Critically assess and describe how businesses can manage change effectively?
Businesses are dynamic in nature and change is a fundamental part of any organizations survival and progression. The ability to manage change effectively will undoubtedly increase a company's competitive advantage. Managers have a responsibility to create an environment where change is embraced so that a business can obtain every possible advantage in the dynamic marketplace.
Through the initialization of a number of strategies to reduce resistance to change, as well as setting achievable goals and creating a culture of change, the business can freely move forward and in turn maximize efficiency.
The wider business environment should be under constant surveillance from managers. Trends in the marketplace should be identified so that the business can change accordingly in order to capitalize. If the need for change can be identified prior to that of a competitor the Company can take full advantage of the 'head start' and increase its competitive advantage.
Management of change however, is not merely ordering a change and then waiting to view the repercussions. The main challenge which today's businesses face in managing change successfully is implementing the change with minimum resistance and maximum benefit.
One of the major contributing factors to resistance to change is from 'fear of the unknown'. By building employee trust and offering support greater confidence is placed in management and thus resistance to change from employees is considerably smaller. In addition, if the change is supported by new training, and these changes are open to criticism and participation from the business' internal stakeholders, concerns which may have caused grievance and resistance can be laid to rest, streamlining the company's direction. When employee apprehension is minimized, common business goals can be more productively achieved.
In conjunction to the mission statement a business establishes specific...