Change Management

Change management involves managing shifts in an organization, whether strategic, structural, or cultural. It addresses both internal and external factors necessitating change, such as leadership changes or market shifts. The process includes creating models to visualize change, identifying necessary activities, and organizing them into a management plan. Change management is a core function of managers, involving planning, organizing, leading, and controlling.

What does change management primarily involve?

• Managing external partnerships

• Managing employee personal growth

• Managing shifts in organizational norms and processes

• Managing financial investments

Which of the following is an internal reason for organizational change?

• Technological advancements

• Societal economic changes

• Change in leadership

• Market fluctuations

External reasons for change in an organization can include:

• Change in company values

• Shift in market trends

• Employee turnover

• Change in internal policies

What is a key component of the change management process?

• Reducing company size

• Increasing product prices

• Hiring new employees

• Creating models for change

Which of the following is part of the planning, organizing, leading, and controlling model in change management?

• Financial auditing

• Employee training

• Orchestrating activities

• Customer feedback