Discuss about the Change Management Plan Of BizOps.
The company is working under the IT industry to plan and operate business operations. With the rapid change in the economy, the company is liable to change with the economy. The only things that can operate in the company are strategic drive for the company to accomplish better performance. The change management should be backed with plans that must be implemented thoroughly. Otherwise, the risk of running new plans will become a liability that cannot be changed (Fang et al. 2015).
- Rapid change in globalisation can lead to better chances in adoption of business. Thus, the change will lead to better solution for the organisation.
- The technological change in business can lead to better business activities
- With the change in customers taste and preference, the only thing that matters is reaching their expectation. Thus, strategic change in collaboration, communication, and customer’s relationship management must also the dire need of customers.
Political – Australian IT industry, which has a stable economic growth since 2000. Australia also has greater income in the dynamic natured private consumption of people and raised house prices. The economy is also thriving in international trade and business. The federal government is raising its appeal in the international competition (Trieloff and Buys 2013).
Economical – The GDP (Gross Domestic product) of Australia is 2.9% in 2016. In order to change the bank’s position in economy it is more important for the government to take the interest rate to 1.5% (Trieloff and Buys 2013). The IT industry is slowly entering the growth stage in the country. Thus, it comes with a good opportunity for BizOp enterprises.
Social – The social background of the company is related to the culture of people. The country also is a in habitats of the 60,000 migrants. The sustainability of the company is dependent upon social norms of the country. (Weiss et al. 2014).
Technological – Australian industry have better Innovation, research, and development in the technological sector, which will be helpful for BizOPs. The Automation and digital economy is highly enabled in the telecommunication and manufacturing sector. The major changes in the technology sector and establishing better cash flow system is enabled in the technological industry. Thus as the company provides solution for business, it can be stated that the company will get vast opportunity for the people (Trieloff and Buys 2013). In addition, the incorporation of new technologies in every sector will highlight unhindered opportunities for BizOps.
· A well co-ordinated team is major strength for the organisation
· The company is counted among the best start-ups of the company
· The track record of high achievements among the nerds are better for the company
· The organic marketing team of the company is highly proficient in marketing
· The Nerd Wallet professional is very important part of organisation as well as leading the team (Telegina 2016).
· The maturity stage in the software solution business in international market is weakening the domestic software solution business of Australia
· The weakness of the company also lies in the size of the company
· The more important part of the organisation is the marketing development team. Thus it can be stated that the visibility of company is not better
· The pipeline of talented people in management and technology department the people are very inexperienced
· The technological industry is in a stage of growth and introduction, therefore exploring the opportunity can be beneficial
· Capturing the better position of the market is needed for the company, as other companies are very competitive sector.
· The globalisation has enhanced their market in the software business, therefore, China, Asian market can be explored for more opportunities (Telegina 2016).
· The major threat lies in the maturity stage of the Technological industry
· As a start up the companies have lesser investment opportunities for the company
· With less investment opportunities they are vulnerable to future growth (Weiss et al. 2014)
The analysis of the gap between the company’s present analysis of performance and what the future performance can be. The actual performance and potential performance of the company is what is analysed by the tools.
Current state - the company is a start up with having more opportunities in future years. The sales of their software solution have achieved more importance of over the last years in the business. The revenue of the company is annually is 3 million for 2016. The market share is 4 % in the industry. There is also Lack of employee morale in the company. The features and functions for strategic improvements through recruiting are not efficient. Profitability of the company is less than the mark in the company at an average of 8% .
Future state – the company must be given more emphasis to reach the actual potential in sales. The calculated potential of the company is 25 million and thus it can be said that the company is way beyond. The market share should reach 15 % more share in the industry. The employees must give more emphasis in enriching their clients and employers morale. The strategic improvement should be incorporated in the company functions and activities. The profitability has a chance of increase if the bottom line is aspired to be enhanced by optimising business operation.
Gap - has been identified in market share as a 11% and also in the profitability of 21 million. Thus it can be seen that the company is must improve with the challenge that the industry poses. The gap identified in the company will be improved if the following remedies are taken into consideration.
