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The NorLand Limited Firms Challenges and Actions

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The NorLand Limited Firms Challenges and Actions

Executive Summary

This report identifies challenges faced by NorLand Limited, such as siloed business units, lack of collaboration, misaligned incentives, and the need for succession planning. The report recommends increasing transparency and communication, investing in technology, and developing a succession plan to address these issues. An action plan outlines immediate, short-term, and long-term actions assigned to specific departments or individuals, with estimated timelines and cost impacts. The report concludes that the recommended course of action and implementation plan will position NorLand for long-term success by improving communication and collaboration and creating a more cohesive and efficient organization.

Introduction

The case focuses on NorLand Limited, a Canadian firm operating in various industries, to reach $500 million in revenue and $50 million in NOI by 2025. The stakeholders include the CEO, CFO, SVPs, business unit managers, and employees, all with different concerns. The CEO and CFO aim to retain value and scale the company while creating a cohesive organization. Business unit managers are concerned with the value they receive from Shared Services. Employees are concerned with rewards and compensation. The stakes for stakeholders include the companys financial success, potential career growth, and financial gain.

The Problem or Opportunity

The main challenge for Norland Limited is internal and organizational. As the company expands, leaders see that current practices may hinder growth. They aim to create a more cohesive organization and continue growing by changing the operating model, structure, and rewards. The goal is to reach $500 million in revenue and $50 million in net operating income while preserving business value.

Problem Analysis

The companys internal strengths and weaknesses (SWOT analysis)

Strengths Weaknesses Opportunities Threats
The company has a diversified portfolio of businesses across different segments, reducing the risk of dependence on a single market. The need for more cohesion among business units and the overall organization leads to an isolated approach. Growing demand for infrastructure and industrial services, especially in developing markets. Competition from established players in the market.
A strong leadership team with a clear vision and focus on meeting the two-pronged 500-50-25 goal. Inadequate incentives for employees to work together towards a common goal. Potential to acquire larger businesses and increase revenue and NOI. Changes in government regulations and policies could impact the business.
Proven track record of acquiring, integrating, and growing businesses. There needs to be good information sharing and collaboration between business units. Increasing focus on sustainability and social responsibility could open up new business opportunities. Economic downturns and recessions could lead to reduced demand for services.
Effective, shared services support business units, improving efficiency and reducing costs. Difficulties in scaling the organization as it grows could lead to operational inefficiencies. Potential to establish new partnerships and collaborations with industry players and stakeholders. Technological advancements could disrupt the industry and make some services redundant.

Fishbone

Fishbone

Revenue Trend Analysis

Revenue Trend Analysis

TFE = Traxxon Foundation Equipment ** ML Air = ML Air Produits de Forage *** HSS = High Standard Scaffolding

Identification and Evaluation of Alternatives with Cost Included

Alternative 1: Realign Organizational Structure.

Costs: Hiring consultants, employee training and development, and potential employee-related expenses.

 Alternative 2: Revamp Incentive Plans

Costs: Hiring consultants, employee training, potential bonuses, and reward costs.

 Alternative 3: Implement Shared Services Effectively.

Costs: Hiring consultants, employee training, shared services budget, and staffing.

 Alternative 4: Increase Employee Engagement and Collaboration.

Costs: Investment in training and development, potential severance costs.
Pros:

  • Address the issue of insular business units, increase collaboration, and create a more cohesive organization working together towards achieving the 500-50-25 goal.
 Pros:

  • Address discrepancy between effort and reward, provide more motivation for maximizing overall earnings and encourage collaboration among business units.
 Pros:

  • Ensure all business units receive value from services, increase transparency and accountability, and reduce the potential for questioning service value.
 Pros:

  • Create a positive and cohesive company culture, increase employee satisfaction, break down silos, and promote collaboration.
Cons:

  • Challenging implementation, time-consuming and resource-intensive, potential employee resistance.
 Cons:

  • Complex execution, time-consuming and resource-intensive, possible employee opposition.
 Cons:

  • May face challenges, require time and resources, and face employee resistance.
 Cons:

  • May encounter obstacles, demand significant time and resources, and meet with opposition from employees.

Recommended Course of Action

Recommendations: Explanation and Rationale
Recommendation 1: Increase Transparency and Communication NorLand Limited should focus on increasing transparency and communication across all levels of the organization. This can include regular town hall meetings with employees, more frequent updates from senior leadership on company performance and goals, and a transparent budgeting process that includes input from all business units. By increasing transparency and communication, NorLand can build trust and increase collaboration among employees and business units.
Recommendation 2: Invest in Technology NorLand should invest in technology to improve communication, collaboration, and data sharing across business units. This can include implementing an enterprise resource planning (ERP) system to better manage finances and operations, as well as project management tools to help track progress and identify areas for improvement. By investing in technology, NorLand can improve efficiency and reduce silos between business units.
Recommendation 3: Develop a Succession NorLand should develop a succession plan to ensure continuity in leadership and operations. This can include identifying and developing future leaders, creating a leadership development program, and implementing a plan for transitioning leadership in the event of unexpected departures. By developing a succession plan, Norland can ensure that the company is well-positioned for long-term success and growth.

Action Plan & Implementation

Action Who Will Implement It? When? Cost Impact
Immediate Actions
Develop a plan for transparency and communication Executive Leadership Within two weeks Minimal
Conduct an audit of current technology IT Department Within one month Dependent on audit results
Short Term Actions
Implement a transparency and communication plan Executive Leadership Within three months Minimal
Develop and implement a plan for new technology systems IT Department Within six months Dependent on system and training needs
Long Terms Actions
Monitor and evaluate the effectiveness of transparency and communication initiatives. Executive Leadership Ongoing Minimal
Ensure ongoing investment in technology and assess and update systems IT Department Ongoing Dependent on investment needs and upgrades

Conclusion

NorLand Limited faced challenges such as siloed business units, lack of collaboration, misaligned incentives, and the need for succession planning. Alternatives recommended were increasing transparency and communication, investing in technology, and developing a succession plan. The organizational structure needed realignment, and incentive plans needed to be revamped to align with NorLands goals. An action plan was developed with immediate, short-term, and long-term actions assigned to specific departments or individuals, including estimated timelines and cost impacts. The recommendations will position NorLand for long-term success and create a more efficient organization to achieve its goals.

Do you need this or any other assignment done for you from scratch?
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NB: All your data is kept safe from the public.

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