Here is the document.Case 2 The Wallace Group

Laurence J. Stybel

Frances rampar, President of Rampar Associates, drummed her fingers on the desk. Scattered before her were her notes. She had to put the pieces together in order to make an effective sales presentation to Harold Wallace.
Hal Wallace was the President of The Wallace Group. He had asked Rampar to conduct a series of interviews with some key Wallace Group employees, in preparation for a possible consulting assignment for Rampar Associates.
During the past three days, Rampar had been talking with some of these key people and had received background material about the company. The problem was not in finding the problem. The problem was that there were too many problems!
Background on The Wallace Group
The Wallace Group, Inc., is a diversified company dealing in the manufacture and development of technical products and systems (see 
Exhibit 1
). The company currently consists of three operational groups and a corporate staff. The three groups include Electronics, Plastics, and Chemicals, each operating under the direction of a Group Vice President (see 
Exhibits 2

3
, and 
4
). The company generates $70 million in sales as a manufacturer of plastics, chemical products, and electronic components and systems. Principal sales are to large contractors in governmental and automotive markets. With respect to sales volume, Plastics and Chemicals are approximately equal in size, and both of them together equal the size of the Electronics Group.

Exhibit 1

An Excerpt from the Annual Report
To the Shareholders:
This past year was one of definite accomplishment for The Wallace Group, although with some admitted soft spots. This is a period of consolidation, of strengthening our internal capacity for future growth and development. Presently, we are in the process of creating a strong management team to meet the challenges we will set for the future.
Despite our failure to achieve some objectives, we turned a profit of $3,521,000 before taxes, which was a growth over the previous year’s earnings. And we have declared a dividend for the fifth consecutive year, albeit one that is less than the year before. However, the retention of earnings is imperative if we are to lay a firm foundation for future accomplishment.
Currently, The Wallace Group has achieved a level of stability. We have a firm foothold in our current markets, and we could elect to simply enact strong internal controls and maximize our profits. However, this would not be a growth strategy. Instead, we have chosen to adopt a more aggressive posture for the future, to reach out into new markets wherever possible and to institute the controls necessary to move forward in a planned and orderly fashion.
The Electronics Group performed well this past year and is engaged in two major programs under Defense Department contracts. These are developmental programs that provide us with the opportunity for ongoing sales upon testing of the final product. Both invol




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