Harvard Case - SAS Real Estate: To Fire or Not to Fire?
"SAS Real Estate: To Fire or Not to Fire?" Harvard business case study is written by Zunaira Saqib, Sara Mashhadi, Khan Rafia Danish, Memoona Khalid. It deals with the challenges in the field of General Management. The case study is 5 page(s) long and it was first published on : Jan 19, 2015
At Fern Fort University, we recommend that SAS Real Estate retain its current sales team and implement a comprehensive change management strategy to address the performance issues. This strategy will involve a combination of training, performance management, incentive programs, and leadership development initiatives. This approach will foster a culture of accountability, performance improvement, and growth within the sales team, ultimately leading to improved sales results and a more sustainable business model.
2. Background
SAS Real Estate is a real estate brokerage operating in a competitive market. The company faces challenges with its sales team, specifically low performance and high turnover. The case study highlights the dilemma faced by the CEO, Sarah, who must decide whether to fire the existing team or implement a change management strategy.
The main protagonists are Sarah, the CEO, and the sales team, whose performance is the subject of concern. The case study explores the complexities of decision-making in a challenging business environment, balancing the need for performance with the ethical considerations of employee retention.
3. Analysis of the Case Study
The case study can be analyzed using the following frameworks:
Strategic Analysis:
- SWOT Analysis: SAS Real Estate possesses strengths like strong brand recognition and a good reputation. However, weaknesses include low sales team performance and high turnover. Opportunities lie in market expansion and leveraging technology for better customer engagement. Threats include increasing competition and changing market dynamics.
- Porter's Five Forces: The real estate market is characterized by high competition, easy entry, and the power of buyers. SAS Real Estate needs to differentiate itself to gain a competitive advantage.
- Competitive Strategy: SAS Real Estate needs to develop a clear competitive strategy focusing on differentiation, cost leadership, or a hybrid approach. This strategy should be aligned with the company's overall business goals and market position.
Financial Analysis:
- Performance Evaluation: The case study highlights the need for a comprehensive performance evaluation system to track sales team performance, identify areas for improvement, and measure the effectiveness of change management initiatives.
- Resource Allocation: SAS Real Estate needs to analyze the allocation of resources, including financial resources, to support the sales team and ensure efficient operations.
Human Resource Management:
- Organizational Culture: The current organizational culture within the sales team needs to be assessed. This includes identifying factors contributing to low performance and high turnover.
- Leadership Styles: The leadership style of the sales manager needs to be evaluated. Effective leadership is crucial for motivating and guiding the sales team.
- Talent Management: SAS Real Estate needs to implement a robust talent management strategy, including recruitment, training, development, and performance management.
Marketing Analysis:
- Marketing Strategy: SAS Real Estate needs to develop a comprehensive marketing strategy to attract new clients and retain existing ones. This should include digital marketing, social media engagement, and targeted advertising.
Operations Analysis:
- Operations Strategy: SAS Real Estate needs to optimize its operational processes to improve efficiency and effectiveness. This includes streamlining workflows, leveraging technology, and improving communication.
4. Recommendations
Retain the Sales Team: Firing the entire sales team would be a drastic and potentially damaging decision. It would disrupt the company's operations, damage morale, and create negative publicity. Retaining the team allows SAS Real Estate to invest in their development and leverage their existing knowledge and experience.
Implement a Comprehensive Change Management Strategy: This strategy should address the following:
- Training: Provide comprehensive training programs to enhance the sales team's skills, knowledge, and understanding of the real estate market, sales techniques, and company policies.
- Performance Management: Implement a clear and transparent performance management system with regular performance reviews, feedback, and coaching. This system should be aligned with the company's overall goals and objectives.
- Incentive Programs: Develop attractive incentive programs to motivate the sales team and reward high performance. These programs should be based on clear and achievable targets and provide a tangible benefit for exceeding expectations.
- Leadership Development: Provide leadership development programs for the sales manager and other key personnel to enhance their leadership skills, communication, and team management abilities.
Invest in Technology and Analytics: Leverage technology and analytics to improve sales processes, track performance, and gain insights into customer behavior. This includes using CRM software, data analysis tools, and digital marketing platforms.
Foster a Positive and Supportive Work Environment: Create a positive and supportive work environment where employees feel valued, respected, and motivated. This includes promoting open communication, providing opportunities for growth, and recognizing individual contributions.
5. Basis of Recommendations
These recommendations are based on the following considerations:
- Core Competencies and Consistency with Mission: Retaining the sales team aligns with the company's mission to provide exceptional real estate services by leveraging the existing expertise and experience within the team.
- External Customers and Internal Clients: The recommendations focus on improving customer satisfaction and employee morale, both crucial for the company's long-term success.
- Competitors: By investing in training, technology, and a positive work environment, SAS Real Estate can differentiate itself from competitors and gain a competitive advantage.
- Attractiveness ' Quantitative Measures: While quantifying the return on investment for change management is challenging, the potential benefits include increased sales, reduced turnover, and improved employee morale, all contributing to a more sustainable and profitable business.
6. Conclusion
SAS Real Estate faces a significant challenge with its sales team's performance. However, firing the team is not the solution. Instead, the company should implement a comprehensive change management strategy that focuses on training, performance management, incentive programs, leadership development, and technology investment. This approach will foster a culture of accountability, performance improvement, and growth, ultimately leading to improved sales results and a more sustainable business model.
7. Discussion
Other alternatives not selected include:
- Hiring a New Sales Team: This would be a costly and time-consuming process, and there is no guarantee that a new team would perform better than the existing one.
- Outsourcing Sales: This could be a viable option, but it would require careful consideration of costs, quality control, and the potential impact on customer relationships.
Risks and Key Assumptions:
- Implementation Challenges: Implementing the change management strategy requires careful planning, effective communication, and strong leadership.
- Resistance to Change: Some employees may resist change, requiring effective communication and training to overcome this resistance.
- Financial Investment: Implementing the strategy requires a significant financial investment, which needs to be carefully considered and justified.
8. Next Steps
- Develop a detailed change management plan: This plan should outline the specific initiatives, timelines, and resources required for implementation.
- Communicate the plan to the sales team: Open and transparent communication is crucial to gain buy-in from the team.
- Implement training programs: Start with initial training programs to address the identified skill gaps and provide the team with the necessary tools and knowledge.
- Monitor and evaluate progress: Regularly monitor the progress of the change management strategy and make adjustments as needed.
By implementing these recommendations, SAS Real Estate can address its sales team's performance issues, create a more sustainable business model, and position itself for future growth and success.
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Case Description
A real estate company in a highly competitive market in Pakistan was the recent victim of employee theft. A fraudulent bank transaction had occurred, which risked the firm's smooth functioning and future operations, as well as customer confidence. The company had suspicions about an employee who might have been involved in the theft, but the CEO was facing the dilemma of whether to fire him or not. The employee was the only one who could operate the company's complex financial software. If the CEO decided to replace the employee based on his suspicion, he would be facing major replacement and training costs, and also causing a delay in the company's upcoming mega project. However, if he did not fire him, it would mean that the company was tolerant of such acts, which could lead to future corruption.
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