Wednesday, September 11, 2019

LEADERSHIP AND CHANGE MANAGEMENT Essay Example | Topics and Well Written Essays - 2750 words

LEADERSHIP AND CHANGE MANAGEMENT - Essay Example 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 exe cutives 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 c an learn from SMC’s experience? 3 Organizational Context – Sinosteel Midwest

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