Business Finance
MGT426 Phoenix Evolution of Business & Change Management Report

MGT426

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 2,100-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.

Unformatted Attachment Preview

Evolution of Business Report Grading Guide MGT/426 Managing Change in the Workplace Copyright Copyright © 2016, 2015, 2014, 2011 by University of Phoenix. All rights reserved. University of Phoenix® is a registered trademark of Apollo Group, Inc. in the United States and/or other countries. Microsoft®, Windows®, and Windows NT® are registered trademarks of Microsoft Corporation in the United States and/or other countries. All other company and product names are trademarks or registered trademarks of their respective companies. Use of these marks is not intended to imply endorsement, sponsorship, or affiliation. Evolution of Business Report Grading Guide MGT/426 Version 8 Edited in accordance with University of Phoenix® editorial standards and practices. 2 Evolution of Business Report Grading Guide MGT/426 Version 8 Individual Assignment: Evolution of Business Report Purpose of Assignment In Week 4, students will learn to understand the different types of communication required to communicate change in the workplace. Resources Required Chapters 8, and 16 Grading Guide Content Met Partially Met Not Met Total Available Total Earned 14 #/14 Partially Met Not Met Comments: 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. The paper is 2,100 words in length. Writing Guidelines The paper—including tables and graphs, headings, title page, and reference page—is consistent with APA formatting guidelines and meets course-level requirements. Met Comments: 3 Evolution of Business Report Grading Guide MGT/426 Version 8 Writing Guidelines Met Partially Met Not Met Total Available Total Earned 6 #/6 20 #/20 Intellectual property is recognized with in-text citations and a reference page. Paragraph and sentence transitions are present, logical, and maintain the flow throughout the paper. Sentences are complete, clear, and concise. Rules of grammar and usage are followed including spelling and punctuation. Assignment Total Additional comments: # Comments: 4 ...
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Final Answer

Attached.

Running Head: EVOLUTION OF BUSINESS

Evolution of Business
Student’s Name
Institution of Affiliation
Course
Date

1

EVOLUTION OF BUSINESS

2
Introduction

Evolution of business entities is an inevitable form of business change that every
organization ought to embrace. The dynamic in technology, innovation, workforce and
development of product has made it obligatory for business entities keep pace with the changes
so as to remain competitive in the market. Failure to embrace evolution and change in the
business environment may lead to either closure of business, downsizing, slimming down or
even mergers and acquisition of once very stable firms. Numerous changes take place in the
business environment making it a little bit challenging to expand a business entity. Taking an
example of the business that plans to open a new office in Miami, Florida, it is clear that the
business environment the organization will encounter will differ from that which exists in
Topeka, Kansas. The company will have find a way of coping with the diverse culture,
population and business dynamics in Florida to remain competitive.
Role of Innovation
Innovation plays a critical role in the process and sustainability of a business entity that
plans to expand its business activities, market segment or even change its business model. It is
through innovation that organizations can come up with new ideas on how to manage and
operates their activities in the adverse environment. Innovation enables an organization to turn
blueprints and ambitious ideas into radical realities that are finally sold to the customers for
profit (Brooks, 2013). However, the ease and process of innovations as well as the duration it
would take for an organization to fully implement an idea depends on the nature of the industry
and the objectives of the organization.
Innovation is the components that drive change strategies in business entities by aligning
the goals of an organization to the changes that are yet to be implemented. Innovation will bring

EVOLUTION OF BUSINESS

3

together all the change elements such as customers, employees and shareholders and other
stakeholders into a common understanding to focus on one goal (Lauri, (n.d.). It is through
innovation that organization make these elements to work together as a single unit to achieve the
change process. The diversity at the Miami offices will require that new innovations be
implemented to enable the organization to recruit staffs with skills and experience from diverse
academic, social, religious and cultural backgrounds.
When executing change strategies, innovation plays the role of selection of staff,
conducting the interview, hiring the best candidates and training so as to tap into talents and
expertise from diverse backgrounds. Innovation also plays the role of product design and
development when implementing a change strategy (Brooks, 2013). It enables an organization to
implement a change strategy that is multidimensional in talent, behavior, and process so as to
achieve the highest level of success.
Innovation lead to either improvement of business processes. Goods and services or
introducing a new product that ends up taking over the market. Alternatively, an organization can
use innovation to change the business model or design of its products and service...

Doctor_Ralph (20388)
New York University

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