Write in complete sentences unless otherwise directed.
1. In order to manage change, we must understand what factors or forces influence change or bring about change. Your textbook lists some 7 forces that change how businesses operate.
Consider the 7 factors or forces listed below. Take each factor and give a "real world" example of how that particular factor has created the need for change in a company or organization or how this factor might create the need for future change. For example, wireless communication is an example of a technological advancement. Wireless makes files and data available to remote workers and to anyone, anywhere, any time. Technological Advances Global Economics Maturation of Existing Markets Development of New Markets Sociopolitical Developments Increasingly Intense Competition Increasing Influence of Stakeholders and Customers
2. Another factor of change is a shortened business cycle. We are forced to bring products to market faster, to make faster return on investments, and to develop new products more quickly. In one paragraph, explain why a shortened or shrinking business cycle would create problems for many firms.
3. Service is the last activity in the "Value Chain." In one or two paragraphs, explain how service adds value to a firm's products and customers. You should use an outside resource to prepare your response.
4."Failure to anticipate and mitigate circumstances that might impede the success of change initiatives is why so many initiatives fail." From a business manager's perspective, what does this mean? In your opinion, how important is communication in a change initiative?