Strategic plan is less about future decision than about the prospect contact and penalty of today's decision.Â Strategic forecast examine the requirements of today and tomorrow in light of an organization's goals and capability. Â Â And it lets organization inform their goals and recognize new capability they may need on panel, tie strategic goals to a strategic organization plan and objective setting.
Moreover while involving stakeholders in the planning of change in Zurich Financial services Plc. They have to work on strategic planning with their stakeholder in a verity of ways and with great cultural styles. When involving stakeholders they have to have a proper system in order to involve them in a manner that they can contribute onwards an organization which ultimately helps them in future.
And because good strategic preparation can light your association with a new vision of your mission it can help your association to shine in that future, no matter how different it may be from the past. Well there are different ways to involve stakeholders in change planning there is not any specific model generated ever to involve them yet organization can involve them on following grounds,
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Advisory councils and steering committees can involve stakeholders.
Invite stakeholder to attend periodic meetings.
Asking for their suggestions.
Developing advisory council or membership advising.
Allowing individuals a healthy ways to be heard is also a good way of keeping the stakeholders from blocking progress or interrupting your growth plans.
Organize and appreciate the perspective of stakeholders.
So these are the grounds on which you can involve stakeholders in the planning of change in Zurich Financial Services Plc.
L O 3.2
Formulating the change management strategy with stakeholders if the first critical step. The strategy provides direction and results in informed decision making thorough out the change process. A well formulated strategy really brings the project or change to life of stakeholders, describing who and how it will impact the organization and stakeholders. Following strategies models could help Zurich Financial to involve stakeholders and gain its long term objective.
Change characteristics work sheet
Change characteristics assessment
Impact index assessment tool
Organization attributes worksheet
Team competency assessment
These are the best strategy to implement in order to involve or develop change management strategies with stake holders.
L O 3.3
Well with the help of strategies models as discussed above Zurich Financial Services could get effective planning change and efficient operation at Zurich Financial services. If we elaborate it further we can get following results,
These change management strategies could help to develop some change management plans for stakeholders as well as for Zurich Financial services Plc. By using those models Zurich Services can make stakeholders aware of the situations of an organization provides them proper supporting structure so that they can be aware of the organizational structure and can make their self's understand in regards to the ultimate objective of an organization. Moreover by using Zurich Financial Services can further derive strategies in order to involve stakeholders and implement change in an organization. These are as follows,
Resistance management plan
L O 4.1
Well developing a change models for any organization is not an easy task because it involves lots of effort to understand current organization and then make changes in current strategies which could lead organization in downturn, so that is why it's very important task to develop appropriate change model and then implement to enable organization to achieve its ultimate objective.
In Zurich Financial Service case I have developed 8 step strategies or models with the help of "KOTTER BOOK CHANGE MANAGEMENT" for Zurich Financial Services so that they can implement those to get their ultimate objective, which are as follows,
According to the JOHN KOTTER these 8step strategies can help any organization to achive ultimate objective.
Acting with urgency
Developing the guiding coalition
Developing a change vision
Communicating the vision Buy-in
Always on Time
Marked to Standard
Empowering Broad based Action
Generating short term wins
Don't let up
Make change stick.
Even by improving their abilities to change, organization can increase their chances of success, both today and in the future. Examine market and competitive realities are to identify and discuss crises, potential crises or major opportunities. Assemble a group with enough to lead the change effort and encourage the group to work as a team. Use every trick to communicate with stakeholders about the new vision and mission and strategies. Remove obstacles to change from stakeholders and let them be involved in the change process.
L O 4.2
Well above mentioned model is very important for Zurich Financial Service if they implement it in a manner it requires what are the efficiencies and effectiveness of that model are as follows,
Acting with urgency means establishing a sense of urgency is necessary to gaining the cooperation necessary to drive a significant change effect. More over plan to implement they have to go through many steps in order to review whether they are good for organization or not.
This model has the ability to make changes efficient and effective because it identifies and discuss the crises and opportunities with change makers so that they can understand the situation and implement the change in according to the situation. It also helps to create the vision to help direct the change effort.
This model is successful because it allows the director to communicate the new vision and strategies to its stakeholders and shareholders, it teaches new behaviour by the example of the coalition. It removes obstacles to change and provided fair way to company to move ahead and achieve its goals.
Articulate the connection between the new behaviour and organization success it also develop the means to ensure leadership development and succession. That why it's very effective and efficient for organization to succeed in their mission, most importantly I would recommend these models to Zurich Financial Services to implement in order to get better results and excel.
L O 4.3
Well to develop appropriate measure to monitor progress for ongoing change you have to consider following question,
Why you want to monitor?
What you will monitor?
Key features of effective monitoring?
Keeping records and monitoring activities helps see progress and builds a sense of achievement. Records can be useful and even essential when promoting the group or applying for funding. Monitoring also has significant for the wider field of conservation. So any work undertaken by your group has the potential to contribute to the refinement of measure of health.
By monitoring progress, will help us make informed decision. Will help us know that our project in on track. It will also help us to know what the appropriate scale for monitoring is. Do we need input from other group or agencies?
Significantly valid techniques are being used will help us to get to know that aspects relevant to the project so that we can always amend them and move further accordingly. By monitoring ongoing change will help us to carry out regularly and will help us to make accurate records it is used as part of company's evaluation to support or adjust project goals and actions.
So keeping measures provides an opportunity to learn about the progress and try to make it more reasonable for organization in other words it informed future actions. It should be factored into companies initial project planning because it refines you project as you go so that evaluation is part of your regular project activities. Hence developing appropriate measure to monitor progress for ongoing change is the best idea to keep track of progress which is helpful for organization to achieve its ultimate objectives.
The Zurich financial service PLC is now a global head in the financial services industry, given its consumer with resolution in the area of financial safety and assets gathering. So we can conclude this report by mentioning that Zurich financial services group has broad and wide network and has the best team force in order to make decision and implement them as a change.
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I have also tried to develop different strategies by consulting different books I would recommend that if Zurich Financial Services adopt them they can move forward and implement new changes which are ultimately goes in favour of stakeholder and shareholder and general public and also for those who are now trying to bring changes to their organization.
More over as discussed in pervious assignment that they don't have to make any change as far as their geographical extension is concern but if they change internally as far as strategies are concern they will be able to achieve their ultimate objectives.
I hope this assignment will provide reader a full vision to understand the terminologies being used in this assignment.