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Source: Buccino and Associates; Seton Hall University Stiffman School of Business.
As reported in August 25, 2003, Business Week.
The phase of renewal is one in which the challenge of "preventing decline or reducing its affects" is critical. According to Johannssen (2005) "One way to reverse dry rot is through the use of training as a way of injecting new knowledge and skills. One may, however initiate a program that will with the injection of new training and skills provide an opportunity for the organizational culture to become transformed. Many organizations experience business failure due to factors that could have been controlled. Failure often results in acquisitions and mergers by larger organizations or failure may result in bankruptcy.
Summary and Conclusion
If an organization is to somehow rejuvenate during the phase of decline there will be a requirement for a leader who has the knowledge, skills, and personal commitment to transform the organization. If an organization is to survive the challenges within each of the stated phases of the organizations development lifecycle then the organization must commit time, resources, and other necessary provisions to the hiring, training and developing of organizational leaders who will know what to push towards...
This requires planning, allocation of resources, and a committed pursuit within the organization for the development of promising future leaders who will be able to face the challenges as they arise.
References
Johannsen, Murray (2005) Five Phases of the Organizational Life Cycle http://www.legacee.com/FastGrowth/OrgLifeCycle.html.
Buccino and Associates (2003) Seton Hall University Stiffman School of Business. As reported in August 25, 2003, Business Week.
Huffington, Claire, et al. (200) A Manual of Organizational Development: The Psychology of Change
Handy, C. (1981) Understanding Organizations; London. Penguin, 1981.
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