"The Wallace Group": Case 2.

Individual Project Unit 1. A. What is the most important problem facing the Wallace Group? There are several problems facing the Wallace Group, but it seems the most crucial problem facing the group is two-fold; the lack of vision and direction from the CEO, Harold Wallace and improper management. a. His diversification program that resulted in the acquisition of the chemical and plastics divisions lacked forward looking vision. He simply required the companies to uphold a …

…the organization and its environment (Wheelen & Hunger, 2004, p. 8). The company must respond to changes to reduce negative impacts and position itself to take action, in order to utilize this theory. This allows for the company to fundamentally learn from its environment and lead to its own innovations in strategic management. References: Wheelen, T. L. & Hunger, J. D. (2004). Strategic management and business policy. 9th Edition. Pearson Education Inc., Upper Saddle River, NJ.