NORTHWEST SECURITY SERVICES CASE HELP
Introduction
Northwest Security Services was an independent security service providing company across the United States of America which is founded by Ernest Wilson in 1946. The company provides various security services which included access regulations, impositions, video reconnaissance issues solutions, and fire to 70,000 of their residential and commercial customers. The company was a leading company that provided qualitative services to its customers and the company’s business developed with the great leap since then along with the transition in the management among the preceding generation of the owner of the company. The company was the best representative of the security services provider that makes sure the qualitative security to their customers, so that is why the company progressed and build a huge market regarding the security.
However, the company’s business faces various critical issues regarding the policies and future strategies of the management of the business and its family. The most important problem or issue for the management of the business regarding the underperformance of some family members, diversification of assets, Including new family members into the company and the most important issue is the adoption of the external advisory board for non-family members which the progress graph of the company faces decline.
Problem Statement
The NSS was the leading company in providing various security to their customers across the United States of America but due to certain issues faced by the company which includes the future strategies and the policies of the owner’s family and the business management. The fundamental issue that the company facing due do which the business growth decline include the underperformance of some family members, bringing new families into the business, Adaptation of the external advisory board, and the assets divergence.
Question No: 01
Although the establishment of the NSS advisory board, Bob is a positive move that will enhance the business strategies and the operations of the business progressively. There are various important roles included in the advisory board which include the financial strategies and marketing while the segregation of the roles will improve the performance and the efficiency of the company and through which the business will be strengthened. Furthermore, the exceptional decision that Bob took is the inclusion of the female members into the NSS advisor board that will resolve the issues of the company regarding the understanding of the female side concerns regarding the services which are provided by the company to their customers. While this inclusion of the female members will play an important role in the assistance while it motivates the female members of the company to join and understand the operations that are conducted by the company.
Improvements
Although the establishment of the Advisory board is an exceptional step taken by Bob that help the company to perform its operations positively or productively while the comprehensive code of conduct and the absence of the regulation create various uncertainties in the business because the comprehensive code of conduct and the regulations play an important role in which provide guidance to the management, advisory team and the employees of the company.
However, the company is diversifying its operations into the other regions’ markets while the company expands physically as well but the company does have not a proper legal advisory system and organized management due to which the company is unable to sustain and performed its operations. It is because the legal advisory system and management system help the company to target their market and perform their operations under a control system.
Question No: 02
The board of directors of the company should set dividends in order to avoid conflicts of interest because the company’s board of directors is responsible for the determination of the dividend policies and declaration of dividends. While Bob and Rex should set the dividends but it is very important to be concerned with their financial advisors, and the Board of advisory and they should approach the family members as well so it will be productive for the company without any conflict.
Some important methods that play a vital role to make the dividend decisions include;
- It is important to design the policy that helps the family members to aware of the aims and objectives, rules of governance, and involvement of the family in the company’s business.
- There should be a strategic plan that helps the family members to understand the long-term and short-term goals, ways to create market value, and the conduct of the operations.
- Getting suggestions from the financial advisory as well as from the advisory board.
While the non-employee family members must not be included in the consultation process. It is because they are not the shareholders of the business and their involvement will likely distort the connection between the business and the family which might be resistant to the business’s stability….
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