"In the business world, everyone is paid in two coins: cash and experience. Take the experience first; the cash will come later." (Tiffany 410).
This quotes is said by a very famous business man and it is used as an opening statement for a chapter in the book, “Business for Dummies.” This chapter is about gaining experience and asking for help when needed. This chapter is also mainly abut looking to the future and how to mange uncertainty when you don’t have experience in a certain field. The novel mentions two very good points which are: change defines life, and, all people expect change. We always get up in the morning and try to live through a day knowing that it will be completely different to yesterday. All of this of managing uncertainty is highly relatable when it comes to business, and the book points out very important points. Companies also don’t want to deal with change and come up with a lot of excuses. Excuses like, we’ve tried that before, or what we have is working fine. All this excuses are usually used not only for fear for change, but for lack of experience, which makes you doubtful. Companies are always trying to avoid change,
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But the book does emphasize a lot in experience and how without experience people usually are afraid of change even more. That’s where my quote comes in. Experience in life is like having a backup when you’re going to try something. But when that thing that you are trying is new, then experience is non-existent, and that’s were people are afraid to take a risk. Experience in business is highly important, especially if you are just starting your own first business. But experience in life is also very important. Whenever I’m going to do something new in life, I always tend to be very precarious. I asses my options, and I also ask for opinions and help from more experienced people in that
This book is important to business students because it shows that even the most seasoned executive runs into unexpected challenges and can find themselves in uncharted territory. Jim Barton’s experiences and lessons can be lessons for anyone. Any employee, whether they are support staff or a top executive, should always maintain an open mind and be ready to learn from a situation or the people around them at any time.
This book carries great discussions and uplifts our perspectives regarding business management in various ways. Frequent and common mistakes that were encountered by the managers was a key element for the ¡§eight mistakes of managing changes.¡§ Many follow others¡¦ common mistakes and fail from changing while reforming their organization. The possibility of failure is that they perceive the methods from those whom were successful, but they never understood the reasons why some people fail to change.
I would love to apply the lessons I am learning from the book and the class to every domain that interest me. What feels contradictory to me is that the book shows that to be a successful entrepreneur, one need to think twice and coldly calculate all his/her interaction which is the opposite of what I want to do with my family and the people around me. Going even further, it proves how hard it must to work with friends and/or family
arack Obama has quoted, “Change will not come if we wait for some other person or some other time. We are the ones we’ve been waiting for. We are the change that we seek.” This quote perfectly encapsulates that change is something a business owner must strive to do, and not to wait for change to occur.
Many books have multiple life lessons that people can learn to. One of the life lessons that this book indicates is
“Knowledge comes from learning. Experience comes from living. A life without problems is like a school without lessons. Keep walking with a positive mind” (Unknown). This author is trying to tell the readers that if you keep a positive mindset and continue on with your journey, it will be successful.
Kegan, R. & L. Laskow Lahey. (2009). Immunity to Change: How to overcome it and unlock potential in yourself and your organization. Boston, MA: Harvard Business Press.
Podmoroff (n.d.) describes “When you manage change effectively, you can move your organization into the new "business as usual" state swiftly, and you'll find that other people are quick to accept change”. Change management is frequently directed by a powerful change management model; this provides people with a foundation that can be used to comprehend the process and what is expected of them (Connelly, n.d.). Kurt Lewin’s theory...
Changing situations throughout the world affect all organizations in business today. Therefore, most organizations acknowledge the need to experience change and transformation in order to survive. The key challenges companies face are due to the advancements in technology, the social environment caused by globalization, the pace of competition, and the demands regarding customer expectations. It is difficult to overcome the obstacles involved with change despite all the articles, books, and publications devoted to the topic. People are naturally resistant to fundamental changes and often intimidated by the process; the old traditional patterns and methods are no longer effective.
The contemporary business environment is dynamic, ever-changing and increasingly competitive. Their is potential for success, but even more for failure. Businesses are heavily influenced by the changing organisational environment and this intern creates much uncertainty for managers and organisations. With increasing uncertainty in the external environment, the more important it is that managers engage in continual planning. (Robbins 2012 p. 32) Businesses must be flexible and evolve in accordance with their external environment.
The article addresses the issue of being successful in a highly uncertain business environment. Some managers prefer to play it safe by adopting a wait-and-see strategy while others may invest in flexibility that allows their companies to adapt quickly as the market evolves. The companies sometimes neglect the fact that having a successful strategy depends on several factors, including their industry position, assets, or their willingness to take a risk in investing in such strategies. The paper introduced some of the tips and terminologies that could help managers facing uncertainty decide on whether to play safe or bet big. The traditional practice is to put a vision of predicted future events
Change should be seen as a challenge and embraced with enthusiasm (Marquis & Huston, 2012). In my professional and personal life, I view and respond to change as a way to make improvements to existing regulations and circumstances. I embark upon the quest with determination to succeed at whatever task is presented to me. Life without change can become unchallenging and stagnant (Marquis & Huston, 2012). As society and technology advance, you must incorporate the necessary transformations that arise with it.
As a person who is for the most part uncomfortable with change, it is important that I find ways be a leader in a world that is ever changing. In order to be the best and most prepared leader as possible, it is necessary to be aware of one’s core identity and the values, talents, and strengths that are included in this. Consistent with the indications of Vaill’s term, “permanent white water”, the tendency of the world to change is unavoidable and “continual”. We as leaders must find ways to adapt and acclimate ourselves to these situations. Through the discovery of my core values, talents, leadership style, I will be able to develop an action plan to transform my talents into strengths and use leadership techniques to best accommodate my ambitions.
Individuals when faced with any major change will be inevitably resistant and will want to preserve the status quo, especially if they think their status or security within the organization is in danger (Bolognese, 2010). Folger and Skarlicki believe that organizational change produces skepticism in employees which make it problematic and possibly even impossible to contrive improvements within the organization (as cited in Bolognese, 2010) Therefore, management must understand, accept and make an effort to work with resistance, since it can undermine even the most well-conceived change efforts (Bolognese, 2010). Furthermore, Coetsee states for organizations to achieve the maximum benefits from change they must effectively create and maintain a climate and culture that does not support resistance and rewards acceptance and support ( as cited in Bolognese, 2010).
This report discusses how management prepares them to anticipate change in the business environment in the long run and short run too. Change is very important for each and every organization in today’s world because world today has become a daily changing place and in order to keep pace with the changing world we need to bring about a constant change in our organizations, too. There are certain methods by which the senior management can prepare them for anticipating the need for change. The first method is by doing a detailed research and studying for the change. The second method involves having the awareness about the ever changing needs of people and the change process. The third method discusses about having a complete understanding about the compulsion and urgency for change. Lastly, being mentally tough for the change process is the fourth method to prepare the management for anticipating change in the short and long run.