Identification of problems
The given case study revolves around the problems of the Lee and Lis firm which appeared because of the rude interference in its traditional functioning of one of its workers. Being founded in 1953 in Taiwan as the law office, the firm managed to guarantee its blistering evolution and development. On the wave of success, in 1965 the firm was joined by C.N. Li and the new company continued its blistering growth. The founders of the company died and it was headed by Paul Hsu, Kwan-Tao Li (C.N. Li’s son) and C.V. Chen. They managed to guarantee the extreme growth of the firm and made it one of the most significant companies in the given sector.
The company was oriented on clear and open interaction with its clients, resulting in the high level of popularity and incomes. Caring for people, excellence in quality and client service were taken as the main principles in accordance with which the functioning of the company was organized. Now, the company works with SanDisk Corporation which is one of its greatest clients. The fact is that Lee and Li company controls 127.8 million shares which are valued at $83.3 million. The given background is needed to demonstrate the main principles of the company and pattern according to which it functions. Knowledge of the peculiarities of the company helps to understand the following accident better.
Analysis of issues
The present problem involves the actions of one of the workers of Lee and Li. Eddie Liu, one of the senior partners of Paul Hsu and Kwan-Tao Li, was an experienced and trusted employee with a great CV and good skills in the given sphere. That is why, he became one of the main actors of the firm and was responsible for the cooperation with San Disk. In 2002 this company authorized Lee and Li to file the investment application with the government of the country. Lee and Li company obtain the possibility to act on behalf of SanDisk. Eddie Liu used the given opportunity to get around a law. Having applied for a leave of absence, he moved to the five-star hotel and opened many accounts for SanDisk in banks. His next step was the transfer of about 120.3 million UMC shares, which later were sold, to these accounts. He obtained $92 million. Liu asked for the leave without pay and withheld files connected with SanDisk. His request was satisfied.
Solutions and implementation plan
Resting on the above-mentioned information, it is possible to outline the dilemma which the company faces now. Having discovered the Lius malfeasance, the officials of the company realized the necessity of the creation and implementation of a certain strategic plan which could help to solve several problems. First of all, a company has to reserve its face and protect its trusted image (Chandler, 2005). Secondly, it has to make amends and guarantee that SanDisk will obtain its costs. Thirdly, the further functioning of the company should be organized in the way which will help to avoid accidents of this sort and protect both staff and partners from the similar threats.
That is why, it is possible to suggest the following plan. First of all, Lee and Li should make a solemn declaration (Straus, 2014), describing the given situation and explaining all peculiarities of the given case. The fact that Eddie Liu was the worker of the company could have a negative impact on the image of Lee and Li, however, it is necessary to act open and demonstrate its indignation and rejection of its workers behavior. The company could also be taken as the Lius victim because it suffered from his actions.
It was impossible to scent or foresee such scenario because the Lius CV was excellent. Additionally, describing the given accident, the company could help the government and other firms to notice the loophole in the power of attorney (Reduce Misconduct by Making Ethics Everyone’s Business, 2009). However, accepting its fault and showing peculiarities of the accident, the company should not give up and initiate the trial connected with the given case (Shipilov, 2013). There are several reasons for it. First of all, it will demonstrate the companys determination to fight with all perpetrators who want to act in a similar way.
Besides, there is the possibility that Eddie Liu will be found guilty and the court could hold that all costs obtained by Liu should be returned. Nevertheless, regardless the results of the trial, Lee and Li should also initiate the procedure of the recovery of losses (Recovery of investment losses, n.d.) and give SanDisk all costs back. Finally, to protect its image and the rest of the staff, the company should accept measures that will liquidate the existing loophole in the power of attorney and give more attention to the processes like that, controlling every step and giving the authority only to loyal workers, whose behavior is above suspicion (Recovery of losses, n.d).
Conclusion
With this in mind, it is possible to say the Lee and Li company faces a complicated problem which could be solved with the help of a certain strategic plan.
References
Chandler, R. (2005). Avoiding Ethical Misconduct Disasters. Web.
Recovery of investment losses. (n.d.). Web.
Recovery of losses.(n.d.). Web.
Reduce Misconduct by Making Ethics Everyone’s Business. (2009). Web.
Shipilov, A. (2013). Why Good Business Partners Go Bad, And How To Prevent Being Cheated. Forbes. Web.
Straus, K. (2014). 7 Ways To Save Your Sinking Company. Forbes. Web.