Bed Bath and Beyond Business Analysis Businesses have to adapt to the ever-changing economy. It is not much of a choice for business leaders to change elements of their organization to stay in competition with their peers. The hardest part, most of the time, is changing the people in the organization to develop the necessary outcome or goal. As a business leader getting rid of people or changing their job specifics is one of the many responsibilities they have to be comfortable performing. Organizations have to take into consideration their competitors, customers, shareholders, employees, and the community to make decisions. Change is an aspect that many people are afraid of. In the new millennium, organizational leaders have to embrace …show more content…
5). Some of these superstores were 80,000 square feet and carried more than 300,000 different products stocked from floor to the ceiling. By 1991, they started opening new stores in more states, and two stores already in operation increased in size to match the trending superstore format. Sales and earnings for the founders increased unexpectedly and they invested the revenue right back into the organization. As the number of stores increased, Eisenberg and Feinstein were also strategically placing Bed Bath and Beyond stores in locations contrary to the norm in metropolitan areas. Strategies and Tactics Like most organizations, ways to adapt to economic downturn or recession are strategically planned. Bed Bath and Beyond has some strategies they are engaging in. Bed Bath and Beyond is financially strong. They have an advantage over most retailers when it comes down to possessing an availability of opportunities during an economic downturn and recovery. That one advantage is to grow. In hard times and when businesses are focusing more on cutting back on staff, resources, and adapting to working on a budget, they are in no mindset to grow and build upon the company. Bed Bath and Beyond are financially strong that they are opening more locations and taking a strong hold on the retail industry when their peers are slowing and
Bimbo Bakeries USA, headquartered in Horsham, Pennsylvania is the United States affiliate of Grupo Industrial Bimbo, founded in Mexico City, Mexico. Though Grupo Bimbo is now a multinational corporation, it began as a single family-owned bakery in Mexico City called “El Molino”. Lorenzo Servitje Sendra worked with his father in the family bakery throughout his childhood, but when his father died in 1936 he had to take over. Lorenzo was educated and ambitious, and together with three of his family members devised a plan to increase the scope of their business. They bought five delivery vans to deliver their breads, wrapped in plastic to preserve freshness, to various small stores daily. Customers loved their product and within a few years they had increased production and were expanding outside of Mexico City.
Businesses are facing a dichotomy between wanting to chalk out an all-time structure and strategy for their organization, and recognizing that their world is in a constant state of flux [3]. For most of the 20th century they were largely focused on the static elements of this dichotomy. However, in the last decade changes have become more frequent and more dramatic, so much so that a whole branch of management is now devoted to the subject of change itself.
America’s economy has been a really fluid entity over the last few decades. Organizations have had to be flexible and have to adopt a mindset that change is critical to the success of their brand. The dot com period, housing boom and bust, Wars, recession and the shift in governmental powers have all made it imperative that organizations responds to changing
As the rapid development of modern economy and the increasingly fierce market competition, the demand of how to manage organization change is increasing. Especially for leaders in both large and small companies, the ability of dealing with change is so significant. In many case, the main reason for company bankruptcy is that leaders fail to cope with organization environment change properly. The demise of many fortune 500 companies in the 1980s and
Change is inevitable. Changing is not always welcomed but it is necessary for organizations to maintain their place in the world. Successful organizations thrive because they have a vision, a mission
Change is a basic part of life. Leaders, whether it be the CEO of the company or you, must anticipate forces that will cause changes, identify opportunities that will require changes, react to unforeseen events that make changes imperative, and work with others to overcome the predictable reactions to change, which almost always include some amount of resistance, often to a significant degree.
