Business & Finance homework help
BY DAY 5
Respond to two or more of your colleagues’ posts in one or more of the following ways:
- Relate your own experiences of and feelings about change to those of your colleague.
- Share your perspective about how you might have felt in the situation your colleague described.
- Ask a clarifying question about the change process your colleague identified and/or the impacts on individuals or the organization as a whole.
- Offer an alternate perspective on your colleague’s analysis by using a specific example from your own experience.
- Add sources
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Return to this Discussion in a few days to read the responses to your initial posting. Note what you have learned or any insights you have gained as a result of the comments your colleagues made. Business & Finance homework help
Collapse SubdiscussionLinda Morris
Linda Morris
SundayDec 10 at 11:40am
Thoughts on Change
Change implies making an essential difference, often amounting to losing original identity or substituting one thing for another. It means to modify or alter to make or become different. Change is a constant in both personal and professional life. While it can be unsettling and challenging to adapt, I generally recognize it as an opportunity for growth and improvement. I understand that change is often necessary to adapt to new circumstances or enhance efficiency. My typical reaction involves embracing change with an open mind, understanding its reasons, and actively participating to ensure a smooth transition. Business & Finance homework help
An Example of Change
In my previous professional role at a prior corporation, a significant organizational change occurred when the company implemented a new project management system. The change aimed to streamline project workflows, enhance collaboration, and improve project outcomes. Understanding the need for change is the first step in creating new behaviors within your organization, behaviors that will represent business values in the future state (Wikoff, n.d.).
The company’s implementation of the change involved communication through multiple channels, including company-wide emails, town hall meetings, and departmental briefings. Business leaders must prepare the messages defining the organization’s written principles and values because when they do, leaders will begin to set the stage for behavioral and performance expectations (Wikoff, n.d.). The leadership team emphasized the new system’s benefits and addressed employee concerns. Communicating the change ensured that the employees were informed, engaged, and supportive of the change.
The project management team involved stakeholders from various departments in decision-making. Studies indicate that when communicating the business need for change, the most effective communicator in your organization is the CEO or, at a single location, the senior manager (Wikoff, n.d.). Regular feedback sessions and workshops were conducted to gather insights and adjust the implementation plan accordingly. Doing this ensured the company’s success in implementing the change was a smooth transition for all stakeholders. Businesses realize that listening to stakeholders and making them part of the process will ensure organizational success (Edds, 2016, p. 2). It helped generate a synergy that promoted a better understanding of what the leaders and team members were working to achieve. It also facilitated cooperation and helped develop a sense of belonging that guaranteed everyone was on the same page and up to the task. Business & Finance homework help
Impact of Change
The organizational change was refreshing and favorable for the organization’s present and future success. As someone who embraced the change, I actively participated in training sessions and adapted quickly to the new project management tools. It enhanced my efficiency and collaboration with team members. Leadership communication is a discipline and a practice, so the more time, effort, and heart you put in, the more effective you become (Pottruck, 2014).
For my colleagues, the change resulted in a mixed impact. While some colleagues shared my positive perspective, others faced challenges adapting to the new system. The learning curve and initial disruptions affected productivity for a brief period. Most businesses lack alignment around the knowledge and capabilities needed to address risk (Piper, 2019, p. 2). The change resulted in reduced morale, increased absenteeism, and job satisfaction. The change also caused the company to lose a few great employees.
For the company, the change resulted in long-term improvement. Despite initial challenges, the organization experienced long-term benefits. Project timelines were predictable, collaboration improved, and project outcomes were successful. To improve, leaders must encourage people to engage in role-playing and simulations and ensure they have processes that keep them aware of biases (Likierman, 2020, p. 9). After the company communicated its vision and reasoning for the change, provided resources on the change, described the steps of the change process, and allowed employees to give feedback, it boosted employee morale, engagement, productivity, and satisfaction. The company culture adapted to the change, fostering a more dynamic and innovative work environment. While the change initially presented some disruptions, the long-term benefits were evident in improved efficiency and project outcomes for both individuals and the organization as a whole. Business & Finance homework help
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Nioka Terez Roberts-Pratt
MondayDec 11 at 1:09am
Do you agree with the idea that change is inevitable? If so, what can be done about it?
