MBA 755-Reflections on Module 3 Concepts
How could you use a Renewal Options diagram to better support the mission of your present organization?
The purpose of the diagram is to help brainstorm new ideas for renewal. It can help you think through potential options for approaching renewal strategies. For me personally, this diagram is so overly busy, I have difficulty using it to come up with any ideas. If it were simplified in some way, it might be easier to utilize.
When thinking about your own organization, which renewal choices seem to the most relevant?
Enhancement and reframing strategies are the two most relevant potentials. These strategies allow us to take existing products and introduce new value or new markets to the products.
What factors define a realistic renewal choice for you?
Financials are the most important factor. It is important to determine what a renewal choice is going to cost and what return on investment it will provide. Infrastructure needs to be reviewed to determine if it can support the needs of renewal without significant capital expense. Also important will be if the renewal choice meets the long term goals and objectives of the organization.
What could be the best way or ways to communicate renewal options to organizational leaders so that they are really heard?
In my organization, the way to communicate options or any business proposals is to have all the details well researched. Bringing an idea to the table with all of the possible financials is important to getting an idea heard. The executive team wants to know how the bottom line is going to be affected.
What practical uses do you see for situational analysis in your life?
Situational analysis can always be beneficial to looking at all aspects of an issue. It provides a means to look at multiple solutions to determine which is most effective.
MBA 755-Reflections on Module 2 Concepts
What long term trends are likely to significantly impact the industry your organization is in over the next three years?
My business is heavily controlled by the various metals markets. Steel, copper, and nickel are some of the primary drivers. As the steel market goes up or down, the volatility has a large impact on our margins and pricing. The trend for steel is hard to predict. The volatility of the market will definitely drive our overall performance.
How could you use the force field analysis tool in your own work life?
The force field analysis allows me to review upcoming market possibilities. Potential product offerings can be reviewed by using this tool so we can determine if the product meets the needs of consumers and the needs of our business. It will help us know if we are making decisions that will grow our business in the future.
How would you go about making a business case for renewal in your own organization?
Using a force field analysis would help identify opportunities. Then, one of the biggest things to do would be a value chain analysis. Reviewing all the elements that are a part of the business chain and analyzing the impact of change/addition. This would be the starting point, drawing up the presentation for the business case… taking a new idea and showing the effect it would have on renewal.
What items would show up as being both urgent and important if you constructed an urgency versus importance matrix related to organizational renewal for yourself? Important but not urgent?
Current issues that would be in quadrant 1 are crises that are affecting the business. The industry is recovering from a recent shortage of helium which affected one of our large selling products. Other elements that are affecting right now are meeting key retailer mandates for technology implementation. Quadrant 2 activities include pursuing backup suppliers for key products such as helium. This is a prevention option in order to not be risking business if another industry shortage takes place.
MBA 755-Reflections on Module 1 Concepts
What’s distinctive about the renewal stage of the organizational lifecycle?
The renewal stage is the “point of no return” for a business. It will either renew and reinvigorate or it will move into decline and closure.
What organizations that you are familiar with seem to be in the renewal stage? Why do you think so?
SBC/AT&T is a prime example. Many years ago, the telephone industry was broken up by the government and “Ma Bell” ended up being a series of independent, regional telephone service providers. In recent years, after a series of mergers and buyouts, SBC has now become known as AT&T. The old telephone service of days gone by is no longer viable. Through all these mergers, the “new” AT&T has added services to stay competitive with cable companies, who are now offering their own phone service. The “new” AT&T offers the ability to purchase home phone service, long distance phone service, cellular (formerly Cingular), and television (currently via Dish Network). They are also experimenting in some markets with fiber optic television delivery. This company shows definite signs of renewal in trying to adapt to meet the needs of the day.
What characteristics make a leader effective during this phase?
The leaders in this phase are strong decision makers. They know how to make the tough decisions that have to be made in order to move forward. Another important aspect of these leaders is that they are able to pull the company together. They are effective at communicating the news needed but keeping everyone focused on what needs to be done.
How would you recognize an organization in this stage?
Age is one factor. A review of product offerings/markets can also tell you if products are being renewed or declining.
Which of the conceptual tools for renewal presented in this module are of particular interest to you? Why?
I will have to research this question more. I’m not sure what “conceptual tools” this is referring to.
What else do you think that you will need to know in order to use these conceptual tools in your own work?
See previous question.
How could you use the ideas from the renewal stage to help you in your professional life?
My current business is one that is moving into the renewal phase. The ideas that we will review during this segment will be beneficial to help me understand what to watch for in our business. It should also allow me to make more educated decisions as to product design and marketing ideas that I have input on.
MBA 745 – Reflections on Module 5 Concepts
How comfortable are you as a leader in a mature organization?
I have more comfort in this level than some of the earlier ones. The mature organization requires more creative thinking on the part of the leader. Just like in the creation phase, which is probably my strongest phase, the ability to create solutions for the changing marketplace will drive the business further. At the mature point, though, there is a need for a little more organizational skills to manage the day-to-day of an aging business. That’s where my challenge comes in.
Did you feel that you could concentrate on improving efficiencies while remaining flexible to the ideas of your team members?
In general, yes. Our team was fairly supportive of one another’s ideas, so it wasn’t hard to focus on keeping our company efficient. Our business approach was to be the best cost provider. We focused our R&D monies into driving down our production costs while still maintaining the product the customer wanted. In the end, it proved to be the winning strategy.
Are you attempting to expand your knowledge base with or increase your depth in the focus you select to study?
Yes. I actually spent some time interviewing a person in the field about a week ago to gain more direction. I’m finding that there’s a lot of “directional” opportunity that needs to be researched more. In other words, once into the field, there are many directions that a person can choose to go.
MBA 745 – Reflections on Module 4 Concepts
What is your belief concerning one person performing the multiple roles of creator, accelerator, and sustainer? Do you feel you are capable of performing all of these roles? If not, which do you think fits you best?
I believe that one person can indeed perform these multiple roles, but it may not always be advantageous. In fact, it could be detrimental. Take Walt Disney, for example. Upon his death, the creative genius behind the Disney Company was gone. Disney struggled for years to try and recover after this loss. I think I could perform all these roles if necessary, but I would try and find someone to assist if t all possible. My strength is in the creative portions of the business, therefore creator and also sustainer are my best areas.
Do you think it is possible to avoid making the decision of whether to rejuvenate the business or close it, indefinitely? If so, how? If not, why?
While it might be possible, it is not recommended. It is my opinion that putting the decision off will just force the company into a decision. If a company is failing, putting off the decision to close just delays the inevitable. Most good business owners know when to “cut their losses” and move on.
-
-
About
This blog was originally created as part of an assignment to track my MBA journey. Hope you enjoy...
-
Archives
-
Blogroll
-
Admin