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Organisational Planning and Risk Communication Assignment
Question: Address your ability to navigate complex issues in Risk and Reward Management. Critical Thinking, Decision making and Thought process that directly addresses the case study.
Case Study on Tapp Technologies Inc
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In accordance with the phenomenal growth of the pressure labels for the wine industry Tapp Technologies Inc is experiencing good growth and related strain on the current operational capabilities. There is a bit of challenge being faced by the CEO and the president of the company in terms of managing the current work stress, meeting the demands of the raw material, expansion to the new regions and for capital collection through expansion strategies. Though increasing the current board is an appropriate solution, there is need for Jay Tapp, to consider other aspects like intervention of the new members with decision making process, interrupting the vision of the organization, cost problems etc. The report presented with an insight into the possible strategies CEO can take up to face this challenge at present. The strategy works on to provide an optimum mix of possible alternatives from the resources available and also there is consideration to the immediate challenges and opportunities to be looked into in the current operational scenario. All these aspects are addressed appropriately in the following report. There is considerable focus given on the selection of the members of the board in accordance with the weightage of their expertise (Bolisani and Bratianu,2017) and also with due consideration to the possible operational strategy in this regard. The selection of the right board members can ensure right independence and expertise sharing through diverse compositions (Wheeler, 2016). The evaluation attached with critical insights into the rationale, strategy. Emphasis is given to the methodology and hypothesis of the plan.
Back ground and the immediate Priorities ahead:
Tapp technologies Inc is working on to supply the pressure sensitive labels for wine industry. High growth rate of the business is straining the business considerably. The current board of directors and the management do not have the potential to face the challenge of the current work pressure. However there is option possible to take up directors from outside the company, however Jay Tapp, the president and CEO of Tapp technologies is afraid that such interventions of outside directors can slow down his decision making processes in the organization and also will work on to interfere with the current vision of the organization. He is also afraid that such involvement will contribute to the hike in the cost in the organizations and it may also result in further problems in the current cost crunch scenario (Rothaermal, 2017).
The foremost challenges there ahead of Jay Tapp are the following,
• Formulating and promoting and managing the growth strategy
• Immediate solution to the problem of ink suppliers from North America.
• Expansion of sales to United States of America
• Securing more capital to propel the growth of the industry further.
Specific and related priorities:
The indirect challenge that is there ahead of Jay Tapp is the immediate formulation of the board with right number and the right selection of the members of the team. This team is expected to provide the required direction as well as the necessary support to the organization to support the current growth strategies. The severe strain on the organization due to the expansion need to be managed by sharing the management loads by the selected directors and at the same time, their expertise need to be beneficial for the company to carry out its current operations.
• It is also required that the board of the directors need to be appointed without any foreseen cost escalation that can hamper the cost liabilities of the company.
• Same time, the board need to be specifically contributing to the decision making and progression of the organization but should be an obstruction to the organizational progression.
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Rationale for formulating the check list of the priorities:
The key list of the priorities is formulated by consolidating the immediate market conditions of Tapp Technologies and by formulating a strategy to address its immediate concerns. Well execution of these plans will contribute for the betterment of the organizational business and can enable its growth plans get materialized.
Strategic plan and interventions:
The key focus on the current proposed strategic plan is the renovation in the structure and the operational model of the Tapp Technologies Inc to take up the advantage of the risk and reward operations in the organization. Also there is considerable focus made on the mandatory sacrifices needed in the context of achieving particular outcome in the complex operational scenario. The strategic thesis is proposed with inclusion of both the losses and the benefits with an inherent evaluation and justification of the model by consideration to the benefits outweighing the disadvantages contained in the proposal. The entire set of operations is aimed at strategy execution (Ul Musawir et al., 2017) in accordance with the organizational priorities and expectations.
Methodology and hypothesis
The proposed methodology in the process is mainly based on evaluation of the possible benefits and comparison of the same with the associated losses and the costing. During the due course of time, the decisions are made based on the evaluation of the relative advantages and the selections are made based on consideration to maximization of the benefits over the cost and the losses.
The hypothesis in the current strategic management proposal is Consideration of the risk in relation to the possible outweighing benefits of rewards in offer for the organization. The rationale suggests taking up the risk of costing and complications through diversity members with consideration of the possible rewards in near future.
