What measures should be taken in order for a company to be classified as an organization of tomorrow? With the constant evolution of technology and ever changing consumer preferences it takes an organization tremendous effort to remain competitive. In order for an organization to stand the test of time there are three questions that always have to be answered “Where are we now? Where do we want to go? And how do we reach our goals? (Thompson, Pg 3) Answering these three questions effectively is the start of something good but it takes much more than having a plan. In order for a Corporation to be considered as an Organization of tomorrow it must develop a true strategic thinking process, be mindful of environments, technological changes, patterns and themes, and possess a strong employee environment.
To begin, there is little to be gained from developing a plan but a tremendous amount of momentum can gained from a well thought out strategic plan as well as the implementation of the plan. Strategic thinking helps an organization meet head on the challenge of building strategy. It helps an organization apply the latest strategic insights and approaches and accurately assess the competition in an industry.(Receiving an Executive Education, Pg 1) In addition, well thought out strategies followed by strong implementation can help make organizations more competitive and better equipped to deal with change within an industry. Strategic thinking examines a variety of options for growth, including alliances, acquisitions, and internal corporate ventures. These types of options for growth helps organizations do things such as get into critical markets quickly, accelerate the process of building a potent global market presence and gain inside knowledge about unfamiliar markets and cultures. Furthermore, alliances, acquisitions, and internal corporate ventures help an organization access valuable skills and core competencies as well as master new technologies.(Thompson Pg. 146) As a result costs are reduced, and market shares and profits are increased. (Gamble pg. 144) These are few of the many positive results of implementing a well thought out strategy plan within an organization. Managers must continually develop new ways to create and capture value in order to remain successful. A good strategy will help an organization along with this process. (Brickley, Pg 25-26)
Moreover, the ability to be mindful of environments, technological changes, patterns and themes can mean life or death for an organization. If an organization is not mindful of these things it will eventually die. For example, if a company decides to enter another geographic area and has not researched the tastes, preferences and needs of the target market in that area the effect can be disastrous. One example of this is displayed with the Wal-Mart Corporation. In an earlier Case Analysis I concluded that Wal-Mart has a strong presence in the international market but it could be much stronger. Wal-Mart is taking in consideration the customs and culture of other countries. Wal-Mart wants to push their way on other cultures not taking in consideration that adjustments need to be made from country to country. What is suitable in the United States is not always appealing in other countries. Wal-Mart inability to be flexible and adapt has hurt their sales tremendously in Germany which as a result has slowed their growth rate.
Furthermore, if a company wants to position its organization for tomorrow, it needs to tackle today’s technologies and processes that generate resistance to change. Among the biggest challenges businesses face today is reducing the complexity of technology. Some say that technological change is the only constant in the business world of today. Technology is not just contained within the World Wide Web, computers or the Internet. Technology is integrated into all aspects of business. A few examples of uses of technology in the business world include teleconferences, automatic re-ordering of needed parts to sales presentations on laptops. An organization without the knowledge of the latest technology will be left behind. Companies that expect tremendous past performance to shield them from the forces of change driven by advancing technology will fail. Darwin’s Survival of the Fittest applies to businesses as much as it does human beings. (Brickley, Pg 11) An organization must be aware of the changing patterns and trends of an industry. Experimenting, improvising, and learning from past mistakes helps improve a company’s outlook for the future. Reacting, anticipating and leading change are three ways to help ensure success. Industry leaders are proactive agents of change. (Thompson, Pg 124)
Furthermore a strong employee environment is vital if a corporation wants to be considered an organization of the future. Today's high velocity business environment makes increasing demands on managers and workforces, as competitive standards rise and expectations of individuals increase. Managers must respond positively to changes in contemporary workforce attitudes if they are to get the performance levels they need. In addition, good employee relations are not only desirable, they are necessary to help reduce absenteeism, avoid costly disputes and harness goodwill to achieve optimum performance, commitment and effectiveness. (Diversity in the Workplace, Pg. 1) Management and employees needs to increase efficiency, productivity and profitability. Another part of having a strong employee environment is having a diverse and experiences workforce. Businesses have started to recognize diversity in the workplace as a business strategy that maximizes productivity, creativity and loyalty of employees while meeting the needs of their clients or customers. If a company is only as good as their employees, then it stands to reason that a great deal of energy should be devoted to hiring the most talented individuals. By branching out to a diverse workforce, employers have access to a greater pool of candidates thereby improving the odds of hiring the best person. In a competitive marketplace, an organization that puts people first - regardless of their race, religion, gender, age, sexual preference, or physical disability has an advantage over the other players. (Rice, Pg1-2)
Just as the workforce is becoming more diverse so is the market. Employees who mirror the customers that are served can benefit an organization since they will feel as if they hold a common ground. Furthermore, employees with different perspectives can help provide companies with a holistic view of the market identify unmet needs and identify new opportunities. As the value of diversity continues to grow in the business community and elsewhere, recruiting and retaining diverse employees is becoming even more important to continued organizational success. (Diversity in the Workplace. Pg 1)
Recruitment and retention of valuable employees is now recognized as one of the most important issues facing corporate America. By creating an environment where all employees feel included, represented and valued helps to produce greater employee commitment and motivation. It also means fewer resources spent on training and turnover. By recognizing employees’ uniqueness and appreciating their varied perspectives helps ensure an inclusive work environment where awareness of, and respect for, different cultures is promoted. (Employee Relations, Pg.1)
In conclusion, much is required for a company to be considered and organization of tomorrow. An organization must have a clear picture of whom they are, where they want to go and how to achieve their goals. Darwin’s theory of Survival of the fittest applies to corporations as well as human beings. In order for an organization to stand the test of time they it must possess the ability to adapt. An organization of tomorrow must develop a true strategic thinking process, be mindful of environments, changes, patterns and themes, and possess a strong employee environment.
