David Fletcher Case Study
When the environment for portfolio management changed and as Fletcher began being overwhelmed with research, he sought to create a team of analysts that could assist him with his work. Fletcher failed to build this team on his first attempt as a result of several causes. There were multiple mistakes that Fletcher made that can be seen in his interactions with people. The first was his assistant Whitley which he had a close relationship with. Before Fletcher hired Doyle, he did it hastily without consulting Whitley. The lack of consent and thought for how he would fit into the company’s culture showed when tension grew between Doyle and Whitley. This led to unproductive work as …show more content…
To help him reflect, Fletcher showed great calm throughout the years. Called by others “father-like” and patient, Fletcher earned respect from many of his analysts and peers. Another thing Fletcher did well was initiate a good incentive plan. By allowing his analysts to have a part of the portfolio to manage themselves, Fletcher has not only provided a monetary incentive, but a job oriented incentive since many of the analysts expressed great interest in managing and making money. However, none of these positive traits were enough or timely enough to help Fletcher when two of his analysts left the firm.
What should Fletcher do differently this time?
Fletcher first off should have identified for sure what his idea of his team should be. If he knew he wanted to mold his analysts to be able to buy-in to his style, then he should have hired someone less experienced. If he knew he wanted to have people that could do their job right away but at the same time know there is great difficulty managing people who are already established, then he should stay with the same decision he made. Either way, if Fletcher had done a thorough analysis of what he needed and what he is capable of managing, then the process would have been much smoother. Since Fletcher decided to hire more experienced professionals, the first thing he should have done is make sure there was compatibility amongst the group. If any issues