Business Finance
MGT422 University of Phoenix Evolution of Business Report Paper

MGT422

University of Phoenix

Question Description

Purpose of Assignment

The business environment is continuously evolving with the integration of new management trends developed to create opportunity and respond to challenges. Innovation often challenges the status quo of organizations and change agents in an organization must become intrapreneurs to meet those challenges.

You have been tasked to communicate to the VP of Human Resources about the need to prepare current staff for a more diverse workforce as a result of opening a new office in Miami, FL. This geographical area is known for its cultural, religious, and ethnic diversity in comparison to the company's office in Topeka, KS.

Assignment Steps

Create a 1, 500-word report analyzing the relationship between these concepts or topics:

  • Analyze the role of innovation in executing change strategies.
  • Assess managing diversity in the workplace.
  • Examine how technology facilitates the implementation of change in today's workforce.
  • Explain how the workforce in the company will benefit from welcoming an inclusive and more diverse group of coworkers.
  • Explain the benefits and the opportunity that a more diverse workforce will create.
  • Include at least five peer-reviewed references.

Format your assignment consistent with APA guidelines.

Click the Assignment Files tab to submit your assignment.

Final Answer

Please find attached. Thank you.

Outline
I.

Introduction

II.

Conclusion

III.

References


Running head: EVOLUTION OF BUSINESS REPORT

Evolution of Business Report
Name
Professor
Institution
Course
Date

1

EVOLUTION OF BUSINESS REPORT

2

Evolution of Business Report
Analyze the role of innovation in executing change strategies
Innovation plays a very critical role in the execution of change strategies of companies.
This is because, without innovation, companies cannot effectively move up the value chain and
hence they are less likely to remain competitive. This simply means constant innovation is
required by companies for them to make changes to its strategies and organizational processes.
This is all achieved through the various forms of innovation such as continuous, discontinuous
and dynamic innovation. The first role of innovation in change strategies is that it helps
companies to execute change in a different way than all the other competitors (Davila, 2005).
This is crucial especially in highly competitive businesses whereby companies tend to look and
operate in a similar manner. The differentiation helps to result in acquiring a competitive
advantage for the company against its competitors by developing unique products and services as
well as dealing with common challenges in unique ways.
The second role of innovation in the execution of change strategies is that it helps
companies to accelerate their adaptability of change. This is a very significant role in the modern
business environment which is constantly evolving hence resulting in both opportunities that
must be exploited and challenges that must be addressed and solved. Since innovation helps to
foster an organizational culture that swiftly responds to any kind of changes that may occur in
the business environment such as needs of the customers and trends, the execution of the change
strategies become effective and faster. Finally, innovation helps in effective execution of change
strategies. This is because it enhances continuous change throughout the company (Davila,
2005). This is a crucial role in the modern dynamic business environment where it is no longer

EVOLUTION OF BUSINESS REPORT

3

enough for a business just to be the best; however, continuous search for excellence through
effective change is the hallmark of a successful company.
Assess managing diversity in the workplace
Managing diversity is the process of making plans and implementing the systems and
practices of the organization so as to ensure e...

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