Leading and Managing Change in the Current Economic Climate

Leading and Managing
Change

Table of Contents
INTRODUCTION...........................................................................................................................3
MAIN BODY...................................................................................................................................3
Changes within the current economic climate, and whether they need to take a planned or
unplanned approach to change going forward........................................................................3
HR management can support the planned/unplanned change approach, considering both
business strategy and external factors impacting on the business..........................................6
Main challenges for the Human Resource Department. Advise HR management of the
strategic approaches available to them in handling this shift, taking special consideration for
any possible resistance to change...........................................................................................8
CONCLUSION..............................................................................................................................10
REFERENCES..............................................................................................................................11

INTRODUCTION
The term, Brexit where withdrawal of United Kingdom took place from European Union
(EU). Basically, the referendum was made on June 2016, where approximately 51.9% of the
people voted against United Kingdom (Leave European Union). This not only impacted upon
day to day life of citizens of United Kingdom but, on the companies as well that are performing
operations in this nation. Including this, business organisations also took number of actions so
that they could sustain within the uncertain business environment of United Kingdom (Archibald
and Archibald, 2016).
Company that has been taken into consideration is Marks and Spencer, which was
specifically dealing with various issues in the mid term, where the whole process of eviction was
going on. Report is going to be enclosed with current economic climate of United Kingdom.
Including this, assessment is also going to be enclosed with HR management of Marks and
Spencer where it can support the planned or the unplanned change approach. Lastly, main
challenges for the HR Department will also be elaborated, where management of strategic
approaches will avail different factors that would help in handling shift, taking special
consideration for any possible resistance to change.
MAIN BODY
Changes within the current economic climate, and whether they need to take a planned or
unplanned approach to change going forward
Brexit in present time, is said to be one of the crucial subject which every single
individual is looking forward to study, as it has impacted upon overall performance level of the
different local and international companies. Basically, on March 2017, United Kingdom (UK)
got evicted from EU where, initial process was started and that is currently due to conclude with
the United Kingdom withdrawing no later than 31 January, 2020. This brought ample number of
changes among overall working process of business companies and raised various confusions as
well in relation to what decisions are required to be made, so that they could sustain within the
market for a longer period of time (Tirmizi and Vogelsang, 2016).
Including this, Marks and Spencer, which is a major British multinational retailer with
headquarters in Westminster, London that specialises in selling high quality clothing, home
products and food products. Just, when the referendum came in front, Marks and Spencer has

also started dealing with various employee related issues like expatriate has had built the fear of
loosing job, less growth within the company and other types of risks. This is where, Marks and
Spencer has thought of going through the current economic conditions of United Kingdom, so
that right decisions could effectively be made in a short span.
Based on the information, that came in front it has been analysed that global GDP growth
has slowed markedly, partly because of escalating trade protectionism. On the other hand, there
are number of central banks that mainly reduced the overall policy rates. Including this, it is said
that not only of United Kingdom but international conditions of finance also disentangled, which
impacted negatively over different business organisations like Marks and Spencer. Therefore, it
cannot be said that whether the company should take a planned or unplanned approach to change
going forward at workplace. But in some areas like, Sterling has specifically appreciated
approximately 4% since August as the risk of a no-deal Brexit has fallen. This made chances for
Marks and Spencer to consider different plans to specifically execute their made decisions for
heavy profit and so on (McCrea, 2015).
It is also said that, United Kingdom's GDP growth has been volatile so far this year, but
because of this it cannot clearly be said that the organisation i.e. Marks and Spencer will
effectively sustain within the market for not. Due to these reasons, it made workforce of M&S to
think of their job that they should keep on working within the company or not. Due to this, HR
Department of this firm has had to think over number of temporary and permanent internal and
external factors so that underlying growth could easily get improvised. Here, Marks and Spencer
could effectively make appropriate modifications among business. This reflects the impact of
Brexit-related uncertainties and weaker global growth. Based on the analysis, it is also said that
employment growth of United Kingdom has weakened recently and the basic reason that came in
front was Brexit where it slowed down the demand growth and raised number of margins of
spare capacity to open up. CPI inflation has been close to target in recent months, although lower
energy prices and water bills are likely to cause it to fall over the next few quarters. Some of
these factors within the current economic climate of United Kingdom are presented underneath: