Key Issues Raised By Gibbons In Business Stability And Change

The Debate on Business Stability vs. Change

You are to Identify and critically examine, the key Issues raised by Gibbons.

The topic of whether things in business are changing or are much stable is currently being argued in most places all over the universe. How business is conducted now tends to change on a daily basis, which is catalyst zed by some aspects in the world. Some aspects are artificial while others are natural in existence which human beings have no control over them. It is tough for a business to maintain status quo on the first day of existence to up to five years later down the line (Becker et al. 2013). A performing business must be subjected to changes in the environment that are inevitable. On the other hand, there is business that remains stable according to the will of the management/owners. This kind of business tends to operate on small quantity which on a small area. They lack diversity capabilities in them that tend to reduce improvement and profit making aspects reason that they only work on same grounds without exploring new ways of operating. For most successful businesses some things are stable and some that are changing, business (successful) cannot only be running on same aspects thus tends to change some. Other businesses tend to operate on stable elements, mainly do not focus on improving their functioning capabilities, which they feel, becomes tedious to their staffs hence prefer to remain stable. In the both perspective, each tends to have its advantages and disadvantages when in the line of operation and this now depends on the management or owner of the business to decide on which perspective to follow. My argument now is based on the first metaphor that suggests some things are stable and others that are changing.

Significant percentage level of people claims that business to grow to need to employ a variety of changes, which helps a lot in improvement. I also, tend to propose the same that in business there must have some things that tend to change to ensure efficient running of that particular company/organization. However, there are some little things, which have to remain same without any changes to make sure that the business is running on a goal-oriented perspective. According to (Chattopadhyay & Bhawsar 2017, p 89) top management and owners of the organization should always ensure that the firm is operating and this is guaranteed by employing effective ways of managing the business. There is a time when the management feels that there tends to have some changes in particular departments or even the overall business. With the rapid growth in technology, the industry tends to change in their operating ways to ensure that they can employ technology capabilities in running the business. Some business came into existence when current technology was much far behind and for them to remain relevant, and in full operation, they have to try including current technology. This means that some things must change for the inclusion of current technology in the business. Technology has brought more advantages in companies as there is an improvement of services like brand creation and awareness, greatly enhanced by social media platforms. For a business to flourish well, a high number of customers should be experienced in turn to ensure high volumes of sales of goods or services. Contingency theory suggests that marketing scheme should be designed flexibly to consider the environment and business structure confronting an organization. The systems also need to be adapting to the specific verdicts being considered. In other words, marketing and brand creation systems need to be designed within an adaptive framework, and this means some aspects should be changed (Schroder, Schmitt & Schmitt 2015, p 342).

Benefits and Drawbacks of Business Stability and Change

On the other hand, stability in business should be enhanced to ensure operating in the right path. One of the most significant things business owners must do is build stability, and one of the other most vital things business proprietors must do is be prepared to alteration. Therefore, it is not an astonishment that many business frontrunners find themselves puzzled. If constancy/stability is most important, then how can they be equipped for the change? Moreover, how can an ever changing corporate be constant? The real newscast is that stability and tractability are not as contradictory as one might deliberate (Hui 2014, p56). Stability (business) is frequently misconstrued. The most common quantity of stability is the positive cash flow of which is not the only degree of stability. In fact, if the other key business aspects of stability are not contemporaneous, then positive cash flow will not be either a measurement unit. Business stability is accomplished when a business owner or operative has established loftier management of all of the developments of their business. I tend to argue positive cash flow in the firm should not change and should remain for the awareness that a particular business is running well with no loss encountered in any process. Most professional problems arise because of failure to device one or more of the firm’s progressions. Stability occurs from partaking a transparent procedure for each course, detailing that system, and following that process each time. In this way, one can avoid the faults that experienced from multitasking, in expert help and faulty reminiscence. When a business has brilliant control of all of their progressions, they can achieve stability, and on the same time, they are equipped for change effectively.

Another aspect requiring the change in business is the performance slots. The establishment’s goals and objects are not being met, or other organizational needs are not being gratified. According to (Evans, 2016 p 564). Changes in the business are obligatory to close these breaches. Performance gaps should at all times be studies well to ensure efficient running of the firm. When a particular business experiences performances gap in one department or Whole Corporation means that there are some aspects not functioning as expected. To curb this problem of the deficit being encountered in the business, there must be applied some changes at least to try a different method of operation. For example, if the profit of a particular financial year fall, then the management tends to ensure either method process is changed or the working staffs are transferred or fired. Staffs can relax much hence underperforming and that the reason they should be modified from their current operation states to another. The business cannot continue operating on losses status reason that they believe in some things (same staffs and operation methods) being stable. Thus, they need to employ change to ensure loss is not given room in the business (Frank, Roehrig & Pring 2014, p 143).

Performance Gap and External Pressure

Another reason for arguing that some things need to change in business is due to internal and external pressure reaction.  Administration and employees, mainly those in organized unions often utilize pressure for change on a daily basis. External gravities arise from areas like customers, antagonism, changing government guidelines, stakeholders, financial souks, and other issues in the organization’s external atmosphere. When competition is high from the outside business competitors, the management should ensure that they employ changes to the functioning of the firm. Measures that are effective in curbing the rate of completion should be put in place to enhance competitive advantage in the environment. Companies should not stick to the same outdated methods of controlling threats in the environment for a long time hence they should try to put in new and updated methods of operations.

Conclusion

In my conclusion which to conclude my argument suggesting that in every business there must be things changing now and then in business and others should be stable from the time of existence. From the essay above, it is well seen that a business is on the right track of operation when some changes are employed in the course of transactions reason that change is inevitable everywhere either in business or one’s daily activities. However, there are other things, for effective functioning, they must remain stable to enhance business continuity. An efficient and sound management should not at any chance be changed/fired reason that they can run the business appropriately (Verganti 2011, p 90). Some top management tends to fire or transfer staffs just for the sake of proving to the board of governors that they are doing something.

Hence, I advocate the management that change should not only be made just for the sake of, but it must be done where appropriately needed after thorough research on the consequences to fall afterward.

References

Becker, J., Kugeler, M., & Rosemann, M. (Eds.). (2013). Process management: a guide for the design of business processes. Springer Science & Business Media.

Chattopadhyay, U., & Bhawsar, P. (2017). Effects of Changing Business Environment on Organization Performance: The Case of HMT Watches Ltd. South Asian Journal of Business and Management Cases, 6(1), 36-46.

Evans, D. (2016). The Internet of Things—How the Next Evolution of the Internet is Changing Everything. Cisco Internet Business Solutions Group (IBSG). April 2011.

Frank, M., Roehrig, P., & Pring, B. (2014). Code halos: how the digital lives of people, things, and organizations are changing the rules of business. John Wiley & Sons.

Hui, G. (2014). How the internet of things changes business models. Harvard Business Review, 8, 552-568.

Keller, K. M., & York, S. M. (2013). U.S. Patent No. 8,429,067. Washington, DC: U.S. Patent and Trademark Office.

Normann, R. (2011). Reframing business: When the map changes the landscape. John Wiley & Sons.

Rao, M. N., & Rao, S. P. (2015). Simulation of Stock Prices with Stable Distribution. International Review of Business and Economics Studies, 2(1).

Schröder, M., Schmitt, S., & Schmitt, R. (2015). Design and implementation of quality control loops: Strategies to reach stable business processes. The TQM Journal, 27(3), 294-302.

Verganti, R. (2011). Design driven innovation: changing the rules of competition by radically innovating what things mean. Harvard Business Press.