Waste management corporations has been successful in the pass, however now faces a high level of uncertainty in regards to future profits due to the social-culture environment of the company consumers. Waste management is currently facing a critical moment for both their internal and external environment, and their next business decision could either result in the company failing to remain a major competitor in their industry or using the shareholder’s shift as an opportunity to restore their company operations.
First and foremost, besides their current issue, Waste management corporations have excelled in a few key areas of their business. They have done a great job in finding a niche in the market that they can capitalize on, waste disposal. They have also ...view middle of the document...
Waste Management has been dominating their market for so long that management missed critical timing of trends in the environments. The cause of Waste Management’s internal environment issues arose from the culture and decentralized management. They overlooked the consumer’s preference for a friendly means of handling waste. Moving forwards from this issue, Waste Management can now fix this issue by implementing a consistent environmental scanning program, which will take surveys of their costumers to get a better understanding of needs. The consistent environmental scanning will improve human relations for the firm, which will prevent future cases of missing trends in the environment. The company should also change from a decentralized management style to an organizational structure to create a more united operational management. I recommended a bureaucratic organization structure, which would help ensure that managers know their role in the company, how much say they have when it comes to particular matters, and who to speak to when they have any issues concerning the company.
I can conclude that yes, Waste Management is at a crossroad. However, I believe that they can improve and learn from their situation, and further set themselves apart from competitors in the market. Waste Management is now aware that consumers are pushing for sustainability, and that will cause the business to change its business approach towards this issue. Using this new knowledge, Waste Management should attempt to adapt to this shift by having a stronger involvement in the sustainability movement. Waste Management should enter a partnership with a recycling company to help the company recycle as much as they can from their waste. This approach will help Waste Management clear up space in their landfills, satisfy stakeholders in their desire for sustainability, be recognized as a socially responsible firm, and profit by recyclables.