New, improved, or reengineered? How to find the right management tool to fit your company

Article Abstract:

There are individuals who assert that organizational change should be achieved gradually while others oppose this view by contending that transformation should be radical. However, there is no standard answer for every single organization. It all depends on the magnitude of change an organization can or is willing to implement within a particular period of time. For organizations not sure how to go about their change plans, there are three options: local actions, strategic initiatives and global perspectives. These levels represent a continuum of the commitment of an organization to radical change. Local actions feature the least corporate-level involvement while the global perspectives require the most. The different processes involved in each level of change are discussed.

Analysis, Organizational change

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Escalation and the diffusion of responsibility: a commercial lending experiment

Article Abstract:

Previous studies have shown that several factors exist that can exacerbate or mitigate decision making in a failing course of action. The studies identified the level of responsibility as one factor influencing the prevalence of bad decisions. To validate earlier studies, a study was conducted on 50 commercial loan officers who were given one of two conditions concerning lending decisions. One set of the officers were presented a scenario in which they possess sole responsibility for a failing loan while others were given a scenario in which they will only recommend loans to a loan committee. The results showed that the occurrence of poorly escalating decisions was more prominent in lending decisions in which an officer a sole responsibility.

Psychological aspects, Responsibility

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An integrated model of risk and risk-reducing strategies

Article Abstract:

The role played by perceived risk in decision making under uncertainty has always been extensive leading consumers to adopt risk-reducing strategies such as extensive information search, reliance on word-of-mouth etc. A study was conducted to examine the adoption of risk-reducing strategies in the context of stock investment decisions and the various factors that lowered an individual's perceived risk for such investment and those that heightened it are discussed.

Science & research, Risk-taking (Psychology), Risk taking, Risk perception

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