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Temasek, an enormous  Asian investment house with its Headquarters in Singapore, has actively been involved in both investing and shareholding in a number of diversified industries#. Though seemingly doing well in its operations, this large business firm's operations was affected greatly by the global economic crisis, which set a platform for the current management crisis. Following these crises; management crisis and the global economic crisis, Temasek's CEO, Ho Ching, was put under pressure to pave way for a new leadership, a move that was later affected by the refusal of the appointed CEO, Mr. Goodyear Chip, to honor the appointment. It was speculated that Mr. Goodyear feared for lack of the freedom he needed to sail the firm through the turbulent  economic moments.
Identification of the problem & argument
As indicated above, a management problem looms in Temasek; evidenced by the refusal of Mr. Goodyear to honor the appointment by the firm's board. This, indeed, is a management problem, since the company's managing body cannot work well together in such an environment that is not only hostile but also intimidating to the CEO; who is being blamed for the company's economic instability and seems to be in control of the operations of the company.
Model discussion
Thinking within the classical management model, we realize that managers are viewed as the keepers of the scorecards, to foster short-term achievements. By this, these senior managers are seen as administrators who control the activities of the organization.# This thinking model is what ails many companies today.
Basing our argument on the situation within the Temasek company, it is realized that it is the classical management model that is in use, where the CEO is viewed as an administrator. To reverse this state, it is recommended that the modern management model be adopted, where there is employee involvement in the operations of the company. Effectively, both the employees and the managers need to be ''world-class problem solvers''. The interaction between the employees and the managers, as a result, will maximize the returns and provide a ground for long-term solutions to the problems within the company.

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Chang Sea-Jin Business Groups in East Asia: Financial Crisis, Restructuring, And New Growth. 2006. Oxford: oxford University Press.