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Resistance to change, strategic thinking, learning curve and risk management. - Essay Example
Pages 4 (1004 words)
Resistance to change, strategic thinking, learning curve and risk management.
Many organizations have a difficult time reflecting the plans they create because often there are many unpredictable variables that change the parameters in the environment…
The earthquake inflicted so much damage that it caused radiation leakage in one of the nuclear energy plants that operated in Japan. Managers must utilized conservatism in their prediction of future business outcomes. The economy is very unstable and many industries have been struggling since the recession. The use of project management techniques can help managers become more adept at implementing plans. DQ2 A few years ago I did some consulting work for a family member that was starting a new company. The firm needed help creating an implementation plan on how to reach the commercialization phase for a new product the firm had developed. The company had already submitted a pre-patent application and the lawyers believed that that the chances of getting the patent approved was very high. Legal protection was one of the variables that were holding back the full launch. Another problem the company faced was a lack of capital. The company had been incorporated for over a year and half doing research and development without generating any revenues. A lack of operating cash led to the failure of the business. This company in its early stages needed a better implementation plan with a better timeframe and action plan. DQ3 The reason most risk management fall short of expectation is because they lack sufficient scope. A lot of managers do not have a clear understanding of all the business risks that can affect a company. ...