While the short story was not the first fictional genre to make its appearance during the course of the 19th century, it certainly was the first to adapt itself to a new cultural environment, as writers set about using it as a means… Analysis of the genre As a genrethe short story received relatively little critical attention through the middle of the 20th century, and the most valuable studies of the form were often limited by region or era. By far the majority of criticism on the short story focused on techniques of writing.
Empirical analysis reveals that conventional wisdom about big, risky change initiatives is often wrong. While transformation is ideally undertaken preemptively, in practice it is much more commonly a reaction to changing — and challenging — circumstances.
Such transformations represent a fundamental and risk-laden reboot of a company, with the goal of achieving a dramatic improvement in performance and altering its future trajectory. Given the stakes, we were startled to find that the research underpinning the design and execution of corporate transformations is surprisingly thin.
As a result, transformations are often guided by beliefs that, while seemingly plausible, are more anecdotal than empirical in nature. To study corporate transformation and its success factors, we analyzed financial and nonfinancial data of all U.
This definition provided us with a large data set for empirical analysis including more than companies across different industries over more than a decade. And we conducted a multivariate regression analysis to determine the impact of a number of factors on change in TSR during transformations.
Empirical Patterns of Transformation Our analysis reveals that leaders must be ready to transform their companies: We also found that successful recovery from a severe episode of deterioration is the exception rather than the norm: Only one-quarter of the companies were able to outperform their industry in the short and long run after the point of deterioration.
This pattern of frequent failure in turnarounds is striking. A few other significant patterns emerged from the evidence.
For one thing, the need for transformation and its risks were higher when digital disruption was involved. Moreover, tech companies were among the least likely to outperform their industry following a corporate transformation, along with the companies in the consumer sector, which also has experienced a high level of digital disruption.
This pattern suggests that leaders must recognize performance deterioration early and act quickly, because if they wait for a point of deep crisis, their company may never recover.
Finally, we found that patterns of transformation differ by competitive volatility, as measured by changes in industry sales ranking. Companies in turbulent competitive environments that is, in industries located in the top quartile of changes in sales ranking were more likely to require corporate transformation and more likely to fail at it than organizations in stable competitive environments.
And transformations were also riskier for companies in turbulent environments, with a lower chance of recovery -5 percentage points in the long run. Five Evidence-Based Factors in Transformation Success Considering the increasing pace of technological change and volatility in many industries, the patterns suggest that the need for transformation is rising, while the chance of successfully achieving it is falling.
On the positive side, our empirical research also reveals a number of factors that can help large companies beat the odds. Efficiency and investor expectations are key to short-term success in transformations As might be expected, our analysis found that organizations that successfully recovered from severe TSR deterioration relied on cost-cutting as a principal driver during the first year of their turnaround effort.
This suggests that to get a transformation off on the right foot, simply cutting costs is not enough. Leaders also must regain investor confidence, by telling a convincing story about how they will leverage their newfound flexibility for future success.
In doing so, they can ensure that the company remains viable and resists short-term market pressures, funding the journey for future stages of transformation. While cost-cutting and investor expectations are necessary to ensure transformation viability in the short term, after year one of a transformation, our research reveals that revenue growth becomes an increasingly important driver of TSR success.
By year five, it outweighs each of the initial primary drivers of success. Graph excludes negative contributions. Based on TSR growth relative to industry over given time frame from turnaround sample. This is especially important in an era of secular change, when companies cannot rely on a cyclical bounce-back to restore performance, but instead, must learn how to thrive in a new environment.It was originally written as a short story.
In , These questions focus on interpretation, critical analysis and personal response, employing consent of Teacher's Pet Publications, Inc. 6. UNIT OBJECTIVES Flowers for Algernon 1. Through reading Flowers for Algernon. Watch video · Share This Story! Let friends in your social network know what you are reading about Analysis: How Shea Patterson engineered winning touchdown.
Grades: It's a win, Jonathan Daniel. From his language, it's clear that to him to be 'Zionist' in this country means to be foreign and out of place Jeremy Corbyn speaking at the event, hosted by the Palestinian Return Centre.
Daniel Polsky, Ph.D., is the Executive Director of the Leonard Davis Institute of Health Economics, Professor of Medicine in the School of Medicine and the Robert D. Eilers Professor of Health Care Management in the Wharton School at the University of Pennsylvania.
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