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The senior management committee for Euroland Foods has to make some hard decisions relating to the firm’s capital budget and the structure and what to spend the money on as far as capital requests. The senior management committee has been approached with a number of compelling projects to encourage the forward progress of the corporation.
The case study did not outline any of the vision or the mission for the corporation as to what the short and long term goals are for the firm. The vision and mission of the company need to be well thought out and agreed upon by the board of directors and the senior management committee. With a vision and mission the senior management committee can begin to put together a capital budgeting plan and a strategic process for project selecting. Throughout the case it is very apparent that all of the managers are asked to champion and stand behind certain projects and this is great from one aspect but on the other hand it provides division immediately amongst all of the decision makers. It appears from the biographies of the senior management team that they all have internal projects that are important to them and visions for the corporation as a whole but none of them seem to align.
Corporate Vision and Direction:
I have developed a strategy for Euroland Foods as a foundation to begin making the capital project selections and hopefully apply some rhyme and reason to the grouping of projects selected at the end of this case study analysis. The corporation is in need of a long term strategic vision. The company needs to be making decisions more than one and two years out to help shape where the corporation wants to go in the next five years. The corporation, once they have shifted their mentality to the long term focus, they will be able to lay the foundation for future success.
1. The initial projects chosen should be focused around the current customer base – improving...
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