To begin, there is little to be gained from developing a plan but a tremendous amount of momentum can gained from a well thought out strategic plan as well as the implementation of the plan. Strategic thinking helps an organization meet head on the challenge of building strategy. It helps an organization apply the latest strategic insights and approaches and accurately assess the competition in an industry.(Receiving an Executive Education, Pg 1) In addition, well thought out strategies followed by strong implementation can help make organizations more competitive and better equipped to deal with change within an industry. Strategic thinking examines a variety of options for growth, including alliances, acquisitions, and internal corporate ventures. These types of options for growth helps organizations do things such as get into critical markets quickly, accelerate the process of building a potent global market presence and gain inside knowledge about unfamiliar markets and cultures. Furthermore, alliances, acquisitions, and internal corporate ventures help an organization access valuable skills and core competencies as well as master new technologies.(Thompson Pg. 146) As a result costs are reduced, and market shares and profits are increased. (Gamble pg. 144) These are few of the many positive results of implementing a well thought out strategy plan within an organization. Managers must continually develop new ways to create and capture value in order to remain successful. A good strategy will help an organization along with this process. (Brickley, Pg 25-26)
Moreover, the ability to be mindful of environments, technological changes, patterns and themes can mean life or death for an organization. If an organization is not mindful of these things it will eventually die. For example, if a company decides to enter another geographic area and has not researched the tastes, preferences and needs of the target market in that area the effect can be disastrous. One example of this is displayed with the Wal-Mart Corporation. In an earlier Case Analysis I concluded that Wal-Mart has a strong presence in the international market but it could be much stronger. Wal-Mart is taking in consideration the customs and culture of other countries. Wal-Mart wants to push their way on other cultures not taking in consideration that adjustments need to be made from country to country. What is suitable in the United States is not always appealing in other countries. Wal-Mart inability to be flexible and adapt has hurt their sales tremendously in Germany which as a result has slowed their growth rate.
Furthermore, if a company wants to position its organization for tomorrow, it needs to tackle today’s technologies and processes that generate resistance to change. Among the biggest challenges businesses face today is reducing the complexity of technology. Some say that technological change is the only constant in the business world of today. Technology is not just contained within the World Wide Web, computers or the Internet. Technology is integrated into all aspects of business. A few examples of uses of technology in the business world include teleconferences, automatic re-ordering of needed parts to sales presentations on laptops. An organization without the knowledge of the latest technology will be left behind. Companies that expect tremendous past performance to shield them from the forces of change driven by advancing technology will fail. Darwin’s Survival of the Fittest applies to businesses as much as it does human beings. (Brickley, Pg 11) An organization must be aware of the changing patterns and trends of an industry. Experimenting, improvising, and learning from past mistakes helps improve a company’s outlook for the future. Reacting, anticipating and leading change are three ways to help ensure success. Industry leaders are proactive agents of change. (Thompson, Pg 124)
Furthermore a strong employee environment is vital if a corporation wants to be considered an organization of the future. Today's high velocity business environment makes increasing demands on managers and workforces, as competitive standards rise and expectations of individuals increase. Managers must respond positively to changes in contemporary workforce attitudes if they are to get the performance levels they need. In addition, good employee relations are not only desirable, they are necessary to help reduce absenteeism, avoid costly disputes and harness goodwill to achieve optimum performance, commitment and effectiveness. (Diversity in the Workplace, Pg. 1) Management and employees needs to increase efficiency, productivity and profitability. Another part of having a strong employee environment is having a diverse and experiences workforce. Businesses have started to recognize diversity in the workplace as a business strategy that maximizes productivity, creativity and loyalty of employees while meeting the needs of their clients or customers. If a company is only as good as their employees, then it stands to reason that a great deal of energy should be devoted to hiring the most talented individuals. By branching out to a diverse workforce, employers have access to a greater pool of candidates thereby improving the odds of hiring the best person. In a competitive marketplace, an organization that puts people first - regardless of their race, religion, gender, age, sexual preference, or physical disability has an advantage over the other players. (Rice, Pg1-2)
Just as the workforce is becoming more diverse so is the market. Employees who mirror the customers that are served can benefit an organization since they will feel as if they hold a common ground. Furthermore, employees with different perspectives can help provide companies with a holistic view of the market identify unmet needs and identify new opportunities. As the value of diversity continues to grow in the business community and elsewhere, recruiting and retaining diverse employees is becoming even more important to continued organizational success. (Diversity in the Workplace. Pg 1)
Recruitment and retention of valuable employees is now recognized as one of the most important issues facing corporate America. By creating an environment where all employees feel included, represented and valued helps to produce greater employee commitment and motivation. It also means fewer resources spent on training and turnover. By recognizing employees’ uniqueness and appreciating their varied perspectives helps ensure an inclusive work environment where awareness of, and respect for, different cultures is promoted. (Employee Relations, Pg.1)
In conclusion, much is required for a company to be considered and organization of tomorrow. An organization must have a clear picture of whom they are, where they want to go and how to achieve their goals. Darwin’s theory of Survival of the fittest applies to corporations as well as human beings. In order for an organization to stand the test of time they it must possess the ability to adapt. An organization of tomorrow must develop a true strategic thinking process, be mindful of environments, changes, patterns and themes, and possess a strong employee environment.
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