Curious Observation – First Step in Decision Making Process
February 12, 2025
The economic paradigm has always been defined as the battle between the haves, and the have-not’s i.e. the “rich” and the “poor”. This has been the rhetoric since the times of Karl Marx. However, eminent American economist Milton Friedman challenged this assumption in the 1980’s. He believes that the biggest beneficiaries of all governmental programs […]
The business of sports can be asset-intensive and can lead to negative cash flows for a number of years. Sporting franchises have to shell out huge sums of money in order to build new stadiums and also to ensure that the best players are playing for their teams. Also, the legal structure as well as […]
In the previous few articles, we have already seen what retail warehouse automation is. We are now aware of the different degrees of retail warehouse automation which is prevalent in the industry. We also know that such automation is very popular because there are several financial advantages which arise from such automation. However, it would […]
The next step towards understanding the dividend discount model is to extend the conclusions derived from the single step dividend model. This brings us to the two period dividend discount model. In this model we will use the same logic. However, we will extend the assumption regarding the holding period. Instead of selling his stock […]
It is a known fact that the world is in great need of infrastructure projects and, therefore, infrastructure finance. Developing countries need to build their infrastructure for the first time. This needs to be done in order to attract more investments. However, even developed countries need to build more infrastructure projects. This is because the […]
This model of change is one of the unique models of change as propounded by Cynthia Scott & Dennis Jaffe in their article ‘Survive and Thrive in Times of Change’.
The model derives its inspiration from the work of Elisabeth Kubler-Ross, in which she highlighted through her research the ways in which people coped with tragedies, grief or sorrow and based on her investigation she identified five stages of grief:
In a similar manner, Scott and Jaffe described the entire psychological process and how individuals respond to change.
The key highlights of this model havebeen given below:
As per Scott and Jaffe, we all transition through 4 stages of change:
The resistance is usually exhibited through emotional upsurges in the form of anger, frustration, anxiety, fear of the unknown and sometimes voice it out by opposing the change vociferously.
It is during this stage when the organization witnesses a loss in productivity as well as the overall stability in the business environment due to this resistance.
This stage is very sensitive and tentative as for any wrong step taken people may once again revert to the resistance stage of change.
It is very important that commitment towards the change can be established by backing it up with appropriate recognitions and clearly defining the Roles and Accountabilities of the employees.
The model of Change as propounded by Scott and Jaffe is regarded as a predictive model which is far from the reality. But the model can be considered as a vital framework for understanding the process of change and it provides crucial insights on how one can manage change successfully by minimizing the resistance.
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