Friday, January 31, 2020

Whirlpool Leadership Approach Essay Example | Topics and Well Written Essays - 750 words

Whirlpool Leadership Approach - Essay Example attracting and retaining talent; the achievement of this target would help to improve the performance of the firm’s finance sector, which is a key part of the organization. In 2006, a strategic plan was introduced for supporting the recruitment and development of talent across the organization, especially in the firm’s finance department; the specific plan was mainly based on the firm’s existing leadership approaches, as explained below. The leadership approach used for increasing the performance of Whirlpool, mostly through the improvement of the organization’s existing strategies for recruiting and retaining talent in the finance department, can be characterized as transformational since it is highly based on the participation of the employees in the successful implementation of the relevant plan (Stadtler, Schmitt, Klarner and Straub 45). The specific approach has been combined with the Six Sigma model, which has helped to focus on the organization’s weaknesses and to cover most severe organizational gaps. One of the most emergent organizational needs that the firm’s leader had to face was the lack of effective strategy for the development and the training of employees in finance department. The organization’s CFO decided to introduce a series of changes ‘focusing on building organizational capabilities, processes, and talent’ (Frigo, Rapp and Templin 30). However, the above strategy would be successful only if it was carefully planned and monitored. In order for the strategy’s success to be secured, the following practice was used: emphasis was given on three different areas, ‘technical capabilities, career development and leadership’ (Frigo, Rapp and Templin 30). Leadership has been considered as the most important part of the relevant project mostly because of the following issue: the successful update of the firm’s existing practices in regard to the recruitment, the development and the retention of talent has been depended, as

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