Collection Scandal - Strategy Memo Coursework Example | Topics and Well Written Essays - 750 words

Collection Scandal - Strategy Memo - Coursework Example uck & Company to make repayments each month worth $28 for TV, an auto battery, and other merchandise bought using a Sears, Roebuck & Company card before his bankruptcy (ORourke, 2013). On the investigation, it emerged that Sears, Roebuck & Company did not comply with the requirement of filling a reaffirmation in court for the payment. In this regard, legal policy and requirements were ignored. Judge Kenner ordered for further and in mid-March revealed that 2,800 legal violations on reaffirmations had been committed in MA alone. The unlawful business led to the collection of $160 million (ORourke, 2013). The memo aims at stating the critical stakeholders and the concerns that emerge from the case. The meaning of the critical concerns and why the understanding and action being taken matter are the other areas that will be dealt with in the memo. The specific recommendations and the best way to communicate with the different stakeholders affected by the concerns raised in the case are the final areas that the memo will address. The concerns include understanding the legal requirement, determining how the scandal happened, developing mechanisms for evaluating credit provision and approval, retraining of staff tasked with collecting credit and accepting wrongdoing and take full responsibility. The critical concerns mean that the company has a lot of problems with some of its major stakeholders starting with the government, customers, shareholders, and the general public. The critical concerns matter because depending on the outcome and measures undertaken by the company, a lot of revenue, customers, money, and sales will be lost. The concerns matter also because the reputation of the CEO, management of the company, employees, and board of management is on the line. There are a number of ways that Sears, Roebuck & Company can take in solving the scandal that affected the company in the case. Recommendations include: Engaging with law enforcement agencies through