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Comparison between two retail companies picked are Walmart and Costco

The two retail companies picked are Walmart and Costco whose 2017 Financial statement links are provided below: WALMART https://www.nasdaq.com/symbol/ wmt/financials?query=income- statement COSTCO https://www.nasdaq.com/symbol/ cost/financials?query=income- statement Both organizations are well known brands and position themselves well with their customer base. Walmart’s value proposition is “We save people money so they can live better”. On the other hand, Costco’s value proposition is “All-in-one convenience and everyday affordability”. Both retailers focus on cost saving for their customers. Looking at their financial statements and by analyzing them a few key areas are evident when comparing the two organization. Looking at the current ratio and quick ratio we can determine the short-term solvency of each organization. The current ratio can be determined by dividing the assets by the liabilities. Walmart’s current ratio sits at 0.86 while Costco’s sits at 0.99. The quick ratio is c
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The four hurdles


The four hurdles, which manager faces during the broad change within the organization, are  cognitive, limited resources, motivation and finally institutional politics (Harper Business, N.D.).
The steps discussed in the article will be perfect for the company, but in the project everything is a bit different. Some hurdles listed such as cognitive (to get employees understand the reasons for change) and motivational (to get them motivated for change) are actual for project management as well. Limited resources are among key obstacles almost always. However, institutional politics is something more important for organization than for a project. While telling “organization” we first think of long-term institution and structure, the word “project” makes us thinking of processes first of all. In my opinion, most changes including changes of culture are easier to do in a project than in an organization. Harrin suggests the practical steps of introducing the changes into the project   (Harrin, 2019):
·         Recognize the change
·         Asses the change with regards to budget, schedule, materials, etc.
·         Present the change to shareholders/clients
·        Receive approval or declination to proceed
This list of activities recognizes two of the hurdles (cognitive and limited resources), but did not include motivation and institutional politics.


I think that not always the best team to cope with a change project is the one composed only of experts in the matter, because experts in most cases are middle-age and older people, and the ideal team is comprised by people of mixed ages Young people brings energy, enthusiasm and fresh ideas. In addition, as the story of New York Police Commissioner Bill Bratton shows, it is good to have in the team not only experts but also users who know the issue from practical point of view.


References
Harrin, E. (22 January, 2019). How to Manage Changes On Projects. Retrieved from https://www.thebalancecareers.com/managing-changes-on-projects-4041353
Harper Business. (N.D.). How to Change Your Organization’s Culture. Retrieved from http://guides.wsj.com/management/innovation/how-to-change-your-organizations-culture/

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