Understanding and Leading Change Assignment Report

Added on - 21 Jul 2020

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UNDERSTANDING ANDLEADING CHANGE
Table of ContentsINTRODUCTION..........................................................................................................................4TASK 1............................................................................................................................................4P1. Impact of changes on organisation’s strategy and operations..............................................4P2. Ways in which internal and external factors affect leadership, team and individuals..........5P3 Measures which help in minimising impact of change..........................................................7Task 2...............................................................................................................................................8P4 Different barriers which affect change and leadership decision making...............................8Task 3.............................................................................................................................................10P5 Various leadership approaches which help to deal with change..........................................10CONCLUSION..............................................................................................................................11REFERENCES..............................................................................................................................12Online.............................................................................................................................................12
INTRODUCTIONIn this competitive world, it is required for the organisation to deal with change inenvironment. Environment of market continuously changes with time and affects the operationalfunctions of company in various ways. Firm has to adapt such changes in business so that theycan able to cope up with competition and make themselves stable in market. The report is basedon comparison in between two companies and the way they deal with change happening inmarket scenario (Alkahtani, 2011). Company over which report is on ROLEX and TAG HEUERwhich is a wrist watch firm and make their customer satisfied with their product and service.Report will discuss about various drivers which bring change and affects the working of firms.Measures which help in minimising the negative impacts on entity will be discussed here.Different barriers of change and the way they influence leadership decision with applyingvarious approaches of leadership to deal with change in organisation will also be studied.TASK 1P1. Impact of changes on organisation’s strategy and operationsOrganisational change is that which is being affected by the variations in market. Hence,it is a process of changing the working criteria like (change in policy, procedure and sometimes,aims as well with methods), it is required by firm to face changes like challenge which makethem to work hard to overcome all in proper manner. Therefore, after Brexit companies are usingdifferent technology in effective way so that different firms can provide their helping hand in thedevelopment of economy of country. For the development of their country they are using highclassed technology so that ROLEX and Tag HEUER can compete in market and can bringvarious changes in strategy and operation which also help firm to earn higher profits. Changes inmarket has to be met in right context.The two organisations and effect of change on them are as follows:ROLEXROLEX is a company which is in the market for so many decades and serving millions ofpeople with their high quality products and services in a great manner. Firm produces wristwatches which are of quality in nature and high priced. Company mainly manufactures luxurywatches for rich class people. But change in market is that which also bring change and variation
in preferences and demand of customer in high criteria, it is there that company has to meet theirlikes and dislikes in proper manner (Anderson and Anderson, 2010).Example:ROLEX has to work according to the change in environment and should alsoadapt new technologies so that they can become able to cope up with change in market withbringing innovative products and services which can satisfy demand of consumers. ROLEX isalready on moderate situation where they are bringing most of their innovative watches so thatthey can attract prospect customers as well. Firm is trying to reduce the cost of production andutilizing resources in an effective way which is providing them profit and achievement of goalsand objective.Change in strategy and operationsChange affects the strategy and operations of company. Firm itself tries to reduce thewastage and manufacturing maximum output with minimum input of resources so that they canearn high profits with less expenses. Organisation has to make such decision and strategieswhich help the entity to face many challenges and situations so that they can work accordingly ina proper manner. Research of market thus helps company to make those decisions in makingstrategy which can help in motivating the employees so that they can work in a great structure(Branson, 2010).TAG HEUER:TAG HEUER is a company that is best in their products and making customers happywith their products and services. Products of wrist watch can be purchased by anyone as theprice is reasonable and millions of people can buy such easily. They also produce luxury items ofwatches with general wrist clock for many people.Change in market also bring changes inworking criteria of company as they influence their employees to adapt changes and workaccording to such so that target can be achieved in correct way.Example:Firm is being affected with the change in environment and TAG HEUER issuch which accepts variations in a proper way and try to work accordingly. Changes in marketmake entity to bring changes in their working method as well as somewhere they try to reducecost of production so that they can go with the flow of earning profit (Brown, 2012).Change in strategy and operationTAG HEUER is a company which makes their decisions after having information ofmarket and they always produce those products and services which can satisfy the needs and
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