Scenarios of Organizational Change

Scenarios of Organizational Change

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Company Name: Steel Dynamics, Inc

Brand Story:

Steel Dynamics, Inc. is a U.S.A.. steel manufacturer based in Fort Wayne, Indiana. The company operates in the metal industry. It was founded in 1993, and it is now the third-largest manufacturer of steel products in the U.S. It produces over 13 million tons of steel every year (Steeldynamics.com, 2022). Steel Dynamics had about 10,000 employees in 2020. Since it is among the largest steel manufacturers, Steel Dynamics is well known and is among the most profitable companies in this industry. It is ranked number 299 on the Fortune 500, meaning that it is one of the most sought-after companies by investors and job seekers (D.N.B., 2021). In 2020, Steel Dynamics was accused of environmental damage due to heavy carbon emissions, while in 2008, it was accused of price-fixing.

Scenario 1: Falling Earnings

Prompts/Questions	Response
Identify three critical stakeholders impacted; include their roles.	Employees – If the industry is declining, the company will adjust by laying off some employees Suppliers will experience low sales volumes by suppliers volumes Construction companies will not carry out much of the construction activities
Identify the top concerns of these stakeholders.	Employees will be concerned about their job security Suppliers will be worried about the stability of the market demand for steel ore Construction companies will be discussed with the high cost of steel materials
Select which model (i.e., Kotter, Lewin, or ADKAR) should be used to address stakeholder concerns for this scenario. What impact will using this strategy have on organizational outcomes?	The ADKAR model will apply well in this situation and address the stakeholders’ concerns. (Ahatfix, 2021). This model is outcome-oriented; it can be used to facilitate change by setting clear milestones to be reached throughout the process
She was describing how the organization’s management should communicate the implementation of the selected model.	Steel Dynamics management will inform the concerned stakeholders about the situation in the industry and explain the importance of the steps the company is going to take. But they should give assurance that things will be well.
Identify what type of leadership personality is required for management to support and sustain the change.	-The management should display the leadership personality of openness and honesty (Nathanson, 2021). -Displaying these personalities would help the stakeholders understand and appreciate whatever message the management passes across -Honesty and openness also remove any doubt.

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Scenario 2: Acquisition

Prompts/Questions	Response
Identify three critical stakeholders impacted; include their roles.	-Shareholders may either get more or less dividends after the acquisition -Employees may be transferred to work in new stations after the acquisition -Prospective investors will be affected by the unpredictability of the company’s stock prices
Identify the top concerns of these stakeholders.	-Stakeholders’ main concern is whether the acquisition will affect the profitability -Employees’ main concern will be the change of the workstation -Prospective investors’ primary concern is whether  the stock price will rise or fall
Select which model (i.e., Kotter, Lewin, or ADKAR) should be used to address stakeholder concerns for this scenario. What impact will using this strategy have on organizational outcomes?	Kotter Model has eight steps to effect change. Using this model to address the concerns of the stakeholders would help eliminate some doubts and confusion that come with acquisition, hence having confidence in the company (M.S.G., 2020).
She was describing how the organization’s management should communicate the implementation of the selected model.	The management should communicate to stakeholders in advance about the acquisition. It must assure them that nothing significant is going to change to affect their engagement. It will help the stakeholders to welcome the idea.
Identify what type of leadership personality is required for management to support and sustain the change.	Effective communication is one of the leadership personalities that should be demonstrated (Nathanson, 2021). This will help the concerned stakeholders to understand the importance of acquisition and even give support to the management in effecting the change.

