IDEAS home Printed from https://ideas.repec.org/a/ksp/journ3/v2y2015i3p175-192.html
   My bibliography  Save this article

Addressing Bad Management Practices in a Family Owned Oil Field Environmental Organization: A Longitudinal Case Study of a Management Turn Around

Author

Listed:
  • Jeff STEVENS

    (McNeese University, USA.)

Abstract

Bad management practices can plague any organization and can be an on-going challenge for organizations of all sizes. In the case of Extra Environmental, Inc. (EEI), bad managementhas had a more significant impact as it permeated throughout every major department in the company. A culture of bad management has entrenched itself at EEI, while the ownership partners operated as if bad management practices were a byproduct of the oil and gas industry. A case study, used to undertake this report was based on the uniqueness of the parameters and specific measures taken to address the challenges. The case study identified five (5) key problems, as detailed below, that was studied, diagnosed, and addressed, to meet this case study’s objectives. This case assessed the steps employed to address the specific bad managementpractices, and to gain an understanding of what good management looks like so corrective actions can be employed to aid an organization. The strategies and activitiesundertaken in this study focused on not only fixingbad management practices, but also to create strong management functions inan organization and stabilize their workforce and grow the organization. Cultural and change aspects were also key factors in this study in that they are foundational components that must be addressed to gain any level of success in turning around bad management practices at an organization. Thus, a compilation of diagnosis, corrective actions, change, and culture were identified as the key success factors in this study as well as the support given by many of the literature resources used in this study. It was the financial impact, as well as other major problems identified in the due diligence process, that created the rationale for this case study.

Suggested Citation

  • Jeff STEVENS, 2015. "Addressing Bad Management Practices in a Family Owned Oil Field Environmental Organization: A Longitudinal Case Study of a Management Turn Around," Journal of Economic and Social Thought, KSP Journals, vol. 2(3), pages 175-192, September.
  • Handle: RePEc:ksp:journ3:v:2:y:2015:i:3:p:175-192
    as

    Download full text from publisher

    File URL: http://www.kspjournals.org/index.php/JEST/article/download/436/506
    Download Restriction: no

    File URL: http://www.kspjournals.org/index.php/JEST/article/view/436
    Download Restriction: no
    ---><---

    References listed on IDEAS

    as
    1. Jensen, Michael C. & Meckling, William H., 1976. "Theory of the firm: Managerial behavior, agency costs and ownership structure," Journal of Financial Economics, Elsevier, vol. 3(4), pages 305-360, October.
    2. Susan Bartholomew & Anne D. Smith, 2006. "Improving Survey Response Rates from Chief Executive Officers in Small Firms: The Importance of Social Networks," Entrepreneurship Theory and Practice, , vol. 30(1), pages 83-96, January.
    3. Nicholas Wilson & Michael J. Peel, 1991. "The Impact on Absenteeism and Quits of Profit-Sharing and other Forms of Employee Participation," ILR Review, Cornell University, ILR School, vol. 44(3), pages 454-468, April.
    4. Oecd, 2002. "Access for Business," OECD Digital Economy Papers 67, OECD Publishing.
    Full references (including those not matched with items on IDEAS)

