This Sample Paper on Iggys Bread Offers

April 12, 2010 Iggy’s Bread of the World c/o Igor and Ludmilla Ivanovic 130 Fawcett Street Cambridge, MA 02138-1112 Dear Mr. and Mrs. Ivanovic: I am glad to have the opportunity to work with you both on concerns regarding your company. I have read the background information about that you sent me and in regards to your COO Mr. Matthew McRae, I would like to make a few observations and recommendations. First, I would like to start with a quote from Mrs.

Ivanovic from the material you sent me, “It’s not just about a business where we need to make money. I want our employees to get pleasure out of what they do.

I want them involved with the company. I want them to like what they do, to be excited to come in and have initiative and be proud of what they do. ” I see this as the foundation of your company and I will reference this quote occasionally.

Another reference would be when a venture capitalist wanted to invest in your company, expanded the company, and said, “If you grow it to a point and go public, sell it, then you will make a lot. ” Both of you did not like that idea at all. Mrs. Ivanovic stated, “I would never accept selling out because it’s everything I don’t believe in and I wouldn’t want any part of it.

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I would never sell Iggy’s just for money. I make point of these two areas because I want to refresh your memory a little of where you have come from.

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When you approached Mr. McRae to come work at Iggy’s he had previously run a leasing company, which had gone public several months earlier. Therefore, McRae just did to the leasing company what you didn’t want done with Iggy’s by the venture capitalist. A leasing company is nothing like a bakery; Mr. McRae was used to dealing with companies that were in the business to make money.

For Iggy’s it wasn’t all about the money as I stated above it was as Mrs. Ivanovic put it threefold: “one part is the bread and the quality of the product; two is our work…the employees…it’s a good bakery, but it is also has to be a healthy business; and three is the community, how we deal with outside customers, how we can make a difference by not treating them like a number. ” From what I read Mr. McRae did not follow any of these three parts. For him it was about hiring relatives and friends, to give everyone a fancy title and about making money. I am not sure that anyone that Mr.

McRae hired had the experience for the job they had been hired for and none had a background in a bakery or a food type of business. As stated in the material I received your employees are unhappy as well because “they perceive the management team as too isolated from the operations and culture that were at the heart of the company. ” All indicators show that the management team and Mr. McRae did not buy into the unique culture that is Iggy’s and the vision of Mrs. Ivanovic. Finally, I will state that both parties are responsible for the disagreements that they are having. Mr. Ivanovic hired Mr.

McRae on a feeling that he would be a good fit and did not set any ground rules when it came to his input into hiring people in certain leadership positions. That being said he did give Mr. McRae warning that he wanted to have input after hiring Diane Coleman for Vice President of Sales and Marketing. So it is understandable that Mr. Ivanovic would be upset when Mr. McRae hired another manager without consulting him. These are a few of my observations, but I feel they make my point when it comes to my recommendation. My recommendation would be to accept Mr. McRae’s letter of resignation and let him go.

His proposal states the real reason for the way he has been acting. It is all about making money to him and not about the people or the culture of Iggy’s. His previous actions would only get worse if he was retained. Working through a mediator or consultant is no way to run a business. Let him have his opportunity to be one of the people making millions with a start-up, it just won’t be yours. Once that is accomplished you can move ahead with getting his replacement without the stress of having him around. Mr. Ivanovic’s brother Nikola can help run the business for a short time while you work on getting Mr.

McRae’s replacement. Expect some if not all of Mr. McRae’s hires to leave when he leaves. Once the new person is hired he/she can decide whether to keep or let go of the people originally hired by Mr. McRae. Next, I would then sit down with your board of directors and work out exactly what type of manager is required to run the business. It should be someone from the same type of business you are running with management and operating skills. A lot has been learned by your interactions with Mr. McRae, so list the things that he did that you liked and the things you didn’t like.

Come up with a vision and mission that everyone can agree to. List the important areas that you do not want to change and what areas that can be changed. Determine how much control of the business you are willing to share or give up entirely. Have specific goals in mind; think about long-term goals and strategies. Identify strengths and weakness, so you can hire someone that complements you. Evaluate personalities to get a sense of their managerial style, interview direct reports at three previous positions to get a feel for the person you are thinking of hiring will fit-in.

When it is time to hire include the board of directors in the interviews and let them have a vote in the final hiring. This will help take the emotion out of the decision making process and allow everyone buy-in. Hopefully, I have addressed your concerns and that my recommendations are helpful. I will be happy to answer any questions or elaborate on any of my observations and recommendations. Thank you for your time and consideration in this matter. Sincerely, Joe Smith