Week 4

 1. Change is an inevitable part of life, especially in the workplace. About a decade ago, in the middle of my dental career, I encountered a situation where I resisted a significant change in the workplace—the transition from using traditional dental film X-rays to digital X-rays. This change was challenging for me primarily because I needed to gain the necessary training and understanding of the digital software provided. The transition to digital X-rays represented a fundamental shift in how we operated in the dental office. It required us to abandon familiar processes and embrace new technology that I was not entirely comfortable with. As someone who values efficiency and accuracy, I was concerned about how this change would impact my ability to perform my duties effectively. The fear of the unknown and the feeling of being unprepared for this technological shift made me resist the change.      Reflecting on the assigned reading in this unit, I now understand that effective change management is crucial for minimizing resistance in the workplace. The organization could have taken several steps to lower my resistance to the change. Firstly, providing comprehensive training on the new digital X-ray software would have benefited immensely. By investing in proper training and resources, the organization could have equipped employees with the knowledge and skills to navigate the transition smoothly. According to a Journal of History, Culture & Art Research article, "Positive psychological capital plays an important role in organizational change processes (Jabbarian et al., 2016)".      Additionally, involving employees in decision-making and seeking feedback could have helped alleviate concerns and fostered a sense of ownership in the change. Clear communication about the reasons behind the change, its benefits, and how it aligns with the organization's goals would also have been instrumental in gaining employee buy-in. Reflecting on this transition, I realized that the dental practice benefited from the change over time. Once everyone adapted to the changes of not processing films in a 'dark' room and no longer having to leave the patient unattended, the time saved was an improvement! It seems ancient to have ever processed a full-mouth series of films in a dark room by memorized feel compared to now when digital imaging has been ingrained into the process and tremendously saves staff and patients time and effort. According to the textbook, it is essential to "Overcome resistance to change by actively communicating with workers and encouraging their participation in the change process (Daft, 2021, p512)".

2.Most people that I have spoken to over the years, it seems, don’t like change. They don't like change in the workplace, change at home, or change in their personal life. If they can control

the change and can see the change coming, then it’s easier to accept. “Organizational change refers to the process of companies or organizations changing their structures, strategies, procedures, or cultures through measures such as downsizing, restructuring, outsourcing, and mergers. While it can have positive outcomes for the company, such as improved efficiency, performance, and profitability, the international literature suggests that organizational change is often implemented at the cost of employees’ working conditions and health” (Backhaus et al., 2024, P.2).      Approximately ten years ago, the organization that I work for implemented a new policy that all employees had to adhere to. The new policy was that any employee who carried a personal mobile phone while working had to sign a form with their mobile number attached. By signing this form, with all the wording attached, the employee gave the organization the right to ask to see their mobile phone at any time while working. They were also giving the organization the right to request past phone records, if need be, of the mobile phone that they were carrying to work by signing the new policy. If an employee decided not to sign the form, then they could no longer carry the mobile phone to work. Getting caught with a personal mobile phone without signing the form could lead to getting a negative write-up and, at most, termination.       When this new policy came out, several other employees and I resisted this change. Our thought process at the time was that we paid for the phones and the services attached to those phones, and we didn't want anyone to have control over something that we paid for out of our pocket. Some of us even went as far as getting two different phones, looking identical, one for work and one for personal. We would secretly still carry both phones, but only sign the form for the work phone.        As time went by and paying two different phone service bills, this got old fast. After a while, it was not worth having the two phones. I thought I was not doing anything wrong, so why am I so resistant to this policy? I think it was just the point of how this policy was presented to the employees so fast with a lack of communication beforehand made us very skeptical. “Communication means informing users about the need for change and the consequences of a proposed change, preventing rumors, misunderstanding, and resentment” (Daft, 2021, P.512). I do understand now, that there has been a misuse of social media, and other problems such as texting and mobile phone-related problems among certain employees for a while before the policy came into effect. If the organization had the right communication and the explanation of how the mobile phone was being abused, this policy might have been a smoother transition without as much resistance.      

