Which the butterfly effect might apply to business

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Assignment:

Can you think of ways in which the butterfly effect might apply to business? While classic systems theory conceptualized feedback as a control mechanism that brings order to systems, non-linear dynamic systems can become chaotic when feedback is present. Take the behavior of the stock market as an example of feedback that leads to chaotic conditions. "As the value of a stock rises or falls, people are inclined to buy or sell that stock. This, in turn, further affects the price [and trading volume] of the stock, causing it to rise or fall chaotically" (Fractal Foundation, n.d., p. 1). Think of a situation you are encountering or have encountered at work that either depicts a chaos theory, complexity theory, or self-organizing theory situation. Describe the situation that was encountered, which type of systems theory do you think it resembled, how was it addressed, and what feedback loops were implemented if any?

Reference no: EM133675559

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