Multinational Firm Strategies and Change Management
Added on 2020-03-02
13 Pages3642 Words60 Views
Leadership ManagementProfessional DevelopmentLanguages and Culture
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Change Models for Multinational Firms 1MANAGEMENT OF CHANGE IN MULTINATIONAL FIRMSNameInstitutionCity/StateDateTutor
Change Models for Multinational Firms 2Table of ContentsIntroduction................................................................................................................................2Background information on diversity and the nature of the international business...................2Theoretical models of change for multinational firms...............................................................3Lewin’s Model........................................................................................................................3ADKAR Model......................................................................................................................5Kotter Model..........................................................................................................................7McKinsey 7s Model...............................................................................................................8Conclusion..................................................................................................................................9List of References....................................................................................................................10
Change Models for Multinational Firms 3Introduction With the technological advancements and adoption in the global business arena, diversity management is a vital aspect that should be adopted by a company with the aim of remaining effective in the competitive global market. In a systematic review, Shah, Hasnu, and Butt (2016) point out that any local, regional, or international firm seeking to succeed in business should embrace diversity toward their business thinking, strategies, styles of leadership, as well as in their business activities and innovation strategies. The same study denotes that diversity is no longer on making numbers but is focused on how the organizationauthentically treats its stakeholders down the foundation of the business model adopted. As a result, diversity has become a time-sensitive imperative in the current business environment. This paper hence seeks to evaluate the theoretical models of change that can be adopted by business executives with the aim of transforming ways of working within their multinational firms to meet the desired business goals. Background information on diversity and the nature of the international businessRecognizing the need for diversity in a workforce is a value that is expected of all company executives and leaders. In a systematic study, Akinyi (2011) points out that the ongoing process of globalization in the social, political, and economic facets have led to the significant increase in the cross-cultural interpersonal contract. In other words, intensified internationalization in the global economic arena has been achieved through joint ventures, alliance as well as acquisition and cross-border mergers as pointed out by Hamraz, Caldwell, Wynn, and Clarkson (2013, p. 676). The same study denotes that top most global organizations all across the world are made up of cultural and ethnic differences within the working environment. It is because business managers and executives have realized the
Change Models for Multinational Firms 4importance of making a business environment broad and diverse to effectively reach the target customers. As a result, Masiero and Campomar (2016) point out that globalizing a diverse population requires a very intellectual dialogue all across the workforce to ensure effective change in productivity and performance in the business is realized. As a result, many studies recommend the adoption of proven and effective theoretical models that can effect change in both regional and multinational firms. However, the scope of this paper will focus on multinational firms only. Theoretical models of change for multinational firmsLewin’s Model Lewin’s Model is a change management model that is known for its popularity and efficiency when adopted both locally and internationally in the business management processes. The model was developed by Kurt Lewin, a physicist and social scientist who usedthe changing states of an ice block to explain the organizational and structural change (Lindberg 2013). In his study, Lewin observed that a block of ice cube has the ability to change its physical states from the solid form to the liquid form through a process known as unfreezing, also called melting in the modern science. At the liquid state, it is very easy to control it into the shape one desires, and this is the stage referred to like the change stage. Thenew form solidifies into the required shape through a process known as freezing. The model consists of three steps that are unfreezing, change and the freezing stage. In a systematic study, Lapatinas (2015) points out that the Lewin’s model has been adopted as a management strategy by many international executives with the aim of transforming the performance of the workforce as well as the overall organizational performance. In adopting the model, the study denotes that the management always starts by preparing people of the changes that are coming, a stage known as unfreezing. For instance,
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