Some observations in the current case:
» There is considerable investment needed in the current case for the business expansion, however the investment need to be justified based on the necessity and promising returns.
• One key observation is the fact that the wine industry and label market is about is worth about $200 million. About 15% of the total label market is already accepting the pressure label technologies. Out of this huge market about 40% of the total market share is already grabbed by Tapp Technologies Inc. It is a calculated guess that the market will turn up towards the pressure labels for about another 50 to 60% in the coming three to four years of market time. Even if reaches about half of this projected growth it can be a right decision for the Tapp Technologies Inc to expand further for building up capacity to cater to this projected growth market. As Tapp technologies Inc is already established in the market, if managed carefully, it will not be difficult for the company to grab the rest of the market and the company is in advantageous position to capture this market.
» Gallo which is a largest winery in the North American market with about 50% of the total market share is moving into the pressure labelling and this is injecting about $25 million volume of pressure labels into the market and this can be a considerable opportunity for the Tapp Technologies Inc Company to grab the market. Any intervention in this regard can be profitable and strategically an intelligent move from the company side.
» Tap Technologies Inc does have the experience and proven expertise to consider the fact that the equipment and the label print technologies can be combinely sold and there is proven evidence of sales in this regard. So any intervention to take advantage in this regard can be of use to the organization.
» The current board of the organization do have three of his family members including himself and also includes Bob kites, an experienced person in marketing the glued labels to the wine industry from a large organization.
» As of now there is no competition to Jay Tapp in pressure labelling industry as most of the companies in this domain are at present located in Europe and there is no competition for Tapp Technologies Inc for pressure labelling domain. Also the contributing factor that supports further investment in the Tapp Technologies Inc is the fact that the wine industry is growing at a pace higher than any other domains nearby.
» Tapp Technologies do have selling experience both for the production oriented companies, who are looking for cost effective means as well by selling oriented companies which emphasizes the appearance and the presence of the labelling and the appearance of the packings.
» As of now the particular challenge contained in manufacturing side, Jay Tapp is facing challenge in meeting demands with limited operational capacity. Key focus challenges include wastage control, productivity issues, capacity build up and efficiency in operational management. Further there is need to focus on capital fund collection. The current tie-up with British Columbia is no more willing to extend the funding as per the growing demands of Tapp technologies Inc.
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Board and related decisions:
• It is a good decision to move for increasing the number of the board members that too in accordance with the immediate operational requirements of the organization. Refraining from approaching consultants is a good decision as they may not help the organization with their lack of broad perspective and with increased cost factor of the services.
» Possible potential candidates for the expansion of the board:
o Marty Paul can be considered as she is associated with sun chemicals and she can offer potential support for the organization in providing the most necessary raw material ink for the company operations.
o Ed Mayer is a potential candidate as he can provide valuable assistance from his strategic position with venture capital and from the contacts he had for securing the funding.
o Louis Charbounneau can be an excellent contact for promoting business into the America as he has large connections directly into the wine business of America.
o Donn Connores can be a potential candidate with legal advocacy for the organization.
o WOF's director, Mike Phillips on board can be an attractive option as they could monitor the funding in the process and can manage the same as well.
Evaluation of the decision taken for the formation of the board team: Marty Paul, Ed Mayer and the Mike Phillips were taken as new members of the team. At the same time, Maureen Tapp is made to resign the board as the maximum number wanted to be on board is only six.
o The decision is good in the sense, Maureen Tapp being out of the team can be provided other positions as advisory to the marketing team or can be deputed for some other senior position in marketing and at the same time the total board members can be restricted to six.
o Further his long time associated Bob kites can be provided with succession planning for chairmanship as he understands well the organization vision and its objectives to move forward.
o It is also possible in near future with the retirement of Current chairman, Larry Tapp, either Maureen Tapp can be taken in as director for marketing or alternatively Louis can be considered who can be potential candidate for promoting marketing expansion to America.
o Office support, secretarial operations, consolidations of the meetings, working out liaison of the directors, possible virtual meetings and expertise sharing etc can be done by appointing an efficiency office secretary and Maureen Tapp can be deputed of supervision of this entire process as her attachment with the company and the experience can be of good use for the organization.