Clene & Brite Carpets is a carpet cleaning company that is located in Staunton, Virginia. The service areas they cover include the Virginia counties of Augusta, Bath, Highland, Rockbridge, and Rockingham. Clene & Brite Carpets has been in the carpet cleaning business for more than 30 years. This carpet cleaning company is serving both the residential and commercial customers. Clene & Brite Carpets specializes in carpet cleaning, rug cleaning, and upholstery cleaning. People can count on them for their safe and effective carpet cleaning and pet odor treatment. Clene & Brite Carpets caters the best carpet cleaning options for the home and business. Clene & Brite Carpets delivers personalized service. This carpet cleaning company uses safe cleaning
Leading and managing change require a solid theoretical foundation. This assignment will research the theoretical elements of change and change management. Addressed will be the following: Organic Evolution of Change, Formulating Strategic Development Approaches, Leadership and Management Skills and Gathering and Analyze Data. As societies continue to evolve and changing demand creates the need for new products and services, businesses often are forced to make changes to stay competitive. The businesses that continue to survive and even thrive are usually the ones that most readily adapt to change. A variety of factors can cause a business to reevaluate its methods of operation. According to literature from the past two
Week 3, the lecture on Managing Change describes organizational changes that occur when a company makes a shift from its current state to some preferred future state. Managing organizational change is the process of planning and implementing change in organizations in such a way as to decrease employee resistance and cost to the organization while concurrently expanding the effectiveness of the change effort. Today's business environment requires companies to undergo changes almost constantly if they are to remain competitive. Students of organizational change identify areas of change in order to analyze them. A manager trying to implement a change, no matter how small, should expect to encounter some resistance from within the organization.
The purpose of this paper is to discuss organizational change and the management of that change. I will talk about the different drivers of change, the factors a leader needs to weigh to implement change effectively, the various resistances a leader may encounter while trying to implement change, and how various leadership styles will effect the realization of change. I will also discuss the knowledge I have gained through the completion of this assignment and how I think it might affect the way I manage change in my workplace.
After reviewing and researching the literature with respect to organizational changes, I have come to the conclusion that organizations have always changed. When everything in the world is changing, organization cannot remain islands. They must change to face new challenges. Bolman and Deal (2008) claim organizations have changed about as much as in past few decades as in the preceding century. Bolman and Deal (2008) claim means that the change organizations have experienced in the last decade are almost similar to those they experience in at the end of the twentieth century.
Changing situations throughout the world affect all organizations in business today. Therefore, most organizations acknowledge the need to experience change and transformation in order to survive. The key challenges companies face are due to the advancements in technology, the social environment caused by globalization, the pace of competition, and the demands regarding customer expectations. It is difficult to overcome the obstacles involved with change despite all the articles, books, and publications devoted to the topic. People are naturally resistant to fundamental changes and often intimidated by the process; the old traditional patterns and methods are no longer effective.
Katherine Schuler, a quick study, advanced successfully into new role of senior vice president of marketing; joining B&B’s executive team. Her dimension of leadership was learned over time, and not inborn (Ibarra & Oboradu, 2009). She primarily focused on developing a new strategy for marketing and implemented a promotional plan to drive increased profitability. During this time, Schuler was concerned that members of the company had various perspectives on where B&B’s marketing efforts were headed. The organizational goal and vision was to provide; “unique merchandise and extraordinary in-store service, which reflected the founders’ understanding of B&B’s core customer and their dedication to selecting “great” employees” (Hill & Kindley, 2015, pg. 1).
For any business in the rapidly evolving world of business, planning and implementing successful organizational change is indispensable. Essentially, organizational change refers to a process whereby an organization strives to optimize performance in order to achieve its ideal state characterized by high performance and profitability (Côté & Mayhew, 2014). Any business would be more likely to lose its competitive edge, as well as fail to meet the demands of its loyal consumers if it doesn’t plan and implement change. Weiss (2012) emphasizes that all organizations ought to embrace change, and it’s imperative to note that successful organizational change doesn’t involve simple process of adjustments; instead it requires appropriate change management capabilities.
To run a successful business operation of Harvey Norman’s magnitude requires not only operational excellence, but also strategic insight and vision on macro economic conditions, market trends forecasts and also a distinctive understanding and implementation of the company’s business strength. The company’s strong business operations across multiple product areas/industries make Harvey Norman an interest case study to analyze – both from an operations point of view as well as strategic.