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Summative Assessment: Individual Report Essay Example

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Summative Assessment: Individual Report

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There is a certain point in business life, when old approaches, ideas, and directions can no longer manage or work for the business due to the chances taking place around the environment. It is during this time when business leaders and managers should decide to stubbornly overcome change and keep hold of the prevailing paradigm (Himsel 2004, p.The leadership and management approach applied in Kinky Boots Company poignantly illustrates this point. This true story focuses on one of the famous tradition shoemaking company in Britain, which for a long period manufactured man-made shoes (all works of art). However, the son who succeeds the company soon notices that the company is on bankruptcy brink and decides to implement new leadership and management approach to address this challenge (Stadtler & Probst 2010, p. Because of his father’s love and loyalty to his employees, he felt difficult to inform them that their product was no longer in demand, and was paying them out of his pocket. Now facing this catastrophic situation, Kinky Boots was about to collapse when a chance adviser presents the son with a unique and strange effective idea. Instead of producing the outdated men’s boots, the son decided that the company should start manufacturing high-heeled boots, which are strong enough for men to wear (Stadtler & Probst 2010, p. This approach was highly effective, because it enabled the company recover from its bankruptcy situation. The new products had high demand, hence maximizing the company’s profits.The leadership and management approach was also effective to the employees since the young owner was almost terminating the employees’ services. While doing so, a young female gives him a lecture. She advised him that, instead of walking around seeking for advices on what to do, he should come up with a new market “niche”. Perhaps this was something they (management) would have done before the company got into troubles (Lisanti & Paul 2007, p. The leadership and management thereafter came up with a new “niche”. They decided to start producing high-heeled boots for a certain group of customers of which their competitors would not meet its needs. This was more effective to the company for this group was large enough to maximize the company’s profits. This is because the new demand forced the company to start manufacturing high quality products, which they sold at higher prices hence generating

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preview essay on Summative Assessment: Individual Report
  • Pages: 8 (2000 words)
  • Document Type: Essay
  • Subject: Management
  • Level: Undergraduate
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