In today’s dynamic corporate world, business changes are required to keep up with the dynamics of the environment. In order to gain the maximum benefits out of these changes it is very important to plan them as and when required. Managing organizational changes is defined as the procedure with the help of which the required changes in the business are planned and implemented in such a way that on one hand it could lessen the confrontation from the employees and cost to the company and on the other it could gain the best for the company. In order to maintain the competitive edge in the market, the businesses have to undergo changes on regular intervals of time as per the requirements (Cummings & Worley, 2014). Similarly there are many reasons due to which the changes in business are bound to happen. So in the report below, there will be detailed discussion on the reasons or the causes behind these changes. The changes in a business cause a lot of positive as well as negative impact on the stakeholders of the company. The report will cover that too.
The businesses face consequences if they fail to change in required time and there are many challenges associated with the organizational changes. In the report all these topics will be covered so that it gives a complete overview of managing the organizational changes for any given business.