Recommendation of Ambercrombie & Fitch Essay Example | Topics and Well Written Essays - 500 words - 1

Recommendation of Ambercrombie & Fitch - Essay Example Due to the experience, the company will have a benchmark of success for what is achievable. CEO from outside will bring a new perspective and cutting-edge approach. It has been proven through research that outside CEOs with new ideas spend more resources on research and development, and their decisions shows commitment to innovation. Outside talent is necessary so as to breathe fresh life into the firm (Blumberg, et al. 2013). By going outside for a new CEO, the company will send a strong message to its entire workforce and the board that the company recognizes the importance of change, and is ready to invest in its future. A new CEO with new ideas isn’t burdened by the past and is able quickly make a big impact to the company. Hiring a new CEO from outside is what the company requires so as to reach the desired growth. Companies’ changes are ever constant in recent times, as accelerating technology, economic volatility, and globalization are indicators that times for business as usual are long gone. As a result, a lot of companies have been compelled to innovate, pivot, or rethink their strategies entirely. Ambercrombie & Fitch can also go the same route by changing its cultures. Leaders have discovered that in some situations, these steps are challenging and some are even impossible to perform without altering the culture that is associated with the company. A different strategy may call upon the change of the entire culture mind-set of the organization; ‘the way we do things around here’. It is necessary for the leadership of the company to own and be engaged in the process. Only through ownership and engagement can the leadership ensure that Ambercrombie & Fitch is fully aligned and there is the right organizational structure in place, a system that is relevant, the correct management practices, and the required talent in place so as to grow in the desired direction. The