MBA 765 - Reflections on Module 3

When choosing the best option for organizational closure, what categories of selection criteria seem particularly important to employ?
Reason and purpose for closure
Financial condition of the organization
Lifecycle stage of the business
Organizational structure of the company
Present condition of market environment and future projections of the market

Where would you look for possible organizational closure strategies?
Looking internally and externally, among all of the stakeholders will help one decide on the best closure strategy. The other places include the balance sheet, income statement, cashflow statements, and P&L statement. Other places are to look at the changing market environments as well as emerging markets.

Has the organization lost its way in terms of competitive advantages, vision, and mission? Has the company diversified too much and into businesses that do match their core competencies.

What are the dangers involved with identifying and selecting among closure options?
The obvious ones are the bias and prejudices of the leaders or consultants used in the decision making. Must be careful to list all the pros and cons after the true purpose of closure has been revealed in order to ensure it is the best way. Additionally, consultants, etc. may have hidden agendas or incentives that lead the organization down the wrong path.

Selecting the best closure option should attempt to ensure a win-win for all of the stakeholders and not just monetary gains for a few. One must be watchful for greed creeping into the decision making process.

What emotions are likely to surface during the process of identifying and choosing among options?

Assuming that the decision makers are the founders and close to the business being decided for closure, emotions will run high. Emotions will include worthlessness (for a failed business), fear, greed, guilt, emptiness, frustration, denial, anxiety, excited, optimist, secure, strong, empowered, and various other feelings - depending on the circumstances.

How would you deal with them?
The best way to deal with them is to first acknowledge each and every one of the emotions. Break them down to as why you feel the way you feel. Objectively looking at why these emotions are coming out may help you find the true reason or purpose for closure. Acknowledging them will also help you see the closure all the way through - execution and great follow through.

All of this will help you consul others on the management team, employees, and all other stakeholders.