Managing change are those strategies and plans, which maintain and support the change from the current state to a new outcome. Initial change is easier than maintaining transition. Main factors of change management are the buy in process and the training. Changes in business are constantly taking place and accelerating day by day (Leban, 2007, p11). Globalization has made information instant and changes are occurring at a rapid pace. Major decision making in the corporate sector have daily effects on change management
It is the primary activity of management to implement changes in organization, and its failure can be catastrophic. Some issues leading to failure are poor leadership, and excessive scope of expansion. Whereas, there are three major issues that contribute to a failure. Firstly majority of organizations do not see the changing environment. Secondly finalization of some strategies cannot be implemented and goes wrong, and thirdly strategies are wrongly applied.
Discussion
Approaches to Change
Many researchers have concluded that in order to understand the content and process of organizational change. For instance, analyses of costs and benefits of a firm's potential market positions are included in the game theory of modern industrial organization economics. In addition to that, theories of management lay out communication system and possible political frameworks for the execution of change in organizations but ignore the fact that the different kind of changes should be adopted with different approaches.
Figure 1: components necessary to bring a change in the organization
Organizational Readiness for Change
Every change has its own challenge and can take place slowly or abruptly. Many examples of dire effects to abrupt resistance are there, whether from Swiss watch makers who refused to see the new trends by the U.S based watch makers or Asian ...