The office supply industry

The office supply industry has several factors that can be effectively utilized to generate success; for example, lower per-unit costs. Despite the existence of key drivers that can be manipulated to drive progress, it has wild swings of its own. These swigs are the sole reason why these primary drivers should be exploited in an appropriate manner (Sheth & Sisodia, 2005, p. 24). The timing of the swings coincides with the country’s economy and to some extent, with the economy of States in different States in Europe, Asia, and Latin America. A primary characteristic of the office supply industry is that it is not labor-intensive; therefore, the expenses of those that endeavor is less than the economic depreciation changes. The industry has two primary segments, and these include digital office equipment and the office supply, distributors. Digital office equipment includes copiers, postage meters, laminators, and scanners.

A large fraction of consumers for these commodities is the financial institutions. Government agencies, as well as small and medium-sized enterprises, make up the rest of the consumers. The second sector derives its drive primarily from the retail chains in North America. General operations, as well as permanent business domestic contracts, also act as fuel for this drive. Technological devilments are a critical driver that a majority of those that have endeavored in the industry have had to exploit for success. Those that have managed to make effective use of it as part of their organizational change enjoy internet-based orders as a supplement to their retail chains. Some of the topline key drivers for success in this industry have been mentioned above. These include; lower per-unit costs, as well as technology. The other critical opportunities for exploit include the ability to launch enhanced models, the existence of clear analytical criteria, robust marketing (Sheth & Sisodia, 2006, p. 10), and competitive share markets. Institutions in this industry can launch enhanced products at heightened intervals. Effective use of these key drivers will translate into a prime growth strategy.

The new versions of products may feature lower costs per unit, different colors, as well as improved or increased functionality. Data from research conducted on past operations in the industry, for example, sales drives from products and development expenditures that make up critical analytical data, is instrumental for growth when used appropriately. Opening stores and making acquisitions in foreign markets make up the competitive market share gains of which, when adequately exploited, will translate to success. Another key opportunity for exploit in this industry is the straight forward nature of businesses in it. The simplicity enables entrepreneurs and business persons to analyze business data, for example, stock quickly. A majority of the technologically oriented industries do not get to enjoy this privilege. The primary reason behind this is because businesses in these industries do not have an expanded length of the product cycle. The industry’s characteristics also make it very easy for the institutions working within it to determine their losses and market shares quickly. This feature is critical for organizational change. The ability to assess damages and profits is directly tethered to the decision to adopt changes or maintaining the status quo.

What were the reasons for the failure of the Fortune 500 office supply company?

A careful comparison of the fortune five hundred lists of companies posted in the year nineteen fifty-five and that published in the year 2017, it can be established that a majority of those companies have failed. Less than 13 percent of the companies that made up the first list is in operation today. A majority of these institutions went into bankruptcy, merged, or got acquired by other firms that are doing better. There is also the possibility that some of those companies may be still in operation but way below the fortune five hundred companies, which are ranked according to their total revenues. An excellent of companies that made the initial list but are now long forgotten includes Pacific Vegetable Oil, Armstrong Rubber, and Riegel Textile. Butt and Ivanov (2017) argue that the office supply companies that made it to the fortune five hundred lists published in the year nineteen ninety-five filed because of a variety of reasons, for example, economic disruptions. Eason creates the assumption that a majority of these institutions do not exist in the contemporary world as configured as a result of being replaced by emerging companies in their respective industries. There has been a continuous turnover of the fortune five hundred lists and this good sign of dynamism for those that still have their names on the list. Momentum, a fruit of organizational change efforts, reflects upon elements that institutions need to survive in their ever-changing environments. An excellent example of these components is innovation that keeps on attracting customers in the ever-changing environment that is oriented towards their needs. There exists an endless pursuit for sales, and this is another reason that contributed and continues to churn out names from the Fortune five hundred list. The quest for sales has led to a phenomenon referred to as creative destruction. The target of damage is the old marketing and distribution system that institutions used and depended on.

Anew distribution and marketing system has followed this destruction, and it is characterized by the production and provision of high-quality products and services, excellent customer service, as well as, low prices (Sull, 1999, p. 73). Contemporary customers are different, and this is as a result of the growth of awareness. Modern consumers have ample product knowledge, expect to be put first, and receive the products and services they need at the most reasonable price. A majority of the institutions that failed to maintain their listing on the fortune five hundred lists in various industries, for example, the office supply industry, was unable to keep up with this change. Institutions are expected to conform to changes. The adaptability of institutions depends on the rate of acceptance or resistance to organizational change. The changes identified are consistent with the ones identified by Sheth & Sisodia. In one of their articles titled’ Does marketing need reforms’, the two scholars identified that marketing infrastructure within institutions needs to get transformed so that it may conform to the current standards. This conformity will only be made possible through organizational change.

What recommendations would you have given the leadership of the other Fortune 500 Company relative to how the company may have avoided organizational failure?

There are many reasons why organizations fail, for example, unfair competition, as well as unwarranted legislations. In this particular case, the office supply institution that was unable to maintain its name in the fortune five hundred listings did so because of the lack of ability to institute institutional change. Several carefully evaluated strategies, for example, effective planning, will act as recommended steps the institution should have taken to avoid failure. One of the reasons why organizational change fails in a majority of institutions is poor planning. A majority of the leaders exercising power in institutions focus all the attention on getting to the top, but little is allocated towards how the institution will get there. Designing and adopting organizational change without drawing a map of how the company should get to that vantage point is a recipe for disaster. It should have been recommended to the institution that fails that it first prepare a wholesome change process design to guide any of the attempts it plans to make a change. Change within the organizations cannot occur without the support of the leaders (Llopis, 2014, p.7). Those that hold leadership positions within the office supply institution are required to model, as well as champion the change to the rest of the organization, for example, junior staff. The leaders are also expected to be actively involved in support of the change initiative communicating its benefits to all the relevant stakeholders.

All undertakings require there be adequate to an excessive supply of the needed resources. An excellent example of resources is finance. A lack of resources is one of the fundamental reasons why institutions fail. The adoption and sustainability of changes within an organization are long-term commitments that require the availability of the resources necessary to come through. Changes need not only to get designed but also tested, implemented, reinforced, and refined through time (Pasmore, 2015, p. 23). The process makes organizational change a costly endeavor to undertake. The leadership of the failed office supply institution was unable to realize that the effective planning and allocation of resources for every phase of the organizational change process is necessary. In the early nineteen fifties, organizational leadership skills had not eloped as they have at present. Adequate training for leaders to become better change advocates had not been given priority; therefore, change leadership in many of the organizations in that era lacked. The recommended is that leaders from every department need to get an appropriate train to improve their benefits to all stakeholders and ways of implementing it.

Conclusion

Organizational change is one of the primary arsenals needed for the success of any business in the contemporary world. The change allows institutions to stay ahead or within the competition, therefore minting the provision of high-quality products and services at competitive prices. The institutions in the office supply industry can exploit existing key opportunities to achieve success, for example, low unit costs. One of the reasons why office supply companies failed to remain in the fortune five hundred listings is because of various factors, for example, the lack of dynamism. A critical recommendation to the institutions is to plan for change effectively. The recommendation is that the company directs its efforts towards training all the leaders it has in different departments. Change cannot occur without the input of leaders. Leaders with knowledge on change have capability of pushing the change in a long term basis, a situation that will result in the sustainable growth of the institution but not failure.