Description
Think of an organization you have worked for or one with which you are very familiar. Diagnose the need for change and present a plan to transform the organization, utilizing Kotter’s 8-Step Approach.
Explanation & Answer
Attached.
Running head: MANAGING CHANGE BASED ON KOTTER’S APPROACH
Managing Change Based on Kotter’s Approach
Name
Institution
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MANAGING CHANGE BASED ON KOTTER’S APPROACH
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Introduction
Business firms always seek to integrate better organizational policies, which will positively
reflect on organizational environment and performance. Therefore, change within a business
environment is something that should be constant on a frequent basis to create a better overall
environment where key decisions within the organization can be significantly made. Being able to
remain relevant and ensure continued good performance or counter poor performance is an
important key factor that most business organization focused on. To do this, business organizations
are thus forced to implement change in their respective. Changes are always good especially when
it is all about improving performance and efficiency. Developing a change implementation plan is
an effective approach that many business organizations tend to use. Change implementation plan
is tasked with ensuring that all the activities that are to be carried out are well outlined and followed
as indicated in the plan.
Company overview
Wal-Mart Stores Inc. was founded in 1962 and is operating in retail stores in over 27
countries globally using its three segments; Walmart Sam’s Club, Walmart International, and the
US. The company’s business model encompasses retail stores, warehouse clubs, restaurants, ecommerce, and superstores. The company is regarded as one of the leading organization in the
retail industry. It is ranked in position 20 as the world’s most valuable brand. The company has
around 2.2 million employees globally. The company previously did not have an effective and
healthy employee environment where they would form unions and associate as much as they wish.
Thus, they have developed an employee engagement policy, which is aimed to improve employee
relationships within the firm (Smith & Popkin, 2014).
MANAGING CHANGE BASED ON KOTTER’S APPROACH
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Wal-Mart chain store has been a retailer for many years and therefore knows extremely
well the players in the market including factors that are likely to influence the operations of the
chain and know how to readjust its operations in cases where the sales are low. The retailer has
access to the huge geographical region and the introduction technology in its operations has greatly
diversified its operations thus increasing its coverage in the process. Even though the chain store
has been able to overcome challenges in the past, they are still experiencing numerous challenges
to their operations. The major challenges the retail chain store is facing include competition and
keeping up with changing market trends in the industry.
Diagnosis
Wal-Mart chain stores have had reduced profit margins in recent past owing to some factors
within the industry. The organization has been in existence for a very long time, and thus they have
relied on same strategies for quite a long time which makes them susceptible to the changing
advancement in management as a well as employee engagement patterns. The company has been
significantly experiencing a high employee turnover where they have been significantly losing
their key employee to their rival companies who are offering Walmart a hard time in consolidating
the market. Thus, it important to put in place key considerations in highlighting importa...
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