Harvard Case - Malkinson Printing Company: The Evolution of a Family Business
"Malkinson Printing Company: The Evolution of a Family Business" Harvard business case study is written by Stuart Rosenberg. It deals with the challenges in the field of Organizational Behavior. The case study is 14 page(s) long and it was first published on : May 1, 2015
At Fern Fort University, we recommend that Malkinson Printing Company adopt a multi-pronged approach to address the challenges of generational transition and growth. This strategy involves a combination of organizational restructuring, leadership development, and cultural transformation to foster a dynamic and future-oriented environment. By embracing these changes, Malkinson Printing can successfully navigate the complexities of family business succession and position itself for sustainable growth in the evolving printing industry.
2. Background
Malkinson Printing Company is a family-owned business with a rich history spanning several generations. The company has experienced significant success, primarily driven by its strong customer relationships and commitment to quality. However, the current leadership faces the challenge of transitioning the company to the next generation while navigating a changing market landscape. The case study highlights the following key issues:
- Leadership Succession: The current CEO, David Malkinson, is nearing retirement and faces the challenge of identifying and preparing a suitable successor from within the family.
- Organizational Culture: The company's traditional, family-oriented culture, while valuable, may hinder innovation and adaptability in a rapidly evolving industry.
- Growth Strategy: Malkinson Printing needs to develop a clear growth strategy to remain competitive and expand its market share.
- Technological Adoption: The company needs to invest in new technologies to stay ahead of the competition and meet the changing demands of customers.
- Employee Engagement: The company needs to address employee concerns regarding career development and potential for advancement, particularly for non-family members.
3. Analysis of the Case Study
To analyze the case, we can apply the Organizational Change Framework to understand the factors driving change, the potential impact of change on the organization, and the steps required for successful implementation.
Driving Forces:
- Industry Dynamics: The printing industry is undergoing rapid technological advancements, with digital printing and online solutions increasingly challenging traditional offset printing.
- Succession Planning: The impending retirement of the CEO necessitates a smooth transition of leadership to ensure continuity and stability.
- Growth Ambitions: Malkinson Printing needs to identify new growth opportunities to remain competitive and expand its market share.
Potential Impacts:
- Organizational Structure: The company may need to restructure to accommodate a more diverse workforce and empower non-family members.
- Leadership Styles: The new leadership will need to adopt a more collaborative and innovative approach to engage employees and drive growth.
- Organizational Culture: The company culture needs to evolve to embrace change, innovation, and a more meritocratic approach to decision-making.
Implementation Steps:
- Assess Current Situation: Conduct a thorough assessment of the company's current state, including its strengths, weaknesses, opportunities, and threats (SWOT analysis).
- Develop a Vision: Define a clear vision for the future of Malkinson Printing, outlining its strategic goals and desired organizational culture.
- Communicate Effectively: Communicate the vision and the need for change openly and transparently to all employees, addressing concerns and building buy-in.
- Implement Changes Gradually: Introduce changes in a phased and strategic manner, allowing employees to adapt and adjust to the new environment.
- Monitor Progress: Regularly monitor the progress of the change process, making adjustments as needed to ensure successful implementation.
4. Recommendations
1. Leadership Development and Succession Planning:
- Formal Leadership Development Program: Implement a comprehensive leadership development program for potential successors, focusing on strategic thinking, change management, and building relationships.
- Mentorship Program: Pair potential successors with experienced leaders from within and outside the family to provide guidance and support.
- Succession Planning Committee: Establish a succession planning committee composed of family members, senior management, and external advisors to oversee the process.
2. Organizational Restructuring and Culture Transformation:
- Flattened Organizational Structure: Consider flattening the organizational structure to empower employees and foster collaboration across departments.
- Cross-Functional Teams: Create cross-functional teams to address specific challenges and leverage diverse perspectives.
- Performance-Based Culture: Shift from a family-centric culture to a meritocratic one, where performance and contribution are recognized and rewarded.
- Employee Engagement Initiatives: Implement employee engagement initiatives to foster a sense of ownership, purpose, and belonging.
3. Growth Strategy and Technological Adoption:
- Market Research: Conduct thorough market research to identify new growth opportunities and emerging trends in the printing industry.
