Organizational change, management homework help

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yvysnzr09

Business Finance

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While there are many factors driving the pace of organizational change today, there are four (4) factors that stand out; globalization, technological changes, the rise of the knowledge worker, and the importance of cross-functional collaboration within organizations. Bearing in mind that change is now the new normal, what must organizations do to effectively manage the rapidly changing internal and external environments within which they conduct business?

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Explanation & Answer

Attached.

Running head: ORGANIZATION CHANGE

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Organization Change

Name

Institution

ORGANIZATION CHANGE

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Organization Change
Organizations operate in a dynamic business environment with various complexities.
Organizations need to be flexible; when the environment changes organizations must also change
to survive. The success of firms lies in their capability to be flexible, adapt and be responsive to
the environment changes. While many factors drive organization change, the following factors
stand out, globalization, technological change, the rise of the knowledge worker and crossfunctional collaborations within the company.
The world has become a global village. Multinationals have spread across territories
leading to international trade and cultural exchange (Smither, Houston & Mclntire, 2016). For a
business to be successful in cross-border markets managers in such countries, need to adopt
cross-cultural management skills to penetrate foreign markets successfully. Managers need to
acquire knowledge of the cultures, tastes, and preferences of the locals of various countries in
which they operate. Globalization provides opportunities for growth for corporates and requires
organizations to scan not only the local environment but also the international business climate to
tap into these opportunities.
The dynamic business environment demands that innovation becomes a way of life
(Cummings & Worley, 2013). Technology should be used to attain, sustain and improve
competitive advantage for the organization. For an organization to be successful in a changing
business environment, an entity m...


Anonymous
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