Final
Posted: 17 Dec 2019, 16:06
BUS 345: Business in Society was based on culture, design and society, preparing students to navigate and negotiate creative action, innovative organizing, cultural insights, design thinking and visual spaces in the twenty-first century. You placed a very strong emphasis on the impact fishbowl would have on our learning, as it was drilled into my mind over the duration of the course. Our society is in a period of dramatic change with the transformation from an industrial-based to a knowledge-based economy, as well as technological advances, fiscal challenges of higher education, and cultural shifts in society as a whole. Increasing collaborations between communities and universities is crucial in order to influence the public good during this time of dramatic change. Individually and collectively, institutions of higher education possess considerable resources, which are critical in addressing significant social issues. Business in Society is a course for impact, innovation and engagement. The Fishbowl was designed to create a society within a virtual community and for students to engage with each other and thereby produce innovative work in a textual environment through the improvement in writing, vocabulary and knowledge. The class was based on four concepts of business concepts; unique innovative capabilities, dynamic decision making, complex adaptive systems, and innovative network.
The recognition of innovation capability as a key success factor in an increasingly competitive, global economy has laid the groundwork to explore new practices of management. Unique innovation capability is an important factor that facilitates an innovative organizational culture, capabilities of understanding and responding to the external environment and characteristics of internal promoting activities. In the business world, innovation capability is the ability of a firm to transform an idea into something new which creates economic value. Value is something that is relatively worth which determines wealth creation. The economic value would increase profit and consequently firm performance. Innovation capability is derived from the word innovation and capability. The term innovation is the production or adoption, assimilation, and exploitation of a value-added novelty in economic and social spheres; renewal and enlargement of products, services, and markets development of new methods of production and establishment of new management systems. Innovation implies invention plus exploitation which produces value. On the other hand, capability is the ability of a firm to generate and develop ideas and create opportunities which will guarantee the firm’s future undertakings. Capability is the processes and functions that enable a firm to deliver high quality product and services with speed, efficiency and high customer service. It is through capabilities that enable businesses to create value and stay competitive. Throughout the course of Business in Society, we have learned through our fishbowls and in class lectures, the importance of creating value, individually and collectively. We have been taught the importance of learning and innovation in the Fishbowl. Unique innovation capability was learned in the Fishbowl “looking at each other, and looking at ourselves looking at ourselves.” The Fishbowl acted as a digital communication technology that students learned from collectively and created shared value and collective intelligence. Class lectures were experienced, interpreted and posted in the Fishbowl after individual self-reflection and shared among classmates, creating a society. Our unique innovative capabilities were improved through evaluating and articulating the significance of our own work and creating value collectively.
Dynamic decisions are characterized by a decision maker choosing among various actions at different points in time in order to control and optimize performance. Thinking is a way of producing, interpreting, and using knowledge. It is a method for solving problems and organizing complex sets of concepts and fragmented views. Dynamic decision-making skills help decision makers process information, formulate flexible action plans, and balance multiple objectives in many real-world problems. Dynamic decision making can be defined as making a series of interdependent decisions in an environment that changes over time due to consequences of the decisions made. Self-reflection help decision makers adapt to environments and situations because it facilitates their ability to relate new information to prior knowledge and to understand ideas and feelings. Thus, self-reflection is a critical process for the reason that it enables the decision maker to make strategic adjustments to situational changes. Self-reflection is the evaluation of one’s own thoughts, feelings and behaviors. Decision makers who regularly self-reflect on feedback have a more accurate idea of progress in relation to their goals, a more comprehensive understanding regarding the appropriateness of their strategies, and strategic control in pursuit of their goals. In business, managers are required to make effective decisions in a dynamic and uncertain world. Dynamic decision making that promotes self-reflection allows managers to react with more sensitivity to the demands of the situation and ultimately perform better. Fishbowl allowed us to practice dynamic decision making through self-refection. We improved our work by self-evaluating and working together to optimize performance.
