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Group Project 500- 750 wordsYou have been the manager of human resources for a firm headquartered in the United States for many years. The firm has divisions all over the United States, as well as overseas. A new chief executive officer (CEO) has just come onboard after receiving his master’s degree in business from an ivy-league institution. He has great academic credentials but little work experience. The management model that the former CEO preferred was more formal and autocratic, with most decision making being centralized to a great degree. Some of the firm’s challenges include the following:The firm expects to be in a much more competitive environment in the future.To add to this, there has been talk about the possibility of employees forming a union because of the way they were treated under the former CEO.The overseas divisions, where a much higher growth potential is expected, have repeatedly complained about the time it takes to have decisions made by the staff that is headquartered in the United States. On the other hand, there have been times where the international divisions have made decisions that are at odds with the company’s overall strategy.The new CEO has asked you to give him guidance on possibly changing the existing culture to better meet these challenges.Individual PortionManagement models to discuss are as follows:The use of an autocratic versus a participative management style toward decision makingHaving a more centralized versus a more decentralized decision makingAdopting a more informal versus a more formal management styleSearch for articles that deal with actual examples of each of the 3 management models regarding the management of the employees in this firm. Write a 500–750-word paper explaining why that particular model of management was chosen by the senior management in the article that you researched. In your opinion, was this approach toward management a success? Why or why not?Please add your file into the small group area.Group PortionPresent your research to your group on the Group Discussion Board. Together, determine whether each of the 3 management approaches researched by each student in the group was successful and why. If applicable, what would have been a better approach? Compile your findings for each approach into one document and submit it.