- The strategic management of the company must go through all the policies including the recruitment policies of the company.
- The profitability issues will be overcome if the pricing strategy is revised in the meantime the sales opportunity is fully explored.
- As the company is behind its potential market share, the company must plan to take up challenge with their competitors. The potential tools must be used to further in-depth analysis of competitive challenges that the Australian software industry (Tong et al. 2015).
- Lack of consistency in the business operations and after going for analysis of hidden cost, a problem-solving tool must be used in order to identify the key problems. Many inefficient business could not achieve its target annually is they are incapable to solve the source of hidden costs.
From the above analysis and current state and potential of the company, it can be stated that the investment decision must be taken carefully. The peak of reaching 25Million sales must be planned according to the latest revenue of the company (Ho 2014).
Based on the probability of the new project plan and change implementation strategy the expected rate of return is near 2%. Therefore, the risk can be 2% or more than 2% for the company to implement the new strategies (Helfat and Martin 2015).
According the change that has been identified to be implemented in the company can be stated that the proposed change management will be difficult to implement. The implementation will be done by identifying the forces in change and forces against change (Hastings 2015). The force of change is
- Customer needs
- Improved product innovation speed
- Reduced training time
- Low cost maintenance
Forces against change
- Loss of staff
- Impact on environment
The major change vision statement of the company is to guide the teams and department to its optimum achievement. As a customer centric company they must also focus on providing their customers most innovative software product and services. In addition, being the most recognised in the software industry and among their customers should be included in the vision statement (Hayes 2014)
The statements of formulated change strategy are given
- The external environmental factor must be recognised and then the steps to eradicate the problems must be taken. The environmental factors must be eliminated in order to incorporate change in the study.
- The communication strategy be it internal or external should be formulised in the manners that can smoothen the business operation process of the BizOps.
- The stakeholder’s analysis of the company must be included to develop and induced in the plan. The stakeholder’s satisfaction must be checked too (Weiss et al. 2014).
The action plan here includes the departmental change management plan that includes dates and audience of the stakeholders (Hayes 2014).
Training plan – This includes the employees of all the department. The process will take 6 full months in total
Communication plan – This also includes all involved department of the company (Goetsch and Davis 2014). This also must be given a 4 months’ time.
Resistance plan – This survey operation must include resistance consequences and must deal with the matter with approximately 3 months after the implementation of change management plan.
Reporting and readiness assessment plan – The reporting plan must include checking of the Key Performance Indicators and review of ongoing feedback and monitoring of the plan. In addition, the audit checklist must be included. This also must be a ongoing process(Goetsch and Davis 2014).
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Goetsch, D.L. and Davis, S.B., 2014. Quality management for organizational excellence. Upper Saddle River, NJ: pearson.
Hastings, N.A.J., 2015. Cost–Benefit Analysis. In Physical Asset Management (pp. 239-248). Springer International Publishing.
Hayes, J., 2014. The theory and practice of change management. Palgrave Macmillan.
Helfat, C.E. and Martin, J.A., 2015. Dynamic managerial capabilities: Review and assessment of managerial impact on strategic change. Journal of Management, 41(5), pp.1281-1312.
Ho, J.K.K., 2014. Formulation of a systemic PEST analysis for strategic analysis. European academic research, 2(5), pp.6478-6492.
Telegina, D., 2016. SWOT and PEST analysis (Doctoral dissertation, Sumy State University).
Tong, J., Li, H. and Wei, Q., 2015. Development Environment and Strategic Choice for Rural Endowment Insurance Fee-to-Tax: An Analysis Based on PEST-SWOT Model. In Proceedings of the Ninth International Conference on Management Science and Engineering Management (pp. 743-758). Springer, Berlin, Heidelberg.
Trieloff, W. and Buys, P.W., 2013. An analysis of the competitive business environment of a family run Brazilian auditing firm. International Journal of Auditing Technology, 1(1), pp.52-74.
Weiss, P.L., Cobb, S.V.G. and Zancanaro, M., 2014. Challenges in developing new technologies for special needs education: a force-field analysis. In 10th International Conference on Disability, Virtual Reality and Associated Technologies, Sweden.
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