ADM 2337 Lecture Notes - Lecture 1: Corporate Social Responsibility, Six Sigma, Flickr
16 Mar 2016
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Document Summary
Challenge 1: responding strategically to changes in the marketplace. Six sigma: set of principles and pracices whose core ideas include understanding customer needs, doing things right the irst ime, and striving for coninuous improvement. Reengineering: the fundamental rethinking and radical redesign of business processes to achieve dramaic improvements in cost, quality, service, and speed. Downsizing: is the planned eliminaion of jobs. Outsourcing: hiring someone outside the company to perform business processes that were previously done within the irm. Change management: is a systemaic way of bringing about and managing both organizaional changes and changes on the individual level, reacive changes. Result when external forces, such as the compeiion, a recession, a law change, or a crisis, have already afected an organizaions performance: proacive change. Iniiated by manager to take advantage of targeted opportuniies, paricularly in fast changing industries in which followers are not successful.
