Magnum Corporation By June 1983, Magnum Corporation had grown into a $ 150 million per year 5 corporation with an international reputation for manufacturing low-cost, high-quality rubber components....

Magnum Corporation 1
Magnum Corporation
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Case overview:
Magnum corporations is the company which has grown into a $150 million per year
corporation with a strong focus on the low cost manufacturing and high quality rubber
components, the company has vast product line focusing on different product lines which are
sold across the different department stores, hardware stores, and automotive part distributors.
The company is adopting the same organization structure from last fifteen years. The
company is planning to incorporate specialty products in the market which it focuses on attaining
minimum of 20% of profit same as that of the existing product lines.
For providing the same profit margin from the specialty product, the company needs to
have a strong focus on developing a strong project plan along with restructuring its current
organizational structure.
In today’s competitive world, it is very important to have proper project management so
as to facilitate proper working and successful implementation of the project. The project
management needs to focus on deciding different aspects so as to effectively and efficiently
utilize different resources so as to attain the main objective and the goal of the project.
Same profit margin of Specialty product as the existing product:
For achieving the same profitability, the organization needs to have a strong focus on the
proper execution of the project as well redesigning its organization structure.
Effective execution of the project:
The project management team’s effectiveness came into question when the project
deliverables were not adequate and the team was not able to analyze the project effectively. The
team was not able to implement the project properly. The main aim of the project management
team is to coordinate with the other members and complete the project on the scheduled time.
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The project management team also focuses on the project scope which will help to minimize the
following area of risks:
The management uses proactive approach to minimize the risks associated with the
project.
 Minimize risk in respect of technological innovation, budget, schedule and
coordination.
 The adoption of a grid technology and service orientation is relatively new
field, so its application can have significant impact on project.
 Analyzing / deciding the methodology that has to be followed at the initial
stage which will focus on performance appraisal of the organization.
The project management team has to focus on analyzing different risks that are associated
with the project and is able to bring out results at the estimated cost and time.
When the project is not being implemented properly, in that case the project manager
needs to take different perspectives to transform the project by implementing different aspects of
the project and transform it as per the need and the goals of the project.
It is important to consider the perspectives of the management in the project, good
management is required so as to bring the order and stability so as to formulate different plans
and objectives, designing the procedure and the structure of the project, having a strict
monitoring and taking the appropriate and corrective measures so as to attain the desired goals
and objectives. Leadership focuses on recognizing and articulating different needs so as to alter
the directions of the projects, motivating the team so as to achieve the set goals and objectives of
the project.
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So as to execute the project effectively it is very important for the project team to
consider all the perspective of the project, it is also very important for the team to effectively
monitor the project.
Managing the project with a focus on leadership and managing the team effectively helps
in the proper execution of the project. In this competitive world to sustain in the competitive
environment, it is very important for organizations to work in teams; teams generally are
empowered to make better decisions as compared to the individuals. Teams have to be relied on
by the organization as they help in improving the quality, productivity, customer service, and the
experience of work for their employees. But despite of the importance of team, some of the self-
driven teams lack performance.
Team effort is the collective effort of a number of people who have joined hands to carry
out a particular task. If during any phase of time, anything goes wrong with anyone of them, the
whole task will be affected. Without the work or suggestion of any member of the team, the task
cannot be accomplished completely. Similarly, if the person is evaluated individually, in some
cases it is good and in some cases it is bad. An individual will be thinking only in one direction
and thus will be able to see only single perspective of the task. But if the same task is collectively
done, there may be numerous ideas to be think and then act upon. One can define ground rules as
those statements of guidelines and values which are basically designed in order to keep the team
members in ethical behavior. These rules help the team members to behave in a proper way with
the other team mates, how to coordinate with them, the principle of cooperation and some other
improvements in their behavior. For a team, the ground rules are usually set up by the team
leader and some of the representatives of the team officials.
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It is important to have strong leaders in the project as the leaders help in transforming and
taking a better control of the project, so as to have proper implementation and execution of the
project.
Organization structure:
An organization decides upon the its organization structure so as to improve its profits
and market share. The structure of organization is designed keeping into focus the industry in
which it operates and the level of customer involvement. An industry which is highly affected by
the external environmental changes and competition needs to follow decentralized approach so
as to have better understanding of the market and decentralized structure facilitates productivity,
communication and decision making. For making the specialty product more worthwhile and
profitable the company needs to restructure and redesign its organizational structure.
The company’s current organization structure is centralized which will not give the
organization proper ease to incorporate the specialty products and gain profits. For this the...