Yes, I agree that change is inevitable. Change is a fundamental aspect of life, both personally and professionally. Embracing this inevitability is crucial for adaptation and growth. To navigate and respond effectively to change, individuals and organizations can; cultivate adaptability, communicate effectively, develop strategic planning that anticipates potential changes and outline adaptive strategies, and view change as an opportunity to learn and improve. Business & Finance homework help
To effectively address and manage change, Wikoff, D. (n.d.) proposed several key components that must be present, including transparency in communication, engagement and collaboration, two-way communication, consistency in messaging, and adaptation. Putting these communication strategies into practice aligns with the understanding that change is inevitable. By fostering clear, open, and collaborative communication practices, organizations can navigate change more effectively, mitigate resistance, and build a resilient and adaptable culture.
It is imperative to communicate the reasons for change, anticipated outcomes, and potential challenges. To drive behavioral change, you must communicate the need for change as it relates first to the overall business, and second to you and me (wikoff, D, n.d.). It is crucial to seek input from others affected by the change such as employees and stakeholders. Ensure that the messaging regarding the change is consistent across various communication channels. Business & Finance homework help
Do you feel that change is scary, exciting, or a mix of both?
I believe there is usually a mixture of excitement and trepidation when there’s change. The emotional response to change can vary depending on the nature of the change, individual perspectives, and the context in which it occurs.
On one hand, change can be exciting as it brings the prospect of new opportunities, growth, and innovation. It challenges individuals and organizations to adapt, learn, and evolve, fostering personal and professional development. The excitement lies in the potential for positive transformations, improved outcomes, and the chance to explore uncharted territories. Business & Finance homework help
On the other hand, because it brings with it an element of uncertainty, change can be perceived as frightening. The fear of the unknown, potential disruptions, and the need to change familiar habits or routines, can create anxiety. Resistance to change may stem from concerns about one’s competence to adapt or fear of potential negative consequences.
In many situations, people experience a mixture of both emotions at the same time. The thrill of embarking on something new may coexist with the anxiety of navigating uncharted waters. A more balanced and constructive approach to navigating transitions can be fostered by individuals and organizations addressing both the positive and challenging aspects of change by recognizing and acknowledging this duality.
How do you typically react to change, and is there anything you would like to do differently about your reactions to change? Business & Finance homework help
Depending on the impact of the change, and the reasons for the change, my reaction may vary ranging from excitement and eagerness to anxiety and resistance. Although change may present some discomfort, especially if the change is perceived as disruptive; for the most part, I embrace changes as opportunities for growth and as a learning experience. Generally, I recognize that change is a constant in life and work, and being able to adapt positively contributes to my personal and professional growth.
An experience in my professional career when an organizational change occurred, the impact of that change, not just on yourself, but on others within the organization and on the organization itself.
I experienced a situation where the Board of Directors at my former place of employment had appointed a former employee who had resigned a few years back after being accused of attempting to defraud the company. Imagine that feeling! To say the least, this change impacted the employee’s morale and trust. Trust is a crucial element in any workplace, and the reappointment of an individual with a history of fraudulent behavior leads to skepticism and apprehension within the company. Employees become more cautious and less open in their interactions, potentially hindering creativity and production. Employees were reluctant to express concerns or ideas due to the perceived risk associated with their leader’s background. This appointment resulted in several valuable employees resigning from the organization and others left feeling uneasy about working under such leadership. Business & Finance homework help
The impact on the organization, included the reputation and image, legal and compliance risks, and organizational culture. The reputation was significantly impacted. Clients, partners, and stakeholders questioned the integrity of the organization’s leadership decisions, potentially leading to a tarnished image in the industry. Moreover, appointing an individual with a history of fraudulent behavior exposed the company to legal and compliance risks. The knowledge and skills required to manage risk are not well-aligned in the majority of firms (Piper, 2019). The appointment influences the organization’s culture. Employees perceive that ethical considerations are not prioritized, which erode the ethical fabric of the workplace, negatively impacting the overall culture.
Needless to say, the appointment of a Manager with a controversial history could have wide-ranging effects on employee morale, team dynamics, organizational reputation, and compliance risks. Effective communication, transparency, and strategic actions to address concerns will be crucial for mitigating potential negative impacts and rebuilding trust within the organization. Business & Finance homework help
