Managing the James Hardie Corporate Disaster Persuasive Essay by scribbler

Managing the James Hardie Corporate Disaster
An argument that management at the James Hardie company could have prevented the company's financial collapse.
# 153230 | 731 words | 3 sources | APA | 2013 | US
Published on May 08, 2013 in Business (Companies) , Business (Management)


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Description:

The paper discusses how the managers at James Hardie were faced with a difficult situation when the company was hit with large liability claims related to the asbestos in its older products that were no longer being manufactured by the company. The paper reveals that the company became the subject of boycotts and suddenly owed huge sums to settle lawsuits for the claims of illness and death caused by its asbestos-laden products. The paper argues that the fact that the company was so badly damaged after decades of good economic performance and a good reputation, suggests that the management of the company failed to use the most appropriate management strategies to meet the challenges that it faced. The paper contends that had the managers acted in advance of the public's becoming aware of the asbestos content of its past products, they could in all likelihood have prevented the boycotts that affected the company both economically and in terms of prestige.

From the Paper:

"GM is hardly the only company that has faced such devastating legal consequences for exposing the public and its employees to asbestos. Given that asbestos-related lawsuits have been being successfully pursued for decades, the company's managers should have prepared themselves and the company for the near certainty that Hardie would itself come under attack for its past conduct. Instead, the managers seem to have pursued a policy that many other companies have pursued with similarly poor results: They buried their heads in the sand.
"Anyone familiar with political scandals could have told the managers of James Hardie that far more than the original misdeed it's the cover-up that causes the most serious problems. Had the managers acted in advance of the public's becoming aware of the asbestos content of its past products, they could in all likelihood have prevented the boycotts that affected the company both economically and in terms of prestige. Such a forward-looking decision would not have absolved the company from its financial liability; however, it would have allowed the company to depict itself as concerned about the harm that it had inadvertently caused."

Sample of Sources Used:

  • Asbestos Liability. Retrieved from http://www.asbestosnews.com/asbestos/liability/.
  • Bowker, M. (2003). Fatal Deception: The Terrifying True Story of How Asbestos is Killing America. New York: Touchstone.
  • Heffner, E. (2011). General Motors' Asbestos Liability Set At $625 Million. Retrieved from http://www.lexisnexis.com/COMMUNITY/LITIGATIONRESOURCECENTER/blogs/litigationblog/archive/2011/02/14/general-motors-asbestos-liability-set-at-625-million.aspx.

Cite this Persuasive Essay:

APA Format

Managing the James Hardie Corporate Disaster (2013, May 08) Retrieved July 02, 2022, from https://www.academon.com/persuasive-essay/managing-the-james-hardie-corporate-disaster-153230/

MLA Format

"Managing the James Hardie Corporate Disaster" 08 May 2013. Web. 02 July. 2022. <https://www.academon.com/persuasive-essay/managing-the-james-hardie-corporate-disaster-153230/>

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