14 May HOW DOES THIS FIRM CREATE VALUE FOR ITS CUSTOMERS?
Unit 1 Discussion 2: Recognizing the Need for Change
Your textbook notes that “Competition is the driver behind change.”(Effective Change Management, page 10). Our global business environment has taken this statement to an entirely different level! We compete not only for customers in our local neighborhood but for customers around the world.
Firms compete primarily in two areas: cost and differentiation. A firm can compete by pricing products lower than the competition, or the firm can somehow distinguish itself from the competition. For example, the firm might compete by finding a specialized niche market, by providing outstanding service, or by performing some function for customers that is not easily duplicated.
Regardless of how successful a firm might be, all firms must be able to adapt to change in order to stay competitive. Organizational change is defined as “making the organization different or better through internal adaptations to external stimuli.” For organizational change to be successful, all employees must embrace the change and must make it “personal.”
- Select a business or organization. This can be where you work, a large multinational company, a small local business, or a government agency. Identify and describe this business.
- How does this firm compete for customers?
- How does this firm create value for its customers?
- Identify at least one way the firm has changed or should change to meet current customer demands.
- When you reply to your classmates, compare how their firm creates value and adapts to change with how your choice does so.
- Please remember to insert a meaningful and relevant subject bar to give us an idea as to the content of your post and to capture our interest.
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