Polarity management a priority in business

Assignment Help Accounting Basics
Reference no: EM13914630

In life, as well as business, people can experience two distinct types of problems; solvable problems and unsolvable problems. Solvable problems, also known as "either/or" problems, are those problems with one definite right answer. For example, "What is 2+2?" Unsolvable problems, also known as polarities or "both/and" problems, have two or more right answers with the answers being interdependent. For example, think about the process of breathing. The process of inhaling and exhaling are actually opposing actions, however both actions are needed in order to achieve a greater purpose, living. If one of the actions is overdone and one is neglected, we would die. There is no doing one OR the other. Both actions must be done to achieve the desired result, staying alive.

Polarity management is rarely discussed or taught in formal education. Problems presented in formal education must be solved by arriving at one right answer by using an either/or approach to problem solving. This approach becomes an automatic way of thinking when approaching problem solving from then on. However when using this either/or approach to solve polarities, it can make the problem worse. According to a study done by Dr. Barry Johnson "there is a significant competitive advantage for those leaders, teams, or organizations that can distinguish between a problem to solve and a polarity to manage and are effective with both" (Johnson Ph. D., 1998). This competitive advantage is why making polarity management a priority in business can prove to be essential in business success. To assist in the process of managing polarities, a six step approach has been developed. The 6-Step Process is as follows;

1.       Define the Issue

2.       Identify key stakeholders

3.       Build a polarity map

4.       Understand how polarities work

5.       Assess how well this polarity is working

6.       Develop a plan and early warnings to manage this polarity (Irvin, 2008)

Reference no: EM13914630

Questions Cloud

Identify each event as asset source : Identify each event as asset source (AS), asset use (AU), asset exchange (AE), or claims exchange (CE). Also identify the account to be debited and the account to be credited when the transaction is recorded.
Record each of the preceding events : Collected $24,000 of cash in advance for services to be provided over the next 12 months.
Capitalized cost of machinery : Which of the following costs would not be capitalized as part of the cost of machinery
Complete the aging analysis of accounts receivable : Complete the aging analysis of accounts receivable. Compute the end-of-year balances (before adjustments) of Accounts Receivable and Allowance for Uncollectible Accounts.
Polarity management a priority in business : In life, as well as business, people can experience two distinct types of problems; solvable problems and unsolvable problems. Solvable problems, also known as "either/or" problems, are those problems with one definite right answer.
Prepare a before-closing trial balance : Began operations when the business acquired $40,000 cash from the issue of common stock. Performed services and collected cash of $2,000. Collected $9,000 of cash in advance for services to be provided over the next 12 months. Provided $24,000 of ser..
How many trips will the truck make : A swimming pool with a square base is to be filled with a water truck with a 2,500 U.S. gallon tank. If the width of the pool is 6.75 m and its fill depth is 6.50 feet. How many trips will the truck make
Fred constitutional rights : 1. Fred calls an off duty police officer a clown. Bill, the police officer objects and decides to get even with Fred. The next day while on duty, Bill enters the back door of Fred's house and finds crack cocaine in his bedroom. Fred's Constitution..
Forward hedge to hedge its malaysian ringgit receivables : Money Corp. frequently uses a forward hedge to hedge its Malaysian ringgit (MYR) receivables. For the next month, Money has identified its net exposure to the ringgit as being MYR1,500,000. The 30-day forward rate is $.23. Based on this information, ..

Reviews

Write a Review

Accounting Basics Questions & Answers

  How much control does fed have over this longer real rate

Hubbard argues that the Fed can control the Fed funds rate, but the interest rate that is important for the economy is a longer-term real rate of interest.   How much control does the Fed have over this longer real rate?

  Coures:- fundamental accounting principles

Coures:- Fundamental Accounting Principles: - Explain the goals and uses of special journals.

  Accounting problems

Accounting problems,  Draw a detailed timeline incorporating the dividends, calculate    the exact Payback Period  b)   the discounted Payback Period. the IRR,  the NPV, the Profitability Index.

  Write a report on internal controls

Write a report on Internal Controls

  Prepare the bank reconciliation for company

Prepare the bank reconciliation for company.

  Cost-benefit analysis

Create a cost-benefit analysis to evaluate the project

  Theory of interest

Theory of Interest: NPV, IRR, Nominal and Real, Amortization, Sinking Fund, TWRR, DWRR

  Liquidity and profitability

Distinguish between liquidity and profitability.

  What is the expected risk premium on the portfolio

Your Corp, Inc. has a corporate tax rate of 35%. Please calculate their after tax cost of debt expressed as a percentage. Your Corp, Inc. has several outstanding bond issues all of which require semiannual interest payments.

  Simple interest and compound interest

Simple Interest, Compound interest, discount rate, force of interest, AV, PV

  Capm and venture capital

CAPM and Venture Capital

Free Assignment Quote

Assured A++ Grade

Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!

All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd