Change Management in Retail Industry: Impact of COVID-19

CHANGE MANAGEMENT
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TABLE OF CONTENT
INTRODUCTION...........................................................................................................................3
MAIN BODY..................................................................................................................................3
1. Change event...........................................................................................................................3
2. Steps of intervention strategy model.......................................................................................6
3. Benefits of hindsight..............................................................................................................10
CONCLUSION..............................................................................................................................12
REFERENCES..............................................................................................................................13
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INTRODUCTION
Change management is the organizational step through which the company tend to make
appropriate changes in its working process, in such a way that it is able to achieve desired target
(Sun and et.al., 2018). COVID-19 is the trigger event, for implementing the appropriate change
within the retail industry. Evaluation on the impact of change event within the retail industry is
being done in this report, in context to the hard and soft impact. Evaluation of the event through
the ISM guide in various context is also being identified within this analysis. Study on the
framed critique around the ISM for the event is also being analysed within this report.
MAIN BODY
1. Change event
Due to the increasing spread to COVID-19 governments all across the globe have to
introduce lock-down. Through this it can make sure that it is able to secure its citizens from
being affected from the virus, due to which travelling and other activities done by the customers
was being affected. With that organizations also have to stop their working process because of
which sales through the traditional means was limited. However, due to efficient of technological
advancements to the customers organizations operating within the retail industry are being able
to maintain their sales through the means of internet. This is being achieved in such a way that
customers tend to order the desired products through organization's digital customer touchpoint.
Then on that bases tangible products can be provided to the customer through home delivery or
quick pickup. Following are the soft and hard aspects of COVID-19, upon the increasing use of
digital platform rather than traditional means.
Improvisation of working from the traditional means to the digital means, tend to provide
high level of benefits to the retail industry. This can be seen in the figure in which the total
retail sales volume of UK fell by 1.9%, than compared to 2019. This happens due to the fact
that organizations are able to increase their brand awareness in different geographic areas, in
such a way that it is able to achieve high sales in minimum expenditures. This is being achieved,
due to the fact that company is utilizing the pre-installed platform of the social media sites. Due
to which by promoting itself on the platform it can make sure that it is able to achieve high
number of views, compared to traditional views.
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Figure 1Increased online sales
Sales: Sparks, 2020
In order to provide retail services to the customers through the means of internet
organizations have to make sure that it is able to integrate the technological advancements at the
working area. Through this it can make sure that it is able to achieve high sales, but also at the
same time organizations operating within the retail sector have to make high capital investments.
Through this it can ensure that it is able to provide its services to the customers. Also at the same
time this increases the working complexities, due to which strategies development has to
integrate several factors for increasing the overall effectiveness.
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