These are discussion post that I need a least 150 - 200 word response
Subscribe Unsubscribe Next Top of Form Disc 5.1 - Collier Eric Collier Mar 12, 2018 12:08 AM The chaos theory is a business theory, and strategy, often applied to new businesses or ones that are in an industry where innovation is key, and change is constant. Factory Physics highlights that a theory is a detailed plan that is supported, or explained, by a great deal of evidence (Pound, Bell, & Spearman, 2014). Additionally, Factory Physics used an Albert Einstein quote stating "A theory should be as simple as possible bun no simpler" (Pound et al, 2014, CH. 3). The chaos theory encompasses both of these statements. As a business theory, the chaos theory was deemed necessary to fit a business strategy to allow for innovation and is pretty simple at the core. The drawbacks of utilizing a chaos theory approach is that you have to be diligent in your hiring process and identify those that are adaptable. This means that some qualified talent, or exceedingly good talent, is going to be passed over for someone who can work within the environment of change. Second, the word chaos says a lot, and management has to spend quality time implementing all the changes that will occur. To avoid or mitigate chaos a business will have to ensure the change is constituted and needed and then have a good process for implementation. Once this process has been identified then it is up to the management and executives to adapt policies and communicate in an effective way with their work force. A good process for adapting to change on a reoccurring basis is laid out by ("Reach offers help," 2006) by: · Tell your workforce the truth · Reach out to workers · Stay focused · Be patient · Let go of the past · Reflect on lessons learned I would say the most important aspect is to “Let go of the Past” as this is indicative of a good learning and adapting organization or business. Reference Hawthorne, M. (n.d.). Management theories and concepts at the workplace. Retrieved from http://smallbusiness.chron.com/management-theories-concepts-workplace-17693.html. Pound, E., Bell, J, & Spearman, M. (2014). Factory physics for managers. McGraw-Hill Education eBooks. Bottom of Form 2. Next Top of Form LP 5.2 Patrick Thomas Mar 11, 2018 11:43 AM I have changed in multiple ways during this Graduate Program. I have become a more versatile and robust leader, with a better understanding of policies and procedures, and how they affect the organization, staff and its leadership. I have learned that theory is the basic framework for past, present and future operations in business and the fact that theories that we have lived and worked by over decades can be challenged and changed, as they may not hold true in todays economic society. This program has taught me to look at business practices with a more open minded, strategic approach and to never settle or rely on one single method. I have learned a great deal about operational “supply chain management and distribution”, from our text book factory physics and I have had an opportunity to explore how to functional set up a non-profit business. This was very beneficial to me as I plan to move into that realm as I transition from the military. I learned that “Factory Physics science is a comprehensive, practical science of operations for managers” (Pound, 2014). I read that if I were to use this method/science, I be able to design, implement, and control a production or service systems uniquely suited to their business. This program has shown me an in-depth look into Business Performance Management, and that there are three major functions in accounting performance measures. One of the three is more commonly used, which is Return on Investment (ROI). “ROI may be the peak of the financial effectiveness pyramid of ratios, as a major business objective in its own right” (Bunce, 1995). Lastly, I have grown as a manager because of this program, the section on leadership styles was very beneficial. I learned that I am a Democratic leader and that “everyone is given a seat at the table, and discussion is relatively free-flowing” (Phillip, 2018). Bunce, P., Fraser, R., and Woodcock, L. (1995). Advanced budgeting: A journey to advanced management systems, Management Accounting Research, 253-65. Phillips (n.d.). Leadership Styles: Democratic Leadership Style. Retrieved from http://www.leadership-toolbox.com/democratic-leadership-style.html Bottom of Form Discussion 05.1: Drawbacks of Theory Contains unread posts Includes assessment. Must post first. Many of the policies and strategies companies create are based on business theories. Select a theory and describe the drawbacks of basing a strategy or policy on that theory. Discuss why the theory is necessary. How might a company avoid the drawbacks? Your response must be made using a minimum of three scholarly resources and be cited and referenced using proper APA formatting. You must respond to a minimum of four of your fellow classmates. Discussion 05.2: Memory Lane Contains unread posts Includes assessment. Must post first. Over the course of this quarter we have discussed both theoretical and practical frameworks. You have been asked to develop a business plan, a cover letter, and a resume. You have been asked to play the role of a hiring manager. In this discussion provide two examples of how you have changed as a manager as a result of your studies in the Graduate Program. Your response must be made using a minimum of three scholarly resources and be cited and referenced using proper APA formatting. You must respond to a minimum of four of your fellow classmates.