Managing Change
Change is inevitable in all spheres of life. Recession, promotion, physical transfer, are some of the triggers that bring in changes. Even technological changes, finances, company mergers and business revamp will bring in changes in more than one way. Changes are synonymous with growth as well as setbacks. Hence it is prudent to keep informed on various scenarios that involve changes which can particularly have a direct consequence on career growth as well as personal well-being.
This article series outline various aspects of change one comes across during career span. Tips for handling change, coping and management scenarios are discussed in this series.
Being promoted from an employee to become a leader is probably one of the best experiences. From a simple follower, you become someone in the forefront as you lead a specific number of employees. Although you will never have to be productive yourself, you are answerable to someone higher if your employees are not as productive as expected. On the other end, you become the representative of the upper management and any concern of your employees about the management should run by you. You are practically a middle man now that you are a leader. Handling employees and the upper…
September 20, 2010
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Changes experienced in business setting is considered as a good sign in terms of business survival. Generally changes are made during expansion and also while minimizing employment and maximizing use of resources. The former is, of course, the desired change of everyone but there are times when a company has to make some cuts not only in their resource usage but also with their employees strength. As a leader, you need to be prepared to face these situations so that you can survive and even smoothly adapt to the different changes offered by the company. When everything has been said…
September 21, 2010
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There will always be a leader in business, politics, community or any other organization. Without a leader, the whole organization will crumble as no one will lead the group into doing something they have collectively decided. Sometimes a leader doesn’t even have to consult the group but would have to consider very important factors so that the leader could properly decide what’s best for everyone. For this reason, most see leadership as a lucrative position as a leader can wield power and influence. Everyone follows your decisions and see it fit to be implemented for the good of the organization….
September 23, 2010
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Globalization can be considered as a business move for a corporation if they want to significantly expand their business. In gist, globalization for a business means they expand their client base and support not just on their own country but also on other countries as well. Through globalization, companies will be able to significantly increase their earnings which mean more improvement for the company. For its employees, globalization means more opportunities. The more experienced ones increase their chances of promotion as more and more employees will be hired. Not only will they have a chance of being a leader but…
September 29, 2010
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Outsourcing has been one of the most popular business terms in the past few years – and for a good reason. Most companies that have multi-mullion dollar investments have considered outsourcing some of their basic services to other countries so that they can save millions of dollars a year on some of their functions. Outsourcing is basically an act of hiring someone else to do some of the tasks in your company. But instead of hiring someone locally, you outsource which means you have to get someone from other countries wherein labor is a lot cheaper there. By doing this,…
September 30, 2010
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Change in business is a double edged sword – it could become the turning point towards the company’s success or failure. There are companies that through small and large changes in their business goals and settings, were able to harness what the market needs and considerably improve in just a short amount of time. On the other hand, change can also become the reason for a company’s downfall. They may have made changes on their business settings which actually made clients think twice about their services and products. In the end change has become the dagger for the company’s future….
There are times wherein the company change is bad news to its employees. Instead of moving forward, the company actually takes a significant step backward which means the company is losing resources instead of gaining something. This is also a possibility since a company has to make some aggressive changes if they want to survive. These changes are often caused by company losses on sales, inability to perform as expected in the stock market or simply the loss of customer confidence on the brand. This will force the company to cut costs and make some rapid changes on the business…
When a company experience changes in its business setting, one of the first things they have to address is to get back on track and continue the business as soon as possible. Time lost during the transition into something better means potential losses with a significant number of clients. The sooner the company gets back on track, the faster the company could post the earnings once again. It can be even more than previous earnings since the company’s change could provide more and better service to its clients. As a result, the company prospers because of modification. All it requires is for the company…
A business world is always a technological world. Two decades ago, your business would strive even though the only electronic gadgets in your business were the cashier and the freezer. Today, businesses need to be at par with technology. Through technology, data transfer is faster and customers are not only based on where you are located but also from any corner of the world. The power of the internet can transform your small business into a virtual store open to any person in the world. Communication is also a lot easier and more affordable because of online connectivity. There are settings that…
Any business movement will require certain resources to be spent. Although a company could use manpower as a resource for change, change will ultimately place a dent on the company’s finances. For that reason, business change also comes with a monetary sacrifice. A business leader could even base the feasibility of change on the actual cost on changing. Any type of change – whether for expansion or a change in business plan will cost the company considerable money. For that reason, every stage of the change process has to be carefully done to avoid unnecessary spending. Cost and Return of…
Businesses are always looking out for improvement all the time. They are always considering what’s best for the company and do it without hesitation if they see significant improvement in their operation. If they would be required to transfer to another city or area just to ensure success in business operation, the business will highly consider it. Physical change can also be considered by a business if they wanted to ensure security of their operation. Unfortunately, there are certain areas in most cities that are not just feasible for a business environment because of the high level of violence that…
Business expansion is always a company prerogative. Businesses are meant to be improved and one of the ways of improvement is through expansion. Expansion could be in a form of physical expansion wherein they open a new branch or expand the office for more employees to cater to more customers. Expansion could even be product or service based wherein they aggressively expand not exactly through a new branch but to a new product or service. These expansions could be done for the purpose of attracting more customers. As companies attract more customers, they post higher profits which will also help…
A small business could easily become a highly profitable source of income. But along the way of success are the risks for business owners and managers. Any small factor that could affect the small business could have a considerable effect as problems in a small business could easily snowball into something far more difficult to address. For that reason, small businesses are always careful about everything. They have to look out for their cash flow, employees, technology and even the small town and city laws could easily affect them if they are not careful. But the opportunity of expansion is…
Merger and Acquisition are two corporate or business changes that could greatly affect the employees. During this change, departments could be closed which means there will be job losses. When merger happens, some employees may be terminated since they are no longer needed from the company. Merger means two companies become a single entity and this will entail merging some of their functions. Instead of spending money on two departments with the same function, a department could also be merged to reduce costs. Usually, the best employees who have performed in their department are kept so that the best team…
Job loss is a very devastating for the terminated employee. Without a job, the source of income is cut which could result to loss of support for the preferred lifestyle or even simple support to basic necessities. This could even demoralize the terminated employee because it could give the terminated employee a signal that he or she is incompetent and could not provide enough productivity to be paid. Getting back on track or looking for another job is also difficult since termination from the previous company would look bad in someone’s resume. But job loss is equally devastating for the…
Merger and Acquisition are two corporate or business changes that could greatly impact the employees. During this change, departments will be closed which means, there will be job losses. When merger happens, some employees will be displaced since they are no longer needed from the company. Merger basically means two different companies become a single entity and this will entail merging some of their functions. Instead of spending money on two departments with the same function, a department could also be merged to reduce costs. Usually, the best employees who have performed in their department are kept so that the…
