Tasks That Must Be Solved for the Long-term Development of the Company
Once an organization has identified its business foundation, it begins the process of developing tasks that are critical in determining its success in each stage of growth. Describe the six (6) developmental tasks that are necessary for long-term success. As known, once an organization has determined its business foundation, it starts the process of developing tasks that are critical in determining company’s success in each stage of growth. For business entrepreneurs and managers it can be a challenge to develop and implement further business path and determine new strategies to succeed in business. Of course, in order to succeed in today’s competitive business environment and achieve notable growth, entrepreneurs need to possess a set of valuable skills and qualities to effectively and professionally evaluate and forecast current business situation and the organizational future. It is essential to correctly determine market needs, plan a set of necessary steps and business strategies, and determine certain products or services to satisfy the needs of potential customers and market demands. So once a company has identified its business foundation, it begins the process of developing tasks that are critical in determining its success in each stage of growth. As known, there are six developmental tasks that are necessary for long-term success, such as (1) the identification and definition of a market and niche position, (2) the development of products and services to satisfy the needs of the market niche, (3) to acquire and determine additional resources to manage the organization’s growth and development, (4) the development of operational systems to effectively operate usiness processes, professionally manage business operations, and strengthen their growth (planning, management development, organizational structure, and control or performance management systems), (5) the establishment of management systems for company’s long-term growth and business development, and finally, (6) corporate culture management for effective organizational growth and development (involves a set of certain norms, rules, and beliefs that enhance positive staff behaviors, high ethical standards, and moral principles). Discuss the keys to success in developing Stage I and Stage II organizations. Provide an example of a successful company in each stage. When it comes to the keys to success in developing Stage I and Stage II organizations, it is important to note that both Stage I and Stage II organizations represent the entrepreneurial phase of organizational development but requires a set of different tools and strategies to succeed in business environment. As known, a Stage I organization is “generally a simple one-unit concern with a single product or limited one of products and with most employees operating under the direct supervision of an owner-manager” (Bedeian, 1984, p. 285). Stage I organizations are usually relatively new firms and in order to succeed in severe competitive business environment, they need to develop an ability to correctly determine market needs, develop and offer products/service to satisfy market needs, organize staff, and effectively develop basic systems for professional functioning and daily management. The examples of Stage I organizations may include Polaroid, Xerox, Apple Computer, etc. Stage II organizations represent very fast growth and development of the firm; in order to succeed in business market, these organizations strive to develop an ability to implement complex operational systems and business strategies, involve new tools and sources, and increase their financial, technical, and human resources to succeed along with their rapid growth and development. It is crucially important to react as quickly as possible to meet the demands of a company’s rapid growth. Stage II organizations should have ability to professionally implement new operational systems into the company and effectively coordinate financial activities to progress and achieve the desired outcome in the future. Evidence indicates that “the great strength of a Stage II company lies in its concentration and specialization in one field… Stage II companies tend to be strong in solving functional and product problems and weak in coping with basic market changes and the general management problems related to strategic changes” (Bedeian, 1984, p. 286). General Foods and John Deere are considered among the successful Stage II companies. Stages I and II represent the entrepreneurial phase of organizational development while Stage III represents the professional management phase. Discuss the differences between an entrepreneurship and a professionally managed organization. When it comes to the differences between an entrepreneurship and a professionally managed organization, it is important to focus on things such as planning, profits, control operations, organizational culture, innovation, management development, and leadership. The professionally managed organizations have structured control of operation, mostly consultative leadership style, continuous planning, and properly planned profits. Entrepreneurship is characterized by informality and informal planning, lack of systems, profits as by products, informal organizational structure, focus on major innovations, and “family-oriented” culture, whereas professionally managed organizations are profit-oriented, formal, strategic and operations; they are characterized by formal planned systems of organizational control, management by standards, consultative/participated leadership and properly planned and determined organizational culture. Discuss the keys to success in developing a Stage III organization and a critical challenge that must be met if an organization is to make the transition from an entrepreneurship to a professionally managed organization. The core characteristics of Stage III organizations is their shift to a multidivisional product structure (Bedeian, 1984). In order to succeed in developing a Stage III organization, it is essential to focus on planning, corporate culture, leadership, organizational goals and objectives, determination of roles and responsibilities, employees motivation, productivity, and mission. Stage III organizations represent the professional management phase that significantly differs from Stage I and Stage II entrepreneurship. Thus, in order to achieve success, it is important to react rapidly and make some transformations within organizational environment. It is important to effectively clarify organizational goals and responsibilities for different company’s sectors. In a Stage III organization, “responsibility for profitability of specific product lines is delegated to divisional managers who also assume functional responsibilities in individual product markets” (Bedeian, 1984, p. 286). When it concerns the critical challenge that must be met if an organization is to make the transition from an entrepreneurship to a professionally managed organization involves the professional focus on coordination of operation across the various company’s sectors. An example of Stage III organization can be General Motors.
Need Help Writing an Essay?
Tell us about your assignment and we will find the best writer for your project.
Write My Essay For MeReferences:
Bedeian, A.G. (1984). Organizations Theory and analysis: Text and Cases. 2nd edition,
The Dryden Press.
DO MY ASSIGNMENT!Order essays, research proposal, capstone project, speech/presentation, book report/review, annotated bibliography, discussion, article critique, coursework, projects, case study, term papers, research papers, reaction paper, movie review,and more.
TOO MANY ASSIGNMENTS? Let our professional writers help you!