Scenario 3: C.E.O. Replacement

Prompts/Questions	Response
Identify three critical stakeholders impacted; include their roles.	-The top management will be affected by the replacement of the C.E.O. -Employees will be affected by the replacement of the C.E.O. due to the new leadership style -The suppliers might be affected because of the C.E.O. sourcing criteria.
Identify the top concerns of these stakeholders.	-The main concern of the top management is adjusting to working with the new C.E.O. -The main concern of employees is the new leadership style of the new C.E.O. The main concern of the suppliers is whether the new C.E.O. will want to revisit and revise their contracts.
Select which model (i.e., Kotter, Lewin, or ADKAR) should be used to address stakeholder concerns for this scenario. What impact will using this strategy have on organizational outcomes?	-The Lewin Model applies to these concerns. -It entails unfreezing, changing, and refreezing (Hussain et al., 2018). -Unfreezing is informing them of the C.E.O.’s replacement -Changing is welcoming the new C.E.O. Refreezing is making them get used to the new C.E.O.’s leadership
Describe how the organization’s management should communicate the implementation of the selected model.	The organization management should inform the stakeholders about the replacement of the C.E.O. and openly explain the reason that prompted the replacement. The message should ask stakeholders to be calm and patient and support the new C.E.O.
Identify what type of leadership personality is required for management to support and sustain the change.	The organization’s leadership should display empathy as the leadership personality (Nathanson, 2021). Empathy is all about understanding and responding to the emotions of the concerned stakeholders about the replacement of the C.E.O. they may have been used to.

References

Ahatfix. (2021). ADKAR Model: What Is It and How Do You Use It? Retrieved from             https://whatfix.com/blog/adkar-model-what-is-it-and-how-to-use-it/ DNB. (2021). Steel Dynamics, Inc. Retrieved from https://www.dnb.com/business-            directory/company-            profiles.steel_dynamics_inc.b7e2a6a1def4c0dc6079ce08373a2368.html Hussain, S. et al., (2018). Kurt Lewin’s change model: A critical review of the role of and employee involvement in organizational change. Journal of Innovation & Knowledge. Volume 3, Issue 3, Pages 123-127 MSG. (2020). Kotter’s 8-step Model of Change. Retrieved from             https://www.managementstudyguide.com/kotters-8-step-model-of-change.htm Nathanson., C. (2021). 15 Most Important Personality Traits of Effective Leaders. Retrieved             from https://online.jwu.edu/blog/MBA-personality-traits-effective-leaders Steeldynamics.com, (2022). Steel Dynamics. Retrieved from https://stld.steeldynamics.com/

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Benchmark – Three Scenarios of Organizational Change
Assessment Description
The purpose of this assignment is to explore organizational change within business today.

Using what you have learned about organizational change in class and by studying the topic Resources, assume the role of a consultant recommending style/manner or organizational change across three scenarios.

Select a for-profit company publicly traded in the United States to be your client. Conduct research about the company by visiting the company website and obtaining a copy of the annual report. In your study, accomplish the following to include a required mix of six sources, at a minimum:

– Explore and cite the company’s website.
– Review and cite investor presentations or the most recent letter to shareholders.
– Include and cite a minimum of four additional sources in your references list, with at least one from the Wall Street Journal.
– Apply in-text citations in the “MGT-325: Benchmark – Three Scenarios of Organizational Change” template to support all claims.

Using information directly from the company, offer recommendations for the following three unique scenarios by applying the Kotter, Lewin, and ADKAR theories to each one:

– Scenario 1: Industry and company earnings are falling fast, and the company finds it necessary to execute a three-phase staff reduction plan.
– Scenario 2: The company is in the final stages of acquiring a similar company.
– Scenario 3: Corporate misconduct requires the immediate replacement of the company’s C.E.O.

In your role as a consultant, you will make recommendations on the following:
– Identifying three key stakeholders who are impacted.
– Identifying the top concerns of these stakeholders.
– Selecting which model (i.e., Kotter, Lewin, and ADKAR) should be used to address stakeholder concerns for each scenario.
– Describing how the organization’s management should communicate the implementation of the selected model.
– Identifying what type of leadership personality is required for management to support and sustain the change.

Using what you learned from your research and subsequent analysis, complete the “MGT-325: Benchmark – Three Scenarios of Organizational Change” template by doing the following:

In 125 words, write a brand summary for your selected company.
For the five responses required for each of the three scenarios, your responses for each response should be 35 words (i.e., 175 words total for each scenario).
While A.P.A. style is not required for the body of this assignment, solid academic writing is expected, and documentation of sources should be presented using A.P.A. formatting guidelines, which can be found in the A.P.A. Style Guide located in the Student Success Center.

You are required to submit this assignment to LopesWrite.

Benchmark Information
This benchmark assignment assesses the following programmatic competencies:

B.S. Applied Management 3.1; B.S. Business Management 5.4; B.S. Educational Studies 4.4

Evaluate change management strategies and their impact on organizational outcomes.