Reflection on Critical thought and thinking process:
o The key criterion for critical thought and thinking process contained in estimation of the current situation from both the objectivity and from practicality lenses. Further the evaluation is done from the possible immediate sources to augment the process delivery.
Risk to reward strategy:
o The key risk in the entire process contained in selection of the right strategy and the selection of the right members of the board for the operations. The entire process is done based on the current situation and with immediate consideration to the priorities. For example consideration of Louis in the board can be good for marketing to United States; however consideration of WOF direction is of more significance as it will immediately benefit the capital collection for the organization. Marketing can be achieved once after capacity build up or simultaneously along with capacity building. Also it is a priority as WOF insists its member to be on board.
o The key risk is the costing of the board to the organization in terms of the compensations needed, costing to arrange for the meetings and the possible interference with the decision making process. However the rewards too worth to consider, the organization can get benefits interms of increased returns for the organization by materializing the capacity build up, capturing the expanding market in North America as well as penetrating the markets of United states in future.
o Considering the advantageous position of Tapp Technologies Inc at present in North America as well considering the expansion of the wine business in North America, it is a considerable risk for the organization and the rewards can overshoot the losses and the costing contained in the strategy.
Key rationale for the strategy:
o Within the constraints available, the proposed strategy can provide with best assistance in terms of the enhancing the production capacity, can enable the necessary capital for taking over the necessary capacity plan, will free up the chairman through succession planning, which can contribute to the speedening of the meetings, consolidations and expertise collection for decision making etc. As a whole the selected strategy will enable the overall decision making with more focus on managerial benefits. As of now the Jay Tapp is facing problems in terms of the management spread thinning and the current strategy can help him to focus more on management as well can also help to collect the necessary capital which is the key constraint hampering the growth(Chang, 2016).
Time lines, possible outcomes
o The entire timeline for the operations can be from a month time and the operations consolidation progresses. The strategic plan of collecting the funds establishing the capacity does continue thereafter. The entire process of production and carrying out the expansion and subsequent growth into other prospective customer domains in North America and United states is a possible outcome in the near future. More likely possibility of outcomes will start in a year and will continue subsequently along with the growth of the wine industry in the country. The time lines are representatives and optimistic and actual plans depend on the situation.
The entire process of strategy change in the Tapp Technologies Inc is driven by the need for capacity building as per the growing market demands. Also is guided by the need of CEO to get some support for the organizational management as he is getting more occupied with the straining work pressure and stresses. Though there are other options like consideration of Louis on board, considering the priorities of capital collection and capacity building, WOF director Mike and Ed Mayor were taken into the board. AS they are going to the investors too, there is more scope for responsibility and cohesion in decisions that matter with cost reduction opportunities and containment chances. Further when Maureen Tapp is removed from the board, there is more scope for her to focus on strategies of supporting the board operations by office administration supervision and by focussing on future strategies of market expansions to United States of America and into other locations as well. Such interventions can help for the organization to promote the business in future with ease. Jay Tapp with these developments can get the necessary capital support as well can get sufficient time to meet the growing demands of the local markets and will also capture market from the growing companies like Gallo which is going to provide with about $25 million market share. Considering the big picture of phenomenal growth of pressure label markets as well considering the scope to increase the revenues in the local and international market through expansion programmes, there is scope for Tapp Technologies to ignore the possible costs and insurance in the director liabilities. Further it is worth considering this option and it is not too high when compared with the large future ahead. In any case, the board expansion with the selected new members can be the first step for the organization to progress in this direction and this will make sure the organization can achieve its targets in the coming future more profoundly. The only consideration that CEO needs to focus now is to align the strategic operations of the board more effectively considering the geographical location barriers and the possible collaboration and intervention issues. Further by stream lining the operational issues, like collaboration, expertise sharing, decision making collaboration etc, it is possible for take up decisions more effectively from time to time. Office management assistance from deputed expert and under the supervision of Muareen Tapp optionally can be of good use in the current situation. Also the deputation of other key personnel as directors can also be considered in future, based on the returns the organization is obtaining from the current span of operations and the realization of the growth plans as well. The proposed strategy is strictly based on the prevailing conditions and complexities being faced by Tapp Technologies Inc and the strategic operations and even the structure can be modified based on the developments that can happen in the future as per the changes in the organizational profile of operations and growth achievements.
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