MBA 765 – Reflections on Module 2 Concepts
What are some of the most critical decisions leaders must make during the closure stage of the organizational lifecycle?
Probably the biggest issue is more around the timing of the decision and not the decision itself. There are many decisions to be made… financial solvency, human resource headcounts, marketing, and liquidation are just some of the areas that will need addressed. The big question comes back to when is the time right to close things down. Jump at the decision too early and a rejuvenation opportunity may be missed. Make the decision too late and the repercussions could be much larger than if the decision was made at the correct time.
Under what conditions do rational logical decision making methods appear to work best?
Rational logical decisions seem to work best when there are solid factors to utilize. These decisions are usually around financial implications or number driven decisions. When definitive answers can be derived from the data presented, a rational approach is best.
Under what circumstances do more intuitive approaches work best?
When people and emotions are involved, an intuitive approach may often be best. There has yet to be an “intellignce” created that will mimic the dynamic human psyche. People understand people… the data does not always understand the human-factor. When a person has first-hand knowledge of an industry or the needs of the people in that industry, his or her intuitive approach may best serve the company when making a decision.
Which of the tools presented in the module has a particular appeal to you? Why?
The balance sheet is quite similar to tools I already use. I will frequently use a pro/con T-chart when looking at decisions. The balance decision sheet just adds additional criteria and depth to this T-chart. It allows more expansion on the details of why a solution may or may not be best.
How might you apply the tools presented during the module to a situation that you are now facing at work? At home?
The fishbone diagram has a lot of potential merit in helping explore all areas of a problem and identifying possible overlooked issues. I will probably begin to utilize it in some form as I move forward in business. As mentioned previously, the balance decision tool will also add to what I already utilize.
MBA 765 – Reflections on Module 1 Concepts
What appears to unique about the closure stage of the organizational lifecycle?
Each of the six phases of a business lifecycle require varying leadership styles and traits to successfully maneuver them. One of the unique facets of closure is that now the business leader is no longer working to grow the business or develop it. Instead, he is focused on bowing out gracefully. This phase requires a lot of skill in people management as well as financial skills in closing out the books.
What closure stage issues appear to warrant particular attention from company leaders?
Truthful disclosure and ethical practices. Far too many Enron-esque situations in the marketplace show how devastating unethical business practices can be. A company needs to make sure that strong ethical policies are in place to address these potential issues.
What critical ethical issues need to be dealt with at this stage?
By far, truthful disclosure is the biggest issue to deal with. Companies must deliver truthful information to both it’s employees and it’s shareholders.
How might I creatively express what I have learned in the MBA program to an audience of my peers?
Doing some type of presentation comes to mind. Perhaps a luncheon type setting with a Powerpoint style show. Or maybe a television-style show or even a webcast show. These are areas where I could excel in delivering info.
MBA 755 – Reflections on Module 6 Concepts
What is it that appears to make implementation of a renewal strategy so difficult?
In general, the need for change is one of the biggest challenges. People do not like change and renewal almost always requires a change in the way things are done. Also, renewal often requires a stab at the unknown… will the new strategy truly be what the customer wants and reinvigorate the company?
Which of the identified implementation pitfalls have you observed in your own experience with organizations?
One of the biggest pitfalls I’ve seen is a failure to give due diligence to a process or strategy. Oftentimes, decisions are made by one department without consulting others to see the impact. A great example came from a previous employer. Their marketing determined there was a great product to be released to the marketplace. So marketing undertook a big R&D initiative and came up with this outstanding product idea. Marketing sold the idea to executive leadership. The product was going to do great things for the company… but no one bothered to pursue engineering’s testing for the long term. The product ended up failing more often than it operated… and the company ended up with a huge recall and product refund on their hands. If all departments had communicated strongly, this may have been avoided.
How did the pitfalls impact the overall outcome of the change implementation?
As mentioned already, the product ended in failure. There was no renewal achieved from this “great” new release.
What elements of the implementation process seem particularly relevant to your own experience?
One of the biggest areas where I see a need is to develop strong communication plans. In my current organization, when changes are to occur, there is lots of communication to answer the five “W”s. The employees know why something is happening and are not left out. In implementing a new direction, I see the communication of these changes being the most critical step. If employees are educated as to why a change is being made, in most cases they are more willing to work with that decision.
How does communication fit into implementation planning?
See my previous response. When there is a lack of communication, people become suspicious of everything and will often not perform up to the task.
Which aspects of change theory seem particularly useful during renewal implementation? Why do you think so?
One of the biggest is a need to get away from complacency or to address the “irritant”. Something is not working as it is, so the need to fix it or recreate it becomes stronger than the need to maintain it. This leads to renewal.
What could you do differently as a result of your learning in implementing a change in your own organization?
