Complexity Theory

Complexity Theory, Market Dynamism, and the Strategy of Simple Rules ABSTRACT This study explores the fundamental tension between too little and too much structure. Observed in multiple streams of research, this tension is associated with the tradeoff between flexibility and efficiency that is central in dynamic markets. Using the strengths of simulation to confirm internal validity and to elaborate theory through virtual experiments, we examine the relationship between the amount of structure and performance in dynamic environments. We have several findings. First, we confirm that an inverted U-shaped relationship exists between performance and the amount of structure. Yet, this relationship is unexpectedly asymmetric - i.e., it is better to err on the side of too much structure than too little. Second, we describe how market dynamism moderates the relationship between structure and performance. In particular, increasing unpredictability is associated with less optimal structure. Moreover, when environments are very unpredictable, there is a very narrow range of optimal structure and a precarious "edge of chaos." Third, other environmental dimensions have their own unique effects - i.e., increasing velocity raises performance while increasing complexity lowers it. Surprisingly, increasing ambiguity diminishes the value of skill. Broadly, we contribute to strategy by

  • Word count: 20030
  • Level: University Degree
  • Subject: Business and Administrative studies
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MANAGEMENT AND INTERNATIONAL BUSINESS - CRITICAL MANAGEMENT THINKING

M A MANAGEMENT AND INTERNATIONAL BUSINESS CRITICAL MANAGEMENT THINKING ASSIGNMENT The article "Working@Llife" by Helen Wilkinson aims to reflect on the transition of the 21st century leaders from technocrats to evangelists and from managers to visionaries. In the article, the author tries to convince the reader that there is a sharp contrast in the skills possessed by the old managers as compared to the new managers. The author indicates that modern managers are softer and there is reduced use of hard leadership skills. Guiding and advising are the skills taken up by them. There are several reasons stated by the author supporting this conclusion. * One of the reasons stated is that the present economy is one that is credited for knowledge, innovation, creativity and also where prime importance is attached to people. This results in the need for the new managers to possess set of skills that differentiate from the old managers. * The author also draws an intermediate conclusion, which states that the age of control and command no longer exists. * Another reason stated by Helen is that the new leaders adopt skills of guiding, advising and coaching in place of the controlling and dictating. She also indicates that this makes the birth of a new kind of Corporate Leader who is suited for the knowledge economy. * The transformation in technology in the work place has also

  • Word count: 1339
  • Level: University Degree
  • Subject: Business and Administrative studies
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Discuss the contention that, in most large firms and whatever the system of corporate governance, constraints on managerial behaviour are largely ineffective and managerial objectives predominate.

Discuss the contention that, in most large firms and whatever the system of corporate governance, constraints on managerial behaviour are largely ineffective and managerial objectives predominate. Introduction In modern economies, the management and control of companies is increasingly separated from the ownership, which is following the agency theory that discussing the relationship between the owner and the agent, or manager, who makes decisions on behalf of the owner. The issue of corporate governance deals with the way in which investors of finance to corporations assure themselves of getting a return on their investment. A section of the participants to the corporate governance debate holds the view that constraints of managerial discretion are ineffective. We may ask why shareholders that own the public companies are denied the opportunity to participate in "Corporate Governance". The protection of shareholders and creditors by the legal system has attracted widespread attention. This essay looks at the contentions of managerial behaviour in corporate governance, and considers the factors that have influenced the control of management. It will discuss three main areas: * The nature and scope of corporate governance * Comparative perspectives and debates * The control of managerial discretion . The nature and scope of corporate governance A governance structure

  • Word count: 2689
  • Level: University Degree
  • Subject: Business and Administrative studies
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Management Environment

