CHANGE
CHANGE
Refers to the modification or transformation in the way business is conducted as a response to internal factors or external influences.
Competition, new technologies and markets, and trends in consumer behaviour lead business organizations to adapt their objectives, strategies and operations.
Success emerges from the ability to research and respond to signals in both the internal and external environment.
Related BM Units
1.3 Organizational objectives
2.1 Functions and evolution of human resource management
2.2 Organizational structure
2.6 Resistance to change
3.1 Sources of finance
3.7 Cash flow
4.2 Marketing planning
4.3 Sales forecasting (HL only)
4.4 Market research
5.6 Research and development (HL only)
5.7 Crisis management and contingency planning (HL only)
TOK CONNECTIONS
How do changes in the world bring changes in knowledge?
How do human scientists decide between competing knowledge claims, or between the views of experts, when they disagree?
What is the role of individuals in bringing about major changes in the theory and practice of business management? How does this compare with individuals’ role in bringing about change in other areas of knowledge?
To what extent have views on whether humans act rationally when making economic decisions changed over time?
What is the relationship between reason and other ways of knowing in business management?
Jamboard, Class of 2024
We're Living History
The Coronavirus provides most valuable lessons in Change.
Evolution & Change in the Workplace
"Few people have more insight than Nadella into how teams collaborate and innovate successfully.
HBR editor in chief Adi Ignatius interviewed the Microsoft CEO to discuss what team collaboration will look like going forward, the next generation of workplace technology, the new imperatives of leadership — and whether and when our future workplaces will in fact start to look like the “metaverse” fantasies of science fiction". (HBR, 2021)
To answer the question: what is the biggest source of innovation, Satya Nadella says:
"Empathy. Being able to put ourselves in other peoples shoes...it is the heart of design thinking"
Are you driving changes or are you being driven by it?
"Disruption has become the new normal" says a Futurist Gerd Leonhard. "Business as usual is dead. Increasingly, science fiction is becoming science fact. Exponential technologies are rapidly changing our lives and societies, every day, everywhere. We will need different skills, and we will need to get much better at driving change - or we will be driven by it.
Most importantly, we should embrace technology but not become it. Anything that can be digitized or automated, will be - and anything that cannot be digitized or automated will become extremely valuable. Lastly, we must go beyond technology to define real human values in this new digital ecosystem. " (Leonhard, 2016)
Featured Article
Meet adaptability quotient (AQ).
"There are those who predict that IQ and EQ will take a back seat to AQ, which will become the primary indicator of success, tied to how we’re able to keep up with constant change." (
Featured Case Study - Explore the evolution of Kodak Advertising...
Spot the differences
First - 1950s
1960s
1970s
1980s
2000s
2010s
Last - A Social Message Goes Viral
What happened to Kodak?
BM Unit 1: Business & Ethical Objectives, Growth, External Environment, CSR, Force-Field Analysis
BM Unit 2: HR Management, Leadership & Management, Corporate Culture
BM Unit 4: Market Research, Marketing Objectives, Branding, 4Ps
BM Unit 5: Location, R&D, Innovation
CUEGIS Connections:
How does resistance to Change affect growth Strategies & Innovation?
How does Ethics & organizational Culture impact human resource Strategies?
2016
After Kodak Moment
"Kodak has prioritized its patent portfolio and the Eastman Business Park since it declared bankruptcy in 2012. Despite some success, the company might never live up to the legacy of its own past.: Watch the video: After the Kodak Moment
In a world with so much uncertainties...why do we resist Change?
Resistance to change - Movie clip from 'New in Town'
BM Unit 1: Business & Ethical Objectives, CSR
BM Unit 2: HR Management, Leadership & Management, Corporate Culture
John Kotter - Resistance to Change
Dr. John Kotter had expressed strong views on how leaders & managers need to deal with resistance to change.
What do you thing about Kotter’s view? Do these ideas fit today's world? What are the ethical implications? Critically think & discuss…
