within Business Management
FEATURED PAPER
By Dr. Mark Reeson
United Kingdom
Overview
Change is a constant in business, and how a business manages change can have a big impact on its success. Proper transition planning and management can help a business navigate changes smoothly and minimize disruption.
There are several reasons why change management is important in business:
- To adapt to new circumstances businesses must be able to adapt to changes in the market, technology, and other external factors in order to stay competitive.
- To improve efficiency changes in business processes, systems, or structures can help a company operate more efficiently and effectively.
- To drive innovation change can be a catalyst for innovation and can help a business stay ahead of the competition.
- To retain employees who may resist change, especially if it affects their job responsibilities or workflow.
- Proper change management can help employees understand the reasons for the change and how it will benefit them, which can help reduce resistance and increase acceptance.
Adapting to new circumstances is an important aspect of change management in business. This can include changes in the market, such as shifts in customer preferences or changes in the competitive landscape.
It can also include changes in technology, regulations, or the economy. For example, consider a business that sells physical products in a brick-and-mortar store. If there is a shift towards online shopping, the business may need to adapt by adding an online store or offering curb-side pickup. This would be a significant change that would require careful planning and management in order to be successful.
Summary
Effective change management is crucial for businesses:
- to adapt to new circumstances,
- To improve efficiency,
- To drive innovation, and
- To retain employees adapting to new circumstances.
Similarly, if there are changes in regulations, such as new environmental laws or changes to labour laws, a business may need to adapt by updating its practices or processes. This could involve investing in new equipment or training employees on new policies.
In order to adapt to new circumstances, it is important for businesses to stay informed about changes that may affect them and to have a plan in place for how to respond. This might involve regularly monitoring industry trends, keeping in touch with industry associations or regulatory bodies, and being open to new ideas and approaches.
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How to cite this paper: Reeson, M. (2023). The Importance of Change Transition within Business Management; PM World Journal, Vol. XII, Issue VII, July. Available online at https://pmworldlibrary.net/wp-content/uploads/2023/07/pmwj131-Jul2023-Reeson-importance-of-change-transition.pdf
About the Author
Dr Mark Reeson
United Kingdom
Dr Mark Reeson, MBA ChPP RPP FAPM is a project management specialist with over thirty-five years’ experience. A Fellow of the Association for Project Management, he has been involved in many project and programme consultative roles. Most recently Mark has become the Strategy Programme Manager for United Response, a charity within the UK that supports children and young adults with learning difficulties and autism, to develop their long-term plan to raise the awareness of the treatment and care of the people they support.
Still working as both an APM ChPP and IPMA Level A/B assessor, Mark is committed to the ongoing develop of the future generations of project managers.
Mark started his career in the Royal Air Force, serving twenty-four years, before continuing his professional development by training, consulting, and delivering projects in multiple fields of industry including nuclear, pharmaceuticals, finance and the international sporting events.
As a regular public speaker Mark now shares his experience, knowledge and commitment with those associations wanting to progress project management in a more sustainable and successful manner. Mark’s next aim is to develop this further and to spread project management knowledge and competency into areas not typically recognised for the discipline to deliver more projects successfully, globally.
Mark can be contacted at mark.reeson@btinternet.com
To view other works by Mark Reeson, visit his author showcase in the PM World Library at https://pmworldlibrary.net/authors/mark-reeson/
