A Guide for the Shifting Business
Write up by Katie McBeth and infographic provided by Maryville University Online MBA Program
Our world is constantly changing, and businesses are not immune to these shifts in ideas or technologies. Sometimes the changes are gradual, and can be implemented over time. Other times these shifts are abrupt, and – if not handled properly – can be catastrophic.
However they happen, changes are inevitable, and it is up to the leaders of every business to navigate through change without causing serious harm to their business.
You may be thinking change is easy to adjust to, but there are many wrong paths a manager can take. Knowing when to change is only the beginning of the battle; the how can be the most challenging part.
Leaders must ensure that their team can make the transition. When change happens and employees are not given the space or voice to discuss their concerns, then stress can build and employee turnover will increase. When you’re a small business with less than 100 employees, high turnover can result in profit loss and ultimately failure of the business.
Although it’s tricky to keep every employee up-to-date on transitions in the business, transparency is vital. Allow employees to give voice to their concerns, and invest in their development throughout the change. Give them the space and time to learn the new method of business, and you will no doubt come out better in the end.
Maryville University’s Online MBA program compiled an educational infographic covering the when, why, and how of organizational change. They also have compiled a short list of businesses that have failed change due to timing or lack of employee investment. Learn from the mistakes of these businesses, and ensure that whatever change happens at your business happens with the support and trust of your entire team.
Katie McBeth is a writer at Aepiphanni, a small business operations and strategy consultancy that exists to help small business owners CREATE | DESIGN | BUILD extraordinary businesses. Katie is a freelance writer out of Boise, ID, with experience in marketing for small businesses and management. She specializes in millennial engagement, and has been published in Fortune Magazine. You can follow her animal and writing adventures on Instagram or Twitter: @ktmcbeth.
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