Due to growing of globalization, advance technology, and organizational consolidation, change is nowadays become a crucial part of every organization in order to survive in changing business environment. To handle the change, change management is required in transitioning for both organizational and individual level to attain future desired change. Change at organizational level is related to strategy which will indicate organizational direction and activities. In developing effective organization strategy, both internal and external environments have to be taken into consideration. When the strategy has been changed as adapting to changing internal and external environments, strategic change is necessity to be utilized in change management in order to align change with developed strategy. As individual change is pivotal part of organization change, change management need to be adopted at individual level in order to initiate the change and consequently obtain successful organization change. Change Kaleidoscope was produced by Hope Hailey & Continue reading
Modern Management Concepts
10 Steps to Successful Crisis Management
A crisis is an abnormal situation, or even perception, which is beyond the scope of everyday business and which threatens the operation, safety and reputation of an organisation. Crises do not discriminate based on a company’s size or notoriety, and they can hit when a company least expects them. They come in many forms — strikes, layoffs, product recalls or allegations of misconduct, but while some of these may seem small, every crisis has the potential to damage the reputation of a company. Regardless of the severity of the situation, crises pose a serious threat to companies — not only to their reputation but their fiscal health as well. When Odwalla’s apple juice was thought to be the cause of an outbreak of E. coli bacteria, the company lost a third of its market value. The same allegation against Jack in the Box restaurant in 1993 caused the hamburger chain’s Continue reading
Organizational Innovation – Definition, Characteristics and Types
Organizational Innovation is a process of receiving and using new ideas to satisfy the stakeholders of an organization. It is the conversion of new knowledge into new products and services. Organizational Innovation is about creating value and increasing efficiency, and therefore growing business. It is a spark that keeps organizations and people moving ever onward and upward. “Without innovation, new products, new services, and new ways of doing business would never emerge, and most organizations would be forever stuck doing the same old things the same old way. “Innovation here is defined broadly, to include both improvements in technology and better methods or ways of doing things. It can be manifested in product changes, process changes, new approaches to marketing, new forms of distribution, and new conceptions of scope.” (Porter, 1990, p. 45) The term organizational innovations covers a wide spectrum of innovations; for example, it can mean innovations in Continue reading
Concept of Resource Based View (RBV)
The resource based view is defined as a business management tool utilized to know the strategic resources available to firm. The basic principle of the resource based value is that the basis for a competitive advantage of a company lies primarily in the application of the group of valuable resources at the firm’s disposal. In order to change a short-run competitive advantage into a maintained competitive advantage requires that these resources are heterogeneous in nature and not perfectly mobile. In other words, this will change into valuable resources that either perfectly imitable or substitutable without great effort. If these conditions are remained, the company’s group of resources can help the firm sustaining above average returns. The recent dominant view of corporate strategy – Resource Based Theory or Resource Based View (RBV) of company – is based on the theory of economic rent and the view of the company as Continue reading
Case Study of Global Knowledge: Technology as an Effective Ingredient of Customer Relationship Management (CRM)
Case Summary: Global Knowledge, a worldwide leader in IT education and enterprise training solutions, needed a solid and scalable platform for delivering its virtual classroom e-Learning training programs. The company currently offers over 700 courses in 21 countries and in 13 languages every day for such leading companies as Cisco, Microsoft, Nortel, Oracle, Legato, Enterasys and Compaq in addition to a broad array of industry curriculum and certifications. Over the last 2 years, Global Knowledge has begun offering a broad menu of these classes as instructor-led, virtual e-Learning courses but needed a technology platform to effectively address their customers’ virtual training needs around the world. Global Knowledge customers, located throughout the world, attend virtual classes through various connections — dial up modem, DSL, cable modem and corporate LANs behind firewalls. The courses are equivalent to traditional instructor-led classroom courses — complete with subject matter experts as instructors; live Continue reading
Factors Influencing Organizational Change
Organization Change is a response of the organization to the various forces within and external to it. Organizations exist within a society and therefore respond to various factors like the economic, the political and legal framework as well as various socio cultural factors. An organization is like a system and is constituted of various sub systems. However what determines an organizations sustainable competitive advantage is its ability to accept change and plan for it. The two major factors, which can influence an organizations strategy and its ability to survive and grow, are: Business Cycles and Industry Life Cycle. Business Cycles Just as a biological organism grows and dies, organizations too experience life and death based on the overall economic activity. Growth in the economy means a growth for the organization and slump in the economy may reflect in a slump in the business. However all organizations do not respond the Continue reading