3. According to Kopp, (2024),” A product life cycle is the length of time from when a product is introduced to the market until it's taken off shelves. There are four stages in a product's life cycle: introduction, growth, maturity, and decline. A company often incurs higher marketing

costs when introducing a product to the market but experiences higher sales as product adoption grows. Sales stabilize and peak when the product's adoption matures, though competition and obsolescence may cause its decline. The concept of product life cycle helps inform marketing and sales decisions, from pricing and promotion to expansion or cost- cutting"(Kopp, 2024, p. 76).          While learning i think that when it comes to  analyze the path of a product that was a hit in the market, we can consider the example of the Apple iPhone. Launched in 2007, the iPhone quickly became a revolutionary product in the smartphone market, leading to significant changes in consumer behavior and technology. The lifecycle of a product typically consists of several stages such as the introduction, growth, maturity, and decline. 1. Introduction- When the iPhone was first launched, it faced high marketing costs and low sales volume as consumers were unfamiliar with its features. 2. Growth-Following its introduction, demand surged rapidly as consumers recognized its innovative capabilities touchscreen interface, internet connectivity. 3. Maturity-As competitors entered the market with similar smartphones  such as Samsung Galaxy series, growth began to slow down. The iPhone reached a point where it had captured a significant share of the market. 4. Decline-Eventually, every product faces decline due to market saturation or changing consumer preferences. While the iPhone has maintained strong sales figures, it is now facing challenges from newer technologies such as folding phones and advancements in artificial intelligence. Economic profit is defined as total revenue minus total costs, including both explicit and implicit costs. It can be analyzed over two timeframes. In the short run, firms can earn economic profits if they are able to sell their products at prices higher than their average total costs. For Apple during the initial years after launching the iPhone. The company experienced substantial financial profits due to high demand and relatively low competition. The pricing strategy allowed Apple to set premium prices compared to competitors while maintaining high margins. In the long run, however, economic profits tended to normalize due to increased competition. As more firms entered the smartphone market offering similar features at various price points, Apple’s ability to maintain high prices diminished. The presence of substitutes led to price competition which eroded Apple’s profit margins. In the short run following its launch, Apple did make significant financial profits from the iPhone due to high demand and limited competition. In the long run, while Apple continues to generate substantial revenue from iPhones, it faces pressure on profit margins due to increased competition and market saturation. Thus, it is likely that Apple does not earn significant economic profits in equilibrium but rather normal profits typical of mature industries.       According to Hall, (2023),” In neoclassical economics, perfect competition is a theoretical market structure that produces the best possible economic outcomes for both consumers and society. Some economists use perfect competition as a benchmark for the performance of real

markets. In a perfectly competitive market, so many firms produce the same products that, in the long run, none can attain enough power to influence the industry. Economic profit is the profit earned above and beyond normal profit. There are no economic profits in a perfectly competitive market in the long run because, eventually, the drivers of profits cease to exist” (Hall, 2023, p.     4. Furbies, the interactive robotic toys that became a massive hit in the late 1990s, serve as an example of a product that initially brought significant economic profit to its firm. According to Erin (2024), “We build on existing research by relaxing the identification assumptions required for casus inference, and estimate the impact of local economic activity on recidivism” (p. 1). When first introduced, Furbies captured public interest with their unique, lifelike behavior and ability to interact with users. This novelty created a surge in demand, allowing the manufacturer to enjoy substantial economic profit in the short run due to high prices, limited competition, and a craze-driven market. During this initial boom, the firm likely exceeded both its variable and fixed costs comfortably, benefiting from a temporary monopoly-like status. However, as time passed, the excitement surrounding Furbies began to wane. Market saturation set in as more consumers purchased the toy, and competitors started developing similar products, reducing the product's uniqueness. Arnold (2019) states, Everyone deals with business firms on a daily basis. People buy goods from firms: cars, clothes, food, books, entertainment, and other products” (p. 521). The novelty factor wore off, and consumer interest shifted to newer, more innovative toys. In the long run, the economic profit for the firm diminished. Increased competition and changing consumer preferences drove prices down, and the market moved toward equilibrium. The firm may have attempted to revamp the product or introduce updated versions to sustain profitability, but maintaining the initial level of economic profit proved challenging. For many products like Furbies, long-term success requires ongoing innovation and brand adaptation. If a firm fails to adapt or refresh the product line effectively, it will eventually earn only normal profits that cover costs without the excess return experienced in the product's initial boom. They may even face losses as the market becomes oversaturated and consumer interest declines.