Change is never easy. Why do employees and organizations resist change? How can an organization reduce

the resistance to change?

What will be an ideal response?

Individuals resist change because the change may threaten their economic security, they fear the unknown, the change threatens their social relationships, they are comfortable in the current way of doing things, and they fail to recognize the need for change. Organizations resist change due to structural inertia, work group inertia, threats to the existing balance of power, and experience with previously unsuccessful change efforts.
Resistance to change may be overcome by shaping political dynamics, by educating the workforce, and by selling the change. All these require good communication skills. In addition, the organization should involve the employees in the change effort, reward constructive behaviors, stress the urgency of change, create relentless discomfort with the status quo, and create a learning organization.

Business

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Which of the following best defines risk-return trade-off?

A) overseeing the collection of money owed B) the job of acquiring and managing funds in order to accomplish the firm's objectives C) the balancing of the firm's investment exposure with the expected payoffs from its investments D) a prediction about how money will come in and go out of a firm over the next 12 months E) a detailed financial plan showing estimated revenues and expenses for a defined time period

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