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Eventually Mr. Wallace diversified and acquired two other companies, plastics and chemicals, both of which had been single proprietorships. He incorporated into The Wallace Group. Currently Mr. Wallace acts as president, and has directors to care for the other two divisions.
The most apparent difficulty with the management of the Wallace group is the lack of transition from a single proprietorship to corporation thinking and management. Since good management must start at the top, this is the most important issue to face. There is also a serious lack of cohesiveness between the three divisions...
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