Running head: ASSIGNMENT 1 ADMN 232
Assignment 1 ADMN 232 Administrative Principles
As Executive Vice President and Chief Financial Officer of Potash Corporation of Saskatchewan, the world’s largest producer of potash, Wayne Brownlee has endured more turbulent financial volatility with a calm and confident ease than many in his position would be capable of.
One of the largest challenges of his position as a top manager in the organization is making things happen. He achieves this by increasing profitability through leadership (interpersonal role, leading function) and delegation (decisional resource allocator role, organizing function) to control and utilize the strengths of his entire financial…show more content…
PotashCorp has many primary and secondary stakeholders that have their voices heard as part of the company’s sustainability commitments. The primary group, which includes their customers, investors, and community leaders, are surveyed each year with a report of the results going to the board of directors. The secondary group includes the media and critics of commercial fertilizers in modern agriculture, many of whom are concerned about environmental and safety impacts. These stakeholders also comprise much of the specific environment. Great communication between Mr. Brownlee and the Corporate Relations department with the critics, customers, suppliers, and regulatory bodies are essential for success.
In knowing the market and their competition, PotashCorp has positioned itself for the exponential growth in world food demand by reinvesting in their own company. Competitors’ desires for a new greenfield mine project are a big gamble. It would cost more than $2.8 billion dollars plus infrastructure costs in a tight credit market and take five to seven years to build. By proceeding with multi-billion dollar expansions of their existing facilities, Mr. Brownlee demonstrates conceptual skills and the planning function, enabling his company to meet this growth in the most cost-effective and efficient manner possible.
PotashCorp and its employees follow a strong formal business culture and they both share