Malden Mills Essay Example | Topics and Well Written Essays - 1750 words

Malden Mills - Essay Example The organization faced most precarious conditions like bankruptcy and encountered considerable amount of destruction caused due to the onset of fire. The jobs of 3000 employees of the organization were at stake. But surprisingly the Aaron did not resolved to any means of employee termination rather he spent millions on the all 3000 employees and kept them on payroll for a period of three months. The result of such a step infused loyalty within the employees and the resultant production after the onset of work was much higher than the production before. This act of him prevented thousands of employees in losing their jobs and proved Aaron Feuerstein’s worth as a true leader. (Leung) He held the view of treating his employees as an asset and reflected his responsibility towards the society. He was able to think beyond the profitability and broadened his idea to deliver the best for the community by staying with the employees during such critical conditions. Aaron Feuerstein had the courage and conviction to reflect on the appropriate action and had set high values for the leaders of all the organizations to behave rationally and to implement decisions considering all the associated factors. The determination and the leadership skill as exhibited by Aaron Feuerstein is a heroic achievement. Malden mill used to operate in a 300 year old mill town. The mill went into bankruptcy in the year 1981. In order to prevent the mill from going into bankruptcy the organization could have taken some precautionary steps. The mill could have hired a budgetary advisor who could have limited the spending of the mill in comparison o the earnings. Budgetary advisor would also have provided with planning and ideas to save money by reducing unnecessary cost and other expenses. In order to pay back the debt to the creditors the mill could have sold some assets which are not in use in a great deal and this could