Business Strategy and Change Management
When people are threatened with change in organisations, similar maxims about certain people and departments are trotted out to prevent an alteration in the status quo. Fear of change is understandable, but because the environment changes rapidly, and it has been doing so increasingly, organisations cannot afford not to change. One major task of a manager, then, is to implement change, and that entails overcoming resistance to it. When people are threatened with organizational change, Similar guidelines for certain people and sectors are proposed to prevent changes to the status quo. Fear of change is understandable, but by
Because the environment is changing rapidly, and this change is getting bigger and bigger, the organization has to change. Therefore, one of the main tasks of the manager is to implement change, which requires overcoming resistance to change.
Business Strategy and Change Management
1-Read the article and look at the video carefully and prepare a one-page summary including main ideas and concepts. Later on, you must answer next two questions and send all information in PDF format by this task. Read the article and watch the video carefully, and prepare a one-page summary of the main ideas and concepts.
Later, you must answer the next two questions and send all the information in PDF format through this task.
2-What is the best way for companies to eloquently change course to stay competitive? What’s the best way to change course to stay competitive?
3-What approaches can be used to deal with resistance to change? Leather resistance? Job Analysis
This homework is divided into three parts, ask students to answer in turn.
first part
The first part of this assignment has two requirements: First, read an academic journal article in Harvard Business Review, namely
“Choice of Change Strategies”; and write after reading; second, watch a teaching video recommended by the teacher, and write the opinion hindsight. There is no clear word count requirement for post-reading and post-viewing, but it is required to be completed within the scope of 1 page of A4 paper. in your text
Must contain main ideas and concepts from journal articles and instructional videos.
Reminder: The academic journal article “Choice of Change Strategies” has been translated into Chinese for everyone to learn; teaching videos have also been Converted to the Chinese version of the text minutes for your reference.
the second part
The second part of this assignment is to answer the following questions:
What is the best way for companies to eloquently change course to stay competitive? Company Eloquent
What’s the best way to change course to stay competitive?
Julia Balogun and Veronica Hope-Hailey identify four general types of strategic change. The two axes in the figure above:
Horizontal axis – related to the degree of change, i.e. the desired end result; vertical axis – related to the nature of the change process, especially the speed close.
In terms of degree of change (horizontal axis), changes in line with current business models and culture are considered strategic realignments (realignment). A broader change that goes beyond the current business model or culture is transformational change.
We need to think about whether the change requires a major reconfiguration of the value chain, major changes to the activities that underpin strategic capabilities. Or a major cultural change? However, caution is required when considering the importance of the new strategy to the level of change required. For example, Businesses can launch new products without making fundamental changes to the organization’s business model or culture. On the other hand, strategically some changes, even if they don’t take the form of drastic product changes, may require a cultural change. For example, from the manufacturer
A shift in production focus to a customer-led service ethos may not require major product changes, but it may
Business Strategy and Change Management
Cultural change.
On the vertical axis of the graph above, the nature of the change is related to how fast the change needs to happen. It can be said that change in an organization is usually gradual
Incremental because it allows time to build on the skills, routines and beliefs of the people in the organization. it also allows learning with change, enabling adjustments based on experience. However, if an organization faces a crisis or needs To change direction quickly, a ‘big bang’ approach to change may be required.
At this point, it is not difficult to find that the change management method for enterprises to maintain their competitiveness by changing their business lines is to rebuild or transform.
Reconstruction or turnaround.
Reconstruction is rapid change, involving a lot of upheaval in the organization, but still not fundamentally changing the culture or business model. Therefore, heavy
Construction may include changing organizational structures or introducing cost-cutting programs. For diversified companies, restructuring may also involve acquisitions or
A divestiture of a business, which may involve substantial assets, may still be compatible with the underlying organizational structure and systems.
Classic rebuilding is a turnaround strategy in the face of a sharp decline in performance. Shift to strategy emphasizing rapid change, reducing costs
and/or revenue generation with the aim of rapid recovery. The first task of turning is to take action for quick and significant improvement. need to turn the tables
These situations include an economic downturn, the failure of a major investment project or the sudden collapse of an important market. The turnaround action not only
Just simple cost cutting. The five key elements of a steering strategy are:
- The crisis is stable. The aim is to regain control of the deteriorating location. This requires a short-term focus on reducing costs and/or increasing revenue, often
Some of the steps identified in the table below are involved. There is nothing new about these steps: many of them are good management practices.
The difference lies in the speed of their execution and the focus of managing attention. The most successful transformation strategies focus on direct operating costs
and long-term improvements in productivity, rather than just cutting obvious overhead costs, such as R&D or marketing spending.
Increase revenue and reduce costs
- Ensure tailored marketing to key market segments
combination
- Review pricing strategies to maximize revenue
- Focus organizational activities on target market sector customers
on demand
- Take advantage of additional revenue-generating opportunities relevant to your target market
- Invest cost-reduction funds in new growth areas
- Reduce labor costs and lower management costs
- Focus on productivity improvement
- Reduce marketing costs that are not focused on the target market
- Strengthen financial control
- Strictly control cash expenditure
- Establish competitive bids for suppliers; delay creditors
payment; expedited payment by debtor
- reduce inventory
- Elimination of non-profit products/services
- Management changes. Changes in management, especially at the top, may be required. This usually includes the introduction of a new chairman or chief executive
Executives, and changes to the board, especially in marketing, sales, and finance, for three main reasons: First,
Because old management is likely to be in charge of the problem as it develops and is seen by key stakeholders as the source of the problem; second,
Because it may be necessary to bring in management with experience in turnaround management; third, management change provides the opportunity to introduce new skills from outside the organization
Opportunities for skills and methods that are different from the old skills and methods that led to the initial crisis.
- Gain stakeholder buy-in. Poor quality information may have been provided to key stakeholders. turning the situation around
situations, important stakeholders, possibly banks or key shareholder groups, as well as employees in the improvements they are making
It is crucial to have a clear understanding of the situation and improvements. An explicit assessment of the power of different stakeholder groups may also
becomes critical to managing steering.
- Clarify target market and core products. Central to the success of the transformation is ensuring that the target market or most likely to generate cash and increase
Clarity of profit segments. A successful turnaround strategy involves getting closer to customers and improving the flow of marketing messages, especially
It is communication with senior management to focus revenue-generating activities on key market segments. Of course, the organization does not
One of the reasons it’s good may be that it made this mistake in the first place. A clear target market also offers discontinuation or outsourcing not targeting this
product and service opportunities in these markets, taking up management time with little or no return or sufficient financial contribution.
- Financial restructuring. The financial structure of the organization may need to change. This usually involves changing the existing capital structure, raising additional
Funds or renegotiate agreements with creditors (especially banks). Debt reduction will improve the organization’s stability in the face of future crises health.
Business Strategy and Change Management
the third part
The third part of this assignment is to answer the following questions:
What approaches can be used to deal with resistance to change?
resistance?
In the Harvard Business Review journal article “Choices of Change Strategies” recommended by the lecturer, the author has pointed out that
A clear answer to the question “how to properly deal with resistance to change” is given, so I won’t repeat it here. Students please see
Page 9 of the Chinese translation of the academic journal article “Choices of Change Strategies”.
Note: The above content is for your reference only, and should not be copied directly. Also, in your assignments, every little dot
Both require in-depth analysis. Well, now it’s your turn! come on! ! ! The recommended word count is around 1500-2000 words.
Business Strategy and Change Management
