Change is an important to every business. Companies that don’t change become obsolete and susceptible to being irrelevant. Blockbuster and Blackberry are perfect examples of adapting to opportunity which ultimately was the reason they went out of business. Netflix and Apple are companies that capitalized on changes in the marketplace and were able to profit on the mistakes of the competition. The manner that a company presents change is an important part of its success. When leaders developed their business strategies, it is in their best interest to incorporate as many members of the team, then deliver it in a manner that makes employees feel like part of the solution. This is how buy in is achieved, and can be the difference between failure and success. For this paper I will describe a made up organization’s history, products, and major competitors. I will develop a current situation of the organization in the market and factors that have an impact on the organization. A SWOT will be defined and created to determine its place in the market, then three areas I will discuss why these areas are essential for the success of the company. Finally, I will determine metrics to gage the results of the company. Company Overview: Exotic things is a company located in Ogden, Utah that specializes in selling, and caring for exotic animals. It is the only company that is not on the East or West Coast in America that legally deals in exotic animals. This company is unique because of the
Analyze Blockbuster's current position (based on its brick-and-mortar business model) using Porter's 5-forces model. What are the conclusions of your analysis?
Kotter’s 8-Step approach to transformational change begins with creating a sense of urgency. Creating a sense of urgency involves examining markets and competitive realities and identifying and discussing crises, potential crises, or major opportunities (Weiss, 2012). At its peak, Microsoft was at the forefront of computing technology. This position led to “overnight millionaires” that eventually skewed the perspective of the once eager employees. Long time executives ended up letting new employees handle everything while they waited for the next windfall. Instead of continuing a momentum of innovation, they [Microsoft] had allowed themselves to reach a plateau while the competition past them by. Innovation gave way to employees
SWA went from activities and tasks that blended together, molding a strategic fit, which transpired into their competitive advantage against the competition to a company that focused on the bottom-line. Untouchable for decades, until the new top management changed SWA’s activities, which now threatens their strategy and competitive advantage. To find out what SWA is up against now, one assesses SWA’s activities, which explain how they worked toward the competitive advantage before moving on to what occurred to change the situation, making SWA’s competitive advantage fade into history unless the organization chooses to mend their ways or create a new strategy and competitive advantage.
A wise man once said, “The only permanent thing in the world is change,” an adage that rings especially true for organizations in this fast-changing era of technology and communication. Daft very deftly puts the inescapable need for change in three simple words, “Innovate or Perish” in his book “Understanding the Theory & Design of Organizations” [2].
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 book is to make us see that nearly all-operating prescriptions for creating large-scale corporate change are nothing but myths and that changes do not happen from one day to another by a miracle, the change from good to great is the result of a successful plan who
Blockbuster is the largest movie rental retailer. With its opening in 1985, Blockbuster has pursued an ambiguous program of growth and expansion. Currently, Blockbuster owns and operates over 9,000 stores both domestically and internationally. In addition, Blockbuster franchises about a quarter of its stores. It is important to note that Blockbuster is undergoing a managerial struggle at the present time. The current CEO, John Antioco, and a major shareholder, Carl Icahn, are disputing Blockbuster’s strategy. Mr. Antioco has threatened to resign if Mr. Icahn succeeds at attaining a position on the Board of Directors1. Mr. Antioco believes that Blockbuster needs to develop new strategy to respond to the current market
Change has become necessary for every organisation there is. World is moving rapidly towards better technologies, efficient systems, new techniques, compact profits, different friendlier environments and organisations are always in the race to reach new heights by thriving effectively in this competitive environment (Kotter, 1996).
Change in a business is inevitable and typically only the strongest thrive. With a fluctuating economy and constant technological advancements, organizations are expected to adapt in order to survive. When a business is posed with an issue or change, it must develop new business and strategy structures and implements those developments throughout the entire company. Communication, education and participation are all required for a change model to be successful. Though change and adaptation may be needed to better the company, with implementation of change comes resistance. Most companies face resistance on an organizational and individual level during a transition. However, it is how the company is able to overcome
In this contemporary world, change is the new normal especially to most organizations facing with constant change. Companies must continuously adapt or be overtaken by the change as technology, globalization, evolving customer behaviors, and a host of other factors are creating a highly dynamic business environment (AlixPartners, 2017). One company that constantly face change to improve their organization or sometimes to deal with issues within their organization called Apple, which will be discussed in this paper. Topics including the degree to which the change has been disruptive and how the organization has responded to the dynamics created by this change; strategies the organization used in
Even though it grew mainly due to the strategies and innovative ideas it developed in this industry, the fact that there was an absence of substantial competition also helped propel its success.
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.
In developing an organization and preparing for the changes necessary a reliable change management plan is often required to overcome workplace resistance when employees are presented with a new way of doing things. Change management is a strategy designed to transition from the status quo to some new ideal way of doing business. CrysTel, a growing telecommunications company, finds itself in a very dynamic industry that along with frequent advances in technology will dictate that it adapt to rapid and persistent changes. Developing a successful change management plan for CrysTel will have distinct goals: optimize flexibility, promote innovation, and sustain change. Change management at CrysTel will involve identifying the strengths and weaknesses of departments within the
In this dynamic business environment, change is inevitable. Changes can be planned, or unintentional: depending on the driving forces behind. The major forces for change can be derived from the nature of the workforce, technology, economic shocks, competition, social trends, and world politics (Robbins & Judge, 2011). In this post the author will explain the Kotter’s eight –step approaches to managing organizational change and discuss how his company handles the planned changes in term of organization reconstruction.