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Irving Mills Case

Irving Mills is a strong participant in the printcloth market, with a management team recognized for its acumen and a market position that puts it among the leaders in the industry. The company has approached a bank regarding funds for a leveraged buyout (LBO); the bank is now considering the request. In order to assist in preparing an answer, the PRISM analysis structure will be used.

Irving Mills management is recognized as being among the "best in the business," and it is characterized by long-term participation by its managers and owners. Bill Stonewall has been with the company for 50 years and is the grandson of Irving's founder. Stonewall's ties are based on emotion as well as a sense of loyalty to the company, but his age suggests that he is likely to retire shortly after the LBO in order to enjoy the fruits of his life's work.

Goodman, who has been with the company for more than 30 years, is another descendant of the Irving's founder, and represents a strong family tie to the organization. He has a strong educational background, and can be expected to remain with the company for a reasonable amount of time following the LBO since he will be the vice-chairman of the company.

However, the management reins will pass to Harrison in terms of the day to day operations of the firm. Harrison has no family ties to the organization and has only been with the company for four years. While she can be expected to perform well given that she has worked with Goodman and Stonewall in the past, she does not have the close ties to workers that the other managers do, and their departure or phasing out could bring up difficulties for Harrison. Specifically, there may be more pressure for the workers to unionize once Stonewall, in particular, leaves the organization. Companies such as Irving are often able to forestall union intrusion because of close relationships between managers and workers; Stonewall and Goodman have those re...

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Irving Mills Case. (1969, December 31). In LotsofEssays.com. Retrieved 01:33, March 29, 2024, from https://www.lotsofessays.com/viewpaper/1696046.html