1. Other than decreased sales, what do you feel were 2 key variables that led the change of vision from a company in the ‘teddy bear’ business to a company in the ‘bear-gram’ business?
The company’s leadership changed, and this led to the way the company performed. The leader initiated new way of conducting business operations, and this included looking at alternative channels of distribution. The new leadership changed the company’s vision. The company’s management failed to see the changing environment in the company itself. The company’s leader did not realize what was going on within the company. Rather than focusing on the emerging growth of the company as a bear gram company, the management continued to see the teddy bears as their main business. Because of this, the company was not aware of its competition. It did not realize as its competitors began taking a large part of its market share.
The company failed to examine the market, and it did not realize that the market was changing. The company had realized steady growth since its formation, and it remained profitable. The company relaxed, and it did not do anything much to promote the business. Lack of market analysis meant that the management failed to realize the impending changes in the market. Because of this, the company failed to form any strategies. This led to decrease in the company’s growth.
2. Based on the limited information that was presented in the video, what was the culture shift in the company with the placement of Liz Robert as CEO? Elaborate on the impact to the company and the workforce.
Liz Robert was task oriented, rather than relational, in her managerial approach. This led to changes in the way the company made its decisions, and in the way that the employees worked, leading to changes in the organizational culture. The company adopted a more analytical and scientific approach in its operations. This meant that there was more emphasis on developing a product based on its suitability in the market after examining the relevant market data, rather than depending on instinct to make the decisions. The company relied on analytical measures, even in its marketing strategies.
As a leader, Robert recognized the importance of her followers. She recognized the achievements and contribution of her employees. She was able to address their concerns. She did not undermine any of them, and she respected them irrespective of the position they held in the company. The change of culture was evident in the increasing responsibilities that the employees had. Robert realized the contribution that the employees had and she empowered them. The employees have the knowledge and information they need to make decisions in the company. She was able to communicate her vision and mission to the company employees and they understood her. All the employees were working towards fulfilling the same objectives. The leader uses coaching and feedback to help the followers reach their potential. Robert has exercised this, and has enabled the employee maximize their potential within the company.
Robert is aware of what is going on in the market and in the company. She understands the employees, and she recognizes their need to acquire higher-level needs. This has enabled her to concentrate on applying need-based theories of motivation. She has ensured that she motivates the employee with intrinsic rewards. The employees recognize her leadership qualities, and they recognize her as a credible leader. They note the strides she has made since she became a leader. They collaborate with the leader, and they participate in the process of change. She has created an organizational culture in which the employees not only have fun as they work, but they are also systematic in the way they approach their work.