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4349 The World without Bankruptcy Laws

Bankruptcy is one of the natural states which a company may find itself in. Entrepreneurship is primarily about taking risks. When companies take risks, some of them succeed, whereas others fail. Hence failure is a natural part of the business. However, many critics of bankruptcy laws believe that there isn’t a need for an elaborate […]

4348 The Wirecard and Infosys Scandals are a Lesson on How NOT to Treat Whistleblowers

What is the Wirecard Scandal all about and Why it is a Wakeup Call for Whistleblowers Anyone who has been following financial and business news over the last couple of years would have heard about Wirecard, the embattled German payments firm that had to file for bankruptcy after serious and humungous frauds were uncovered leading […]

4347 Why the Digital Age Demands Decision Makers to be Like Elite Marines and Zen Monks

How Modern Decision Makers Have to Confront Present Shock and Information Overload We live in times when Information Overload is getting the better of cognitive abilities to absorb and process the needed data and information to make informed decisions. In addition, the Digital Age has also engendered the Present Shock of Virality and Instant Gratification […]

4346 Why Indian Firms Must Strive for Strategic Autonomy in Their Geoeconomic Strategies

Geopolitics, Economics, and Geoeconomics In the evolving global trading and economic system, firms and corporates are impacted as much by the economic policies of nations as they are by the geopolitical and foreign policies. In other words, any global firm wishing to do business in the international sphere has to be cognizant of both the […]

4345 Why Government Should Not Invest Public Money in Sports Stadiums Used by Professional Franchises

In the previous article, we have already come across some of the reasons why the government should not encourage funding of stadiums that are to be used by private franchises. We have already seen that the entire mechanism of government funding ends up being a regressive tax on the citizens of a particular city who […]

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Every Christmas, Apple plays to the gallery where all Americans and the rest of the Apple fans across the world wait eagerly for the new promised product of the future and expectantly Apple has unveiled the new, slimmer and improved I Phone 5G. It is no secret that Apple is a cult world over.

With leadership in the global market Apple continues to innovate and be ahead of its competitors continues to blaze the trail and clock profits of over 30% without its founder at the helm. Stop and think for a moment — what makes these Organizations so successful over a long period. You will soon understand that besides a clear vision and technological strengths, the Organization is built differently.

The modern day Organizations are not focused on the Organizational structure, but are built to keep changing and evolving all the time in tune with the customer requirement, evolving technology and the external environment that includes all factors affecting the Organization, technology, its people, product etc. The Organizations that are focusing on its customer and innovation depend upon business processes to manage the Organization leaving the management free to work on their ‘Breakthrough technologies’.

In the coming years, there will be no place for Organizations that continue to exist based on the old Organizational philosophies and systems. Be it a Multinational or a small scale industry, the management has got to be process oriented not only in its production and quality areas but in overall business that includes all functions, departments and resources.

Though the yester years Organizations do recognize the new wave and wish to change, it is not going to be that easy to change overnight. First and foremost it is important to recognize that change is something that people naturally and unconsciously resist. In the case of an Organization having to change entirely and embrace a new form of existence does call for a very strong and planned approach to initiate the change, to ensure the change happens and to ensure that the new changed outlook is sustained all through the Organization until it becomes a natural habit.

Change Management Process View

First and foremost, the need for change has to be recognized by the leadership. If the Organization has two distinct entities of leadership as separate from Ownership, then both have got to realize the need and consider it important for the future and survival of the entire Organization and their business. Therefore the stake holders for the change management process would be the Management.

Once there is acceptance of the fact that Change is necessary, there has got to be a definite idea and vision of how the new changed Organization needs to be. This new vision should be drawn up by the leadership/management and communicated to each and every single individual within the Organization. It is important to ensure that every individual contributing to the Organization becomes a part of the change management process, failing which the entire project of change will not succeed.

Once the vision and the plan for change has been established, it is important to assess the current situation and environment to identify the possible barriers, risks and obstacles to the change process and draw up a plan of action to mitigate the risks, to remove the obstacles and barriers that are likely to impede the process of change.

Change management in an Organization is not easy. It calls for engaging the professionals who can assist the Organization draw up the vision, to set the goals, plan the process, manage the transition, provide the training and retraining and help the Organization transition to working as the new entity.

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