Mission Statement Essay
The mission statement of WRSX’s Group is to help their clients developing their strength and brand images via creative advertisement and marketing activities. Also, they focus on building their business strategy to keep the cost in line with industry averages as well as growth in market share, profitability and returns for shareholders. Their mission statement is quite interesting and attractive for global clients. The company delivery their mission by using industry sector and business unit specialisations, which mainly contributes the independence of business units that will also contributes on their services to global clients. Furthermore, in order to make their mission accomplishable, WRSX had expanded their offices to different cities are Paris, New York, London and Singapore.
Therefore, keep this mission statement will be a smart choice for them in order to keep the organization maintain and increase the market share. Since the WRSX Group attracts the global clients, they can expand their range of products and services to potential locations and new industry sectors. On the other hand, they can still focusing on taking care of their existing customers. Also, this mission statement has been keeping them succeed than the others, which made their reputation is no longer an advertising agency but becomes more into marketing communications group in these sectors: automotive and transport, health and pharmaceuticals, telecoms, personal care, beauty and fragrances, public sector and charities. Structure and Key Management Personnel
The strategy of WRSX is putting a heavy demand on their management abilities. Therefore, they should try matrix structure because it costs less but still using the human resources effectively, where leaders need to know how to attract, retain and develop the top performers, in order to meet production and business situation more volatile. Besides, matrix structure can help leaders control their employees easier with day-to-day report to product manager, where it contains their flow of skills and information of running or managing product development processes. The matrix structure works horizontally where each manager has different functional disciplines, yet still need to report to the head of department, who authority vertically downwards. Therefore, the company will have multiple command also control structure.
Moreover, the company should also invest on Strategic Leadership Capability since its performance is below the industry average. It will provide this department with more effective resources and abilities in leading capability as well as human resource management. The following benefits of investing on Strategic Leadership Capability are guiding the organization through complexity vision as well as lead and unite workgroups across divisions to reach the achievement of their mission statement. Also, it will be able to manage of both internal and external risks in order to retain high quality personnel. Lastly, WRSX should address the bottleneck in the Procurement and Supplier Management. The causes of this problem are the way of managing production buying and the way of building relationships with suppliers, which led WRSX in failing to use their Group buying power that is buying media for clients. Also, WRSX had failed in applying economies of scale to their group that is the most effective used in strategic management and financial management, which focusing on increase profit also labour productivity, the cost of using the strategic decisions and executive producer as well as competitive environment.