Discussion about Key Concept Exercise- The Challenge of Change

Question: Discuss about the Key Concept Exercise- The Challenge of Change. Answer: Introduction Organizational change is inevitable phenomenon which every organization has to undergo one day or the other. These changes occur either due to external environmental forces or factors internal to the organization (Nadina 2011). Deseret News is the oldest daily newspaper published in Utah, United States. However, with the emergence of news websites, smart phones and social media, its revenues began to drop drastically. The time had come to bring an organizational change to the business by reaping the benefits of a brand new digital landscape. Scenario planning is extremely crucial at the time of introducing a change to a business organization for it will help the management to anticipate the future and the same time work in the present accordingly (Konno et al. 2014). Deseret News can build new empires by focusing on its brand, which gives it an advantage over its rivals. The best case vision with reference to Deseret Digital in the course of next five years could be its success compared to the digital sites like Forbes.com, Huffingpost.com, and Atlantic.com which are popular among the readers all over the world. There are a number of underlying factors which influence the decisions taken by the management. The first and foremost is the kind of leader ship the organization has. Clark Gilbert joined the Deseret News at a time when the business was on the verge of becoming obsolete with the emergence of the digital media (Gilbert et al. 2012). Understanding the strategies of the rivals and then building up on ones competenc ies is the key to achieve success when the business has undergone an organizational change. Keeping a pace with the emerging trends in the industry will also ensure that the best case scenario envisioned for Deseret News is in sync with the reality in future. According to Fisher, One third of organizational change initiatives fail. The process is tricky and calls for an in depth analysis of the companys operations. The main idea is to construct a separate business with a different profit formula, distinct operations and a dedicated staff, without disrupting the core business. The worst case vision for Deseret News could be all its profits falling out, with its competitors assaulting every facet of its revenue base. This could be due to inefficient leadership, not understanding the customers unmet needs and inefficiency in managing the core business along with the new extension (Konno et al. 2014). Best case scenarios are more likely to develop for the Deseret News considering the way it has set an example for the world in bringing organizational changes to the company with such intelligence and efficiency. Deseret news has strived to ensure parallel growth for both the industries- its print publications and the digital publications, Conclusion Gilbert understands that the legacy of newspapers is falling and is on its way to a permanent decline. Keeping this in mind, it is best for the company to work on its brand and take all the necessary resolutions which would expand the companys operations to meet the ever-changing demands of the time while at the same time sticking to its roots. References: Gilbert, C., Eyring, M. and Foster, R.N., 2012. Two routes to resilience. Harvard business review, 90(12), pp.65-73. Konno, N., Nonaka, I. and Ogilvy, J., 2014. Scenario planning: The basics.World Futures,70(1), pp.28-43. Konno, N., Nonaka, I. and Ogilvy, J., 2014. The Mind of the Scenario Thinker. World Futures, 70(1), pp.44-51. Nadina, R.R., 2011. Methods of identification of the need for organizational change as being opportune. Annals of the University of Oradea, Economic Science Series, 20(2), p.707.