Today many different companies perform various functions in the market. Most of the economies have expanded and has increased the national income of most countries. This is as a result of the increase in the number of entrepreneurs in those economies. In order for a business to be successful and flourish in the market, the owner, with the approval of the stakeholders should implement proper management techniques in order to guarantee the success of the business. Some plans and initiatives are used by the management of a business to come up with an effective plan that will hopefully guarantee success. There are different businesses in the world today that serve the population with different types of goods and services. Some examples of business ventures include restaurants, hotels, banks, and supermarkets. The main aim of the business is to create an environment to be able to maximize the profits for the company. There comes a time where entrepreneurs need to expand their businesses, and they need to have an appropriate plan to do so.
Plan to Expand
Change management is the use of organizational tools that are essential for making personal transitions in business to be successful. These tools are vital as they help a business to adopt and realize the change (By, 2005). Focusing on the situation at hand, it is clear that the microbrewery and restaurants are already established, and the entrepreneur is focusing on expanding the business. This means that there is a need to come up with a plan that will help in the expansion of this venture. Using change management and the appropriate tools, it is possible to document a plan that will be used in ensuring that the entrepreneur has expanded the business successfully without affecting the normal operation of the existing business (By, 2005). As a means to confirm the success of the plan, it is important for the leader in charge to engage all employees present in the company in the execution of the plan. Using change management, it is possible to transform the current business from its form to the desired state. This will require the use of the different change management tools for example stakeholder analysis, Awareness, Desire, Knowledge, Ability, and Reinforcement (ADKAR) analysis, culture mapping and also the force field analysis (Athuraliya, 2019). Using these tools, it will be possible for the business to achieve its desired goals and objectives.
Goals of the Change Management Initiative
Different goals are related to change management initiative in business. Many goals and objectives will be achieved using the necessary tools that will forecast the growth and development of the business. The first goal that will be achieved after the adoption of a proper management plan is the establishment of a culture that promotes innovation (Rigby & Bilodeau, 2018). This culture will foresee the growth and development of the business because it will be the innovation of techniques that are cost-effective and will reduce costs and boost profits. This will lead to another goal that is associated with the development of innovative strategies. This will help the microbrewery and the restaurant to develop strategies that will help the organization to improve in terms of innovation. This will be to make sure that the expansion of the business is successful and that the entertainment venue that is being created uses modern equipment and are cost-effective and environmentally friendly.
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Another goal that is associated with this change management initiative is the identification of change accountability and responsibility (Rigby & Bilodeau, 2018). This will ensure that even after the expansion of the business, leaders and all employees will be accountable for their actions, and this will ensure that the whole business is not making any losses. All employees will be responsible for their actions a plan that will propel the business towards success. Another goal for the plan is that it will empower agents of change within the organization a goal that will help the business to generate the most profits. Principles for the change will also be established which will enable the microbrewery, restaurant, and the new venture to expand its territories without a hitch. These goals will be attained when the implementation of a proper change management initiative is successful
Tools and Processes.
The plan will be used to come up with the necessary tools that will aid in the required expansion. Before the adoption of a change management plan, some actions have to be taken before to ensure that the necessary tools are used and that the plan will be successful. Among the elements first, there will be a readiness assessment that will be conducted in order to detect whether it is possible to launch the change management initiative within the organization (Levasseur, 2011). This step will enable the change management team to evaluate all the associated parties, including employees, stakeholders, and the history of the company. This will paint a clear picture of the challenges and all the opportunities that are more likely to emerge from the change process. Another action that will be taken before launching the change management initiative is the establishment of proper communication channels. This will ensure that every one that is involved are able to get the required information on time, so that that plan can be easily integrated by all parties in the organization and that the new employees that will be added after the expansion of the business (Levasseur, 2011). Communication with the sponsors and all executives is essential also. These stakeholders should be aware of the plan before it is launched. Another step is the training of managers on matters related to change management. All the floor managers present in the business will be trained. Training all the employees is another step which will be overseen by the management team. Employee feedback will be listened to, and appropriate changes will be adapted into the current practices before the launch of the expansion. The next step will be to reinforce the changes and then a continuous review of those changes looking for improvement.
