WK_4_DQ_GroupC - Lars Kolinds Deep Change for Oticon 1 Lars...

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Lars Kolind’s Deep Change for Oticon 1 Lars Kolind’s Deep Change for Oticon By: Group C: James Dwight, Eugene Jackson, Katherine Lynn, Ryan Mcphun, Sandra Paige, Lisa Phillips Date: December 29, 2011 Class: MGMT – 3102 – 5/BUSI – 3003 – 5 The Dynamics of Change Professor: Ralph Stauffer Walden University
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Lars Kolind’s Deep Change for Oticon 2 Introduction “Oticon was established in 1904 by Hans Demant, whose wife was hearing-impaired” . He brought back an electronic hearing aid for her, and it immediately became popular. Hans Demant began to export hearing aids to sell in Europe leading to the family-owned business— Oticon. “New management took over the company in 1956 and Oticon became number one in the world by the end of the 1970s”. Oticon had 15 percent of the world market, with sales in more than 100 countries. This company “had established itself as a leader in miniaturization, the technology used in mass production of behind-the-ear hearing aids” . “Oticon’s new CEO, Lars Kolind and his team became only the third management of Oticon since its inception in 1904”. He immediately went into action, “Kolind introduced drastic cost-saving measures and refocused the business on specific key segments”. The turnaround was dramatic. Kolind believed that the best method for achieving a competitive advantage in the industry would be to encourage a work environment that unleashed individual ability and to design a company proficient in the management of change. He set ambitious goals because to him change was essential to Oticon’s success. As a result of Project 330 Oticon saw large increases in productivity. Lars Kolind wanted Oticon to become “the preferred partner with the most professional hearing clinics and hearing aid dealers in the world” . He wrote a four page memo indicating additional changes that needed to be made so that the company would not only run faster, but better. According to …. Lars Kolind wrote in his memo that Oticon would be: a company where the employees enjoy what they do and why they do it; a company that is organized so that everyone understands what they are doing; a company where there are no limits that would hinder productivity; and a company where all employees have an opportunity to grow, and take
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Lars Kolind’s Deep Change for Oticon 3 on new challenges. Kolind’s goal was to ensure that all major departments such as sales, marketing, service, production, and administration worked as a unified team. He also wanted the
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WK_4_DQ_GroupC - Lars Kolinds Deep Change for Oticon 1 Lars...

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