to an 8 gauge. The smaller the gauge the larger the hole. When trying to fit the 8 gauge taper into the 16 gauge hole the pain was too much for the girl so she backed out. The piercer I shadowed had 25 piercings including  ¾ inch holes in his ears, other ear piercings, the septum wh...

Paramilitarism Project Essay Example | Topics and Well Written Essays - 1250 words

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Interview Essay Example | Topics and Well Written Essays - 1250 words - 9

Interview - Essay Example Jan Fitters is one of the managers of Philips Lighting. In this interview he has discussed his managerial styles, motivational ways, ethical problems etc. All of these things will be highlighted in this essay. The manager, Jan Fitter uses participative management style for managing his subordinates effectively. This is also known as democratic style which helps the manager in establishing consensuses and commitment among the employees. A large number of employees work under Jan Fitters. He is responsible for managing, encouraging and motivating the employees. For this reason the manager has created a good relationship with the employees for understanding them properly. He takes input from his subordinates for developing any business plans and decisions. He always encourages employees for participating in decision making processes. All of the subordinates of Jan Fitters work in teams. Therefore the participative management style used by this manager help the employees in doing their teamwork efficiently. This management style also increases employee involvement and participation in different functions and processes of the company. Jan Fitters improves the communication and co-ordination am ong the employees by using participative management style. These processes facilitate him in developing innovating and creative ideas which help the company in increasing its revenues and sales. While developing strategies the manager takes consent from the employees. By this way he makes the employees feel that they hold important positions in the company and the growth and development of the company cannot take place without their participation. The manager, Jan Fitters of Philips is very efficient in managing and using team projects. He first determines the objectives and the purposes of the team project for making the teamwork effective. He

Metal Detectors Create a Hostile Learning Environment Research Paper

Metal Detectors Create a Hostile Learning Environment - Research Paper Example This report declares that the writer of â€Å"Metal Detectors Create a Hostile Learning Environment† begins by painting a vivid picture of a school security check conducted by police officers in Wadleigh high school and which is archetypical of what has become common practice in New York schools. They come in the morning and install metal detectors through which all students must pass before entering the school and cause about 3 hours of class time to be lost. This way he builds up argument that the security precautions are disruptive and hostile to learners. He is able to defend this through the description of the rough treatment the students receive at the hands of the police. Ideally, a school is supposed to have a culture of its own known and understood by the teachers and students. This paper makes a conclusion that the writer describes how the police totally disrupt the school program and cause nearly a third of the learners to miss at least a class. They carried out this swoop without prior notice yet according to a press release by New York City mayor Michael R. Bloomberg; Posters should be prominently displayed to notify students and the school community of any searches scheduled in their school well in advance. The writer argues that these searches expose the learners to unnecessary invasion when he states, â€Å"Officers selected some students for additional scanning with handheld metal detectors, requiring them to lean against a table or wall, spread their legs, hold their arms out, and lift each foot to be wanded†.