Complex adaptive systems consist of diverse components that are interdependent, act as a unified whole, and have the ability to learn from experience and adapt to change over time. the evolution of the system is the result of interactions between agents, where each of them acts in response to the behavior of the other agents in the system. The behavior of each agent influences and is influenced by the behavior of the system as a whole. Complex adaptive systems learn and evolve, using an adaptive approach that is fundamental to their survival, processing information, and constructing schema based on what they have experiences. Examples of Complex Adaptive Systems include the global economy, emerging cities, online social networks, and the internet. In the business world, organizations face significant business challenges, intense competition, and rapidly changing markets. Both the internal and external business environments are evolving at a rapid pace with the advances in technology, and changes in customer requirements, markets and regulations. To survive in the global market, organizations have to develop and improve their competencies. They have to be agile, adaptive, and responsive to changes in both internal and external business environment. Complexity explains how markets work, what organizations and industries do to survive and evolve, and encourage market processes by adopting the features of complex adaptive systems to create more responsive and agile organizations. The features of complex adaptive systems are adaption, emergence, self-organization, and cooperation. Adaptive behavior consists of several interacting agents at the organizational level that create innovation in continuous change. Emergent behavior is determined by the collective interactions and adaptions of all agents, showing signs of collective intelligence through the way its components learn, react, and evolve around each other. A complex adaptive system starts to self-organize with simple rules and goals, which in the long run gives rise to an organized complex formation. The end result is a configuration that is capable of moving in harmony without external control. Cooperative behavior in a complex adaptive system enables organizations in an industry to change, evolve, and grow rapidly. When firms cooperate, they can develop compatible networks and can grow their extent of their network. The larger the network is, the more consumers can be reached and the higher the revenues will be for the perspective firms. Through the use of the Fishbowl, we were able to exercise the complex adaptive system. The class consisted of diverse, unique students grouped together to act as a whole. As a network of individuals, groups and connections, we were all impacted by the actions of other classmates. The groups in the Fishbowl were a collection of people with different ideas and expertise unified together to share and create value. Each member had a responsibility to share their knowledge in the Fishbowl and collectively work together to improve and help one another.
Innovative networking structure is collaborative innovation that makes use of internet platforms to promote communication and innovation within self-organizing teams. Collaborative innovation is a process in which different groups work together to solve a common goal by having collective vision and sharing ideas, information and work. Innovative networking connects people in ways that break the barriers imposed by formal organizational structures so they can discover, aggregate, synthesize and codify new knowledge. In business, firms collaborate in networks to gain access to new or complementary competencies, technologies and markets. Business networking is critical for accessing knowledge to create innovations, diffusion of innovation, and learning about innovative work practices that other organizations have developed or adopted. Innovative networking influences businesses by enhancing access to knowledge, which promotes awareness and early adoption of innovations, and promoting social interaction, which generates trust and reciprocity that is conductive to knowledge transfer. A network is defined as a firm’s set of relationships with other organizations. Firms form network relationships with other firms as a way of obtaining access to resources they lack and to get ideas and gather information and advice. Through networking, the success rate of entrepreneurial initiatives can be enhanced because interpersonal and inter-organizational relationships enable actors to gain access to a variety of resources held by other agents. Fishbowl nurtured creative practice, from initial spark to finished outcome. Fishbowl was our internet platform that promoted communication and innovation, creating out own network. We were influenced by the work of other classmates and improved our own.
This course allowed us to put into perspective different ideas and knowledge from different classmates. We learned that we can expand our knowledge and learning through teamwork and communication. As we used the Fishbowl, our self-reflections of our own work helped us improve and grow collectively as a community. Business 345 has dramatically expanded my knowledge, vocabulary, and how I view the world.
The recognition of innovation capability as a key success factor in an increasingly competitive, global economy has laid the groundwork to explore new practices of management. Unique innovation capability is an important factor that facilitates an innovative organizational culture, capabilities of understanding and responding to the external environment and characteristics of internal promoting activities. In the business world, innovation capability is the ability of a firm to transform an idea into something new which creates economic value. Value is something that is relatively worth which determines wealth creation. The economic value would increase profit and consequently firm performance. Innovation capability is derived from the word innovation and capability. The term innovation is the production or adoption, assimilation, and exploitation of a value-added novelty in economic and social spheres; renewal and enlargement of products, services, and markets development of new methods of production and establishment of new management systems. Innovation implies invention plus exploitation which produces value. On the other hand, capability is the ability of a firm to generate and develop ideas and create opportunities which will guarantee the firm’s future undertakings. Capability is the processes and functions that enable a firm to deliver high quality product and services with speed, efficiency and high customer service. It is through capabilities that enable businesses to create value and stay competitive. Throughout the course of Business in Society, we have learned through our fishbowls and in class lectures, the importance of creating value, individually and collectively. We have been taught the importance of learning and innovation in the Fishbowl. Unique innovation capability was learned in the Fishbowl “looking at each other, and looking at ourselves looking at ourselves.” The Fishbowl acted as a digital communication technology that students learned from collectively and created shared value and collective intelligence. Class lectures were experienced, interpreted and posted in the Fishbowl after individual self-reflection and shared among classmates, creating a society. Our unique innovative capabilities were improved through evaluating and articulating the significance of our own work and creating value collectively.
