Question

Short paper on an interesting aspect of managing change in today’s world – based on a real-world example. Each student will prepare a short paper (1-2 pages) on an aspect of managing change in turb.

Answer 1

Managing change is crucial in today's business world. One real-world example is the transformation of Blockbuster into Netflix through embracing technology.

Step-by-step explanation:

In today's world, managing change is a crucial aspect of running a successful business. One interesting aspect of managing change is the implementation of new technologies. For example, many companies have had to adapt and embrace digital transformation to stay competitive in the market.

One real-world example of managing change through technology is the transformation of Blockbuster into Netflix. Blockbuster was a dominant player in the video rental industry but failed to adapt to the changing market and the rise of streaming services. On the other hand, Netflix successfully recognized the shift in consumer preferences and capitalized on it by transitioning from a DVD-by-mail service to a streaming platform.

This example illustrates the importance of managing change in businesses and how failing to do so can lead to the downfall of even the most established companies.