In order to remain competitive in a changing market, it is important for a firm to be able to respond and adapt. A firm must be able to implement strategic changes in order to survive. Strategic changes can be difficult because they involve completely reshaping the way an organization works. To increase the likelihood of success, managers should follow basic process for making a strategic change.
Instructions
1. Identify the change that you want to make in the organization. Normally, the top executives or the board of directors for a firm will determine what strategic change they would like to make within a firm. They may, however, seek the input of line managers and front-line workers who have a better sense of the real issues affecting the firm.
2. Establish a means of attaining the strategic change. For example, if a firm wants to increase its market size, it might do so by entering into a foreign market or by attempting to capture a larger share of its present market.
3. Set a timeline for implementing the strategic change. If there is no timeline, then it is impossible to measure the success of a strategic change.
4. Champion the change. Select influential people within the organization, and convince them of the importance of the change. These people can, in turn, convince the rest of your workforce to embrace the change.
5. Clarify new roles under the strategic change. A strategic change will usually require people to take on new responsibilities. Make these new responsibilities explicit so that people understand what they must do.
6. Measure the change. After you have implemented a strategic change, measure it to see if it has actually happened. For example, if your strategic change was to become more international, you would measure factors like the percentage of international sales.
Tags: strategic change, strategic change