Management Is The Application Of A Structured Process

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Change management is the application of a structured process and set of tools for leading the people side of change to achieve a desired outcome. Change management emphasizes the “people side” of change and targets leadership within all levels of an organization including executives, senior leaders, middle managers and line supervisors. When change management is done well, people feel engaged in the change process and work collectively towards a common objective, realizing benefits and delivering results.
Innovation is the development of a certain value that meets a new need of a customer.
Innovative organizations have the license to explore new ideas and commercialize these ideas quickly and effectively. One extraordinary example of the failure to innovate was one of the largest DVD rental companies, Blockbuster. With a huge high street presence and intense customer loyalty, Blockbuster really was a household name. The company commanded enormous resources at its peak and were primed to lead the market with an innovative digital offering. By failing to innovate with their digital, the business, it’s high rents and overheads started to lose ground to DVD postal services and early stage streaming services that were coming to market, for example LoveFilm. To compound their mistake, due to the market position Blockbuster had the opportunity to purchase the fledgling company Netflix, a relatively new business offering a postal service. Netflix would sell 49%
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