Businesses are having a tough time during these years of technology growth. Companies need to evolve and have good leadership in order to weather the stormy economy and fickle consumer. Leaders need to make smart decisions on the direction of their business. Today I will talk about some poor decisions that a company made and the consequences of those decisions. I will also go over some leadership definitions and provide the differences.
Radio Shack started business in 1921. They have since declared bankruptcy and are closing most of their stores (Sneider, 2017). What happened in the last couple of years that made a company that has been around almost one hundred years be on the brink of extinction.
Well it seems it started with the decline
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The principles are to be fully present, be adaptable and aware and to contribute (Hansen 2012). Contributing means to not react to a situation but to influence a situation. “Aikido emphasizes the blending, rather than resisting, of energy from an attacker (or situation)” according to Hansen.
SMART is a way to keep accountable on your goals. It is an acronym that stands for Specific, Measurable, Attainable, Relevant and Timely (YourCoach, n.d.).
SWOT analysis is a way to discover opportunities while evaluating, managing and eliminating threats. SWOT stands for Strengths, Weaknesses, Opportunities and Threats. Strengths and Weaknesses are typically internal while Opportunities and Threats are external. It is also called an Internal-External Analysis (MindTools, 2018).
The Delphi analysis is a forecasting tool whereby a set of questions are sent out to a group and everyone answers them anonymously. They are then tallied by one person and he/she decides if another round is necessary based on the results (Investopedia, n.d.).
STAR is an interviewing technique that employers use. It stands for Situation, Task, Actions, and Results. It is about telling your resume in a story (Carniol, 2013).
The GROW model is for coaching and mentoring. It stands for Goal, Current Reality, Options or Obstacles and Will or Way Forward (MindTools,