Chapter 1 Blog
In today's society there are so many things that are constantly changing and evolving. Many times it has to deal with many different topics and ideas. The expectations of companies have changed from what they were years ago. Company's are dealing how the culture has changed over the years, and how those attitudes are being constantly influenced by the popular culture of the ever changing world. Through this article I will point out a few examples from the book and then we can discuss different examples from our real life examples.
First we can see how Coca-Cola has struggled through the change in the environment of the culture in 2006. It was not because they were changing their product or because they were making changes to their prices, it was because of the concerns in the environmental concerns in India and labor issues in Columbia. The people were complaining that the products were containing too many insecticides. This can be very frustrating, but we can all see that with the proper communication we can all make it out of it. Also, the companies should be adapting to the environment while they should not be compromising the principles that they stand for.
Finally this should be something that companies should not assume will disappear over night, or at all for that matter. As for example we saw this with the toy company that Dr. Wilkie showed us the other night, that had their CEO hold a press conference and interview to show to the public that they were doing their best to solve the problems for their customers. We have all experienced this through the whole situation with Toyota.
Now is there anything that you can think of that would be an example of anything that was discussed here or anything that invovles chapter one:
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ReplyDeleteIf you want to survive in the business world, you have to be willing to except change. For example, consider the past couple of years because there has been a drastic change in the real estate market. People were buying houses left and right because it was so easy to get a loan, and many people couldn't afford to pay the money back. Then it finally stopped and many banks and financial institutions went out of business or were forced to merge in order to get themselves out of the mess they started. This whole situation had tons of people doubting every bank and financial institution in the U.S. It set a stereotype for banks even though not all banks lent money to people who couldn't possibly pay the money back. It was nice to know that the bank I work for was not in the same situation as hundreds of other banks.
ReplyDelete1ST SUMMIT BANK was able to stand strong because we didn't get greedy like some of the other banks and knew what we could and could not do when it came to lending money. We made sure our customers knew that as well. Believe me people had their doubts, but if they asked how we were doing we could let them know that we were doing better than ever, and we truly meant it.
I agree with you Jessica, that change is constant and people must accept and adapt to change. You discuss how people doubted banks. This is true for all business not just the banking industry. A company sets a standard in their principles and mission statements and then managers and CEO's display a different behaior and their decision making also sends a conflicting message. This approach leads to cynacism.
ReplyDeleteWhen problems in a company developed it is necessary to address the issue and communicate to the public. As we learned in the chapter, we need to adapt to changing environment and don't assume the problems will disappear and strateties must be formed to deal with the problem.
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ReplyDeleteIndeed, the fast changing environment brings about lots of uncertainty. Toyota has built a reputation for building reliable and efficient vehicles, but it didn't take much to dent this reputation. And yes, who would have thought that real estate and banking would face such huge turmoil.
ReplyDeleteCompanies always need to have a strategic communication plan do address any contingent issues that may arise - especially those that seem most unlikely. As is evident with it's CEO's luckluster response, Toyota is not familiar with these kind of problems. After this experience they'll probably have a better response in the event they're faced with a similar crisis.
Change is always a good solution for a business that's growing along with the world. The earth we live on is a constantly changing environment. I do agree with Walter, saying that change can bring uncertainty, but change can also bring success. Any CEO should know that in order to compete at an enormous level, they must keep up with their changing environments and introduce innovations that challenge competitors and those alike.
ReplyDeleteMy example of a company constantly changing is McDonalds. They are the blueprint of what a company should do to survive in our constantly changing world. McDonalds knows how to evolve and make certain changes that help them dominate the market. The greater the risk, the higher the return, and they,ve capitalized on every opportunity to make change so that they can grow.
The environment that surrounds companies is continuously changing. It involves laws, accounting standards, environmental problems, customer’s requests, and so on. Nowadays, it has been getting complicated, specialized, and globalized. It is not easy to keep up with the change because people generally prefer not to change. However, it is crucial to grasp and to adapt to the change to grow further. We should not be passive against the change but acquire the information of the change actively.
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