Strategic Management D3 Essay Example | Topics and Well Written Essays - 1000 words

Strategic Management D3 - rise ExampleThe New Recipe case study showed how the soaked reacted to the payoffs of Martha Steward Wall channel scandal and restructured its operations afterwards to change the firms public image and operating procedures. The firm expanded its outbound logistics setup by adding other major retailers other than K-Mart to solidity its distribution network. The ac guilds operations were reorganized as far as its human management function. Martha Steward leaders role was reduced, she stepped down as CEO of the company and took a more passive role within the organization Along with a new management team the company implemented a incorporated strategy that divided its business into four divisions publishing, broadcasting, merchandising and internet.An internal audit an advisory activity designed to add value and improve an organizations operations (Vt, 2008). Among the key areas included in the internal audit are risk management, control and corporate go vernance. At Martha Steward Living Omnimedia the company had to nark the risk associated with the brand image of the company which required actions to achieve collateral damage. The company suffered heavy pecuniary losses for a couple of years after Marthas conviction. Between 2002 and 2006 the firm was not profitable, with 2005 existence the worst year due to a $76 million corporate loss. The results had a detrimental effect in the value of the companys stock value.Corporate governance structure of a company specifies the distribution of rights and responsibilities among the different participants such(prenominal) as the board, management and shareholders (Encycogov, 2008). The corporate governance of the company changed to separate the index number and interest of the founder from the companys objectives. Prior to Marthas conviction the fact that she played such an instrumental role in the entire operations