Semantic Derogation of Woman

Semantic Derogation of Woman The Semantic Derogation of Woman In the reading of Muriel Schulz The Semantic Derogation of Woman, the author talks about words in which describe woman in a slang or profound way. The author says this is because men fear womans attitudes and this is the only way they can let it out. Schulzs talks about how words over time which were nice and gentlemanly like or had a good meaning have become rude and slanderous towards woman. I hope by the end of this paper you will better understand what Schulzs point of view was trying to make clear. The main issue the author points out is how the language we use today will carry through to new generations. She says it throughout the paper that men of degenerated all of these words in some way or form to insult woman. For example she says Shakespeare degenerated the word lewd to mean prostitute(Schulz, 45). No matter how small or discrete we are about using slang words sooner or later a new generation will start to use it and unless a generation decides to stop using a part of language it will continue to pass on. Men throughout history have designed the language throughout the generations and have always made unequals. For example, â€Å"all men are created equal† this statement coming from our founding fathers. Two things are wrong with that sentence: founding fathers, not founding mothers, and all men are created equal not all humans are created equal. Though it is true men have wrote the language and laws we currently and had previously used, the future looks brighter and brighter for woman as they infiltrate the government. Not only this, but woman are a huge part of how we are raised. They are not only teaching us in the classroom, but at home too. This I believe disproves the author who states men help women stay out of the office. There is no way woman would be in office if it wasnt for men standing up for woman and voting for them too. This is where I believe Schulz lacks evidence for her case. The next part of the article Schulz talks about is the slander used to describe old or overweight woman. She talks about how men have made words like â€Å"cow† and â€Å"warhorse† to describe these women(Schulz, 43). I believe half of this is true. Ive never heard an old or overweight woman called a warhorse(Schulz, 44). A warhorse or steed usually refers to a young, fast, athletic person. However, she does list other terms that I would have fully agreed upon like â€Å"hag†. Older ladies still today are called old hags and still today its an insult(Schulz, 43). People who are overweight these days are stilled called cows, and old people are called old hags, these are both insults. Once again she lacks evidence and makes a mistake saying that if you called a man a granny he would take it as an insult. If I were called a granny I would just look at the person funny and say do I look like a girl to you. The next issue Schulz talks about is how words like â€Å"tramp† and â€Å"mistress† have degenerated over time to become words that describe woman if they have sex too much or cheat on their man(Schulz, 46). She makes a good point in that things woman do which help pleasure men are made to look degrading, and are looked down upon. Such acts for example are stripping and prostitution. I would have to agree with the author full heartily on this issue. Even though men love skimpy little outfits on girls, I cant help and look back on how hypocritical we are on those girls. Some of these girls are well sophisticated young ladies just trying to make a buck, so they can get through college and become a helpful person to society. A good example would be Lady Gaga who is now a well known pop singer in the country. Even though her parents were well off and could pay for her college, she decided to strip to pay for her college and make herself an independent woman. The final thing the author brings up is why men fear to be inferior with women. She says men just cant stand it that girls are biologically stronger than men during the early stages of life because girls hit puberty faster. Girls also have a longer lifespan and are less likely to get diseases. For this men must say hostile things to woman to make themselves feel superior and make woman feel worthless. The author here is trying to finish off the reader here with a last onslaught against men, but she makes some mistakes. Yes, boys do feel a little weaker when girls start to grow taller than the, so they do say mean things to make themselves feel superior. However, when men in their early twenties are taller than these girls a why do they insult these girls now. Its certainly not because their worried these girls are going to outlast them in life, its because guys think its cool to show off in front of their friends, and see how bad they can insult a girl. I just feel the author really never covers this age group throughout the article. To conclude I think this paper was very well written overall. This feminist really has a passion for what shes talking about and really shows it throughout the paper. However, I do feel that she did lack evidence sometimes during the paper, and this can leave holes in her story. I hope I have helped you understand what Schulzs feminist point of view was trying to make clear. Works Cited King, James. http://thejamkingshow.wordpress.com/2009/04/07/snap-lady-gaga-use-to-be-a-striper/. 7 April 2009. warhorse. Dictionary.com Unabridged. Random House, Inc. 15 Dec. 2009. .

Leacocks Sunshine Sketches of a Little Town :: Sunshine Sketches of a Little Town Essays

Leacock's Sunshine Sketches of a Little Town It takes a certain type of character to see the humour in everyday life. It takes an even greater character to express the humour in ways that other people can appreciate and subsequently find gaiety therein. Stephen Leacock is such a character, and his compilation of short stories Sunshine Sketches of a Little Town recognizes, and assists the reader to recognize, one's need to laugh at their surroundings, their culture, and the people that interact in their lives. Leacock is known for his profound ironic and satirical wit but, in the case of Sunshine Sketches, he offers aspects of tragic irony and sagacious insight with regards to everyday, small-town life as well, which serves to further enhance the value of his humour. Just as Leacock was interested in the techniques of humor, he was interested in the language of humor. Besides the careful selection of language, said Leacock, humor demanded a "great naturalness" of language, the use of phrases and forms so simple that writers straining after effect would never get them. [Critics] felt that one of the main reasons for Leacock's success was that his style was that of "a talker rather than a writer". Another said..."He talked to the world. And the talk was good." (Curry. p.242-243) Satire is defined as a genre in which the author attacks some object, using his means of wit or humour that is either fantastic or absurd. In the case of Sunshine Sketches, Leacock's target is a fictitious small town in southern Ontario, which could be, and often is, compared to all other small towns across the country. Leacock immerses the reader amidst a collection of ordinary characters who become extraordinary due to Leacock's grasp of the comedy within human nature and the scope of small-town culture and tradition. By utilizing elements of both comic and tragic irony, which by definition suggest varying divisions between words or events and their contexts, Leacock not only creates a humorous environment for his characters, but also one in which the reader may laugh at situations and idiosyncrasies which are strikingly similar to their own. Events such as the sinking of the Mariposa Belle in six feet of water and the subsequent rescue attempts by Mariposans, the comedic courting rituals of the extremely shy Peter Pupkin, and the inane attempts to raise money on behalf of the church are all examples of these sharp, ironic situations. To understand the irony in any work, one must first appreciate the context of such a work. With regards to Sunshine Sketches, the town of