Alan Baird, the founding figure of Stitch it, a primarily mall based service provider which officers alteration services to the private and public sector, was now the company’s CEO. In 1990, Baird sold Stitch it to a business group after sales and income had begun to slow. After selling his company and having stayed on as CEO, he oversaw the growth of the company and overall expansion form the initial 3 stores under Baird’s direct leadership, to today’s 84 stores throughout Canada and the United States. Now having the opportunity to buy back his business venture, his daughter, Jennifer Baird has expressed her interest I becoming an executive in the Stitch It Group.
Analysis of situation
Although Jennifer Baird has graduated from The University of Western Ontario with a bachelor’s degree in the administrative and commercial studies program in 2000, she lacks real-time experience to go into the Stitch It Group and lead as an executive. She would have a difficult time attempting to adjust to the fast paced environment in addition to having the support from her peers or the respect from her employees without having earned her “stripes.” To address the concern, Alain Baird proposed a plan of attack to expose his daughter to the much needed experience by completing a 10-year plan. The plan called for her to assume the role of a local store moving up to managing operations to various stores and then rotating thru positions in business operations, accounting department, marketing and human resources before heading into an executive position
The Business plan on Home Depot Stores Billion Customers
Executive Summary The Home Depot, Inc. is not only the largest home improvement retailer in the world, with 913 Home Depot (R) stores and 15 Expo Design Center (R) stores, it is also the third largest retailer in the United States. Home Depots focus on delivering low prices with customer service has done well and has been one of the fastest growing retailers over the past 23 years. Home Depot has ...
Identification and evaluation of alternatives
Alternative #1: Jennifer Baird can continue with her education and her goal to be a top executive by taking courses and earning a degree in business management. Advantage: She would take this education into a tentative 10-year program her father will develop and expose her to real-life situations with the day-to-day operations of the group. Disadvantage: This option might deter her father from purchasing the group in the manner that it would be up to an additional four years of schooling before she can accompany and assist him the business operations.
Alternative #2: Alan Baird takes his daughter, Jennifer Baird, under his wing and shows her “the ropes” after completing her education at The University of Western Ontario and assigns her to and extended internship program after he accepts the offer to buy back his previous business group. Advantage: Alan Baird fulfills his dream to operate a family business; in addition he assures himself his daughter obtains the necessary exposure to the successes and failure of running the business. Disadvantage: Within time, Alan Baird might not have the physical stamina to run the family business and keep up with his daughter’s training.
Decision, course of action, implementation
Alternative #2 is the best course of action available to Alan Baird. By taking his daughter under his leadership, he can share first-hand experience and knowledge to overcome and continue in the groups’ success and he can have the family business he always sought after.
