Team Collapse at RWH
19240502776220Managing Organizational Change
66.601.061 Online
63.671 Section 062
00Managing Organizational Change
66.601.061 Online
63.671 Section 062
13716004347845Submitted by:Blake BamfordMaria Siena Banaag
Yu Cheung
Submitted to: Professor Diane VacarraDue date: October 5, 2014
00Submitted by:Blake BamfordMaria Siena Banaag
Yu Cheung
Submitted to: Professor Diane VacarraDue date: October 5, 2014
3810005976620190502219325Case Analysis
Team Collapse at Richard, Wood, Hulme, LLP
00Case Analysis
Team Collapse at Richard, Wood, Hulme, LLP EXECUTIVE SUMMARY
SITUATION ANALYSIS
Established in 1998 by Chris Richard, Gemma Wood and Lauren Hulme, Richard, Wood and Hulme LLP (“RWH”) is a financial services firm offering audit and taxation services to its clients with a mission of delivering excellent service and improving clients’ internal controls. Being a “team player” is an essential trait of a RHW employee because client audits are completed by teams. The client fee is flat, so the more efficiently and effectively the team members’ work, the higher the margins the firm realizes. The firm does not tolerate those with poor teamwork behaviors as evidenced by the fact that RWH has terminated only a handful of employees since the firm’s inception, and those terminations were mainly because those individuals were not able to work effectively in teams.
The case is set in the Fall of 2008 at the height of the North American financial crisis and at a time when some of RWH’s clients are filing for bankruptcy and others are demanding reductions in audit fees. During this difficult economic time, RWH is opting to maintain existing staffing levels and as a result is losing money. However, RWH views an event scheduled to occur in 2011, the conversion of Canadian financial reporting standards from GAAP to IFRS, as an attractive business opportunity and wants to maintain its current staffing level to take advantage of this future opportunity.
66.601.061 Online
63.671 Section 062
00Managing Organizational Change
66.601.061 Online
63.671 Section 062
13716004347845Submitted by:Blake BamfordMaria Siena Banaag
Yu Cheung
Submitted to: Professor Diane VacarraDue date: October 5, 2014
00Submitted by:Blake BamfordMaria Siena Banaag
Yu Cheung
Submitted to: Professor Diane VacarraDue date: October 5, 2014
3810005976620190502219325Case Analysis
Team Collapse at Richard, Wood, Hulme, LLP
00Case Analysis
Team Collapse at Richard, Wood, Hulme, LLP EXECUTIVE SUMMARY
SITUATION ANALYSIS
Established in 1998 by Chris Richard, Gemma Wood and Lauren Hulme, Richard, Wood and Hulme LLP (“RWH”) is a financial services firm offering audit and taxation services to its clients with a mission of delivering excellent service and improving clients’ internal controls. Being a “team player” is an essential trait of a RHW employee because client audits are completed by teams. The client fee is flat, so the more efficiently and effectively the team members’ work, the higher the margins the firm realizes. The firm does not tolerate those with poor teamwork behaviors as evidenced by the fact that RWH has terminated only a handful of employees since the firm’s inception, and those terminations were mainly because those individuals were not able to work effectively in teams.
The case is set in the Fall of 2008 at the height of the North American financial crisis and at a time when some of RWH’s clients are filing for bankruptcy and others are demanding reductions in audit fees. During this difficult economic time, RWH is opting to maintain existing staffing levels and as a result is losing money. However, RWH views an event scheduled to occur in 2011, the conversion of Canadian financial reporting standards from GAAP to IFRS, as an attractive business opportunity and wants to maintain its current staffing level to take advantage of this future opportunity.
References: Kim, W Chan, and Renee Mauborgne. Fair Process: Managing in the Knowledge Economy. N.p.: Harvard Business Review, n.d. Pdf. Goold, Michael, and Andrew Campbell. Do You Have a Well-Designed Organization. N.p.: Harvard Business Review, n.d. Pdf. Garvin, David, and Roberto, Michael. What You Don’t Know About Making Decisions. N.p.: Harvard Business Review, n.d. Pdf