    Most related items

    These are the items that most often cite the same works as this one and are cited by the same works as this one.
    1. repec:ksp:journ3:v:1:y:2015:i:3:p:175-192 is not listed on IDEAS
    2. Alfredo De Massis & Josip Kotlar & Pietro Mazzola & Tommaso Minola & Salvatore Sciascia, 2018. "Conflicting Selves: Family Owners' Multiple Goals and Self-Control Agency Problems in Private Firms," Entrepreneurship Theory and Practice, , vol. 42(3), pages 362-389, May.
    3. Olfa Aissa, 2016. "A Meta-Analysis of the Financial Participation Impact on Firm Performance," International Journal of Business and Management, Canadian Center of Science and Education, vol. 11(8), pages 186-186, July.
    4. Dominik van Aaken & Maximilian Göbel & Daniel Meindl, 2020. "Monitor or Advise? How Family Involvement Affects Supervisory Board Roles in Family Firms," Schmalenbach Business Review, Springer;Schmalenbach-Gesellschaft, vol. 72(2), pages 193-224, April.
    5. Hermans, Raine, . "International Mega-Trends and Growth Prospects of the Finnish Bio-technology Industry - Essays on New Economic Geography, Market Structure of the Pharmaceutical Industry, Sources of Financing, Intelle," ETLA A, The Research Institute of the Finnish Economy, number 40, June.
    6. James H. Davis & Mathew R. Allen & H. David Hayes, 2010. "Is Blood Thicker Than Water? A Study of Stewardship Perceptions in Family Business," Entrepreneurship Theory and Practice, , vol. 34(6), pages 1093-1116, November.
    7. Julien Salin & Nadine Levratto, 2020. "Are business angel-backed companies truly different? a comparative analysis of the financial structure," EconomiX Working Papers 2020-5, University of Paris Nanterre, EconomiX.
    8. Francis Sun, 2017. "Relationship versus Transaction Marketing in China: An Institutional Approach," Business and Management Studies, Redfame publishing, vol. 3(2), pages 47-60, June.
    9. Mohammed T. Abusharbeh, 2024. "Technology-Profitability Paradox in Banking Sector: Evidence from Palestine," Journal of the Knowledge Economy, Springer;Portland International Center for Management of Engineering and Technology (PICMET), vol. 15(3), pages 14855-14873, September.
    10. Barbara Su, 2023. "Banking practices and borrowing firms’ financial reporting quality: evidence from bank cross-selling," Review of Accounting Studies, Springer, vol. 28(1), pages 201-236, March.
    11. Yeon‐Koo Che & Kathryn E. Spier, 2008. "Strategic judgment proofing," RAND Journal of Economics, RAND Corporation, vol. 39(4), pages 926-948, December.
    12. Klapper, Leora F. & Love, Inessa, 2004. "Corporate governance, investor protection, and performance in emerging markets," Journal of Corporate Finance, Elsevier, vol. 10(5), pages 703-728, November.
    13. Hartarska, Valentina M. & Nadolnyak, Denis A., 2012. "Financing Constraints and Access to Credit in Post Crisis Environment: Evidence from New Farmers in Alabama," 2012 Annual Meeting, August 12-14, 2012, Seattle, Washington 124882, Agricultural and Applied Economics Association.
    14. Hasan, Iftekhar & Lozano-Vivas, Ana, 2002. "Organizational Form and Expense Preference: Spanish Experience," Bulletin of Economic Research, Wiley Blackwell, vol. 54(2), pages 135-150, April.
    15. Fabbri, Daniela & Menichini, Anna Maria C., 2016. "The commitment problem of secured lending," Journal of Financial Economics, Elsevier, vol. 120(3), pages 561-584.
    16. Sang Cheol Lee & Mooweon Rhee & Jongchul Yoon, 2018. "Foreign Monitoring and Audit Quality: Evidence from Korea," Sustainability, MDPI, vol. 10(9), pages 1-22, September.
    17. Lu, Yao & Zhan, Shuwei & Zhan, Minghua, 2024. "Has FinTech changed the sensitivity of corporate investment to interest rates?—Evidence from China," Research in International Business and Finance, Elsevier, vol. 68(C).
    18. DEGEORGE, François & DING, Yuan & JEANJEAN, Thomas & STOLOWY, Hervé, 2005. "Does Analyst Following Curb Earnings Management?," HEC Research Papers Series 810, HEC Paris.
    19. Xueyan Dong & Jingyu Gao & Sunny Li Sun & Kangtao Ye, 2021. "Doing extreme by doing good," Asia Pacific Journal of Management, Springer, vol. 38(1), pages 291-315, March.
    20. Gerry Gallery & Emerson Cooper & John Sweeting, 2008. "Corporate Disclosure Quality: Lessons from Australian Companies on the Impact of Adopting International Financial Reporting Standards," Australian Accounting Review, CPA Australia, vol. 18(3), pages 257-273, September.
    21. Baarda, James R., 2003. "Current Law & Economics Debates: Tools for Assessing Fundamental Cooperative Changes?," 2003 Annual Meeting, October 29 31802, NCERA-194 Research on Cooperatives.

    More about this item

    Keywords

    Management practices; Environmental Organization; Management.;
    All these keywords.

    JEL classification:

    • E01 - Macroeconomics and Monetary Economics - - General - - - Measurement and Data on National Income and Product Accounts and Wealth; Environmental Accounts
    • Q00 - Agricultural and Natural Resource Economics; Environmental and Ecological Economics - - General - - - General
    • Q50 - Agricultural and Natural Resource Economics; Environmental and Ecological Economics - - Environmental Economics - - - General

    Statistics

    Access and download statistics

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:ksp:journ3:v:2:y:2015:i:3:p:175-192. See general information about how to correct material in RePEc.

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    If CitEc recognized a bibliographic reference but did not link an item in RePEc to it, you can help with this form .

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: Bilal KARGI (email available below). General contact details of provider: http://www.kspjournals.org .

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service. RePEc uses bibliographic data supplied by the respective publishers.