MANAGEMENT ENVIRONMENT COURSEWORK Report on BMW performance in Europe, Asia and the US, presenting an overview of BMW Group and the European automobile market. Established in 1916, Bayerische Motoren Werke's hereafter called BMW with its headquarters in Munich, Germany, begun by producing aeroplane engines, shifted to auto-mobile production in the late 1920s. Over the last decade, BMW has gone through a major period of change. From being a very local firm, traditionally an exporter of luxury cars from Germany, BMW now has production sites in the USA, South Africa and the UK. In addition to its BMW models it also builds the re-launched Mini as well as Rolls-Royce. Altogether BMW currently delivers around 1,300,000 vehicles per year to customers with more than 96,000 employees across the world. . A PESTE ANALYSIS OF BMW A PESTE analysis is merely a framework that categorizes environmental influences as political, economic, social and technological forces and environmental factors. The analysis examines the impact of each of these factors (and their interplay with each other) on the business. The results can then be used to take advantage of opportunities and to make contingency plans for threats when preparing business and strategic plans (Byars, 1991; Cooper, 2000). i. Political factors Politics can have an influence on companies in an industry (Cheverton

  • Word count: 2788
  • Level: University Degree
  • Subject: Business and Administrative studies
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Negotiation and conflict.

Negotiation as defined in the textbook is any attempt by two or more conflicting parties to resolve their divergent goals by redefining the terms or their interdependence. In our latest group exercise, each group was assigned to either the Araks or the Barkans and had to negotiate with another group assigned to the opposite country to solve the Arakian/Barkanian Border Dispute. Each group was given a top-secret information packet, and with the information used to their discretion they were to try and negotiate to come to an agreement to settle the border disputes. Our group was assigned to the Barkans, and using the conflict handling styles as described in the textbook examples will be given on our effort to negotiate with our opposing country. This exercise illustrated the conflict process very well because it contained all the elements as described in the conflict process. The sources of conflict such as the goals, values, tasks, resources, rules and communication were all known. Both countries had very similar sources of conflict, for example the goals of both countries was to come to an agreement with the opposing country while insuring that their country would survive. On the other hand along the conflict process model, the manifest conflict that consisted of the conflict style, decision, and overt behaviours varied from group to group. One group's decisions could vary

  • Word count: 884
  • Level: University Degree
  • Subject: Business and Administrative studies
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Change Management Questionnaire.

Change Management Questionnaire Organizational change is a difficult, complex and costly process, and sometimes the organizations fail to effectively implement the change due to this complexity. The organization change is the reaction of the organization toward the outside and inside environmental changes. In the next paragraphs the organization change process is going to be analyzed in the Synergetic Solutions Inc. provided in the simulation exercise in the readings of this week. The company is going to be focused in the network solution market. This is a strategic decision and if will result successful is going to transform the company from just a simple computer trading company into a respectful and key player in the network solutions market. In charge of this transformation will be the new Chief operational officer (COO) hired for this purpose. "The need for adaptive, flexible and innovative organizational culture within organizations in response to the turbulence and uncertainty in the organizational environment has long been suggested" and this is made imperative especially now days in the era of globalization and information technology (Parry & Thompson, 2003). The change forces are many and they come from external and internal environment. In the Synergetic Solutions Inc. can be identified different change forces that come from both environments such as: competition,

  • Word count: 1316
  • Level: University Degree
  • Subject: Business and Administrative studies
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Attributes of a good Manager

MGT240 Unit 1 Individual Project Hiring the good Manager Keith Rowell November 20, 2004 Attributes of a good Manager Customer Service Manager This position will report direct to the vice president of the Service division. The qualified candidate will possess the follow basic management skills: > Planning - Be able to define the company's goals and establish strategies to obtain those goals. Must be able to write a comprehensible implementation plan to coordinate the department's activities. > Organizing - Must be able to recognize what is needed to be done, how it is to be done, and who is going to get it done. > Leading - Must be able to motivate his/her subordinates, while resolving any conflicts. > Controlling - Must be able to monitor assigned tasks and productivity to ensure that they are being accomplished in accordance with company policies. > Conceptual skills: Must have the ability to analyze information/data in order to solve business problems. Must identify and take advantage of opportunities for innovation. Must be able to recognize and identify inefficiencies within the department and implement solutions. Must be able to subtract critical information from massive amounts of data. Must be able to formulate that critical information into some kind of a meaningful report. Most have a working knowledge of systems and today's technology. Must be able to

