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Pages:
1 page/≈275 words
Sources:
2 Sources
Style:
APA
Subject:
Communications & Media
Type:
Case Study
Language:
English (U.S.)
Document:
MS Word
Date:
Total cost:
$ 4.46
Topic:

Leadership and Crisis Management

Case Study Instructions:

Link:https://www(dot)forbes(dot)com/sites/edwardsegal/2022/09/06/by-naming-interim-cfo-bed-bath--beyond-underscores-need-to-respond-quickly-to-a-crisis/?sh=3b4b21ae7c8b(The pdf version is attached in case the link doesn’t work)
What happened: Two days after confirming the death of chief financial officer Gustavo Arnal, Bed Bath & Beyond named Laura Crossen as interim CFO, who's now responsible for stabilizing the company’s finances and overcoming the crisis. Several experts commented on this, agreeing that Bed Bath & Beyond is in a challenging position right now and the interim CFO will play a vital role.
Question 1:
Bed, Bath & Beyond's share price plummeted Tuesday, falling 15% to $7.18 a share in mid-morning trade. Over the past year, the retailer's stock has lost more than 70% of its value. The company's chief financial officer, Gustavo Arnal, died Friday after jumping from a luxury skyscraper in downtown Manhattan. The New York City medical examiner's office ruled his death a suicide. Consider this, then examine Bed, Bath & Beyond's response to this crisis. Do you think the organization did a good job appeasing the public? Why or why not.
Question 2:
In the article, Yo-Jud Cheng, assistant professor of business administration at the University of Virginia Darden School of Business, mentioned that "in other companies, we’ve seen the pace of strategic change slow down when interim CEOs are in place." In your opinion, why does this happen or what causes it?
source: https://www(dot)cbsnews(dot)com/news/bed-bath-beyond-stock-cfo-gustavo-arnal-shareholder-lawsuit-meme-stock-drop/#:~:text=The%20company's%20chief%20financial%20officer,ruled%20his%20death%20a%20suicide (链接到外部网站。).
https://www(dot)forbes(dot)com/sites/edwardsegal/2022/09/06/by-naming-interim-cfo-bed-bath--beyond-underscores-need-to-respond-quickly-to-a-crisis/

Case Study Sample Content Preview:

Leadership Crisis management
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Question 1
The organization did a good job of resolving the crisis. Leadership changes are among the most stressful aspects of a company going through a crisis because organizational transformation takes on a new level of complexity during these times. When there is a lot of unpredictability in the environment, it may make it more difficult for businesses to make critical choices during leadership changes since they do not have a top executive or a vital department head (Ivanova, 2022). When faced with periods of volatility, uncertainty, complexity, and ambiguity, interim management is one of the most essential tools a company can use to address its issues. Interim leaders are people brought into an organization at short notice with the specific intention of providing leadership as a bridge between two permanent executives or department directors. They are an essential source of support for ensuring the continued viability of a company when it is going through challenging times.
Question 2
I agree that when the interim CEO takes the company, the strategic ch...
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