- Digital Transformation: Invest in digital printing technologies and online solutions to expand the company's service offerings and reach new customers.
- Strategic Partnerships: Explore strategic partnerships with other businesses to expand market reach and leverage complementary capabilities.
4. Talent Management and Employee Engagement:
- Hiring and Recruitment: Develop a robust hiring and recruitment process to attract and retain top talent, regardless of family ties.
- Career Development Programs: Implement career development programs to provide employees with opportunities for growth and advancement.
- Compensation and Benefits: Review and adjust compensation and benefits packages to ensure they are competitive and attract and retain skilled employees.
5. Basis of Recommendations
These recommendations are grounded in the following principles:
- Core Competencies and Mission: The recommendations align with Malkinson Printing's core competencies in quality printing and customer service while enabling the company to adapt to the evolving industry landscape.
- External Customers and Internal Clients: The recommendations prioritize customer satisfaction by offering innovative solutions and creating a positive work environment for employees.
- Competitors: The recommendations aim to position Malkinson Printing as a leader in the industry by embracing technological advancements and developing a competitive growth strategy.
- Attractiveness: The recommendations are expected to enhance the company's profitability and long-term sustainability by increasing efficiency, expanding market share, and attracting and retaining top talent.
6. Conclusion
Malkinson Printing Company stands at a crossroads, facing the challenge of transitioning to a new era while maintaining its legacy of success. By embracing a multi-pronged approach that focuses on leadership development, organizational restructuring, and cultural transformation, the company can navigate these challenges and position itself for sustainable growth. The recommendations outlined in this case study solution provide a roadmap for Malkinson Printing to evolve into a modern, dynamic, and successful organization that thrives in the 21st century.
7. Discussion
Alternative Options:
- Maintaining the Status Quo: This option carries significant risks, as the company may fall behind its competitors and struggle to attract and retain talent in a changing market.
- Selling the Business: This option could provide immediate financial gains but would result in the loss of the family legacy and potentially lead to job losses.
Risks and Key Assumptions:
- Resistance to Change: Implementing significant changes can face resistance from employees, particularly those accustomed to the traditional family-oriented culture.
- Financial Investment: Investing in new technologies and implementing organizational changes requires significant financial resources.
- Success of Leadership Development: The success of the leadership development program depends on the commitment and participation of potential successors.
8. Next Steps
- Develop a Detailed Implementation Plan: Create a detailed implementation plan outlining specific actions, timelines, and responsibilities for each recommendation.
- Communicate the Vision: Clearly communicate the vision for the future of Malkinson Printing to all employees, addressing concerns and building buy-in.
- Pilot Programs: Implement pilot programs to test and refine new initiatives before rolling them out company-wide.
- Monitor Progress and Make Adjustments: Regularly monitor the progress of the change process and make adjustments as needed to ensure successful implementation.
By taking these steps, Malkinson Printing can successfully navigate the challenges of generational transition and growth, ensuring a bright future for the company and its employees.
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Case Description
Matt Decker, the former president of Malkinson Printing Company, a family-owned private printing company in Milwaukee, Wisconsin, needed to decide whether to return to the company after quitting more than two years earlier. Matt had been one of the three family members in the fourth generation of Malkinson Printing ownership, along with Brad Malkinson and Ron Malkinson. Matt's exit from Malkinson Printing came during a period when the business had begun to struggle for the first time in its history. The company had always been a successful one, growing with each of its previous generations of ownership, but the printing industry had changed dramatically by the beginning of the twenty-first century. The advent of computer graphics and desktop publishing placed companies like Malkinson at a competitive disadvantage and its owners faced the challenge of sustaining its market. The dynamics of the technological changes that were taking place dovetailed with a fracturing of the family dynamics at Malkinson Printing. Whereas their predecessors had generally agreed on company strategy, the three members of the fourth generation of Malkinson ownership did not get along. Matt had walked out when Brad secretly sold his stake in the business, which left Ron with a 75 percent share of the ownership. Matt was working as a salesman for another printing firm in October 2003 when Ron asked if he would come back. Matt had been critical to the success of Malkinson Printing Company, and Ron said he needed him to help save the business. This case is suitable for courses in family business management or for courses in small business management where family business issues are addressed. It can be especially useful as an introductory case or a second case on family business.
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