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How can you change a corporate mindset? How easy, or difficult, is it to get everybody reading from the same page?
According to the Executives Online Group, change initiatives cost UK companies £52 billion ($96 billion) in terms of management time each year. This clearly demonstrates the significant challenge change represents for companies all over the globe.
The study – available at http://www.changemanagementonline.co.uk – also reveals that 35 percent of all directors' time is devoted to change. With such widespread change occurring, handling all of the various issues that arise becomes a top priority for a manager – keeping pace with the rate of change is fast becoming a modern management necessity. If a change program is not handled appropriately – despite the best of intentions – an organization is unlikely to achieve any of its desired goals or objectives.
One of the keys to successful change management lies in understanding the potential effects of a change initiative. Will employees be scared, resistant, pessimistic or enthusiastic about your proposed changes? How can each possible reaction be anticipated and managed?
This Briefing aims to bring you the answers, quickly.
Articles:
Changing the corporate mindset: focus on the external, not the internal
Profit margins are easily destroyed when companies focus on internal issues versus the external conditions that affect customers. Revenue comes from the outside, from customers buying products or services, not from implementing new technology, re-engineering business processes or building great teams. Focusing on external forces increases the bottom line. In fact, by shifting to an external focus, companies can often increase profits from 5 to 10 percent.
Originally published in the Handbook of Business Strategy
Volume 5 Number 1, 2004
Surviving the great benefits planning earthquake: pension management in light of recent economic and corporate upheavals
For some years now, there has been a huge crisis developing for companies around how to effectively manage their pension plans. The gist of the crisis is this: pension plans have lost almost half their value while liabilities have skyrocketed due to the current low interest rate environment. Analysts have attempted to characterize this crisis as a 'Perfect Storm', likening it to the hazards described in the book and the movie of the same name. However, a more apt scenario might be that of an earthquake.
Originally published in the Handbook of Business Strategy
Volume 5 Number 1, 2004
Getting everybody on the same page
Think of a company or organization that you really respect. Chances are that the firm you choose is particularly effective in its communication with all of its constituents, employees, customers, suppliers and shareholders. And why is this? Because today's marketplace is characterized by constantly changing success requirements.
Originally published in the Handbook of Business Strategy
Volume 5 Number 1, 2004
Ten steps for surviving a disaster!
If a critical part of your business was knocked out of commission for a few days, would your business survive? What would you do during that time? Close the doors? Take orders by hand? Refer people to a competitor? How much business would you lose? How quickly could you recover?
Originally published in the Handbook of Business Strategy
Volume 5 Number 1, 2004
Efficient change strategies: Matching drivers and tracers in change projects
There is a huge diversity among change initiatives, which range from streamlining single processes to corporate-scale strategic restructuring. Accordingly, there is also similar diversity in the drivers and reasons for launching projects, as well as in results and tracers of projects.
Originally published in Business Process Management Journal
Volume 8 Number 1, 2002
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