Thursday, November 28, 2019

Change Management Case Study

Background of the Organisation Organisational change comes about because of a company’s need to stay relevant and competitive in its respective industry. Change occurs when an organisation realises that its structures, principles and strategies are no longer as efficient as they should be. Following, is a case study of an organisation going through the process of change to ensure its survival.Advertising We will write a custom essay sample on Change Management: Case Study specifically for you for only $16.05 $11/page Learn More Suppose ABC Ltd is an organisation in the telecommunication industry. It operates in Asia, specifically India. This industry has two key players only: ABC Ltd and XYZ Ltd. ABC Ltd was the first to venture into the industry in the early 90’s. At this time, mobile phones were uncommon in this area and remained a preserve of the rich and the upper middle-income earners. In light of this, the company formulated its strat egies in a way that targeted the high-end market only. Its target customers, therefore, ranged from upper middle-income earners to high-income earners. While still a monopoly, this strategy continued to work efficiently with the company reporting growth in profits and experiencing a period of stability. In the late 90’s, XYZ Ltd decided to try its luck in the market. This is in light of the high returns and the vast opportunities that the industry offered. It, however, adopted a different strategy. XYZ Ltd recognised the fact that a large percentage of the population consisted of low-income earners. Its aim was, therefore, to capitalise on its competitors weaknesses. It set out to ensure that even the very poor people enjoy calling services. It tailored its products to suit everyone irrespective of their incomes. However, this strategy was short-term. Once the company had attained the desired market segment and achieved customer loyalty, it would raise its prices by a small m argin (Millmore, 2007). Consequently, ABC’s profits started falling and after a while, it started reporting losses. Its market share was also on the decline. Its management quickly recognised the need for change. It had to look for new ways to overturn the losses and win back its customers’ loyalty. In short, the problem was that of making losses and reduced customer loyalty. The strategy was to charge lower price compared to the competitor for its services. This would win back its customers and consequently lead to profits. This change would require a large financial outlay (Heuser, 2010).Advertising Looking for essay on business economics? Let's see if we can help you! Get your first paper with 15% OFF Learn More The Change Process Assuming ABC Ltd’s management decide to draw from Greiner’s six-phase change process, its change process would be as follows. Greiner identified the first stage as pressure and arousal. This meant that for the change process to begin, top management needed to be subjected to either internal or external pressure to change (Armstrong and Kotler, 2011). In our case, the company’s management was facing external pressure from XYZ Ltd as their competitor. The internal pressure came from the fact that they faced the task of explaining to the owners why the company was making losses. The second stage was intervention and re-orientation. This stage required management to work with an expert. The expert could be an outsider or a person working for the company. The catch was that, this expert had to report to the highest level of management. It was feared that management would simply ignore the problem if an expert were not involved. ABC Ltd therefore required a marketing and sales expert. The third stage called for recognition and diagnosis. It would involve the top management and the marketing and sales expert working with the low-level employees. They would carry out tasks in fact finding and problem solving. The importance of this stage would be to identify the various problems faced. In this case, the problems were reduced market share and the company was reporting losses. The fourth stage was invention and commitment. It would also require top management to work with both the expert and low-level managers. It would entail coming up with solutions to the problems identified. For this company the solution would be to cut on costs as it was making losses and its new strategies required a large financial outlay. It could do this by doing away with wasteful activities and taking away, some of the unnecessary benefits it provided for its employees. The importance of using the shared approach here was to avoid resistance later and simplify the implementation process (Carnal, 2007). The fifth stage was experimentation and search. Here the solutions made in the previous phase would be subjected to a series of test runs in some parts of the organisation. The last stage woul d be reinforcement and acceptance, which would entail introducing the changes on a large-scale basis throughout the organisation. This being the implementation stage, the company is bound to encounter some difficulties, which will be discussed below (Kaplan and Cooper, 2009).Advertising We will write a custom essay sample on Change Management: Case Study specifically for you for only $16.05 $11/page Learn More Pitfalls in the Implementation Stage There are potential pitfalls that the organisation needs to consider during the implementation stage. Resistance to change is one of the key limitations. Resistance to change may be caused by a number of reasons. Primarily, resistance may be due to the lack of understanding on the part of employees. Employees may not understand why management sees change as necessary. The workers may also not understand the consequences of the changes introduced. Secondly, the employees may view the change as a threat to their job security. Self-interest on the part of employees is also a very big contributor to change resistance. Employees tend to resist change if the goals that the change aims to achieve are not in line with their personal goals. Lastly, failure of the management to make known their plans to the employees may lead to resistance, as most employees prefer stability rather than surprise. Another pitfall apart from resistance to change is that, once the change is implemented, there is always a chance that it may not bring about the changes that management desired (Kouvelis et al. 2006). Advantages of the Change Process Like any other process, the change process has its own advantages. Its success all depends on how management handled the change process. If the change process is handled effectively, then it yields vast benefits to the organisation. In the case of ABC Ltd, the advantages it would enjoy include change generally has been known to lead to increased profits. In ABC Ltd, effective change would see them turn over a new leaf which would see them report profits rather than losses (Green, 2009). Secondly, if ABC Ltd were to draw from Greiner’s six-phase model, which advocates for the shared approach, there would be increased employee involvement Hayes, J. (2010). This would give the employees an opportunity to voice fresh ideas. In short, change can be a great source of motivation for the employees. Effective change would also see ABC Ltd experience a growth in its market share especially since it competitor, XYZ Ltd is only planning on using their strategy on a short term basis(Green, 2009).. Change also gives the organisation an opportunity to grow this is necessary, as it would ensure that ABC Ltd survives in the face of stiff competition. Another advantage is that change allows for the development of both the employees and management (Green, 2009). Change keeps everyone in the organisation on their toes, as they have to keep coming up with new strateg ies to ensure their survival. In light of the development of employees and managers, change consequently leads to increased creativity and dynamicity in an organisation (Campbell, 1998).Advertising Looking for essay on business economics? Let's see if we can help you! Get your first paper with 15% OFF Learn More Disadvantages of the Change Process Limitations brought about by the change process are normally pegged on lack of proper handling of the process by management. This is not always true, as some disadvantages cannot be avoided. A major disadvantage of change is that, more often than not, it leads to resistance. In the case of ABC Ltd, the risk is higher as they are looking for ways to cut costs (Carnal, 2007). Therefore, assuming they do this by taking away some of the benefits given to employees, management may end up facing resistance from all sides. Change may also leave the organisation in a worse off place than before. With the need for ABC Ltd to change, comes along the need for a large financial outlay. For a company that has been reporting losses, this becomes very hard. They have to look for other ways of raising the money, as the revenues they get cannot even cover the costs of production. Change is inevitable; it ensures a company’s survival in the dynamic environme nt (Carnal, 2007). Reference List Armstrong, G. Kotler, P. (2011) Marketing: An Introduction. New York, USA: Pearson Prentice Hall. Campbell, D. (1998) Organizations and Business Environment. Oxford: Legoprint. Carnal, C. (2007) Managing Change in Organizations. Essex: Pearson Education. Green, M. (2009) Making Sense Of Change Management: A Complete Guide to the Models, Tools and Techniques of Organizational Change. New York: Wiley. Hayes, J. (2010) The Theory and Practice of Change Management. Harvard: Harvard Business Review. Heuser, B. (2010) The Evolution of Strategy: Thinking War from Antiquity to the Present. Cambridge: Cambridge University Press. Kaplan, R. S., Cooper, R. (2009) Cost and Effect: Using Integrated Cost Systems to Drive Profitability and Performance. London: Harvard Business School Press. Kouvelis, P. et al. (2006) Supply Chain Management Research, Production, and Operations Management. Review, Trends, and Opportunities. In: Production and Operations Managemen t, 15.3: 449–469. Millmore, M. (2007) Strategic Human Resource Management: Contemporary Issues. Essex: Pearson Education. This essay on Change Management: Case Study was written and submitted by user Rex Lindsey to help you with your own studies. You are free to use it for research and reference purposes in order to write your own paper; however, you must cite it accordingly. You can donate your paper here.

