Halifax Port Authority And The Seaport Farmers’ Market Case Study Solution
The Oldfield also aimed to develop an organization,which could ensure an effective implementation of HPA’s strategy on a continuous basis. Previously, the organization was regulated conventionally with functional departments, which included, “marketing, operations, finance, engineering,” etc. The employees reported directly to the top management. Therefore, she realized the necessity of modifying the organization’s structure to accomplish the objectives of the organization.The CEO had made certain changes in the organizational structure such as; the Vice President was made responsible for managing the “business line needs” instead of managing “technical needs”. Moreover, she also motivated her employees to use information technology, which would be very important in the implementation of the strategic business plan. Therefore, the CEO appoints the directors of human resource and information technology, who make the direct reporting to the CEO of the company. (halifax seaport framers market, 2016)
HPA's Performance and Issues
“Halifax seaport farmers market” was the part of “Halifax port authority’s revitalization Strategy. This strategy was framed to help the ports for tour trade. The strategy concentrated in the development of the “Port of Halifax”over an industrialized zone that relocated cargos to debark the tourist sites. Moreover, “HPA” had the advantage of “HSFM”, which could attract 10,000 of the domestic residents every month. But, in half of the year of its operation, “HSFM” suffered from the financial distress.
The market has incurred a large number of operating expense, which was unpaid to the company. The expenses included the rent payable and construction duties. These expenses had the negative impact on HPA’s financial performance, because it wasa part of “HSFM”. The higher debt and lower liquidity had created the poor performance. Moreover, the marketing operations was not performing up to the mark, and lacked the expertise to work efficiently in the organization.Additionally, the market had regulatory issues.The financial reporting standard followed by the company was very poor and inefficient,which in return affected the operations of “Halifax port authority. (projects for public space, 2018)
Decision Criteria and Recommendation
To resolve the issues discussed above; the management has 3 options.The first option is to give the right to the landlords to confiscate the lands if the tenants fail to pay their rents, but it would result in the negative image of “HPA”.The second option is to increase the credit line for the debtors with will soothe the repayment policy so that they can invest funds in other business avenues, but it would create the larger number of defaulters if the debtors are unable to pay their debts.The third option is that “HPA” itself will have to manage the whole issue for a time being, which will reduce the chance of the failure of the “City Market of Halifax Cooperative”.The other criteria that management can adopt to resolve these issues includes the strict credit policy for the borrowers. Moreover,the management can provide the secured loan, which is the loan associated with the collateral. The management should impose the strict regulatory policies, especially for the financial reporting and bookkeeping. By implementing these criteria the “HPA” can resolve the issues of the organization.........
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