Catanese and Vulcan Case Solution And Analysis, HBR Case Study Solution & Analysis of Harvard Case Studies

Catanese and Vulcan Case Study Solution

Introduction

Catanese and Vulcan (C&V) is a certified public accountant firm in the Johnstown, Pennsylvania. It was founded in 1949 in New York City. It was a privately held joint-stock company with 24 employees along with annual revenues of $1.6 million. Since, the company was growing at as low rate, and it has grown to 26 employees with only revenues of $2 million. That was an inappropriate rate of growth for a public accountant firm. On the other hand, things were getting complex in the market due to the increasing demands of the clients in the market.

Furthermore, the demands of the clients were increasing round the clock. Meanwhile, the clients had started to point the weaknesses in the accounting and auditing servicing indicating audits as irrelevant, and not timely, and fruitless for their business. However, that dramatic change was observed due to the increased demands of clients to be provided diversified services to leverage their operational efficiency, and utilize the reports and findings in favor of the company. Since, the competition in the market was real-time competition rather than traditional. Consequently, it led to more complex marketplace for the firms to best manage their relationships with the clients, and ensure the good retention as well.

On the other hand, it can be determined that the clients focused on the one-stop shop for the company, and expected the financial services, financial analysis including ratios analysis, and provision of the legal and consulting services as well. However, it is important to know that how company managed to attain the huge profit in given complex situations in the market. Meanwhile, it is also crucial to understand the strategies developed and adopted by the company to approach at growth that was never been assumed before by any certified public accountant firm.

Analysis

Core competencies

The Catanese focused on the specialization of the employees. Because, the increasing competition in the market had emphasized over the best relationship with the clients in the industry in terms of services provided to them. However, the nature of accounting firm was to ensure the proper audit of the company including the accounting books, and reports to the board of directors or the managers. However, no other service was expected from the accounting firm.

But, the dynamics in the market had completely changed due to the increased competition that has fueled and had increased the demands of the customers round the clock. However, the company has been using the most best of its core competencies such as the employees as the base for the organization. Because, it has started the specialization program in the company that offered the opportunity to the employees to receive the training regarding their area, field or the focus so that company could provide dynamic, and specialized services.

Leadership Style

Similarly, the core competency was also the leadership style that company adopted in the organization that completely changed the whole firm from top to bottom. Indeed, it is not necessary that company should provide all services to the specific client based the defined agreement, or on trial. Since, the leadership of the company had been changed by the Catanese, and made structural reforms in the organization and governance as well. Meanwhile, the new leadership changes brought the whole organization together to benefit from each other’s experience, and knowledge management could also be used, but in overall situation was well designed, and sharing information became one of the common things in organization that improved the performance of the company, and provided learning environment that had never been provided.

Improved operations

On the other hand, it can be determined that the leadership style behind the dramatic change in the organization was followed by structural reforms and knowledge management. However, in last four years the same company has been operating but the growth rate was very disappointing in terms of industry growth, and huge demands in the market. So, the company brought the attention of the organization towards operational efficiencies as working smarter rather than hard. Similarly, there was no cost accounting system that could correct pricing methods to develop the costs associated with the services provided to the clients. Therefore, upon many improvements in the system the company was able to increase the billable hours, and decrease the write downs....................

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