Managing change effectively and efficiently
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This document outlines an approach for managing change efficiently and effectively through assessment, planning, execution, and review. It discusses types of change like market changes, mergers and acquisitions, and restructuring. The approach focuses on balancing financial, people, technology, organizational, and operational aspects. Key steps include defining objectives and vision, identifying gaps, assessing viability, engaging stakeholders, appointing a champion, creating a roadmap, communicating consistently, using metrics to measure success, and reflecting on lessons learned.
Managing change effectively and efficiently
- 1. Managing Change Efficiently and Effectively
- 2. Types of ChangeMarket ChangeM & AExogenousRegulatory ChangeEndogenousRestructuringNew MarketsNew BusinessDisaster
- 3. Approach to ChangeBalanced methodologyFinancialPeopleTechnologyOrganizationalOperationalProcess
- 5. IntrospectiveWhat potential shape will this change take?What operational infrastructure is in place to take advantage of this change?How familiar are we with the impact of the change to our operations?How are we prepared to speak to our employees, investors & board of directors?What is our plan to meet the challenges of this change?Assessment
- 6. ObjectivesDefine themBucket into Executive objectives vs. Functional ObjectivesGather Internal resources and External subject matter expertsAssessment
- 7. VisionState the vision you want to see clearlyDo not settleAssessment
- 8. Identify gapsCreate a functional mapOrganize into themesAssessment
- 9. ViabilityEnsure the return on investment is equal or greater than the investment itself Think about viability in buckets: organizational, operational and financialAssessmentViability
- 10. Engagement Reach a consensus early and make sure everyone is on boardEnsure there is an understanding of the effort needed to accomplish objectivesPlanning
- 11. LeadershipA well-respected champion reinforces sustainability and credibility of your causeYour champion has to believe in the change and has to put your group’s interest firstPlanning
- 12. RoadmapStart with peopleDemonstrate value ahead of timeObstaclesRemove them earlyFully vet recommended options with your stakeholdersPlanning
- 13. CommunicationDirect communication across all levels is better than trickle down effectAcknowledge challengesUpper ManagementExecutionLeadsAccountabilityConsistent MessageManagersStaff
- 14. MeasurementMilestones along execution pathMetrics define success criteriaExecution
- 15. Reflect backWhat is left that was not accomplishedLessons learned in the processReviewReview
- 16. AssessmentPlanningExecutionReviewWrap-up Define Objectives and create a vision
- 17. Identify gaps
- 18. Gauge Viability
- 20. Endorse a champion
- 21. Create a roadmap and remove obstacles
- 22. Communicate to all
- 23. Use metrics
- 24. Take a look backQuestions / Discussion