Change Management
Introduction
XYZ, Inc. is a high-end retail chain that sells luxury watches, jewelry, and hand bags. The company plans to open its first international store in Shanghai, China, which will act as a stepping stone for its further planned expansion in Brazil, Russia, India & China (BRIC Countries). This project would lead to a short-term change in the organization.
XYZ, Inc.’s plan to expand its business in other BRIC Countries depends on the success of its first international store in Shanghai. The lessons learnt from the opening of first store, positive or negative, will be applied in the long term expansion of the company in BRIC countries, which entails long term changes in the organization. The long term changes for the second phase of international expansion (i.e. in BRIC countries) will be dynamic and continuous in nature. These changes would also take more time to be executed completely and will help in the long term profitability and global competitiveness of the company.
Implementing & Executing the Change
To survive the intense competition and maintain profitability a company needs to continuously grow, expand and innovate. A continuous stream of change model development, associative strategies & plans, and continuous internal & external assessment are all necessary for the dynamic change management in an organization.
Using Ackerman’s model of change the company can reduce lead time, the energy and resources devoted toward the opening of the other stores in other B.R.I.C. countries by applying lessons learned from opening the Shanghai store (Anderson & Anderson, 2004, p. 4, 5; Godin, 2006).
Small Change: Since opening this store will require registering with the foreign/host country, anticipating customer demand, cultivating demand in the Shanghai and offering the merchandise at the right place and price the customers in Shanghai want, this alone might prove challenging. However, managing employees in China, knowing the types of business
XYZ, Inc. is a high-end retail chain that sells luxury watches, jewelry, and hand bags. The company plans to open its first international store in Shanghai, China, which will act as a stepping stone for its further planned expansion in Brazil, Russia, India & China (BRIC Countries). This project would lead to a short-term change in the organization.
XYZ, Inc.’s plan to expand its business in other BRIC Countries depends on the success of its first international store in Shanghai. The lessons learnt from the opening of first store, positive or negative, will be applied in the long term expansion of the company in BRIC countries, which entails long term changes in the organization. The long term changes for the second phase of international expansion (i.e. in BRIC countries) will be dynamic and continuous in nature. These changes would also take more time to be executed completely and will help in the long term profitability and global competitiveness of the company.
Implementing & Executing the Change
To survive the intense competition and maintain profitability a company needs to continuously grow, expand and innovate. A continuous stream of change model development, associative strategies & plans, and continuous internal & external assessment are all necessary for the dynamic change management in an organization.
Using Ackerman’s model of change the company can reduce lead time, the energy and resources devoted toward the opening of the other stores in other B.R.I.C. countries by applying lessons learned from opening the Shanghai store (Anderson & Anderson, 2004, p. 4, 5; Godin, 2006).
Small Change: Since opening this store will require registering with the foreign/host country, anticipating customer demand, cultivating demand in the Shanghai and offering the merchandise at the right place and price the customers in Shanghai want, this alone might prove challenging. However, managing employees in China, knowing the types of business
References: Anderson, L.A. & Anderson, D. (2004). The Change leader’s roundup. Retrieved from http://www.workinfo.com/free/downloads/ChangeLeader.pdf Bloomberg L.P. (Producer). (2011). Bloomberg game changers: Steve jobs. [Web Video]. Retrieved from http://www.bloomberg.com/video/66625228/ Godin, S Harb, T. (2008). 7 Essential Elements of ERM and the role of Internal Audit. The Institute of Internal Auditors NSW Chapter Members Meeting, 17 June 2008. Horn, M. (Speaker). (2010). Disrupting class: How disruptive innovation will change the way the world learns. [Web Video]. Retrieved from http://mitworld.mit.edu/video/821 Red Tree Leadership & Development Weiss, J.W. (2012). Organizational change. San Diego, CA: Bridgepoint Education, Inc. ISBN: 978-1-935966-64-7