Reinvigorating a big company is one of the hardest jobs an executive can ever take on. Often times, a boss thinks they possess all solutions to all problems. They therefore stop listening to their colleagues and this has resulted organizational decline (BBC, 2016). It can be a tough exercise leading organizational change. Not all business leaders are cut for such an exercise. It can be debated that the organizations that win in the long run are those that have mastered both planning and leading change. There are several things that can spur change including growth being predominantly in a market which is unfamiliar, pricing factors to remain competitive, change in regulations, changing customer expectations, shortfall in talent and constraints in the organization's capacity. The factors which spur change are numerous and the examples given are not a complete representation of the wide scope of demands that force organizations to change (Brown, 2013).Changes that might be necessary for a firm to survive include:
• Bringing it to date with industry trends and prevailing standards.
• Doing market and consumer research to evaluate what they really need and figure out the cards competitors are playing (Brown, 2013).
• Using old employees' experience as well as the insights new talent brings to the table.
• Off-shoring part of the company's operations.
Defining change is easy, implementation is the hardest part. An executive leading change must therefore understand that the real work begins after formulation of plans.
A discussion of the foundational theories upon which you would draw to lead this organization
Lorsch (1986) stated that 70% of all change efforts fail to achieve the desired outcomes. Specific strategies should be put in place to ensure that an organization is part of the 30% group that meets their objectives (Halm, 2014).
Some of the things that can be done to increase the chances of success include:
Step 1: Identifying a Best Practice Operating Model
Best practices in an industry are processes and practices that have been proven to deliver the desired results almost every time they are used. Such practices can be identified by doing benchmarking and looking into data collected by membership associations in the industry. It isn't necessary that a practice or process be adopted because it falls under this category. For a practice to...
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