Discussion:
Review the :
1. THE PARADOX OF STRETCH GOALS: ORGANIZATIONS IN PURSUIT OF THE SEEMINGLY IMPOSSIBLE by SIM B. SITKIN ,,Duke University
KELLY E. SEE , New York University
C. CHET MILLER ,University of Houston
MICHAEL W. LAWLESS ,University of Maryland
ANDREW M. CARTON, The Pennsylvania State University
2. Creating the Climate and Culture of Success by BENJAMIN SCHNEIDER SARAH K. GUNNARSON KATHRYN NILES-JOLLY
3. Changing the deal while keeping the people by Denise M. Rousseau
Review the case of Tribune Group (2008). When is adaptive change too dynamic?
Which is the organization's greatest obligation: adapt to stay solvent or to remain steadfast in its commitments?
Are these mutually exclusive goals?
Tribune Group, the newspaper and television chain that publishes The Los Angeles Times and The Chicago Tribune, filed for bankruptcy protection. Part of the company's financial problems stemmed from a sharp drop in advertising revenue brought on by the recession as well as a general shift of advertising to the Internet. But Tribune's financial position worsened significantly by an attempt made by the company's CEO Sam Zell to take the company private and thus claim a tax-exempt status. The move resulted in an employee stock ownership plan, which was basically wiped out after the company declared bankruptcy.