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Problem Solution: Intersect Investment Services Corporation
Change is necessary for survival. Only those species able to adapt and evolve will avoid perishing in an environment constant change. Competition, globalization, regulations, and increased demands from employees and customers require businesses to change to keep pace or risk stagnation. The ability to direct a change effort requires leaders with the ability to recognize when change is necessary and identification of the factors that necessitate change. Factors that necessitate organizational change may include external or internal forces. There are four
key external forces for change: demographic characteristics, technological advancements,
market changes, and social and political pressures. Internal forces for change come from inside the organization and include low job satisfaction, low productivity, and conflict. Internal forces for change come from both human resource problems and managerial behavior/decisions (Kreitner & Kinicki, 2003, pp.674-7675).
Leaders must motivate and inspire others to share the vision and remove obstacles, such as resistance to change, to ensure successful change implementation. "Resistance to change is an emotional/behavioral response to real or imagined threats to an established work routine. Leaders must be able to learn to manage resistance because failed change efforts are costly and include decreased employee loyalty, lowered probability of achieving corporate goals, a waste of money and resources, and difficulty in fixing the failed change effort," (Kreitner & Kinicki, 2003, pp.685).
The ability to successfully implement change is supported by creating goals that are tied to business objec ...