Read Articles and point out important points Essay

Read Articles and point out important points - Essay Example In addition, values and protocols that exist in the current culture that are viewed as essential for the required change must be reinforced and utilized. It is equally important to promote a participative environment by minimizing resistances to change. Let the members have time to internalize the change and provide coping mechanisms during the transitional stress while dealing accordingly with burden members of the organization. Finally, the momentum of change must be maintained by constantly and publicly recognizing the new behaviors and achievements, especially on the individual level. Change can be based on economic value and organizational capability. The economic value is usually measured by shareholder value while organizational capability rests on the development of corporate culture and is measured by employee’s commitment and learning behavior. The hard approach (economic value) normally involves heavy use of economic incentives, drastic layoffs, downsizing, and restructuring. In contrast, soft approach (organizational capability) involves feedback systems, reflective management and participative environment. The six dimensions of corporate change are goals, leadership, focus, process, reward system, and use of consultants. The challenge for leaders is how economic value and organizational capability theories must be combined and applied in the dimensions of corporate change. In this synergy of theories, change can happen by increasing productivity while enriching your corporate culture with intelligent and practical use of resources and external entities. This can be implemented through flexible and collaborative effort, to some extent, of executives with much knowledge and dedication to direct and immerse to the level of their subordinates. In a knowledge-based economy, in which value creation depends increasingly