[Paul STOCKParticipant @stogie55]

Paul Stock:  What is your experience with Business, Business Administration, and/or Management?  Why did you join this group?

 

 

[Ayesha MajidParticipant @ayeshamajid]

I’m a Business Management Student and I joined the group so that I can learn from the shared knowledge in this platform and have healthy discussions with fellow group members.

[Paul STOCKParticipant @stogie55]

Paul Stock:  Thank you for that answer, Ayesha.  It’s great that you are studying Business Management.  One important topic that is trending in the field of Business Management is called “Change Management”.  Have you heard of it?

Change Management is the skill of performing effective management when factors keep changing.  It’s a challenge to manage effectively during change.  Most of the factors that change are beyond your control, but the change affects your company.

An example is when your budget is reduced 20% and you have to decide how to reduce your spending by 20%.

Have you ever experienced “Change Management”?

 

[Ayesha MajidParticipant @ayeshamajid]

Yes I have heard of it, and what I have understood so far about it is that Change Management has its roots in Operational Innovation and the strong desire of firms to achieve Operational Excellence.

[Paul STOCKParticipant @stogie55]

Paul Stock:  That’s right, Ayesha.  The change is usually implemented by the company to improve efficiency, reduce costs, or to shift priorities.  However, the change could come from outside the company like the government policy, laws, or taxes.

Also, whenever there is an unexpected change it requires the manager to react.  A good manager has the ability to quickly change plans with minimal side effects.  Some managers get very frustrated when there is frequent change, but you have to stay calm and deal with the situation.  Some managers are better than others at handling change.

 

[Ayesha MajidParticipant @ayeshamajid]

Thank you for the insights and enlightenment 🙂

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