JWI505, Business Communication
Dr. Verona Kennedy
June 15, 2014
Summary As the newly hired CEO of XYZ Global Financial Service Firm, my obligation is to identify past strategies and key processes resulting in the negative investments crisis. To establish a new strategy, new incentives, ethical behavior, and trust to XYZ Global Financial Service Firm stakeholder and company. I am obligated to implement and establish integrity as the foremost value in the company.
Effective communication As the CEO, the effective method of communication I expect to adopt through written communications would include email and letters, schedule interviews, phone interviews, and groups which would provide me a bird’s eye view of present performance, and would allow me to precisely evaluate the company’s crisis at hand.
Leadership Strategies My objective is to develop a sound financial position that minimizes the casualties of the negative investment by: reviewing previous strategies, initiate new strategies, and find key people to move the company from a negative impact. These key people would promote the company image positively by establishing credibility and trustworthiness with the stakeholders and public. As a CEO, I would initiate new objectives, align key processes that would transform information, material, and knowledge among the specific groups. To do this, I must diagnose and match strategies to the situation, secure early wins, build my network apply by applying candor, and transparency is one of the key methods to implement a strategies or action (JWMI 505: Crisis Communications). To understand previous strategies, identify the strength, weakness, and opportunity for new investments, and threats from competitors or within XYZ Global Financial Service firm (Watkins, 2003). Look for key people who are decision makers, identify where the power comes from and the impact from that source (Watkins, 2003). Talk to those who made the recent decision and who exerted the influence at each stage of the past investments (Watkins, 2003). Secondly, identifying the culture of the company is essential, making sure each department shared values, encourage, or reward each other for good behaviors. Take a look at the belief system of the company, groups, and key leaders. (Welch, 2005). As a result, I should see a clear conclusion of the value shared so I can develop an action plan that would define clear direction and strategies to proceed forward with XYZ Global Financial Services Firm (Watkins, 2003). Establish small wins to build credibility in the company (Welch, 2005). My credibility would address energy and persuaded the leader’s that things are going to change (Munter, 2014). The channel I would use for communication is a structured set of interviews and group meetings. The structured interviews should deliver perceptions of opportunities and problems about the past and present investments (JWMI 505: Choose the Right Channel). Group meetings will be approach with candor and on hands discussion, creating an open forum for any ideas, input, or solution. As the result of email, letters, and meetings I should recognize principal leaders, new approach, valuable tools, and progressive steps to move towards the goal of sound investments strategy for the present and future of XYZ Global Financial Service Firm (Munter, 2014)
Convey these strategies Prior to conveying new strategies, I must examine the interaction among each of the departments and how they deliver the information to each other. Reveal the information I have obtained to key leaders and groups encourage all to participate in the discussion of any issue that requires attention openly or privately. With this structured meeting, I would be able to identify moral issues (if any); frontline services how they respond and who display leadership (JWMI 510: Leading in the first 90 days). My goal is to acquire information of past and future