Managing and Leading Strategic Change Essay Example | Topics and Well Written Essays - 3000 words

Managing and Leading Strategic Change - Essay Example Literature Review Henry Mintzberg in his famous research papers has pointed out three important characteristics of strategic change management. Discussing three characteristics of strategic change management will help me to understand key driving forces like leadership, learning and communication for change process. This discussion will create a link between academic theories with leadership issues in P&G during their change management process. Strategic Management versus Strategic Thinking Organizations use strategic management to operate business and control functional aspects of various departments while leaders’ use strategic thinking is synthesizing root maps to achieve organizational objectives. Strategic thinking played vital role for change process in P&G. Strategic Management Requires New Initiatives Leaders planning for strategic management need to think out of the box in order to incorporate breakthrough change. Informal learning should be encouraged in order to ach ieve sustainable change management. Research scholars have found that rearranging older concepts in order to accomplish change management often produces failure due to dynamic nature of strategic management. P&G had successfully used the concept of informal learning to accomplish the required change business model. Fallacy of Detachment Senior managers often fail to detect key issues of strategic change management due to various reasons such as complete detachment with employees of the organization, lack of communication with subordinates (Mintzberg, 1994). P&G had successfully mitigated the probability of detachment in order to achieve objective of change management. In accordance to research scholars strategic change management actually... From the discussion it is clear that organizations use strategic management to operate business and control functional aspects of various departments while leaders’ use strategic thinking is synthesizing root maps to achieve organizational objectives. Strategic thinking played vital role for change process in P&G.This paper discusses that leaders planning for strategic management need to think out of the box in order to incorporate breakthrough change. Informal learning should be encouraged in order to achieve sustainable change management. Research scholars have found that rearranging older concepts in order to accomplish change management often produces failure due to dynamic nature of strategic management. P&G had successfully used the concept of informal learning to accomplish the required change business model. Senior managers often fail to detect key issues of strategic change management due to various reasons such as complete detachment with employees of the organizatio n, lack of communication with subordinates. P&G had successfully mitigated the probability of detachment in order to achieve objective of change management.  Many organisations have achieved successful strategic change management due to leadership quality. The concept of strategic change management is multi dimensional in terms of organizational impact, variation of objective, dynamics of leadership and other management issues.

THE IMPACT OF INTERNATIONAL TRADE ON ECONOMIC GROWTH Essay

THE IMPACT OF INTERNATIONAL TRADE ON ECONOMIC GROWTH - Essay Example International trade is promoted through appropriate strategies and strict observation of the trade patterns. This essay seeks to discuss the impact of international trade on the economic growth. According to a study by the OECD in 2003, the elasticity of international trade was found to be significant. Results from 73 low and middle-income countries in developing economies indicated that there is a strong correlation between international trade and economic growth (Peacock 2013). Inward developing economies tend to grow at a slower rate compared to outward-oriented developing economies. Average growth rate is significantly higher after the liberalization of trade than the period before the liberalization. International trade involving imports of immediate goods leads to diffusion of technology in an economy (Berdell 2002). Most of the studies tend to support the positive effects of international trade on economic growth. The static impacts of the international trade refer to the impr ovement in the social welfare with a fixed resource supply. Opening up the global market offers the chance of trading at international prices (Peacock 2013). Domestic consumers can buy cheaper imported goods. At the same time, producers have the chance to export goods to other markets at higher foreign markets. The comparative advantage in the international trade leads to specialization and improved quality delivery. This has caused an increment in the social welfare and output. Another impact of international trade on economy is the dynamic gain. This is the change in the structure of production that can be attributed to adoption of new technologies (Peacock 2013). This has also led to increased scales of production. Expansion of production through international trade leads to economics of scale and are mostly based on the comparative advantage. There has been expansion in production which is a response to the demands in the global market (Berg & Lewer 2007). This expansion has led to a decrease in the cost of production and accumulation of capital (Berdell 2002). This has had an overall effect of increasing employment levels. International trade has been known for its support in the technological spillovers among the economies involved. This has favored productivity. International trade transmits knowledge into international market. A world renowned economist, Paul Krugman, through an article in The New York Times suggested that competitive devaluation in the 1930s was different from the modern of currency wars and international trade policies. Several countries were dependent on the gold standard at the time. In the modern fiscal policies, mutual interventions are hard to accomplish. In the past, gold was worth more than the domestic currencies. The conventional liberal-market interventions are seen to have no effect. Currency interventions are perceived to be accomplishing very little. This has caused major economies to get tempted to devalue their economi es by printing more money. International trade affects economic growth. According to Paul Krugman, international fiscal policies affect the incentives offered by the central banks which in turn affect economic growth. According to economist Milton Friedman, the most acceptable measure of the fiscal policy is their economic effect and not interest rates. Milton believed that unwarranted government intervention was unwelcome in