Submitted by: Submitted by kcrossle
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Words: 1022
Pages: 5
Category: Business and Industry
Date Submitted: 04/27/2013 04:09 PM
MGMT 3303
17 April 2013
DuPont
DuPont also known as E. I. du Pont de Nemours and Company was founded by Eleuthere Irenee du Pont in 1802 as a gunpowder mill in Wilmington Delaware. Today DuPont makes a wide variety of valued products for different areas such as agriculture, building and construction, automobiles, chemicals, electronics, energy, food and beverage, healthcare, mining, plastics, safety and protection, rail, packaging and printing, marine, and government and public sector. ( Corp, DuPont, 2013) As DuPont begins its third century of technical, social, and scientific achievements it serves its customers everyday offering “better things for better living”. DuPont is a global contender in many trades all around the world.
Now I am CEO of DuPont and the world financial crisis has begun. I have setup a contingency plans for worst case scenarios with all the heads of the divisions. I have had to cut 6,500 employees, salaried and professional employees have been asked to voluntarily take unpaid time off and last cut another 2,000 jobs. The only place that wasn’t touched was the research and development budget which remained at 1.4 billion per year. My goal is to restore DuPont’s competiveness, prestige, and performance among the other 19 peer companies.
There are many different aspects of the company that need to be considered when trying to turn it around from financial trouble. Some aspects to look at are making sure your employees are involved and understand what is going on, preserving the cash, exploring new markets, and promoting new innovations. This company has been around for over two centuries and has done this by inventing new products and improving existing products which have helped it persevere.
This is not the time to try to reconsider what the company is about. DuPont has a strong core already established.
Mission:
Sustainable Growth: Increasing shareholder and societal value while reducing our environmental footprint. (Inc,...