Terra Nova Consulting Essay

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Written Case Assignment #2 1. Terra Nova is currently at a turning point in the company’s timeline. Until recently, the company has been successful and growing and a leader in its industry. The financial downturns the company is currently experiencing are due to the complacency that started in top management and, in order to fix this situation, there must be multiple changes made. There is a large social disconnect between the younger and more senior members of the firm. Although Terra Nova has a hierarchical structure based on skill and demonstrated results, in recent years the senior partners received more support from the company leaders and benefits while the junior professionals feel undervalued and unappreciated. Because of…show more content…
4. There is a lack of strong leadership at Terra Nova. One key tenant of Terra Nova was that the employees were intended to have 100% ownership of the firm with share ownership not restricted to partners and no majority shareholder leadership dictation. The founders felt that the firm would not survive without the employee ownership aspect; employee ownership creates an emotional and financial attachment to the job and provides a sense of community. Unfortunately, as the finances at Terra Nova declines, junior employees declined to purchase ownership in the company and the senior partners refused to increase their shares which reduced cash flow within Terra Nova. 5. If O’Reilly does not initiate change, there are several consequences that could possibly occur. If Terra Nova continues its slow financial decline, the company will find it difficult to recruit top young talent. Young employees are demanding more and more from their companies; money alone is no longer enough to ensure effective recruitment. If Terra Nova cannot attract employees successfully, universities and other recruitment centers and programs will remove Terra Nova from their list of recommended firms. Initiating change is not an immediate process and careful steps need to be taken in order to ensure that change occurs effectively and that change is sustained. 6. In order to ensure change,

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