BRIEF OF THE CASE

In this fictional case was Jennifer Gaston, founder and CEO of mid-sized luxury jewellery company Aquamarine, managing a couple of key questions had cut the setting recently. In just six months, Gaston had brought in a new COO and was completed over several months looking for a CFO. Although they had almost completed the transformation of its management team, they still needed to thoroughly check references to the CFO candidates and extend a formal offer. A lot has been driving on these positions and not been easy despite the help of an executive search firm, the setting for her. 

Gaston started Aquamarine in 1995, after matriculating. Her company grew modestly for the first three years until she hit upon Aquamarine’s trademark aesthetic: thick intertwining cables of silver and yellow gold studded with a range of precious stones.

OBJECTIVE

To evaluate the hiring process of Aquamarine

Choose the best candidate for optimum growth of the company

Problem Area

To evaluate Gaston's hiring of Olivia DE Carlo as COO and president against best practices. How could Gaston's process have been improved?

How should she choose between Chang and Philips to be CFO? How would you decide between "experiences" verses "young and hungry?"

To respond to Albert Johnson’s email and handle the situation

EVALUATION OF CASE

SWOT ANALYSIS OF OLIVIA DE’CARLO:

STRENGTHS:

Has expertise and proper work experience in the required field of accessories.

Her professional results were impressive – she had quickly moved up ranks in the larger company and oversaw the management of operations, sales, and marketing as well as the development of Isla Stark’s online store

She is result oriented and will achieve all goals in time.

WEAKNESS:

She has the “go-it-alone” attitude and does not like to give credit to her team.

She sounds too over-confident about her capabilities.

OPPOURTUNITIES:

She has a high growth potential in Aquamarine as she had to face new challenges.

To evaluate her skills in managing Aquamarine.

THREATS:

Hiring of Olivia DE Carlo could also lead to decline in the output of other employees as she doesn’t give credit to team work and takes the credit all alone.

This could increase the attrition rate as employees will no longer be happy in the organisation if they are not given credit for their hardwork.

SWOT ANALYSIS OF ‘WARREN CHANG’

STRENGTHS:

7 years of experience being an CFO

He had been the CFO during a 4 year period when the company’s sales doubled.

He had also orchestrated its successful IPO(shares jumped to 12 percent during its first day of trading)

WEAKNESS:

No faith in the existing team of aquamarine and demanded his controller to be brought to aquamarine)

OPPOURTUNITIES:

Can be a great asset to aquamarine and lead to the growth of the company as he has tremendous knowledge and expertise in this field.

THREATS:

His age factor could be a drawback as he will not be able to work at the same speed as younger blood.

SWOT ANALYSIS OF STEVEN PHILIPS

STRENGTHS:

Has proper knowledge and has a similar work experience of handling an troubled luxury apparel company and had re-established the company’s profitability in eight months

6 year experience as a senior investment professional in a $2 billion fund.

Promoted on accelerated schedule (3 times in 5 years).

WEAKNESSES:

Never worked at the post of CFO

Hungry for growth

OPPOURTUNITIES:

Has aggressive nature to growth as he is young and enthusiastic this will lead to organisational growth as well.

THREATS:

He is in his mid 30’s and has aggressive nature towards growth and would not be loyal to the organisation if he finds a better growth perspective.

CONVERSION WITH ALBERT JOHNSON

Convince Albert Johnson that he is perfect on his place as a controller and he would be given chance for growth once the company is out of crisis.

Try to make him understand the importance of external recruitment at that point of time as new talent is required and people with strong potential are being searched for the job.

BEST ALTERNATIVE

Recruit Warren Chang as he has more experience and for kick-starting the organisations profitability it would be the best alternative.

Warren Chang won’t quit the organisation and would give his best to the growth due to his age factor switching jobs won’t be easy for him. The company can take advantage of this factor.