  • Word count: 1397
  • Level: University Degree
  • Subject: Business and Administrative studies
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Issues Management

Issues Management Paper Issues management can be defined as a management intervention process for anticipating trends, concerns or evolving events which have the potential to substantially impact a business and its stakeholders.1 The global financial crisis that originated in 2007 is a prime example of why it is essential for a business and its management team to have a strong issues management plan in place. The subprime mortgage meltdown will provide many young investment advisors, including myself, with a real life history lesson which will lay the foundation for our careers in the business world. It is crucial that one understands broader concepts such as strategic management and corporate public policy in order to develop the proper approach to issues management. Issues management requires knowledge of the changing mix of issues, the issues management process, the issues development process and how companies might implement issues management in practice. By drawing on these tumultuous past events and conducting issues management initiatives, we can forecast trends in the finance industry so that future crises may be anticipated or averted. There are two approaches that are central to the issues management discussion: the conventional approach and the strategic management approach. The conventional approach is more narrowly focused and centered on public policy or

  • Word count: 2941
  • Level: University Degree
  • Subject: Business and Administrative studies
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Riordan's Benchmarking

Running head: RIORDAN BENCHMARKING Riordan Benchmarking Learning Team A Lori Hobbs, Lacy Williams, Karen Land, Savannah Silverman and Casey Watson University of Phoenix Riordan Manufacturing is a global plastic producer; headquartered in San Jose, California. The company generates earnings of $46 million dollars a year. The company is solely owned by Riordan Industries, a Fortune 1000 enterprise with revenues exceeding $1 billion annually (UOP, 2008). Production is divided into three plants: plastic beverage containers, custom plastic parts, and plastic fan parts. All research and development is conducted at the corporate headquarter. Riordan currently employs 550 employees ranging from manual laborers, skilled trades, administrators, professionals, technical employees, sales and managerial staff (UOP, 2008). The employees of Riordan represent multiple educational backgrounds, ethnicities and family situations. The three demographic groups that are comprised within the company are the baby boomers, GenXers, and GenY. The baby boomers make up the bulk of the managerial and half of the manufacturing staff. The GenXers make up the majority of the professional staff, as well as some of the manufacturing staff. The GenY employees are the newest hires, staffed primarily in the manufacturing, engineering and IT department (UOP, 2008). Riordan has recently made several

  • Word count: 5812
  • Level: University Degree
  • Subject: Business and Administrative studies
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According to Bob Doweling of Business Week, he believes that with

Assessment of Corporate Culture The Magical Culture of Walt Disney Team C Kristie Thompson Michelle McClard Stacie Roachford Dana Edelen Kathleen Coulter ORG502 Dr. Lola Jackson June 27, 2005 Assessment of Corporate Culture The Magical Culture of Walt Disney "Walt Disney transformed the entertainment industry, into what we know today" (internet source www.justDisney.com, retrieved June, 22 2005). The Disney Mission is accomplished through a clear mission statement, and stories and legends that add to the mystical theme of the corporation. Through these and other variables the Walt Disney Corporation has established and maintained a corporate culture that motivates employees and inspires guests around the world. What is the story behind the "magical" culture of the Walt Disney Corporation? Walt Disney's mission and objective is to be a company that has a profound effect on the lives of children and their families around the world. Through a variety of brands and different products and services, Walt Disney seeks to be the most "creative, innovative, and profitable entertainment" (Disney News, 2002) business in the world. Marty Sklar, Vice Chairman and Creative Executive of Walt Disney said, "From the beginning, starting with Walt Disney, we have had five things that make me proud to be part of this Company: high-quality products, optimism for the future, great

  • Word count: 2071
  • Level: University Degree
  • Subject: Business and Administrative studies
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