The Theory Of Economic Change

Change management is guiding teams, individuals or an organization through a series of changes to move from the current state to the desired state. During this transition, the goal is to empower the people involved to embrace the changes and the process (Bassey, Solomon, and Omono, 2014). Management of change significantly contributes to its success. Change can be influenced by both internal and external elements. It can appear in different ways including a change of management, policies, organizational structure, objectives, business climate, employees and operational location. Whatever the reason behind the change, the aim of change management is to ensure it does not have an adverse impact on the organization or its

Change Management is a modification in an organizations practice. It is instituted to profit the company and to improve the system. From the mid-2000s, change management has developed enduring landscapes for any organizations as if it’s related to business field or health care industry. In order to be in today’s competitive market; change management is very important part of any company (Aguirre & Alpern 2014). Technology and advancements is rapidly expanding and changing working organizations’ everyday atmosphere. Due to economic changes many businesses are being obliged to merged or downsized with other companies in order to increase their financial stability. Change management stepped in when employers or employees couldn’t keep up with

Change is a common thread that runs through all businesses regardless of size, industry and age. Our world is changing fast and, as such, organizations must change quickly too. Organizations that handle change well thrive, whilst those that do not may struggle to survive.

““The people who resist change will be confronted by the growing number of people who see that better ways are available; thanks to technology.” – Bill Gates (Quotes about Change from Successful Entrepreneurs, n.d.)”. Bluntly put by the richest man in the world, and I believe he is putting into scope how embracing and preparing for change offers better understanding of environments, market places, trends, an even the happiness of consumers. Technology offers one of many tools to help guide managers to develop and implement change management into current practices. New philosophies and work trends are evolving by many managers and organization, and also resistance to change is showing the extreme of the inevitable being embraced or not. The

Health care in America is at the center of controversy. It is a progressive and rapid changing entity. Since the 1970s, America has seen many different types of programs and funds created to help solve the issue of the cost of health care. Many of these programs are on the brink of bankruptcy and have not done far enough to make it more affordable and assessable. Actually America has the most expensive healthcare system in the world and not only is it the most expensive, but in many areas such as quality of care, America is no where near the top among developed countries (Davis, Stremikis, Squires, & Schoen, 2014).

The purpose of this paper is to discuss organizational change and the management of that change. I will talk about the different drivers of change, the factors a leader needs to weigh to implement change effectively, the various resistances a leader may encounter while trying to implement change, and how various leadership styles will effect the realization of change. I will also discuss the knowledge I have gained through the completion of this assignment and how I think it might affect the way I manage change in my workplace.

Change in an organization can be and usually is difficult for various reasons. Much of the difficulty is in the approach used to initiate change and the willingness to stay engaged and stamina to sustain change through to the end. Organizations can choose to lead by recognizing and implementing change, follow in the shadow of organizations leading the market, or get out of the way by standing still and eventually going under. With this said; if change was easily done and successful for every organization there would be no need for change management specialists and years

Leading and managing change require a solid theoretical foundation. This assignment will research the theoretical elements of change and change management. Addressed will be the following: Organic Evolution of Change, Formulating Strategic Development Approaches, Leadership and Management Skills and Gathering and Analyze Data. As societies continue to evolve and changing demand creates the need for new products and services, businesses often are forced to make changes to stay competitive. The businesses that continue to survive and even thrive are usually the ones that most readily adapt to change. A variety of factors can cause a business to reevaluate its methods of operation. According to literature from the past two

Organizational change is an important issue in all organizations. The process in which an organization optimizes its performance working toward its new state of function is pivotal. Resistance is easily found in direct or indirect challenges to authority, lack of action, and even open hostility. (Scheid,

Hence, in today’s global and dynamic environment marked with hyper-competitive and volatile markets it is widely recognised that an organisation’s ability to manage change quickly, productively and positively is a critical driver of organisational success (Cope, 2009; Gilley, Gilley, & McMillan, 2009; Gilley, Godek & Gilley, 2009; Turner-Parish, Cadwallader &Busch, 2008; Appelbaum, Claude, Nadia & George, 1997). However, despite the overall agreement that change is

Change in a business is inevitable and typically only the strongest thrive. With a fluctuating economy and constant technological advancements, organizations are expected to adapt in order to survive. When a business is posed with an issue or change, it must develop new business and strategy structures and implements those developments throughout the entire company. Communication, education and participation are all required for a change model to be successful. Though change and adaptation may be needed to better the company, with implementation of change comes resistance. Most companies face resistance on an organizational and individual level during a transition. However, it is how the company is able to overcome

1.1 Change management is described by Armstrong (1) as “the process of achieving the smooth implementation of change by planning and introducing it systematically taking into account the likelihood of it being resisted”. Change, the fundamental constant in any successful organisation, can be adaptive, reconstructive, revolutionary or evolutionary and can happen for a number of diverse reasons:

Changing situations throughout the world affect all organizations in business today. Therefore, most organizations acknowledge the need to experience change and transformation in order to survive. The key challenges companies face are due to the advancements in technology, the social environment caused by globalization, the pace of competition, and the demands regarding customer expectations. It is difficult to overcome the obstacles involved with change despite all the articles, books, and publications devoted to the topic. People are naturally resistant to fundamental changes and often intimidated by the process; the old traditional patterns and methods are no longer effective.

During the process, an organization is experiencing a change, how the organization finds, decides and forms its figures are the most important aspects for its future. The ability to change means a tacit process, prepositional concept that lies in the bottom line, because explicit skills are after all merely snapshots of what an organization currently has. Needless to say, this ability has relation to an organization's sustainability. The importance of change and change management in today's turbulent business environment has escalated.

Week 3, the lecture on Managing Change describes organizational changes that occur when a company makes a shift from its current state to some preferred future state. Managing organizational change is the process of planning and implementing change in organizations in such a way as to decrease employee resistance and cost to the organization while concurrently expanding the effectiveness of the change effort. Today's business environment requires companies to undergo changes almost constantly if they are to remain competitive. Students of organizational change identify areas of change in order to analyze them. A manager trying to implement a change, no matter how small, should expect to encounter some resistance from within the organization.