Dynamic decisions are characterized by a decision maker choosing among various actions at different points in time in order to control and optimize performance. Thinking is a way of producing, interpreting, and using knowledge. It is a method for solving problems and organizing complex sets of concepts and fragmented views. Dynamic decision-making skills help decision makers process information, formulate flexible action plans, and balance multiple objectives in many real-world problems. Dynamic decision making can be defined as making a series of interdependent decisions in an environment that changes over time due to consequences of the decisions made. Self-reflection help decision makers adapt to environments and situations because it facilitates their ability to relate new information to prior knowledge and to understand ideas and feelings. Thus, self-reflection is a critical process for the reason that it enables the decision maker to make strategic adjustments to situational changes. Self-reflection is the evaluation of one’s own thoughts, feelings and behaviors. Decision makers who regularly self-reflect on feedback have a more accurate idea of progress in relation to their goals, a more comprehensive understanding regarding the appropriateness of their strategies, and strategic control in pursuit of their goals. In business, managers are required to make effective decisions in a dynamic and uncertain world. Dynamic decision making that promotes self-reflection allows managers to react with more sensitivity to the demands of the situation and ultimately perform better. Fishbowl allowed us to practice dynamic decision making through self-refection. We improved our work by self-evaluating and working together to optimize performance.
Complex adaptive systems consist of diverse components that are interdependent, act as a unified whole, and have the ability to learn from experience and adapt to change over time. the evolution of the system is the result of interactions between agents, where each of them acts in response to the behavior of the other agents in the system. The behavior of each agent influences and is influenced by the behavior of the system as a whole. Complex adaptive systems learn and evolve, using an adaptive approach that is fundamental to their survival, processing information, and constructing schema based on what they have experiences. Examples of Complex Adaptive Systems include the global economy, emerging cities, online social networks, and the internet. In the business world, organizations face significant business challenges, intense competition, and rapidly changing markets. Both the internal and external business environments are evolving at a rapid pace with the advances in technology, and changes in customer requirements, markets and regulations. To survive in the global market, organizations have to develop and improve their competencies. They have to be agile, adaptive, and responsive to changes in both internal and external business environment. Complexity explains how markets work, what organizations and industries do to survive and evolve, and encourage market processes by adopting the features of complex adaptive systems to create more responsive and agile organizations. The features of complex adaptive systems are adaption, emergence, self-organization, and cooperation. Adaptive behavior consists of several interacting agents at the organizational level that create innovation in continuous change. Emergent behavior is determined by the collective interactions and adaptions of all agents, showing signs of collective intelligence through the way its components learn, react, and evolve around each other. A complex adaptive system starts to self-organize with simple rules and goals, which in the long run gives rise to an organized complex formation. The end result is a configuration that is capable of moving in harmony without external control. Cooperative behavior in a complex adaptive system enables organizations in an industry to change, evolve, and grow rapidly. When firms cooperate, they can develop compatible networks and can grow their extent of their network. The larger the network is, the more consumers can be reached and the higher the revenues will be for the perspective firms. Through the use of the Fishbowl, we were able to exercise the complex adaptive system. The class consisted of diverse, unique students grouped together to act as a whole. As a network of individuals, groups and connections, we were all impacted by the actions of other classmates. The groups in the Fishbowl were a collection of people with different ideas and expertise unified together to share and create value. Each member had a responsibility to share their knowledge in the Fishbowl and collectively work together to improve and help one another.
Innovative networking structure is collaborative innovation that makes use of internet platforms to promote communication and innovation within self-organizing teams. Collaborative innovation is a process in which different groups work together to solve a common goal by having collective vision and sharing ideas, information and work. Innovative networking connects people in ways that break the barriers imposed by formal organizational structures so they can discover, aggregate, synthesize and codify new knowledge. In business, firms collaborate in networks to gain access to new or complementary competencies, technologies and markets. Business networking is critical for accessing knowledge to create innovations, diffusion of innovation, and learning about innovative work practices that other organizations have developed or adopted. Innovative networking influences businesses by enhancing access to knowledge, which promotes awareness and early adoption of innovations, and promoting social interaction, which generates trust and reciprocity that is conductive to knowledge transfer. A network is defined as a firm’s set of relationships with other organizations. Firms form network relationships with other firms as a way of obtaining access to resources they lack and to get ideas and gather information and advice. Through networking, the success rate of entrepreneurial initiatives can be enhanced because interpersonal and inter-organizational relationships enable actors to gain access to a variety of resources held by other agents. Fishbowl nurtured creative practice, from initial spark to finished outcome. Fishbowl was our internet platform that promoted communication and innovation, creating out own network. We were influenced by the work of other classmates and improved our own.
This course allowed us to put into perspective different ideas and knowledge from different classmates. We learned that we can expand our knowledge and learning through teamwork and communication. As we used the Fishbowl, our self-reflections of our own work helped us improve and grow collectively as a community. Business 345 has dramatically expanded my knowledge, vocabulary, and how I view the world.