Please Analyze the information below and thoroughly perform a problem-solving process formatted as: (If you use attachments to answer, please make sure it's clear and readable, thank you) A. Define the problems B. Determine the cause of the problems C. Generate possible solutions or alternatives D. Decide on the best solution E. Implement the solution(s) F. Evaluate the solution(s)

CASE: THE GRAYSON CHEMICAL COMPANY The Company The Grayson Chemical Co. manufactures industrial chemicals for sale to other industrial companies. The company is about 40 years old and has been run by a stable management in which there have only been two presidents. Within the past few years, however, declining earnings and sales have brought pressure from the board of directors, investment bankers, and stockholder groups to name a new president. The company has become increasingly stagnantalthough at Grayson they re- fer to it as conservativeand has steadily lost market standing and profitability. Finally, the board decided to go outside the company to find a new CEO and was able to recruit a dynamic manager from another major corporation, Tom Baker. Baker was 47 and had helped build his former company into a leadership position. However, when another executive was chosen for the top job, Baker decided to accept the position with Grayson. Baker was clear about what he needed to do. He knew that he needed to develop a top management team that could pro- vide the leadership to turn the company around. Unfortunately, the situation at Grayson was not very favorable. Decisions were made by the book or taken to the next-higher level. Things were done because they have always been done this way, and incompetent managers were often promoted to high-level jobs. The Meeting Baker met with three members of the board, Robert Temple (chairman), James Allen, and Hartley Ashford. Each had a differ- ent bit of advice to offer. Robert Temple said: Look, Tom, you can't just get rid of the old organization if you want to maintain any semblance of morale. Your existing people are all fairly competent technically, but it's up to you to develop performance goals and moti- vate them to achieve these standards. Make it clear that achievement will be rewarded and that those who can't hack it will have to go." James Allen noted: Let's face it, Tom, you need to bring in a new top management team. Probably only six or so, but people who know what top performance means, people who are using innovative methods of managing and, above all, people you trust. That means people you've worked with closely, from your previous employer or other companies, but people you know. You can't retread the old people, and you don't have time to develop young talent, so you need to bring in your own team even though it might upset some of the old-timers. Hartley Ashford smiled and said: Well, my take on this is a little different. Sure, you're going to have to bring in a new team from the outside, but rather than bring in people you've worked with before, bring in only managers with proven track records. People who have proven their ability to lead, motivate, and perform from different industries. This way, you'll get a synergistic effect from a number of successful organizations. And the old people will see that favoritism is not the way to get ahead. So get a top performance team, and if you lose a few old-timers, so much the better. (Use the Case Analysis Form on