An Outline for Malden Mills Complex Coursework Example | Topics and Well Written Essays - 750 words

An Outline for Malden Mills Complex - Coursework Example The downside effect of his decision is that he lost a lot of money. On the face of his decision, Malden Mills was viewed as a company with a human face, whose main objectives were not only making a profit but also maximizing the employees’ welfare and the community at large. It’s also because of this gesture that Malden Mills was able to get a tender from the Department of Defense to manufacture high-performance apparel for its military. This contract was able to get them out of bankruptcy. Ironically, the very merits for which Malden Mills is lauded among CSR advocates are also the main causes of Malden Mills’ bankruptcy (which left its former creditor GE Capital its largest shareholder) and of Feuerstein’s fall from management. Malden Mills was a capitalist firm in competitive environment structure. Continuing to maintain idled workers expanded the cost structure of Malden Mills. Lump sum compensation for the workers would have been the ideal solution in such a situation if I were the president of Malden Mills. Feuerstein’s philosophy captures human resources management at the pick of its effectiveness. He did not allow a devastating fire to shut Malden Mills down. With the help of a people-focused leader, Malden Mills displayed tenacity, loyalty and dedication in its decision to rebuild. He made a decision - one that others in the textile industry found hard to believe. Feuerstein decided to rebuild right there in Lawrence - not to move down South or overseas as much of the industry had done in search of cheap labour (Leung, 2009). The company may have filed for bankruptcy twice but what Feuerstein did for the Malden Mills staff opened a new leaf in the field of human resources management. Though not talked about, Malden Mills had a very strong HRM team that was able to stand by it until it was rebuilt.   A private company is owned by the company founders, a group of private investors or the management.