Jim Sharpe

JIM SHARPE

GROUP _ 9

Prudhvi ram 2014smf6663

Kaushal 2014SMF6691

Kunal 2014SMF6994

Konark 2014SMF6692

Introduction: 

Jim Sharp, president of Extrusion Technology, describes the first five years at the company he bought an aluminium extrusion. It begins with the first day that he presented to employees in 1987 and assured the continuity of the company. Over the next two years, his efforts to make the company profitable included spending cuts, decertifying union, and developing relationships with suppliers. Sharp has learned from mistakes in forecasting inventory of aluminium and capital equipment purchases a new product line, the market never developed. At the end of five years, Extrusion Technology was profitable and good for growth. 

Describe the activities you would suggest to the company taking into consideration the short and long term implications.

For any business to grow it is very important to have a set of goals and as essential it is to have a set of goals it is equally important to have separate them into phases and disintegrated them to have an understanding and a clear picture of what are the short term goals which will help further to achieve the long term goals. This time-phasing is essential so as to keep track of immediate improvements while evaluating progress towards eventual goals and targets and also to place focus on time sensitive aspects of the company’s structure and environment.

Now, we will focus on the short term and long-term goals and implications keeping Extrusion Technology Inc. in mind:

Short Term

• Company policies should be clearly defined and communicated properly to staff to avoid discrepancies.
• We would continuously have a good interaction level with the employees and would make employees feel comfortable and ensure continuous engagement with the mangers.
• Ensure the employees Job Security which will make them feel more comfortable and secure and thus their productivity would increase.
• Customer feedback will be taken seriously to understand their needs.
• We would always be ready to accept and learn from mistakes and also take special care to see that the mistakes are not repeated.
• A particular time would be dedicated to innovative and creative thinking.
• We would try and remove doubts and ambiguities about the roles and responsibilities of any employee in the company.
• Cutting expenses and improving procurement plan would be our initial focus

We would look to maintain quality and work at least margins initially

Long Term

The short-term goals mentioned above are the steps to achieve the long-term goals and implications of growth from an organization’s perspective. The following list mentioned below highlights on the growth plans in near and far future:

1. Maintaining profitability and growing onto customer’s expectations it becomes of utmost importance to a keep a quality check at all times, because it is the good quality standards that makes the companies land with loyal customers. Like for keeping a goal of acquiring an ISO-9000 certified took them around two of focus and inputs.

1. Having a completely sketched out growth plan for future keeping the resources and adaptability in mind. As mentioned in the case the growth could be of

• Acquiring a new plant with the objective to expand
• Expanding on the number of product lines like they have in the past also
• Constant check on the requirement and happiness quotient of their stakeholders

1. Creating work policies so as to maintain them from start to beginning and setting certain rules and keeping in perspective some values following which the long term goals will be achieved

1. Attracting and removing employees on the basis of their value addition to the company. For ex: Even experienced employees were asked to leave as they were involved in alcohol abuse and employees who needed jobs and were ready to add value to the organization even at a less compensation but it gave them work satisfaction.
3. Since the organization was growing and will be growing further in future with the vision to expand there should be introduction of various schemes for employee benefits which will enhance the performance of the employees and will help them be motivated.
5. Introduction of skill improvement efforts must be there like involving employees into various trainings so that they can also have a sense of self-upliftment in the organizations as well as society and can sense their even more important roles in the company thus increasing performance and productivity.

1. There should be a well-defined business strategy to deal with even more fierce competition in future and present.

In the longer run, Sharpe restructured the ailing acquisition and grew it from less than $4 million in revenues to $30 million.