DQ1. Implementing Change in the New Business:
An effective way of implementing change in the new business is to build and communicate the reasons and the vision supporting the change. The management can implement a successful change by identifying the key changes required. These may include clarifying the main problems, ascertaining the obstacles, and determining the level of risks. The management will also need to win the support of every important individual working in the business, particularly to avoid the people’s disruption failing the change initiative. The process of implementing change in a new business needs the willingness and cooperation of employees and management. In this perspective, the management needs to motivate and work closely with the workforce in order to integrate new practices and working methods in the changed business environment. The change implementation factor will also require the management to consider identifying and assessing the key stakeholders, and evaluate the organizational performance using PEST or SWOT analysis. The management even needs to estimate the cost of change implementation in order to avoid any financial barrier or consequence resisting the change.
A vision of an organization serves as an essential tool for implementing change to implement the change (Kotter, 2007). The vision of business is linked with implementing change as it helps to restructure the organization’s responsibilities, relationships, regulations, and roles. The vision motivates the employees to understand the need for desired change, join the change campaign, and cooperate in the change initiative process, thereby helping the management to implement a successful change. The vision also leads the management to understand the ways of initiating new business practices and innovative working methods. During the change implementation process, the vision serves as a source of formulating new strategies and planning approaches, leading the organization towards a new set of expectation, relationship, and accountability structure. The link between the vision of business and implementing change is also obvious from the vision’s being attracting commitments and energizing people, creating values in employees lives, establishing standards of excellence, and bridging the organization’s existing needs with the implementation of change.
Reference
Kotter, J. P. (2007). Leading change. Harvard Business Review, 85(1), 96–103.
