Seminar paper from the year 2006 in the subject Business economics - Business Management, Corporate Governance, grade: 21,5/25, University of Queensland, course: Management in Changing Environment, 20 entries in the bibliography, language: English, abstract: The world in which business operates is continuously changing. Companies need to be ...

Seminar paper from the year 2006 in the subject Business economics - Business Management, Corporate Governance, grade: 21,5/25, University of Queensland, course: Management in Changing Environment, language: English, abstract: The world in which business operates is continuously changing. Companies need to be susceptible and prepared to acknowledge the challenges that change presents and try to overcome these in order for the company to benefit. Pressures for change within a business can arise internally, from staff or management observing current processes, or from external pressures like changes in the economy. There are several pressures currently affecting large organizations, including changing markets, innovation (technological or otherwise), Total Quality Management, organisational structures, leadership status and HR perspective. Such pressures have been recognised and effectively managed by leaders at Interlock Industries; a New Zealand based multinational company concentrating most of their business at the Japanese market. Interlock Industries’ change management processes have been acknowledged as successful based on the following of the philosophies of Stuart Young, the Executive Chairman of the company. Through analysis of the Interlock case, it can be seen that Interlock is a company with a good relationship with foreign firms, strong leadership, processes designed to assist with innovation, quality and research and development, and the ability to continue to be prosperous and sustain competitive advantage into the future. In spite of this, issues have been identified concerning internal operations, patents, ineffective communications systems and leadership. Based on these findings, solutions have been provided that can be adopted to avoid potential company demise.