Change Management Flashcards
What is Change?
Change is feared but however as the main concern should be how change affects the business and how stakeholders will respond
Factors that may cause change
External
Internal
Internal Influencers
1) Development of New Product - may require staff recomposition
2) Mergers and Take OVERS - the two entities will have changes in management e.g merger of RBC Trinidad and RBC Canada
3) Control system - when firm improves quality there may be changes
4) Customer Service - changes in customer taste/lifestyle may spur changes in firm
External Influencers
1) Technological - sparks changes in labour and cost reduction of wages
2) Economies - (inflation, exchange rates etc)will affect financial viability
3) Demographic - changes in demographic and consumption
4) Social
5) Lega;/Politcal
Resistance to Change
The extent to which change will be resisted is whether or not it is beneficial
Factors leading to resistance
1) Fear
2) Disrupted Habits
3) Loss of Control and Confidence - trust is built over time by employees confidence in management
4) Poor Training - employees need to be trained to deal with change
5) Lack of Focus - Employees need to know purpose of change or they may be relevant to support it
6) Loss of Power - when change results in loss of autonomy
7) Lack of Communication of change
Stratergies to Deal with resistance to Change
- Educate employees and communicate the change
- Allowing employees to particpate in change process
- Negotiate wit Resistance
- Play a supportive role
- Coerce employees to comply
Importance of Communication in Management process of change
- message should be clear]
- information should be communicates in a timely manner
- use numerous methods of communication
- communication must be thorough
- give opportunity for feedback
Why change might fail
- Faulty thinkibg leading to wrong ideas
- Inadequate process of change implementation
- Lack of resources
- Lack of acceptance and commitment
- Poor timing
