Reference no: EM133100373

MT302-2: Apply personality theory within a business environment.

Scenario (fictional): The George family has been in the custom sign or skincare products company (your choice) for over 50 years. They have always had a family member as president of (your company name of choice). As the current president steps down, the founders' remaining family members are not inclined or are unable to take over the business and have called you in as their consultant to perform the executive search. They know this will be a challenge based on several changes that may need to take place in the very near future to successfully continue their business.

The industry is beginning to change. The competition is beginning to change over to using blockchain ledger technology that shares data within a network in sequential order with a timestamp - like a database, but encrypted. The competition has also been increasingly automating their production line. Now with the increasing competition, the company you are consulting for realizes that without changing to these technologies, the business may not survive. This will mean laying off some personnel, and this will be the first time in its history that this company has had to contend with major layoffs; in the past layoffs were not necessary since growth outpaced the need to lay off workers. With no family member currently to lead the company, the company must do an intensive search for an individual not only suited to their industry with the right expertise and education, but also with the right personality to lead the company into a new era.

This company culture has remained the same from its inception, with a reputation for reliability within the industry. Most employees pass their jobs on to someone else residing in the local community by referring them for the job; so, all employees really feel like one extended family. They expect little change now. Although their market has been predominantly in the United States (U.S.), with little or no diversity in the workforce, they are increasingly getting inquiries from Asian countries since competitors' prices have increased substantially. Currently there are 300 employees in this small Western U.S. city, though the salaries and benefits have always been on par with the industry salaries elsewhere in the country. Their belief in the customer first, taking the time to get things done in a precise manner, and honesty have been hallmarks of this family business.

In light of the possible future demands and needs of this company, and as this company's consultant hired to do the executive search, address the checklist items.

Checklist:

• Identify the industry and the name of the company (your choice) based on your choice of either a custom sign or skincare products company, and identify the products the company provides.
• Summarize the problem and the company's culture as presented in the scenario. Describe any changes that might be necessary and that will pertain to the type of personality the new president will need to have.
• Explain the traits and personality factors that should be considered when selecting the next president using the reading from Chapter 5. Include the Big Five personality traits, Holland's typology, and at least one other personality theory in your response 
• Explain how the personality you described previously of the new president would benefit the employees and the success of the company going forward.