Topic: Business Discussions

Topic: Business Discussions Order Description Discussion 1: Coping With Change: Change Management Models and Philosophies Amateur and professional cooks who enter competitions will often spend hours searching for just the right ingredients for the perfect recipe. They have likely formed philosophies about cooking and food that either consciously or unconsciously guide their efforts. After they are satisfied, they present their dish to judges and tasters, who often try to guess the secret ingredients in the winning recipe. In a similar fashion, change management researchers spend considerable time trying to find the perfect recipe or model for managing change because they realize that managing change effectively can mean the difference between business success and failure. To test assumptions based on underlying philosophies about change, researchers carefully analyze businesses that have successfully or unsuccessfully managed change. Using these analyses, they put forth models as their recipes for change management. A multitude of sometimes conflicting philosophies and models has emerged. Business professionals, searching for advice on effective change management, must be knowledgeable about the models available in order to choose a model or combination of models that best aligns with their own philosophies and beliefs about change. ¢ Consider both successful and unsuccessful organizational changes of which you have been a part and the ways they support or refute the philosophies and models offered by this module’s Learning Resources. ¢ Your experience with organizational change could be as small as dealing with a change in your day-to-day routine or as large as dealing with a corporate merger. ¢ An explanation of what you believe to be the drivers of organizational change. Then, identify the keys to successful organizational change. Discussion 2: Crisis Management For many, the term crisis management may bring to mind examples of disastrous situations brought about by organizational wrongdoing or situations in which the aftermath was handled so poorly that the mishandling resulted in the downfall of the organization. Such events certainly receive ample coverage in the media. However, Professor Ken Brumfield (2012) offers two examples that provide a stark contrast to this prevailing image. He details two instances in which skillful planning and execution during a crisis resulted in the saving of lives. He tells how investment firm Morgan Stanley was able to successfully evacuate all but 6 of its 2,500 employees safely from the World Trade Center on September 11th, before the second plane collided with the towers. He also explains how, through its flexible leadership and quick response, the U.S. Coast Guard was able to rescue 1,200 people following Hurricane Katrina, while organizations around them floundered. These striking tales provide the impetus for reexamining the definition of crisis management, its relationship to business, and how effective crisis management can yield positive results. ¢ Locate a scholarly peer-reviewed article related to your specialization and consider personal organizational crises in which you have been involved or by which you have been impacted. Your personal experience with organizational crisis can be as small as missing a deadline or as significant as handling a natural disaster response. ¢ An explanation of how crisis management relates to business, and a 1-paragraph summary of your personal experience with organizational crises. Include an explanation of how your personal experience with crises contributed to your definition of crisis management. Also, write a 1-paragraph summary of your article and an explanation of the article’s contribution to the study of crisis management in business. Finally, make a recommendation for how a company might avoid negative impact from a crisis based upon your article and your experience. Discussion 3: The Innovation-Entrepreneurship Relationship Both innovation and entrepreneurship are widely touted as essential components of business and economic growth, as reflected in the quote above. Discussion of the topics is almost unavoidable in business and government circles. Because growth in entrepreneurship and increased innovation are goals that are often pursued simultaneously, a better understanding of the relationship between innovation and entrepreneurship has widespread practical implications for business. However, professionals and researchers from every facet of business continue to disagree on the precise definitions of both concepts, much less the relationship between them. Researchers also debate the overall impact of entrepreneurship and innovation and the factors that promote them. Nonetheless, as more professionals engage in this debate, the academic and professional business communities gain valuable insight into this important relationship. These insights have implications not only for business and society as a whole but also for individual business professionals who make decisions on an everyday basis. ¢ Give an analysis of the relationship between entrepreneurship and innovation and the implications of this relationship for individuals and organizations. Explain how this relationship impacts your personal approach to risk taking and the way your personal strengths reflect the relationship between innovation and entrepreneurship.

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