MINISTRY OF EDUCATION AND TRAINING

UEH UNIVERSITY
SCHOOL OF MANAGEMENT

CHANGE MANAGEMENT

Class: ADC01
Lecturer: Đỗ Thị Thục Uyên

NAME ID CONTRIBUTION (%)

Nguyễn Viết Duy An 31191023006 100% (Question 1)
Đậu Nguyễn Hải Anh 31191023021 100% (Question 2)
Nguyễn Tấn Long 31191026069 100% (Question 3)
Lý Phương Uyên 31191026904 100% (Question 4)
Trương Thúy Vi 31191024248 100% (Question 5)

Question:
1. Discuss the merits of the following statement by Sir Martin Sorrell: “We have
no choice but to match our own pace of work to the demands of a superfast globalized
business world.”
According to the article, each organization will set its own pace of working based on
its experience, its own evaluation of internal processes. For instance, do all the people of the
company have enough preparation to be ready for the pace? Do and what experience do they
have? The speed or how fast the job has been done before? All of those are the judgment or
evaluations for the internal system. The pace a company set could be best for that company
according to previous measures but might not lead the company to compete with other
competitors to be the first leading company.
As the question of the sentence “we have no choice but to match our own pace of
work to the demands of a superfast globalized business world” with a combination of the
advice from Sir Martin “you have to be responsive; you shouldn’t attempt to fight it or slow
the pace down”. To survive or to get awareness from this competitive market, as a leader of a
company, he has no choice but to take full care of both internal and external speed.
To adapt and keep up with a superfast globalized business world, internal measures
help a company to be thoughtful about their current situation and current position, to identify
how much effort or how far they need to develop and improve their team to meet the

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 demands, to build up a strong communication system for the objectives, and also the speed
that we can adjust to catch up the market speed or in short “how fast can we run?”.
The pace or speed we set will be closely accordant with the change of the
environment and the competitive market; hence, as a leader, understanding and contriving
how to drive and control the change is important for remaining the competitiveness and
relevance of the company in this environment. The company needs to be aware of the current
speed of them is enough to face the challenges of their rivals but still ensure they are safe
from risk and being kicked out.
In conclusion, for the position like Sir Martin – a leader of a company, to maintain the
competitiveness and relevance of the company, they only get a leading pace if they know
their position is on the competitive race and they do not just only fight with their co-ordinate
competitors but also meet the threat from unknown or newcomers that will also be ready to
take risks to exceed us.

2. How can you simultaneously manage fast and slow?

The world is changing with constant advancements in many fields, the ever-
accelerating pace of technology makes every second count. As leaders, we must measure
conversion rates based on competitiveness, and that requires keeping a close eye on internal
and external speed metrics.
We must gain experience and understanding of the opponent's situation as well as
evaluate and predict the future. This requires communicating with colleagues, reading
documents, and analyzing data. Furthermore, it is imperative to consider multiple scenarios
and develop strategies to steer our organizations to a desired outcome through different
assumptions.
Only after assessing the internal and external situation can we establish the necessary
speed for the company. If leaders act too quickly, their employees will be left behind. On the
contrary, if they go too slow, they will not be able to catch up with the competitors and meet
the market.
One of the commonly used ways to do that is for each employee to have two (or even
more) primary responsibilities. As business began to boom, temporary or part-time
employees were brought in to ease the pressure on those with multiple jobs. After the
deceleration, the necessary formalities were again reduced, and the company returned to its
core staff.
According to Ms. Heber-Percy, “Slow makes fast happen. We do things fast but well
for our customers because the technology has been well thought out. We can surface the right

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 information at the right time." Regularly stepping back from conflict means being able to
give serious thought to the strategic direction of the business. One of Ms. Heber-Percy's
regrets is that the company did not form a board of directors. She and her colleagues were
reluctant to take on mentors from the very industry they were trying to disrupt but, “it should
have been about slowing down and listening to people who have experienced," she speaks.
Time-consuming mistakes can be avoided.
Similar to Ms. Heber-Percy, Sarah Wood, co-founder, and chief executive officer of
British marketing technology company Unruly, regularly spends time with her co-founder
planning and building a business structure that enables rapid and makes tactical decisions

