Company Selection: Choose one company from the list. Deep Dive Analysis: Conduct thorough research to understand the specific challenges and reasons behind the company’s current struggles

ByJamez

Task

You will assume the role of a business consultant tasked with assisting a company facing significant challenges. You will select one company from among the list of companies in the article 10 Struggling Companies That Might Not Survive 2023.

The Project 2 content should include the following information:

Part 1: Research and Analysis

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Company Selection: Choose one company from the list.

Deep Dive Analysis: Conduct thorough research to understand the specific challenges and reasons behind the company’s current struggles (using industry, financial, and trend analyses; customer reviews; academic articles; annual reports; etc.).

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Part 2: The Critical Change Proposal

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Identify One Critical Change: Based on your research, identify your idea of the single most critical change the company needs to implement to help them turnaround to improve.

Justify Your Choice: Explain in detail why this specific change is most essential to address the company’s core problems. Provide evidence from your research to support your reasoning.

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Part 3: Implementing Change – Kotter’s 8-Step Process

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Use Kotter’s 8-step change model, select any four of the eight steps, and based on the step discuss what is needed to implement the change you identified. Each step should be well-defined and address the specific needs of the chosen company:

  • Create a sense of urgency: How will you create a sense of urgency within the organization to support the need for change?
  • Form a powerful guiding coalition: How will you build a strong team with the authority and influence to drive change? What is the mix of stakeholders needed to lead, support, and implement the change?
  • Develop a vision: Given the change, articulate a clear vision for the company’s future state. What future do you envision?
  • Communicate the change vision: How will you effectively communicate the vision levels of the organization?
  • Empower broad-based action: What steps will you take to motivate employees at all levels to actively participate in the change process?
  • Generate short-term wins: How will you create and celebrate early wins to maintain momentum and motivation for change?
  • Consolidate gains and produce more change: How will you ensure the changes become embedded in the company culture?
  • Anchor new approaches in the culture: What actions will you take to sustain the change in the organization?

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Part 4: Change Communication Plan

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Develop a Change Communications Plan that outlines at least three key communications targeted at three different audiences. Each communication for each audience should include the following details:

  • Purpose of Communication: What is the intended outcome of this communication (e.g., create awareness, address concerns, generate buy-in, provide instruction, etc.)?
  • Targeted audience: Who are you targeting with this communication (e.g., employees, managers, customers, investors)?
  • Message: What is the key message you want to convey to this audience about the change?
  • Channel: What communication channel will you use to reach this audience?
  • Communication flow: What communications flow [e.g., top-down, bottom-up, horizontal (i.e., peer-to-peer)] will be used to communicate the message?

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Assignment Best Practices

Critical thinking and analysis are integral to Project 2. You should analyze the company’s situation using online research, including management challenges identified in the company’s 10-K financial statements. When researching, breaking down the material is critical for an accurate analysis. Avoid presenting just any information or irrelevant data.

Ensure clear alignment between your chosen change proposal, Kotter’s steps, and your change communications plan.

You are expected to present information with supporting ideas, reasoning, and conclusions using resources that include course materials and thorough research. A variety of source materials are expected, and what is presented must be relevant and applicable to the topic being discussed. You must demonstrate the ability to think clearly and rationally, showing an understanding of the logical connections between the ideas presented from the research and course materials, and their applicability to the assignment.

The final submitted paper should be your own original work. You may not use any work from another student, the internet, for-pay websites, pre-prepared documents and videos, or an online clearinghouse. A zero will be earned if the presentation is not your own. You are expected to understand the Academic Dishonesty Policy, Plagiarism Policy, and general academic expectations concerning proper citation of sources. You will be held accountable for in-text citations and an associated reference list only. You should not lift any information from source documents without properly citing and referencing them.

Library Resources

The university library is a source for information. You can find relevant information required for industry research by using the Library Business Research page. In addition, extensive library resources and services are available online, 24 hours a day, seven days a week to support you in your studies. The UMGC library also provides research assistance in creating search strategies, selecting relevant databases, and evaluating and citing resources in various formats via its “Ask a Librarian” service.

Submission

The assignment is due on Tuesday by 11:59 p.m. ET. The length of the assignment is 4–6 pages, excluding the title and reference pages. The assignment should consist of the following sections. You should use the instructions above to develop the content for each section.

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Introduction

Company Research and Analysis

Change Proposal

Implemeting Change

  • Subsection Title is Step Chosen 1 (e.g., Create a Sense of Urgency)
  • Subsection Title is Step Chosen 2
  • Subsection Title is Step Chosen 3
  • Subsection Title is Step Chosen 4

Change Communications Plan

  • Communication Plan Message 1
  • Communication Plan Message 2
  • Communication Plan Message 3

Conclusion: Summary of your key recommendations from each section of the project.

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LINKS TO COURSE MATERIAL 

https://www.zendesk.com/blog/change-management-models/

youtube.com/watch?si=kPeluEnid-A1IAzH&embeds_referring_euri=https%3A%2F%2Fleocontent.umgc.edu%2F&source_ve_path=Mjg2NjQsMTY0NTA2&v=wDbEvMFHGdg&feature=youtu.be

youtube.com/watch?embeds_referring_euri=https%3A%2F%2Fleocontent.umgc.edu%2F&source_ve_path=Mjg2NjQsMTY0NTAz&v=4EvkGX_lr1A&feature=youtu.be

youtube.com/watch?si=-etGfVVtLLHEJe4d&embeds_referring_euri=https%3A%2F%2Fleocontent.umgc.edu%2F&source_ve_path=Mjg2NjQsMTY0NTA2&v=VqFqWIqOB1g&feature=youtu.be

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