Reviving Manpower Inc. - The Joerres Way |
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» Business Strategy Case Studies Please note: This case study was compiled from published sources, and is intended to be used as a basis for class discussion. It is not intended to illustrate either effective or ineffective handling of a management situation. Nor is it a primary information source. |
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EXCERPTSThe ProblemsManpower's problems began in the mid-1990s. At this time the company's revenues were increasing but profits remained flat. Analysts cited Fromstein's long stint, with most of his decisions going unopposed by the board members, as one of the key factors for the stagnating financial performance of Manpower. According to an executive search firm Korn/Ferry International, CEOs in most large US firms have an average tenure of seven or eight years... The Solutions
Targetting New CommunitiesManpower joined with the Association of Rehabilitation Programs in Computer Technology (ARPCT) in May 2002 to provide IT careers to people with disabilities. Through this program, the company aimed to provide training, mentoring and placement services. This association was aimed at targeting two problems -shortage of skilled workers in the IT sector, and unemployment among people with disabilities in the sector... The Road AheadSince 2002, Manpower has been posting healthy growth in the net earnings as well as total revenues. At JW, revenues tripled to US$ 341 million in 2004. From an operating loss of US$ 9.9 million in 2003, the company reported an operating profit of US$ 51.4 million in 2004. Other subsidiaries like Right and Elan were also registering healthy profits. The total revenues of Manpower increased from US$ 10.6 billion in 2002 to US$ 16.8 billion in 2005... Exhibits
Exhibit I: Financial Details of Manpower |
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