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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...

What did you learn about leadership from this experience?


According to Reardon, Reardon & Rowe (1998), The five stages of radical change are
1) Planning stage; where leaders are responsible for gathering information, comparing alternatives, determining issues and obstructive and assessing the pros and cons in each alternative
2) Enabling stage; in this stage, leaders explain change's plan for followers and subordinates, convince them to contribute and enabling them in preparing to launch the change process by using communication, participation, and discussion.
3) Launching stage, where the change process is commenced to meet specific goals, achieve results and assess progress, in this stage leaders use commanding, convicting and logic.
4) Catalyzing stage; where leaders persuade people through the change process, handle different uncertainties, involve and energize them using inspiration and supportive style.
5) Maintaining stage; where leaders guide and motivate people to continue their efforts using logical, persuasion, and compassionate style.
Reardon, Reardon & Rowe (1998) also argued that, to manage radical change effectively, leaders should pursue appropriate leadership style at each stage according to the situation and stage. In the planning stage; leaders are acquiring information, creating ideas, and formulating strategy, thereby, leaders in this stage should be logical (cover all alternatives, have long term goals, uses analysis and questioning, learn from reasoning things through and are effective in strategy development goals) and inspirational leaders (able to develop meaningful visions, use radically new ideas, learn by experimentation and encourage people to follow the vision).  For Enabling stage; leaders explain plan, convince employees, empower and involve them and assist them, thereby, leaders should pursue a logical style, inspirational style and supportive style (they emphasize facilitator manners, and learn from observing outcomes). For Launching stage; leaders implement steps, meet goals, get results, and assess progress, thereby, leaders should pursue logical (they focus on performing, have short term goals, highly productive, and result-oriented), and commanding styles. For the Catalyzing stage; leaders are inspiring, energizing and assisting employees, thereby, leaders should pursue inspirational, and supportive styles. Finally, for Maintaining stage; leaders are overseeing progress, guiding, energizing and assisting employees, thereby, leaders should pursue logical, inspirational, and supportive styles.
In my current industry, in my company, before three years ago, the GM resigned, and a new GM was hired. the company was in a difficult situation where sales have been declined. In the meantime. The company consisted of three geographical areas, each geographical area has its own manager, each manager is closed to his area and there is no cooperation between the regions. When the new general  manager was appointed the first thing he did was sit with staff in each area, and then he made a work plan and a radical change in the structure of the company, where he canceled the structure according to areas and plan a new structure according to functions and not geographical area, then Thereafter, a three-day meeting of all staff was held in a private resort, at that meeting he explained his vision and goals. He inspired all employees to accept change and pursued all about his vision. Finally, after three years, the company achieved its goals and perform very strongly in the market. As a disruptive leader, he pursued the truth, guided employees through chaos, decisive, broken the rules and thrived on uncertainty (Hogue, 2015).  

References;
Hogue, F. (2015, Nov 9). 5 habits of truly disruptive leaders. Fast Company. Retrieved from https://www.fastcompany.com/3052725/5-habits-of-truly-disruptive-leaders
Reardon, K. K., Reardon K. J., & Rowe, A. J. (1998). Leadership styles for the five stages of radical change. Acquisition Review Quarterly, 2.

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