Sunday, November 24, 2019

investing 101 essays

investing 101 essays UNDERSTANDING SECURITIES AND SECURITIES MARKETS The Fed exercises control over money and financial markets using a limited range of indirect tools: open market operations, discount rates, reserve requirements, and margin requirements. Open market operations - consisting of the buying or selling of US government securities, usually on a short-term temporary basis, to either reduce or increase the amount of free cash in the system - are the most frequently used means of fine-tuning financial activity. (The sale of securities reduces cash in the system while the purchase of securities adds actual cash to the system, allowing banks to fund loans.) Most such transactions are conducted through repurchase agreements, which are agreements to buy and then resell securities over a specified period, often as short as overnight. [Bureau of Public Debt] DIFFERENCE BETWEEN COMMON STOCK, PREFERRED STOCK, AND BONDS Common Stocks Common stocks constitute the majority of equity securities. These instruments represent a comparative share of ownership of the net assets of the corporation. Common stocks may or may not pay cash dividends, which are usually based on the level of profits. US corporations usually declare and pay dividends quarterly on a regular schedule, although they may declare special dividends at other times. Dividends may also be declared in additional shares of stock. Common stock carries with it limited liability, because shareholders cannot lose more than the value of their investment and are not liable for excess debt, losses, or judgments against the corporation. Common stock may be issued with a par value or with no par, or base, value; as a practical matter, this issue is of no concern to the shareholder. In general, common stock is freely transferable and can be bought by anyone and sold to any willing buyer. Some stock issued or used for special purposes is known as restricted stock, which cannot be sold or otherwise t...

Thursday, November 21, 2019

How is immigration affecting the united states Research Proposal

How is immigration affecting the united states - Research Proposal Example Scholar denotes that prior to the year 1965, the formula used for admitting immigrants into the United States was only restricted to people from Western Europe. Anderson (36) further goes on to denote that on a historical note, naturalization and immigration has always been limited to people who are white, i.e. the Caucasians. However, this ethnic and racial allocation of came to an end during the periods of the 1960s. This is because of the emergence of the civil rights movements, which greatly advocated for the rights of the minority, and the racially disadvantaged people (Heyman, 11). Because of this civil rights movement that occurred in the periods of the 1960s, the first generation immigrant’s number greatly increased, from about 9.6 million people in 1970, to approximately 38 million people in the year 2007. Between the years of 2000, to the year 2010, scholar denotes that the number of immigrants who entered United States was about 14 million people. Of these 14 millio n people, more than 1 million people were able to acquire citizenship through naturalization in the year 2008. Moses (324) denotes that immigration has some positive and negative effects on the American community. One of the major effects of immigration is the rise of population growth in the United States. According to an estimate by the Census Bureau, the population of United States will reach 397 million people, by the year 2050. This is when immigration is factored in this growth. On the other hand, when immigration is not factored, the bureau estimates that the population growth of the United States will only reach 328 million people. In another study carried out by Pew Research center, it estimates that the population growth of United States will reach 438 million people, from the 296 million people that it had in the year 2005. This is because of an increase of immigrants in