Question

The Pilston family has been in the cookware or camping business (your choice) for over 60 years. They have always had a family member as president of the (your company name of choice). As the current president steps down, the founders’ remaining family members are not inclined or are unable to take over the business and have called you in as their consultant to perform the executive search. They know this will be a challenge based on several changes that may need to take place in the very near future in order to successfully continue their business.

The industry is beginning to change. The competition is beginning to change over to using Blockchain ledger technology that shares data within a network in sequential order with a timestamp — like a database, but encrypted. They also have been increasingly automating their production line. Now with the increasing competition, they realize that without changing to these technologies, the business may not survive. This will mean laying off some personnel, and this will be the first time in its history that this company has had to contend with major layoffs; in the past layoffs were not necessary since growth outpaced the need to lay off workers. With no family member currently to lead the company, the company must do an intensive search for an individual suited not only to their industry with the right expertise and education, but the right personality to lead the company into a new era.

This company has a culture that has remained the same from its inception with a reputation for reliability within the industry. Most employees pass their jobs on to someone else residing in the local community by referring them for the job; so all employees really feel like one extended family. They expect little change now. Although their market has been predominantly in the United States (U.S.), with little or no diversity in the workforce, they are increasingly getting inquiries from Asian countries since competitors’ prices have increased substantially. Currently, there are 300 employees in this small Western U.S. city though the salaries and benefits have always been on par with the industry salaries elsewhere in the country. Their belief in the customer first, taking the time to get things done in a precise manner, and honesty have been hallmarks of this family business.

In light of the possible future demands and needs of this company, and as this company’s hired consultant to do the executive search, address the checklist items.

Checklist:

• Identify the industry and name of the company (your choice) based on your choice of either a cookware or camping equipment company, and identify the products the company provides.

• Summarize the problem, and the company’s culture as presented in the scenario. Describe any changes that might be necessary and that will pertain to the type of personality the new president will need to have.

• Explain the traits and personality factors that should be considered when selecting the next president.

• Explain how the personality you described previously of the new president would benefit the employees and the success of the company going forward.

Answer 1

Q1. Identify the industry and name of the company (your choice) based on your choice of either a cookware or camping equipment company, and identify the products the company provides.

Ans -

• Industry - Cookware
• Company Name - Lékué
• Products - Cookware, Kitchenware, Bakeware

Q2. Summarize the problem and the company’s culture as presented in the scenario.

Ans -

Problems faced by the company

• No successor to the current president from the Pilston family
• Use of Blockchain ledger technology by competitors
• Automation of production line by competition
• Laying off of existing employees
• Business is demanding global expansion
• Older employees not willing to change

Companies Culture

• Reliability for its employees and customers
• Salaries and benefits have always been on par with the industry salaries elsewhere in the country
• The belief that customer comes first
• Taking the time to get things done in a precise manner
• Honesty

Q3. Describe any changes that might be necessary and that will pertain to the type of personality the new president will need to have.

Ans - Changes that will be necessary and will pertain to the personality the new president will need to have are

• Knowledge and adaption to changing technology both in software and hardware
• Being sensitive to market change and taking any steps that are necessary to accept and adapt to the change
• Knowledge for global expansion
• Firing the employees who are not right for the business right now

Q4. Explain the traits and personality factors that should be considered when selecting the next president.

Ans - Traits and personality factors that should be considered when selecting the next president

• Experience of transitioning a family run business to a global entity
• Knowledge of changing markets, technology and processes
• Ability to make the right and not the good decisions and standing by those decisions
• Ability to inspire, walk the talk and lead from the front

Q5. Explain how the personality you described previously of the new president would benefit the employees and the success of the company going forward.

Ans - The new president's personality would benefit the employees and the success of the company going forward in the following ways

• The new president will be able to chart a global growth path for the company owing to his experience of transitioning family businesses to global entities
• His knowledge of changing markets, technology and processes will help in getting more global customer, implementing the latest technologies and in this process coming at par or exceeding the competitors
• His experience as an inspirational leader will help in inspiring the current employees to embrace change and foray into the changing world with strong resolve and ambitions