Russell Smith

Russell Smith

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In today’s competitive world, dynamic business environments, perhaps the only static professionals can rely on change. Organisations must be agile and willing to make decisions quickly, and those that are able to do this will face a lot of changes in a short period. This change can be organisation-huge or team-based and might stem from any wide variety of factors, from technology to internal operating needs to finances to politics.

While the change in an organisation is a good thing, it's something that many individuals are uncomfortable with or even fear. To many employees, hearing of upcoming changes implies some negative outcomes: the loss of a job; a new manager; a restructured team; reduced pay or benefits. As a head of the organisation, it's your responsibility to set the tone for your team and prepare yourself for managing organisational change as effectively as possible, helping your reports or file to understand and navigate the change as best you can. This is not an easy task, especially when you might not have all the necessary details or have mixed feelings about the changes in an organisation.

How to manage organisational change is a key component of leadership in an organisation. If you're facing some changes in your organisation and want to learn how to manage the change management process, then here are some of the key organisational change management strategies you can employ.

Managing Change in Organisations

1.Plan Carefully

Before you bring proposed change in your team, make sure you have a clear plan, and why the change is taking place. Ideally, you'll have documented the tasks needed to get you to where you want to be, mentioned new or changing responsibilities for anyone affected, crafted a fully-developed timeline, and come up with responses to address potential concerns.

2. Be as Transparent as Possible

One of the tricky parts of organisational change is that it will involve a level of confidentiality on the part of the management team or certain employees. However, especially when the change will be a major one, it's helpful to be as transparent as possible with your employees - even if you can't give them all of the details, being upfront about the pieces you can share (and clearly explaining their impact) will go a long way towards helping your staff feel more comfortable.

3. Tell the Truth

This is an easy rule to follow when your change is positive; when the change is in response to challenging circumstances or will result in short-term negative outcomes, this becomes trickier. While it's important, as a manager, to be present an optimistic in front of your team, do so in a way that acknowledges potential challenges and drawbacks.

  1. 4. Communicate

Keep the conversation open between you and your employees. Take sufficient time to explain why the change is happening, and what it will look like if executed. Make yourself open to questions, hold team meetings, and invite staffs to analyze your reports and talk about their concerns or thoughts in a neutral atmosphere.

5. Create a Roadmap

Help your employees to understand where the organisation is, where it's been, and where it's going, Is it going in the right path or not. How does the change play a role in business history, and how is it going to shape its future? Laying this out clearly will demonstrate the strategy and tactics behind the change, and will help the employees to see how it fits, or is evolving from, the business model they've become accustomed to.

Do you need to brush up on your leadership/management skills, or want to learn more about change management? Our training/ workshop session on change management might be right for you! Contact our team today to learn more.

 

Introduction

Change is the only constant in the world. It is true for all business organisations. Every business organisations often change the way they operate. In your organisations, the old ineffective practices are forced to leave and follow the new initiatives. In addition to that, technology is constantly changing and the business organisations need to update themselves. There are several approaches about how to change. Of course, we may all agree that the change is required for every business organisation, how the change should take place? Deriving a change management process should be a collective effort and refining of the ideas.

In this article, we will have a look at the change management process suggested. Since this process has shown results for many organisations.

Eight-Step Change Management Process

Step 1: Urgency Creation

If the whole team in a company wants to lead the organisation in a successful path a change is necessary. Are you planning to make some changes? then you need to make others want it. You can create urgency around what you want to change. Use statistics and visual presentations to make them understand why the change should take place and how the company and employees can be a part of the benefits.

Step 2: Build a Team

If your way of the convincing method is strong, you will win a lot of employee in favour of a change. Now it's a time to build a team to carry out the change from the employee, who support you. Organise your team structure and assign responsibilities to the employees, and make the employees feel that they are important for the organisation.

Step 3: Create a Vision

Having a vision is a must while change takes place. The vision defines clearly to everyone. If you have a clear vision then your team members know why they are working on this change initiative and the rest of the employees in your organisation know why your team is doing the change.

Step 4: Communication of Vision

To implement the change deriving the vision is not just enough. You need to communicate your vision across the organisation. These type of communication should take place frequently and at important forums sessions.

Get the influential people in the company to support your effort. Utilize every chance to communicate your vision; this chance could be a board meeting or just talking over the lunch.

Step 5: Removing Obstacles

Every change takes place with some obstacles. Once you communicate your vision, with your employees you will only be able to get the support from your employees. Always, there are some people who resist the change.

No change takes place without obstacles. Remove the obstacles as soon as they appear. This will increase the dignity of your team as well as the rest of the staff.

Step 6: Go for Quick Wins

Quick wins are the best way to run the organisation on a successful path. By implementing quick wins, your team will have great satisfaction and the organisation will immediately see the benefits of your change initiative.

Now and then, make a quick win decision for different stakeholders, who get affected by the change process. But remember to keep the eye on the long term goals.

Step 7: Let the Change Mature

Due to an early declaration of victory, many change initiatives plans get dropped. If you haven’t implemented the 100% change, people will be dissatisfied when they see the gaps.

Therefore, complete the change process 100% and let it have its own time to get them integrated into the organisational processes before you say it 'over.'

Conclusion

In this competitive corporate world, the one who welcomes the changes stays ahead of the competition. Change Management in your organisation will ensure business success.

Once in a decade, some changes will happen in an organisation, and more recently, maybe once a year. But today’s digital workplace changes are taking place on a monthly, weekly, daily and even hourly basis.

So how do organisations are undergoing constant changes, and how they are managing both the long-term strategical challenges and the daily tactical ones?

What is Change Management?

Change Management resembles an umbrella because it covers all types of processes implemented to prepare and support organisational change. These range from methodologies applied to resources, business processes and all other operational aspects of a project. Change Management often refers to a change control process when working on a project. That is, the process of changes in scope to a project are formally approved as a change management system.

Change management isn’t merely about projects and organisations. You’re preparing, equipping and supporting team members in your organisation to adopt a change. This leads the project in a successful path. Yes, change can happen anywhere and at any time, change management offers a structured method that can control your project. But it is necessary to manage that change by the strong leader. To execute the best plan and respond to change, first, a clear definition of change management must be understood.

Different Types of Change Management

It is important to categorise change as occurring in three distinct categories. By splitting the large subject into small subsets of change it becomes more manageable.

Individual Change Management: 

People are the main cause of all change. You can change the procedures, but if you don’t address the human in the room, then you’re not going to change anything. To get people to change, you must know your core part. How and when should training be offered to help the organisation with the transition? The tools of this trade are psychological; even neuroscience can help with finding the right angle to steer a person from one behaviour to another.

Organisational Change Management: 

The people in your team are the core target for an effective change, there are larger organisational issues you must address if you want to create real change in a project. To execute this plan first identifying the groups that require change and how they must change. Then create a plan that addresses these components of the project, which includes making everyone aware of the change, leading and the change through some other method like training, coaching that change in congress with the management of the whole project.

Enterprise Change Management:

Taking a setup from the organisational change is to deal with the complete enterprise. You’re more likely to execute change on the micro-level, as strategic engagement with change has been applied to the very workings of the organisation. It creates an agile organisation, able to stay flexible and adapt quickly to changes as they occur.

According to John Kotter’s Change Leadership process

  1. Create Urgency
  2. Form a Powerful Coalition
  3. Create a Vision for the Change
  4. Communicate the Vision
  5. Remove Obstacles
  6. Create Short-Term Wins
  7. Build on the Change
  8. Anchor the Change

To deliver successful change management, organisations need to follow multiple techniques. If an organisation is undergoing some constant changes, then agility needs to be a living, breathing part of the company culture.

Today most of the organisations are in a constant state of flux as they respond to the fast-moving business environment, local and global economies, etc., This change is caused by new technology implementation in an organisation. This means that workplace processes, tactics and strategies must continuously change and evolve for an organisation to stay competitive. A consistent change management process will aid to minimize the impact of your employees and for your organisation.

The change affects your most important asset, in your business or personal life. Losing employees is costly due to the recruitment costs and the time involved getting new employees up to speed.

WHAT IS EFFECTIVE ORGANISATIONAL CHANGE MANAGEMENT?

A change management plan can support and guide your employees in a smooth transition through the change journey. The fact is that approximately 70 per cent of change initiatives fail due to negative attitudes of employees and unproductive management behaviour. Using the services of a professional change management training program could ensure you are moving towards the winning state.

Clearly define the change in your organisation and align it to business goals.

It might seem obvious but many organisations miss this first step. It’s important to have a critical review for your organisation and to ensure that the change will carry your team in the right direction strategically, financially, and ethically. These procedures  can also support you to determine the value of the change in your organisation, which will quantify the effort and inputs you should invest.

Determine the impacts of the change

Once you have a clear view about what you wish to achieve and why, you should then determine the impacts of the change at various levels in your organisation, and then review the effect on each business unit and how it cascades through the organisational structure to the individual. A blueprint will generate with this information for where training and support are needed the most to mitigate the impacts.

Develop a communication strategy

Although all employees in your team should take part in this change journey, and they must communicate about the change too. Determine the most effective means of communication in the group. The communication strategy should include these tactics for how the change will be incrementally communicated, key messages, and mediums you plan to use.

Provide an Effective Training

It is important that your team know that they will receive training, structured or informal, to teach the skills and knowledge required to operate efficiently as the change is rolled out. Training could include this suite such as micro-learning online modules, or a blended learning approach incorporating face-to-face training sessions or on-the-job coaching and mentoring.

 

Implement a support structure

Providing a support structure is essential to guide an employee both emotionally and practically adjust to the change and to build the proficiency of behaviours and the technical skills needed to achieve desired business results. Some changes can result in restructures, To help the people from this situation you could provide counselling services.

Measure the change process

To measure the changes happened in the business a structure should be placed and ensure that continued reinforcement opportunities exist to build proficiencies. You should evaluate your change management plan to determine its effectiveness.

Is your business going through a period of an organisational change? Cavemen Global can assist you in creating breakthroughs with videos, mini- change management workshops, programmes, and organisational training. Cavemen Global remove the obstacles and prevent people from fully realizing their greatness, where the impossible becomes possible.

Once in a decade, some changes will happen in an organisation, and more recently, maybe once a year. But today’s digital workplace changes are taking place on a monthly, weekly, daily and even hourly basis.

So how do organisations are undergoing constant changes, and how they are managing both the long-term strategical challenges and the daily tactical ones?

What is Change Management?

 

Change Management resembles an umbrella because it covers all types of processes implemented to prepare and support organisational change. These range from methodologies applied to resources, business processes and all other operational aspects of a project. Change Management often refers to a change control process when working on a project. That is, the process of changes in scope to a project are formally approved as a change management system.

Change management isn’t merely about projects and organisations. You’re preparing, equipping and supporting team members in your organisation to adopt a change. This leads the project in a successful path. Yes, change can happen anywhere and at any time, change management offers a structured method that can control your project. But it is necessary to manage that change by the strong leader. To execute the best plan and respond to change, first, a clear definition of change management must be understood.

Different Types of Change Management

It is important to categorise change as occurring in three distinct categories. By splitting the large subject into small subsets of change it becomes more manageable.

Individual Change Management: 

People are the main cause of all change. You can change the procedures, but if you don’t address the human in the room, then you’re not going to change anything. To get people to change, you must know your core part. How and when should training be offered to help the organisation with the transition? The tools of this trade are psychological; even neuroscience can help with finding the right angle to steer a person from one behaviour to another.

Organisational Change Management: 

The people in your team are the core target for an effective change, there are larger organisational issues you must address if you want to create real change in a project. To execute this plan first identifying the groups that require change and how they must change. Then create a plan that addresses these components of the project, which includes making everyone aware of the change, leading and the change through some other method like training, coaching that change in congress with the management of the whole project.

Enterprise Change Management:

Taking a setup from the organisational change is to deal with the complete enterprise. You’re more likely to execute change on the micro-level, as strategic engagement with change has been applied to the very workings of the organisation. It creates an agile organisation, able to stay flexible and adapt quickly to changes as they occur.

According to John Kotter’s Change Leadership process

  1. Create Urgency
  2. Form a Powerful Coalition
  3. Create a Vision for the Change
  4. Communicate the Vision
  5. Remove Obstacles
  6. Create Short-Term Wins
  7. Build on the Change
  8. Anchor the Change

To deliver successful change management, organisations need to follow multiple techniques. If an organisation is undergoing some constant changes, then agility needs to be a living, breathing part of the company culture.

The need for better recognition of change management and its value often highlights the list of trends in the benchmarking research. Recently requests for change management have increased in some cases, many practitioners still work with more conscientiousness to make a compelling case for its need.

Learn how effectively executes the change management in your organization by connecting change management directly to the organizational outcomes.  Change Management effectiveness on three critical success factors for organizational projects: Achieving the goal. Staying on a scheduled plan, and staying on budget.

Change Management Versus Outcomes

As a change management practitioner, you know how the work is crucial for delivering project results and outcomes.  If you did the change management well, good things will happen. And you know that when change management is managed poorly, there are negative consequences. Research tells how you effectively work to apply change management, the more successful a project will be.

Process of Change Management

1.      Purpose – Is What you want to reach your goal

2.      Plan – Schedule the plan

3.      Action – implementing the scheduled plan

4.      Feedback – Check the results regarding your recent actions are relative to the goal.

5.      Change – Are the alterations, adjustments to the current scheduled plan and actions, which are found to be necessary as a result of an analysis of the recent feedback.

Repeat this process until you achieve the target

State Your Purpose

The main purpose is to succeed in achieving your target within your allotted time.
Ask and answer the following eight-part SMART goals

1.      What are the targets in general terms?

2.      What are the targets in numerical terms?

3.      What are the targets in specifically worded terms?

4.      What are the targets as a visual image?

5.      What are the abilities you need?

6.      What are the resources you need?

7.      What is the deadline?

8.      Is that the deadline is reasonable?

Change requires a detailed written plan

Every change requires a detailed written plan. In general term, planning refers to analysis, prioritisation, organisation.

The analysis is the act of breaking a large thing into smaller parts. Analysis of the steps that need to be taken.

Prioritisation is the act of arranging things into the correct order. Everything needs to be done in its correct sequence, i.e. socks before shoes.

Organisation means working on the most effective logical sequence of tasks.

THE EMOTIONAL IMPACT OF CHANGE ON THE MIND.

Emotional effects of change show how people's attitude to the situation will affect the change. Some of the emotional factors that cause people to fail in the future.

·         Fear that the change will result in the worst future.

·         Anger, bitterness, and resentment are also impacting your future.

The team should have a good attitude towards the change process.

KEEP YOUR FINGER ON THE FEEDBACK PULSE.

Feedback is a piece of information that relates the results of your recent actions to your target.

Sometimes things will go well. Sometimes do not go well. This fluctuations of good and bad results are what we call, "Feedback results".

It is important to note the feedback results.

1.     What is going well?

2.     What is not going well?

3.     With whom are you comparing yourself to?

Adaptive change

All life on earth is an evolutionary process. Evolution is a process of continual change.

Note that every improvement needs a change: but not all the changes need improvement.

In order to make a change in your management and boost your business please attend our change management training course.

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About Author: Mano Ramakrishnan

Mano helps start-ups to write articles/blogs, build an audience and get more readers. His education and career has helped and shaped his research interests and desire to continue understanding various aspects of his field which includes space inspired or themed products from Online Space Stuffs.  

What is Business Analytics?

An abbreviated to BA is nothing but Business Analytics which is a combination of technical skills, organization processes and applications. The main aim of BA is to get insight into the business based on the statistics and data to drive the planning of the business. It is also used to implement departments from sales to customer service and also to evaluate the wide operations of the organization. Generally, BA solutions use data, quantitative and statistical analysis. To measure the previous performance it uses fact-based data and also guides the business plannings of an organization.  

Business Analytics Domain:

In general, the business analytics domains are the study of four important areas: descriptive analysis, databases, prescriptive analysis, and predictive analysis. In those, descriptive analysis is used to inform about past data, databases are for effective storage purpose, the prescriptive analysis is for optimization and simulation whereas predictive analysis creates models for prediction of future.  

Domains within Business Analytics:

There are many domains are used within the business analytics. In those let us now discuss 10 domains.

The following are the 10 major domains within Business Analytics:

  • Behavioural analytics
  • Financial services analytics
  • Health care analytics
  • Pricing analytics
  • Market Basket Analysis
  • Cohort Analysis
  • Enterprise Optimization
  • Marketing analytics
  • Retail sales analytics
  • Supply Chain Analytics

Behavioural analytics:

Behavioural analytics is termed as one of the recent developments in BA. It discloses the new insights into the customers’ behaviour of mobile applications, the Internet of things, e-commerce platforms, web and online games. The main function of behavioural analytics is to understand the enabling of accurate predictions and to analyse customers actions. It is also used to observe the customers actions in future.

The behavioural analytics utilizes enormous volumes of event data capturing for the raw user during the sessions of customers use game, application, website and also including clicks, navigation path, purchasing decisions, social media interactions, marketing responsiveness and clicks.

Financial services analytics:

The economic services which are produced by the finance industry are known as financial services. It surrounds a wide range of businesses that control finance, including banks, credit unions, insurance companies, consumer-finance company, investment funds, government-sponsored enterprises, accountancy companies, and stock brokerages. The financial services are present in all financially developed cities like Tokyo, New York, London etc.

Health care analytics:

Health care analytics is used to describe activities that can accept data collected outcomes from four areas: pharmaceutical R&D, preferences and patient behaviours, cost data & claims, and clinical data. The main purpose of health care analytics is to examine how clinical care can be developed excessive spending limitation. According to the IT health plan of ONC, the federal agencies will spread the use of electronic health information and health IT to increase the infrastructure of health IT, the transformation of health care delivery, and self-health management.

Pricing analytics:

The process in which the price of services and products can be set by the business is known as pricing. It is considered as one of the parts in the marketing plan. By setting the price it may help in acquiring goods, market condition, manufacturing costs, product quality and competition. Pricing is termed as the important aspect of financial modelling and also in a marketing mix. Pricing can be decided automatic or manual process to sales orders and to purchase which are based on elements such as quantity break, sales campaign, fixed amount, entry price prevailing, and multiple orders combination.

Market Basket Analysis:

In the market basket analysis, we use one term called affinity analysis which is nothing but data analysis that discovers the relationships between activities of individuals and groups. In this process, the retailers pursue to know the customers’ behaviour in the purchase. The information can be further used in up-selling and cross-selling purposes. It also provides the retailer with the required information to know the buyer behaviour in the purchase. It helps in rewriting layout correspondingly, in new buyers capturing, and in the improvement cross-promotional activity.

Cohort Analysis:

It is the subdivision of behavioural analytics which takes information from web application platform and rather than from users. It can break into different groups. Those groups are known as the cohort. It allows seeing the patterns understandably across the user’s lifecycle. The main aim of cohort analysis is to analyze actionable information and to present them. The relevancy of situation is must be there for a company in case of dealing such information. The database consists of many thousands of entries and it made very difficult to achieve actionable data. Whereas the cohort analysis allows to drill & knows the users’ cohort to get the behaviours understandings in the better way.

Enterprise Optimization:

In enterprise optimization the coordination, execution, integration, planning can be done in a systematic process. The main aspect of enterprise optimization is to get the maximum possible profits under the present marketing conditions. Enterprise Optimization is referred to as both art and science. Linear programming is used as the mathematical tool for EO. It also defines five resource types: Sales opportunities, Information, Capital, Production capabilities, and Procurement options.

Marketing analytics:

Marketing analytics is referred to as the exchange relationships management. It also creates relationships with satisfying users. It is also defined as the set of institutions. The processes that come under marketing analytics are: communicating, creating, exchanging, and delivering.  The marketing analysis is mainly responsible for anticipating, identifying, and satisfying customer needs. In the process of bringing the product to the customers includes market targeting, broad market research, and also market segmentation.

Retail sales analytics:

The retail sale is a process by which selling products to customers through multiple methods to get profits. At present, retailers are making a different type of stores, an assortment of optimal product, supporting services, overall market positioning of stores and customer services. The word “retailer” comes from the French word “Tailer” which means to clip, divide, and cut off. It is the process of selling the products to the end-users directly. Retailing has mostly occurred in service establishments.

Supply Chain Analytics:

It is a system of people, information, organizations, resources, and activities involved proceeding a product from supplier to the end-user. The activities of a supply chain are the transformation of raw materials, natural resources and components that are very much helpful in delivering the product to the customer. Supply chain encloses with proper planning and management in almost all activities including procurement, sourcing, logistics management activities, and in conversion. It also enhances the coordination with channel partners.

Conclusion:

Business analytics has appeared as a high capacity based business authorizer both in public and private sectors. It is considered the fastest emerging field. The main advantages of implementing business analytics are improving performance, discovering business opportunities, making important decisions, and predict new trends. Thus the domains in business analytics play an important role in getting the required output.

Author Bio:

Anji Velagana, a graduate in Electronics and Communication Engineering from Jawaharlal Technological University, Kakinada. He is currently working for MindMajix Technologies as a content strategist. Contact me on LinkedIn and Twitter.

A chatbot is a conversational application that interacts with a human user via live chat interface. It is a voice-enabled software that serves as a virtual assistant to a customer seeking support from a brand.

A simple chatbot has a stock of common customer queries and their answers. When a customer poses a question, it churns out the pre-recorded response to that question. More sophisticated chatbots are powered by Artificial Intelligence (AI) and Machine Learning (ML). They use Natural Language Processing (NLP) and Natural Language Understanding (NLU) to device answers to more layered questions specific to the user.

In the banking world, AI banking chatbots are redefining the way business is done. They are replacing traditional banking services with more advanced and personalized services. According to a Gartner report, about 85% of the world’s banks will employ AI to interact with customers by the year 2020. A Juniper survey indicates that chatbots in banking will result in an estimated savings of 8 billion dollars by 2022.   

AI bots save time and increase productivity. With their introduction, banks are witnessing a rise in customer satisfaction and employee productivity. Let us analyze in detail the top 3 ways in which AI conversational apps can enhance customer banking experience.

Personalized services in real time

AI chatbots are quick. They waste no time in answering customer queries. They rely on NLP and NLU to come up with the most appropriate answers to the specific questions of customers. They also converse like humans so users do not experience any difficulty in interacting with them. Whether it is account details-related or loan-related, chatbots provide personalized answers, suggestions and tips to users in real time. They also resolve issues, market the bank’s latest schemes and inform users about changes in banking regulation. This helps the bank build a fantastic relationship with its customers and fosters customer delight and customer retention.

Enhances employee productivity

Because chatbots do most of the menial work related to customer services, they free up the bank’s employees and help them focus on more pressing issues that cannot be handled by AI. Employees find more time to devote to complex decision-making tasks and leave the day-to-day simple customer queries to the bots. Chatbots also manage employees’ personal details like salary, leave, etc., and allow them to access, review and update the data with minimal hassle. This saves plenty of man hours for the bank and enables workers to make better use of their time in office. This in turn translates to improved customer service and more happy customers.

24x7 customer support

Chatbots are available round the clock. Consumers can chat anytime they like and have their queries answered and complaints registered. They don’t need to wait to speak to a human customer care executive on a weekday during business hours. It simplifies communication and makes things very convenient for the user. It saves time, aids prompt action, and prevents small problems from snowballing into larger unmanageable ones. Most importantly, the customer feels valued and cared for, which is vital for building a healthy relationship with the customer.

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