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8 - Managing
Change: The word "change" means to make
new or different. In a way it means to
_____put aside the
original and put in its place a substitution.
In business the only guarantee is that
there will be change, and how the old is put
away and the new
embraced can define the level of success that
will be obtained. The most obvious downside to
change is
fear of the unknown. Management and workers
alike operate in a comfort zone, and when the
boundaries
and goals change, all must overcome that fear to
survive.
Major
ways in which American business changes
include...
- Business Cycles: The recurring and
fluctuating levels of economic activity that an
economy
experiences over a long period of time. The five
stages of the business cycle are growth
(expansion),
peak, recession (contraction), trough and
recovery. (Investopedia)
Diversity: The condition or having or
being composed of different elements; the
inclusion of different
types of people (as people of different races or
cultures) in a group or organization.
(Merriam-Webster)
Globalization: The development of an
increasingly integrated global economy marked
especially by
free trade, free flow of capital, and the
tapping of cheaper foreign labor markets.
(Merriam-Webster)
Management Style: Style of leadership
within an organization or group.
Product Life Cycle: The period of time
over which an item is developed, brought to
market and
eventually removed from the market. First, the
idea for a product undergoes research and
development.
If the idea is determined to be feasible and
potentially profitable, the product will be
produced, marketed
and rolled out. Assuming the product becomes
successful; its production will grow until the
product
becomes widely available. Eventually, demand for
the product will decline and it will become
obsolete.
(Investopedia)
Technology: The practical application
of knowledge especially in a particular area
(esp. in computers
and software). In business, proper knowledge of
technology can help a business to prosper.
(Merriam-
Webster)
The Change Management
Process
Tasks and Performance
Standards
Analysis: Identify what makes
change necessary.
Performance Standard:Obtain
input from key personnel quarterly.
Development: Involve key personnel in
the evolution of a vision, mission, strategies
and goals that will
profit from the change.
Performance Standard:Obtain
input from key personnel quarterly.
Design: Identify and create processes
that will attain the new goals.
Performance Standard:Obtain
input from key personnel as necessary.
Preparation: Obtain materials,
equipment and supplies along with providing
personnel with the
necessary training.
Performance Standard: Obtain
additional equipment and supplies as
needed.
Field Test: Carefully launch the
change. If the consequences of failure
are severe, maintain a
parallel operation of the old process until all
problems have been identified and solved.
Performance Standard: Obtain
and evaluate progress after launch.
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