Knowledge Creation and Social Networks in Corporate Entrepreneurship - Essay Example

Going by the error of formulation in the process of defining the question rather than defining the answer that the company had made, what was the top management expected to do? How would they win back their customers? It is obvious that, after identifying the question to address, the management could have been able to work out issues to address the question, rather than defining what the answer entailed (Hackman and Wageman 1995). For example, addressing the question of what could have been done to meet customer needs would have instigated answers that would address the concern.  

 Besides communication and knowledge management as key factors in building awareness, “The Company presented a façade of smugness with their name and overconfidence in their products” (Janis 1973). Critically discuss this statement. An organization should not limit its borders in assessing information to build knowledge management. In fact, outsourcing would be ideal for any organization that wants to build up its knowledge management. 

 Any organization must create a model of learning by establishing relationships with the industry monitors to avoid making similar mistakes that have been done by Ford. What issues should be put into consideration? Evaluation of past and current business environments can be argued to help an organization build up a model of learning (Floyd and Woolridge 1999). This is arguably true because if this is something to go by, the organization is able to evaluate the situation of its competitors and measure its current abilities according to the current climate of the industry.

The lack of knowledge development at both personal and organizational levels was evident at that particular time, but the idea of rubbing off the discussion was more critical to handle (Janis 1973). Why were similar companies going through the same issue?

Second scenario: Estra

According to Bazerman and Moore (2008), effective decision-making could be hampered by two situations that are squarely associated with decision-makers. What are these situations? What effect did they bring to Ford‘s company? If decision-makers fail to utilize the data on hand, they may find it difficult to solve issues that hinder decision-making.

The problem identified by Ford’s decision-makers was ‘focusing failure’ (Chugh and Bazerman 2007). Discuss.

In regard to errors in problem formulation and the utilization of other forms of information that are necessary for a company, advice to other manufacturers is that their decision-makers could see the bigger picture and think outside the box (Bazerman and Moore 2008). What failed the Ford Motor company?

It is believed that hard data are useful in validating assumptions before making a decision. However, according to Vaughan (1990), emotions and institutions have a part to play in decision-making. How does this account for the process of decision-making?

            Decision executives must stay put in every situation in order to remain relevant in the market (Bazerman and Moore 2008). What are their threats and opportunities?