Strategy Map Analysis - Free Paper Sample

Introduction

Organizations always try their best to initiate change that aligns with the corporate vision. It becomes part of the overall organizational plan and strategy to achieve the set goals and objectives. The process of introducing change could be tedious and treacherous, but the end result keeps the organization pushing (Chappell et al., 2016). The vision of change in an organization plays a huge role in shaping a firm’s path towards its destiny. The firm under consideration for the article is a money transfer company operating across different countries. The company has been operating majorly through physical offices to accomplish the transfers. However, the firm intends to initiate a change that will introduce online and mobile money transfers. The company believes that such a change in business strategy will help them gain much more in the market.

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Improvements

The firm’s intention to join the online market is well informed. Successful implementation of this change approach should work well in ensuring that they improve their revenues. The world has embraced technology to a great extent, and it is some space that every business should be seeking to have a hand (Zhu et al., 2014). Through online and mobile services, users may not need to walk into the firm’s physical business locations to enjoy the services. Therefore, the firm is likely to gain more clients in the process. At the end of it all, the business shall improve financial performance as a result of the added advantage of more customers subscribing to its services.

Customers are always looking for value proposition whenever they purchase a product or subscribe to a service. If the promised value is not delivered, they are likely to bolt out of business. There are a few factors that define value for customers in matters of service. Accountability, convenience, integrity, ease of use, effectiveness, and availability are core values that the firm must incorporate into the change initiative. Further, the business must deliver the information effortlessly to the targeted consumers. Service promotion and advertising must deliver the message effectively, and consumers need to understand how to subscribe to the service without a struggle. The business must also communicate to consumers how their new service improves what the customers are already using. The positive effect is what will always lure consumers to the newest technology and provision by businesses (Chappell et al., 2016). If customers can relate to the narrative and join wagon, the intended financial results shall be duly achieved.

Internal Business Processes

Internal business processes have significant implications on how change initiatives turn out to be. Employees are the custodians of organizational culture, and any change initiative brings some sort of disruption to organizational culture. Therefore, if employees are committed to the status quo, it may be difficult to initiate change. The firm needs to change its structures to incorporate a position and department for managing the online systems. Even though the online system should run simultaneously with the current system, it needs special attention to assist it to grow to the level that the offline system has developed. Alteration of the management structure should be minimal, causing small alterations. The introducti9on should be done within the technology department.

The organization needs to increase capital and human resource capacity to ensure the new function does not outstretch its internal processes. The head of the online and mobile money transfer system should have a team working with him/her for the best results to be realized. Further, these people come into a team that has already been functioning and delivering the said services in a different business approach. Therefore, it is just a process of broadening the team and introducing new initiatives for more market efficacy. All employees should be taken through training and development sessions in times of change (Zhu et al., 2014). The session should be used to teach the importance of diversifying services, functioning in a more diverse team, and accepting change within the ranks of the organization. This should help the business integrate the change initiative as part of the firm’s culture.

Conclusion

Organizational change is not an easy process; it requires commitment and effort from different quarters of the firm for practical success. The firm must be ready to invest financially, and also commit human resources to the process. In the planning stage, the management must realize that change initiatives face resistance from the affected stakeholders, and this may be a considerable obstacle when implementing the change initiative (Chappell et al., 2016). Management must provide guidance and ensure that the most vocal and active of all resisting stakeholders are incorporated in the planning phase. These people are converted into the most ardent supporters and campaigners of the change initiative. As such, it becomes easy to bring everyone on board as partakers and supporters of change. It also becomes easy for the management to inculcate the change as part of the firm’s culture.

References

Chappell, S., Pescud, M., Waterworth, P., Shilton, T., Roche, D., & Ledger, M. et al. (2016). Exploring the process of implementing healthy workplace initiatives. Journal of Occupational and Environmental Medicine, 58(10), e341-e348. https://doi.org/10.1097/jom.0000000000000854

Zhu, K., Kraemer, K., & Dedrick, J. (2014). Information technology payoff in e-business environments: an international perspective on value creation of e-business in the financial services industry. Journal of Management Information Systems, 21(1), 17-54.
https://doi.org/10.1080/07421222.2004.11045797.