Change Management in Action

Change Management in Action

Importance of Adapting to Changing Market Trends

Assessing Readiness for Change

Building Acceptance for Change

Leading Change at Wynn

Executing Business Changes

Agenda

• Overview of market trends impacting the hospitality industry 

• Providing examples of successful change initiatives in response to market trends (Netflix, Apple, Starbucks) 

• Identifying the rationale behind the need for change at Wynn

• Exploring the challenges and opportunities associated faced by Wynn 

Importance of Adapting to Changing Market Trends

• Identifying key stakeholders and change agents

   

• Conducting a readiness assessment 

• Addressing resistance to change  

Accessing Readiness for Change

Poll

(1) I have a constant need to learn. 

• Rarely

• Occasionally

• Sometimes

• Frequently

• Always

Poll

(2) I like meeting new people. 

• Rarely

• Occasionally

• Sometimes

• Frequently

• Always

Poll

(3) I tend to be guided by my intuition. 

• Rarely

• Occasionally

• Sometimes

• Frequently

• Always

Poll

(4) I adapt easily to unforeseen situations. 

• Rarely

• Occasionally

• Sometimes

• Frequently

• Always

Poll

(5) I like taking risks. 

• Rarely

• Occasionally

• Sometimes

• Frequently

• Always

Poll

(6) I am open to new experiences. 

• Rarely

• Occasionally

• Sometimes

• Frequently

• Always

Poll

(7) I am optimistic by nature. 

• Rarely

• Occasionally

• Sometimes

• Frequently

• Always

Poll

(8) I understand that things do not always go as expected. 

• Rarely

• Occasionally

• Sometimes

• Frequently

• Always

Poll

(9) I manage to pull my share of the load. 

• Rarely

• Occasionally

• Sometimes

• Frequently

• Always

Poll

(10) I like the unexpected. 

• Rarely

• Occasionally

• Sometimes

• Frequently

• Always

Poll

(11) I have the impression that new things are for the best. 

• Rarely

• Occasionally

• Sometimes

• Frequently

• Always

Poll

(12) I easily adapt to a new environment. 

• Rarely

• Occasionally

• Sometimes

• Frequently

• Always

Poll

(13) I allow myself to change my ideas. 

• Rarely

• Occasionally

• Sometimes

• Frequently

• Always

Poll

(14) I can forge ahead even if I am uncertain. 

• Rarely

• Occasionally

• Sometimes

• Frequently

• Always

Poll

(15) I am capable of carrying on while having faith in my destiny. 

• Rarely

• Occasionally

• Sometimes

• Frequently

• Always

Understanding the impact of changes on individuals: the Change Curve Stages (30 minutes)
 

• Stage 1. Denial - Information 

• Stage 2. Anger - Support 

• Stage 3. Exploration - Direction 

• Stage 4: Acceptance - Encouragement  

• Stage 5: Integration 

Building Acceptance for Change