Develop better communication materials. Better inform the entire team of why a change is being implemented. Also make sure everyone on the team recognizes their importance in the change process.
What strategy did your team decide to adopt during the renewal stage of the simulation?
We focused on an enhancement strategy in order to provide better value to our loyal customers. We also adopted the generic strategy of being the best cost provider.
How did the strategy work?
Quite well, as we had the highest shareholder value among our competitors.
What concepts from the course did you see reflected in the game play?
Mostly the ability to use conceptual tools in order to see how our options would play out. The ability to think through our strategy and it’s ramifications were very beneficial.
What could your team do differently if you were to play the simulation again?
Mostly focus on better understanding of operations required to maintain product. We were somewhat inefficient in estimating the facility and employee capacities needed to produce the product.
MBA 755 – Reflections on Module 5 Concepts
What trend and pattern information does your organization pay attention to?
The market trends that have the most effect on my current organization are those in the steel market and petroleum products market. Our products are made mostly from steel, therefore trends in that market will have the largest effect on our bottom line. Many of our products are also filled with products derived from petroleum refineries, such as propane or helium. Any problems in these markets will also have the most effect on our production.
Could scenario planning be effectively used in your organization?
Scenario planning has been and is efffectively used in my company. It provides a means to be proactive and have an idea of what decisions might be necessary in the future.
In what ways could you personally use scenario planning?
Personal life scenario planning is somewhat accomplished by reviewing potential needs in the event of unexpected illness, injury, or death. Insurance planning is often done as part of this planning where one looks at “what if this happened?” Would my spouse work or not? Would the kids get a college education? What if my house burned down? And the list goes on and on… By looking at these potential scenarios, I can better plan for the future.
What do you see as the principal disadvantages of employing the scenario approach to strategic planning?
The biggest disadvantage in my opinion is that you can never simulate everything. There is always a “people factor” involved, and people are dynamic. Thoughts, wants and desires change. People change. And there is no software that is yet sophisticated enough to run through every possible human reaction.
MBA 755 – Reflections on Module 4 Concepts
Which of the change models you were introduced to seems to make sense to you? Why?
Of the three that we reviewed, the empirical-rational model and the normative-reeducation model both seem to make the most sense. I agree with the assumption that people, for the most part, are rational thinkers. If an idea for renewal is presented with the understanding that the idea just “makes sense” from a rational thinking perspective, people are generally going to work to achieve the idea for renewal.
What criteria seem to be particularly appropriate for use in selecting an option for organizational renewal? How could your choice of criteria vary if the organization was a non-profit? A unit of government? A for-profit enterprise?
In my opinion, the most important criteria to consider is how the renewal fits in to the company mission and vision. Even if an idea is new and invigorating, if it is totally against the plans for the company, it really serves no purpose. This holds true for all sectors. Other criteria that can come into play include the capabilities and resources of the company… can it handle the renewal effort? What kind of costs will be involved with rolling out the renewal? Will they be recouped in the process? What are the people in the company like in terms of change acceptance? Will they adjust or fight? Finally, is the renewal effort one that is sustainable?
In what ways does the renewal stage apply to a project instead of an organization?
Projects have lifecycles similar to that of organizations. A project has a creation phase and goes all the way to completion, if it’s a successful project.
Projects can often get stalled along the way, though, by many internal and external factors in the business. Just as an organization may need renewal of its products to keep going, so also a project may need methods for rejuvenation. Finding ways to encourage those involved in the project to get back on track may require looking at multiple sources for renewal, just like an organization’s renewal.
What are some other ways to make the renewal option choice other than by comparison against pre-selected criteria? Under what conditions may these ways be preferable?
Sometimes it could simply be a “gut-feeling”, although it’s not recommended. Sometimes a renewal option could also be forced on the business, either by merger/takeover or possibly a change in command. In a situation like this, power is used to force a renewal option, whether or not it has been tested against any other benchmark. This may be a preferable scenario in the situation where a company is failing because of poor leadership and the new leadership does not have time to review options. They are simply brought in as change agents and have a plan of what must be accomplished.
What traps await the renewal option decision maker?
Preconceived ideas. The decision maker needs to utilize tools available to him/her in order to review all aspects of the decision before it is made. Making a decision because it is a preconceived notion without having all the facts can result in failure of the renewal plan.
How does the process of making renewal options apply to your own life?
In terms of my business, I am involved with some marketing functions. We have product lines that are quite mature and require refreshing every so often to interest new customers. Having a proper perspective on renewal can definitely provide me with better insight when reviewing new marketing ideas.
As to personal life,pursuing my MBA is one way of having a renewal option. It will allow me to create a transformational strategy, giving me a way to introduce a new product to new markets.
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This blog was originally created as part of an assignment to track my MBA journey. Hope you enjoy...
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