CHANGE MANAGEMENT

Leadership and the Management of Strategic Change



Leadership and the Management of Strategic Change

Introduction

European organizations are facing difficulty in maintaining the desired standards to meet the challenges of the world economy. It is very clearly stated by the Governor of Bank of England that Europe is facing decline in the organizations for the last seventy five years and now it is time to consider the change in future business strategies and leadership style. This diverts attention towards the need of strategic change and proper management of the change in strategies. Strategic Change is generally the change in the various important strategies of the organization which plays vital role in the progress of an organization. These strategies are the basic concerns for the organizations. These strategies help to define the mission, vision, goal and objectives of an organization. It is easy to define the strategic change but it is not easy to manage the change in these strategies. This is the general convention for the business strategies all over the world to maintain their organizations according to the changes in the business environment of the world. The business environment around the world is becoming more and more complex and challenging. This requires adjustments according to the requirements of the changed environment and challenges. In these circumstances, traditional methods of business strategies cannot be applicable. The advancements of technology, changes in the business policies and various other factors require certain methods and tactics for the business operations which demands for the change. Traditional methods are failed to comply with these demands and therefore, the organizations failed to compete in the changed environment and this creates a problem for its future existence. Traditional approaches also prevent these organizations to deal with the advancements and innovations as well as it follows the stereotypical system of leadership style in which it is not possible to apply new adjustments. This helps to understand the concept of change for the organizations in Europe. To meet the changes in the World of business it is necessary to bring change and advancements in the organizational strategies, and to manage these strategic changes it is required to adjust the leadership styles.

Organizational Change

Change is generally defined as the transformation from state to another. In organizations, change has become one of the most important considerations for the management. Organizational change is basically the change in the structure, function, policies, management, environment and culture of the organization. It is the requirement for the organizations to exist in the changes conditions that these must keep transforming according to the demands of the market. All over the world it is the most generally accepted concept in most successful business organizations it is considered as their one of the main objectives to keep their organizations adjusted according to the needs of market and business world. As compare to the change strategies of the world it is observed that this trend is not visible in the European business ...