family-owned business corporation from the perspective of Charles Luck
The case study is about a family-owned business corporation from the perspective of Charles Luck, who is the latest leader. The case entails an overview of the strategic management processes involved, which Mr. Luck directed, and the emphasis on the implementation of leadership based on value. Mr. Luck needs that his leadership skills would be challenged; hence he considered a value-based strategy to unlock the potential of his workforce and the various groups of stakeholders. The case study starts with the introduction of Mr. Charles Luck and the different conditions of the industry. It also reveals the status of the company, including the employees and the substantial presentation of evolving Charles luck companies.
Following the current state of the company, when Charles Luck became a leader, there many issues that needed immediate attention. Charles Luck jr founded the luck companies. A significant percentage of its profits come from housing starts. It has four business units that comprise of Luck stone, Charles luck, luck development partners and Har Tru tennis court production. The major challenges for the company entail deciding the way forward for the company. The top-down management style that was used by the company was currently not ideal for meeting the needs of the customers and the employees. Improving corporate leadership entailed that the company considers personal leadership. The company needed to define its core values that determine the company. Another big challenge was terminating 125, employees of the company.
Despite the current challenges that the company was facing, there were various strengths and weaknesses of the sweater. The primary strength of the company was the consideration of value-based leadership, where integrity commitment leadership and cr4eativity were considered as core values. The major weakness was the lack of a cohesive leader. Cohesive leadership would ultimately lead to value-based leadership. Under the leadership of Charles Luck, the company had major opportunities. The opportunity was the vision 2020, which entail a growth strategy that would grow the company twice its current size. Even though the company had hope of major growth by 2020, the major threat was the 2008 recession. The 32008 recession, though had happened a while back, had hit the company so bad. Then recession created major setbacks for the company that stagnated the progress of the company profoundly.
From the case study, however, there exist various solutions that would propel the company to achieving the 2020 visions. The chief growth officer is required who will responsive to differentiated growth across the enterprise. The officer would also ensure financial results across different areas of the enterprise. The chief leadership officer would offer strategic support for the company. The company also needs to consider the acquisition of outstanding talent and to retain the same. The retention of high performing talent will ensure that the company meets its goals as soon as possible. The chief family officer, on the other hand, would handle all the family investments, such as estate planning. The chief family officer would also serve on the strategic leadership team to ensure the transformation of the organization and the alignment of the company’s activities with the mission and vision of the company. They vouch for the value-based leadership is probably the primary strength of the company that would contribute to the achievement of the 2020 vision. Thus an ideal recommendation for the company is pushing hard for the journey based on values for the future of the company. Additionally, the Har-Tru division needs extra efforts as it can become a profitable underdog.