3. Tamara Heber-Percy argues that: “Slow makes fast happen.” What does this
mean? Illustrate your answer with examples from the real world.
In our opinion, “Slow makes fast happen” means that the organization needs to
quickly change and adapt to the changing market and customer needs in order to adapt to the
market fluctuation and catch up with customer demand. These fast figures would increase
company competitiveness. However, any change needs to be taken into consideration because
organizations can no longer afford to make these kinds of mistakes – especially technical
ones.
Therefore, in the sentence “Slow makes fast happen”, Slowing down implies
investing in things that are important in the long run and require time to develop, so that we
can move rapidly and be successful in the long run.
A real example could be seen in Vinfast. This company has stopped the production of
gasoline cars to switch to electric ones. This is a fast move of Vinfast in order to adapt to a
new market trend and improvement of technology. Although this is the first Vietnamese
company that has produced electric cars and gasoline cars still accounts for almost 100% in
both domestic and global markets, Vinfast is still careful prepare for new innovative
technology adaptation such as advanced driver assistance system (ADAS), series of smart
services such as voice control, smart virtual assistant or connect with e-commerce
applications. With Vinfast old gasoline cars, this company has fully budgeted for spare parts
with the quantity 1.5 times higher than usual to ensure customer service until the end of the
life cycle of each car sold. These factors demonstrate that Vinfast is fast in launching new
product lines but still be fully prepared.

4. If “speed control” is often about managing the short term and the long term,
what does this mean and how can it be achieved?

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 Literally, speed control is the control of how fast and slow a vehicle is to ensure the
safety of its users. In this case, people mention speed control and associate them with short-
term and long-term management.
In my opinion, “speed control” here can be seen as a tool in business development
strategies, while “short-term” and “long-term” as I understand it to be the length of time a
business can survive and grow based on the “speed” it chooses. Each business develops its
own unique growth strategies based on its unique circumstances and capabilities. Some
businesses adopt a rapid growth approach, dominating new markets, and inventing goods to
quickly position their brands and positions in new markets, while others choose to grow
slowly and steadily, going step by step to dominate the market. Each strategy has advantages
and disadvantages, depending on the capacity of the business. And, in order to be successful,
the company must be able to regulate the "speed" at which it chooses to develop.
Despite the fact that many businesses continue to grow at a rapid speed even in the
absence of adequate strategic planning or associated resources, in general, when businesses
grow too quickly, they have less time to research the market, understand competitors, and
optimize resources. But on the other hand, we cannot deny the outstanding benefits of
developing at a fast pace, such as being a pioneer in the market, thereby being able to set
certain standards for the market and create barriers for competitors to enter the market.
Some companies choose for themselves a slow growth rate, which can bring some
significant benefits such as better preparation, more carefully invested projects, resources are
not overloaded, and the latecomers can inherit the good things as well as learn from the bad
things of the pioneers. On the contrary, choosing to grow slowly can lead to some
inadequacies, namely not keeping up with market trends, which can lead to losing valuable
opportunities.
Overall, once again I affirm that each development strategy has its own pros and cons.
Based on different points of time, each business must choose its own speed and align that
speed depending on the ability and available resources, as well as the general situation of the
market.

5. How could you establish your own “golden time” and what benefits might you
achieve?
American JotForm founder Bone Tracy used to say: “If you want to enhance your
productivity, it depends on whether you can optimally use the time in a day and work when
you feel your best”. He calls this period the “golden time”, which is the most productive time

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 of the day. As long as you make good use of your prime time, you can improve efficiency and
avoid wasting precious time and energy.
So, the question is how I could establish my golden time and use it in work and life.
The three steps below show how I identify my golden time.
1. Record and score my daily time: I spent 3 consecutive weeks on the
experiment to find out when is my golden time. At the end of each day, I use a
score of 1 to 10 to evaluate my energy, attention, and motivation for that day.
Thus, I can determine my productive time from 2 p.m. to 5 p.m. and 8 p.m. to
1 a.m., 8 hours total.
2. Prepare in advance for my golden time: My golden time is from 2 p.m. to 5
p.m. and 8 p.m. to 1 a.m. so that in another time, I will finish my daily routine
or cooking in order to have the maximum concentration to complete my study
or job tasks in golden time.
3. Eliminate unnecessary interference: When I start studying or working, I will
have to eliminate outside interference as much as possible, which is I might
put away my phone or turn off unnecessary websites to make sure that my
concentration in this golden time is spent on studying and working.
Establishing my own golden time is an effective way to manage my time. Once I
identify my golden time and manage time, it leads to improved efficiency and productivity,
less stress, and more time to enjoy life. These below are some benefits I got after establishing
my own golden time:
1. Better productivity in less time: When establishing the golden time, I can
totally focus on tasks I must finish so that I do not procrastinate from doing
other unnecessary things during my golden time.
2. Identify exactly what needs to be done: I have 8 hours for concentration for
doing tasks so that is the reason I know what to do in that time to have the best
results.
3. Build discipline: Based on establishing golden time, I will set myself a
timeline for each task, and do it in such an order. When I get used to following
a plan based on time management, I can work more scientifically, less
spontaneously, and gradually create good habits for myself.

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