The ADKAR analysis is a tool that will be used to implement the management initiative advocating for change as a means to ensure that the restaurant and microbrewery personnel can cope up with the change that is associated with the expansion of the business (Gill, 2003). The ADKAR analysis is a tool that will focus on all the department within the existing business to come up with proper action that will ensure the project is successful. This tool will ensure that all employees and stakeholders involved can support the change. This ADKAR model requires goals that leaders should ensure can be attained by the employee’s and also to get their support to implement the change strategy.
The first step associated with this tool is the spread of awareness within the organization. This is in order to communicate with employees clearly and explain to them why the change is important. The second step when using the ADKAR tool is to inspire of all parties that are involved in the process. It is important to have employees feel like they are supported in the integration of the change (Gill, 2003). Supporting employees with the changes with help them embrace the changes instead of them fighting back and causing friction between the two parties. The next step involves training employees in order to impart the required knowledge for them to be successful at their job. This is possible through tutorials, coaching programs, and on the job training. Here the employees are taught and shown how to think like a team, sharing of information and also setting goals that are reasonable and then attaining them.
The ensuing step involves action, where adjustment of the team begins. In this step, the most applicable framework is employed in order to propel the change that will favor the expansion of the business (Understanding and Managing, 2006). The final step is learning from mistakes. A learning coach also helps to make sure that all the procedures are followed and that the organization has achieved its goal. Below is a figure that shows the ADKAR model and expands the details (Athuraliya, 2019):
Force field analysis is another tool that can be used by the business to initiate change. This tool is important in helping the company to realize the change that is needed. This tool is used in investigating all the obstructions that may exist when implementing the desired change. It is used in analyzing what is needed to propel the change and also establish any problems that may hinder the realization of change. The first step that is taken when using this step is the definition of the required change. It is important for the company to define the required change so as to ensure it is executed successfully (By, 2005). The next step involves the brainstorming of the ideas that will propel change within the organization. Here the organization should focus on both the internal and external environment in order to establish that the desired change can be done. This is essential because it guides the company on which where the change needs to be done and how it will be implemented. The final step associated with this tool is the establishment of the things that may impend the sought after change.
There are essential leadership strategies that will help in the implementation of the change within the business. These strategies will help make sure that the change is launched successfully. Another strategy that is important when implementing change management is starting at the top. This ensures that the executives and other top managers have talked and agreed upon the change before bringing in the other employees leaving room for their suggestions, but knowing what the goal is, and what the result is going to be. This will make it easy for the team to accept the change and ensure that it is successful. Another strategy is the involvement of all parties within a company. This will help all employees, managers, and stakeholders are educated on the importance of the change (Aldhwani, 2011).
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It is also important for the leadership to explain why the changes are happening. This is an important step that will help in the successful execution of the plan by keeping everyone on the same page. The use of formal systems is also another strategy that can be used to ensure that change is evident in a company. An example of these formal systems is the use of rewards. Indeed, these strategies will ensure that change management is possible within the business and that the required expansion is successful. This will ensure that the company has achieved its desired state, successful.
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Windy City Brewing Co. Memorandum
TO: Banking Officer of the International Bank of Chicago
Re: Loan approval
As the owner of the Windy City Brewing Co., this is a request of funds from the International Bank of Chicago to fund the expansion of the company. When using the change management initiative, the business has established the need for the addition in order to escalate revenues generated and therefore increasing profits.
The Windy City Brewing has established a plan that caters for change management and the expansion of the business, which requires capital for financing the initiative. Windy City Brewing is seeking the approval of the already applied loan in order to facilitate the success of this plan. The plan has been approved by the stakeholders in the business and a third party consulting group and is sure to make more profits from the expansion.
This guarantees that the loan will be repaid on time using profits generated from the already existing business. The loan will be used to fund the expansion and the change management initiative program.
Thank you for your time and consideration. Let me know if you have any questions or concerns.
- Flood, T. E. (2008). MBA fundamentals: Business writing. New York, NY: Kaplan.
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