Capstone project begins!
Holy cow, I can’t believe I’ve come this far already. I have completed all my “study” courses of my MBA and now begin my research, culminating in a capstone project. I was getting a bit burnt out, but the three week Christmas break was helpful. I’m excited and ready to get this MBA completed!
If I had to do this over again, part of me would not have chosen an accelerated MBA program. Franklin’s Vantage MBA is an awesome program, but it is very intense. The part of me that likes the accelerated program is because I’m not stretching the thing out over 3 years.
Wish me luck, I have a feeling the hardest part of the adventure is just beginning!
MBA 765 – Reflections on Module 4 Concepts
How may the implementation of action steps differ in the closure stage from the prior stages?
Action steps in this stage often involve things such as closing a facility, downsizing a division or merging with another company, just to name a few. These steps have to be carefully planned out, in that there may be a limited number of employees available or the company may need to move carefully in order to not leak information prior to the appropriate times. Communication is always the key. Keep the necessary people in the loop and don’t bring in anyone else than those who are necessary to the process.
What types of personal and professional risks do leaders run into while attempting to complete the closure process?
From a professional perspective, a closure leader runs the risk of destroying his business reputation. If things are handled improperly, the “black mark” may potentially never be erased from his resume. It could keep him from moving on to new positions. He may also be looked on as a poor leader if he ran the company down. From a personal perspective, leaders could potentially be faced with threats of violence or even death on their lives. “Mob mentality” unfortunately can sometimes prevail and disgruntled employees may make poor choices.
An interesting note is that there are some leaders who “specialize” in closure. They are brought in specifically to close down companies and paid to be “the bad guy”.
What type of closure implementation activity would you find to be the most personally difficult? Why?
For me, releasing employees and having to communicate that release would definitely be the most challenging. Having to deal with the human factor and all the emotions involved is very difficult for me, as I am much more on the people side of personality profiles.
In what ways might the closure stage actually not be final?
A good example would be the go kart case study in this module. The CEO/Founder decided it was time for her to move on to “greener pastures”. The company was still a viable business with opportunities for growth. In this case, the business might potentially be sold to another owner who would maintain the business, simply under new ownership.
Should particular kinds of stakeholders be given priority in obtaining the remaining organizational assets? Why?
Using a bankruptcy as an example, typically the lienholders or debtors get first assets to offset their investment into the business. In most cases, the bank gets first dibs. If excessive loans are outstanding, they are attempted to be paid first. Then the debtors to the business, bondholders, would come next. If anything remains, the stockholders would get final payback. Whether or not this priority is right or wrong, it is the way most things get handled.
MBA 765 – Reflections on Module 3 Concepts
When choosing the best option for organizational closure, what categories of selection criteria seem particularly important to employ?
One of the most important categories of selection criteria to utilize is reviewing alternatives. When closure looms, it is in the best interest of the organization to pursue all alternatives. There may be other possibilities than simply closing the doors, so every alternative should be pursued. The company should also be aware of what assumptions are being made. Assumptions can often lead to bad decisions. Everyone should be operating off the same set of facts, not assumptions.
Where would you look for possible organizational closure strategies?
There are many strategies that can be employed during closure. Outright closing down the business is obviously one choice, but many other strategies exist. Perhaps a sale of the business to another more profitable organization might be the key. Or more beneficial to the closure organization may be looking into mergers or joint-venture opportunities. These would allow the business to continue providing products, just under new names.
What are the dangers involved with identifying and selecting among closure options?
Probably the biggest danger is selecting the wrong option. Reading the facts wrong or making incorrect assumptions could lead the business to make closure choices that may not be necessary. The organization might choose to close its doors because no research was done that would have shown a viable opportunity in a merger. Closure is often done without a lot of research because companies are on the verge of financial meltdown. This can result in hasty decisions being made with little or no review.
What emotions are likely to surface during the process of identifying and choosing among options? How would you deal with them?
Probably the biggest emotion that will surface is dealing with the “human factor”. Most people are very emotionally attached to those they work with, and often managers are very tied in to their reports. When options for closure are chosen, the well being of employees can often be an emotional factor that will surface. In these cases, I would try to find the best middle ground possible. I would do everything in my power to select an option that will meet the closure needs of the company but will also take into account the well being of employees.
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.
-
-
About
This blog was originally created as part of an assignment to track my MBA journey. Hope you enjoy...
-
Archives
-
Blogroll
-
Admin