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Benefits And Significance Of Change Management

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1. Understanding environment (society, government, customers)
It is important for organization to understand, assess and gauge the dynamics in its
external environment in order to envisage and establish an appropriate relationship with
various actors like government, customers and society. Therefore managers by knowing
the subject of change management can better be prepared to understand whatever is going
on in the environment.
2. Objectives, strategy formulation & implementation (to develop competitive advantage)
Second is consequent upon knowing the impact of change at extraneous level on its own
internal dynamics, and the foremost is objective setting and seeking competitive
advantage.
3. Employees (trained, high performing work practices, reliable organisation)
The employees are the recipient of change plan. One such perpetual concern of senior
managers is to make organization highly reliable, therefore employees ought to be trained
and high performing one in today’s hyper competitive world.
4. Technology Issues
Technology is considered the engine of growth in today’s world. Perhaps the greatest
challenge for contemporary organizations is the acquisition and integration of technology
in its strategy, structure and process. As such the concern of top managers is how to avoid
organization being obsolete and how to cope and absorb the impact of changing
information and communication technologies which have decisively influencing
production and consumption behaviour?
5. Globalization
The management of international economic and political forces what is today known as
internationalisation and globalisation is yet another important factor influencing decision
making of organization. No organization or nation can stay independent and indifferent to
whatever is happening at international (political) level. For instance supra–national
institutions are becoming more assertive over nation states not only in political terms but
also on social issues like child labour and gender issues. So government and states are
considered somewhat less sovereign in imposing their will over their subjects (individual
and organizations) against the ever increasing and complex interdependencies amongst
states.

Titany answered the question on October 19, 2021 at 13:35

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Benefits And Significance Of Change Management

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