Words View Problem Scenario B To Learn More About Regulatory

800 Wordsviewproblem Scenario Bto Learn More About Regulatory Challeng

During the preparation for your meeting, you discover that UWEAR and PALEDENIM do not currently have any policies in place to provide whistleblower protection as outlined in the Sarbanes-Oxley (SOX) Act, Section 806. Because UWEAR is a publicly-traded company, as will be PALEDENIM, you recommend that they immediately implement a policy to address this issue.

You schedule a meeting with the two executives responsible for policy decisions in human resources (HR): Sharon Reese, the HR manager for UWEAR; and Marcia Henry, the HR manager for PALEDENIM. “Thanks for meeting with me today, Sharon and Marcia,” you say as you shake their hands across the table in the small conference room. “As you both may be aware, we have many challenges that are facing us during this transition period of the merger.” Watching their body language, you see that they are wondering what you want from them. As a strategic manager for a consulting firm, you have been in this situation before. You are an outsider who is trying to help a company and their employees change, and you have found that nobody likes change.

“Because we haven’t had the opportunity to work together up to this point, I was hoping that you could share with me some of your philosophy about management and tell me about your management style,” you say. “How do you like to manage?”

“I guess I’ll start,” says Sharon. “I’ve been an HR manager for over 17 years with UWEAR and have seen this company grow and change quite a bit in that time. I took this job right out of college after getting my B.A. in human resources management. I feel that I am successful because I make things happen. If something needs to be done and needs to be done quickly, people always come to me. I have a very intuitive management style, and I get a real feel for people and situations. I inherently know what needs to happen to get the job done. Also, I don’t think it’s necessary to create huge project plans with long implementation timelines. If you want something done, I’ll get it done for you. People who invest all of their time in planning and strategizing take too long to get things accomplished. Time is wasted, and the team loses momentum.”

“Thanks for sharing that information, Sharon,” you say. “I get a feeling that you are someone who can really make things happen, and I can appreciate that. Marcia, how about you?”

Marcia starts, “I have been the HR manager for PALEDENIM for the past 3 years. I have about 20 years of experience in the HR field and have an MBA. I feel that I’m an effective and trusted manager. I seldom interact with my vice president because she trusts me to do the job that I was hired to do. I don’t get much glory, but I don’t get much grief. My goal is to bring my projects in on time and at or below budget. Sometimes it is necessary to request additional resources to meet timelines if plans don’t go off as scheduled, but I am not afraid to speak up and make that request. My projects are planned and laid out prior to implementation. I partner with my team to make sure they are successful and, in turn, I am successful.”

Answer the following in a paper of 2–3 pages: What do you feel are the strengths and weaknesses of each manager’s approach to management? How will you tailor your approach to each manager based on your knowledge of each of them? What do you feel will be the challenges faced by each manager in formulating and implementing a policy within a relatively short timeline? How do you need to advise each manager to ensure that they formulate and implement the policy?

Paper For Above instruction

The management styles and approaches of Sharon Reese and Marcia Henry demonstrate contrasting strengths and weaknesses, which have significant implications for the successful formulation and implementation of new organizational policies, particularly regarding whistleblower protection policies aligned with Sarbanes-Oxley's Section 806. Analyzing these approaches allows for tailored strategies to guide each manager effectively.

Strengths and Weaknesses of Sharon Reese’s Management Approach

Sharon Reese’s management approach is characterized by an intuitive, action-oriented style that emphasizes quick results and responsiveness. Her ability to make decisions rapidly and her instinctive understanding of people and situations are notable strengths. Such a style enables her to address urgent issues swiftly, fostering an environment where immediate action is prioritized over detailed planning. This can be particularly advantageous in crisis situations or when swift policy changes are necessary, such as quickly implementing whistleblower protections in response to regulatory compliance requirements.

However, the weaknesses in Sharon’s approach include a potential lack of formalized procedures and comprehensive planning. Her preference for avoiding extensive project plans and timelines might hinder the development of thorough policies that require careful consideration, stakeholder input, and compliance checks. This could lead to gaps in policy coverage or oversight issues, especially when dealing with regulations like SOX, which demand meticulous implementation and documentation.

Strengths and Weaknesses of Marcia Henry’s Management Approach

Marcia Henry’s managed and structured approach is marked by careful planning, resource management, and a focus on on-time, on-budget project delivery. Her ability to plan projects in advance and partner with her team ensures that tasks are completed systematically, emphasizing stability and predictability. These strengths are beneficial when designing policies that require thorough review, stakeholder engagement, and formal approval processes, necessary for compliance with legal standards like those mandated by SOX.

Nevertheless, her reliance on meticulous planning might slow down the policy development process, posing challenges in meeting short timelines. Her emphasis on resource allocation and process adherence might also make her resistant to rapid changes, requiring strategic coaching to balance thoroughness with urgency in urgent policy rollouts.

Personalized Strategies for Each Manager

To support Sharon’s quick action-oriented style, it is essential to streamline the policy development process, focusing on core compliance elements required by SOX while minimizing bureaucratic delays. Providing clear, concise guidelines and templates can facilitate rapid drafting and approval, leveraging her instinct to "make things happen." Regular check-ins and providing prioritized action lists can help her manage the process efficiently without sacrificing completeness.

For Marcia, the strategy involves engaging her detailed planning skills early but emphasizing the importance of flexibility and speed. Presenting a clear timeline with phased milestones that include brief review points can help her adapt her structured process to meet immediate needs. Encouraging her to delegate some tasks and utilize existing resources can accelerate policy implementation without undermining her systematic approach.

Challenges in Policy Formulation and Implementation

Each manager faces distinct challenges within a tight timeline. Sharon’s challenge lies in ensuring her swift decisions align with legal and regulatory standards, avoiding oversight in her rapid execution style. She must balance speed with compliance, which requires precise guidance and oversight from compliance specialists.

Marcia’s challenge involves managing her cautious, meticulous approach to ensure timely delivery without sacrificing the depth of review necessary for legal compliance. Her emphasis on detailed planning may hinder rapid adaptation, necessitating targeted coaching on risk management and quick decision-making.

Advising Strategies for Successful Policy Formation and Rollout

To ensure effective policy formulation, each manager requires tailored advice. Sharon should be provided with clear, standardized policy templates aligned with SOX requirements, emphasizing essential elements to expedite policy drafting and approval. Regular interaction with compliance experts can ensure her rapid decisions are compliant and comprehensive.

Marcia should be encouraged to incorporate flexibility within her planning, setting prioritized milestones that facilitate swift progress. Training or workshops on rapid policy development and risk assessment can help her adapt her detailed approach to meet urgent deadlines. Both managers would benefit from ongoing support, emphasizing collaboration, continuous communication, and clear accountability to ensure a successful policy rollout within the short timeline.

Conclusion

Understanding the unique strengths and weaknesses of Sharon Reese’s and Marcia Henry’s management styles enables the development of tailored strategies that optimize their capabilities while addressing potential gaps. With specific guidance, both can contribute effectively to the rapid development and implementation of critical policies like whistleblower protections, ensuring organizational compliance with SOX and fostering a culture of integrity and ethical conduct.

References

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