Lakeland Wonders Case Study Essay
Lakeland Wonders Case Study
1. How will the new CEO’s vision transform the Lakeland Wonders organisation?
• Change of brand image- no longer ‘Handcrafted with pride in the USA’. • Change of organisational culture with the proposed expansion. • Create new revenue streams with expansion into new markets. • Departure from the traditional style of the company.
2. What are the main concerns of the stakeholders who do not agree with her vision?
• Loss of Lakeland Wonders image and ‘94 year tradition’. • Expanding too quickly could damage the company, concern over speed of change. • Potential logistics issues with outsourcing.
• Concern over quality control and possible damage to brand image. • Local, long term partners would be lost. • New CEO’s lack of clear brand strategy for proposed new products. • Union issues- threatened by outsourcing, not consulted earlier on, etc. • New CEO’s plan to bring in new people (Cecil, Pat) will make long term employees feel threatened and insecure.
3. Does your group think the proposed strategy is a good strategic move for Lakeland Wonders? If yes, why? If not, why not?
We think that the proposed strategy is a good move for the following reasons: • Increased growth potential, increased profits- enabling the company to grow in line with targets set by board. • Expansion into growing market-mid non-electric market only segment predicted for double digit growth. • Ensures the company remains competitive over the long term.
• Cost effective. • New staff, new ideas and fresh growth- overall improvement for the company.
However there are also some negatives: • The overall planning is needs to be effective and complete otherwise it could be damaging to the company. • CEO’s push to force through the changes is causing divisions within the company. • Potential loss of the core quality of the company (traditional, made in USA, etc.) • Risk alienating current customers.
University/College: University of Arkansas System
Type of paper: Thesis/Dissertation Chapter
Date: 15 February 2017
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