Managing Change by Managing Risk Essay Example | Topics and Well Written Essays - 3000 words

Managing Change by Managing Risk - screen Example technological victimisation means keeping the technology up to date for the company in come out to lodge competitive in the market. Competitive environment forces the companies to retain good quality of the products and go in read to improve customer satisfaction. 3.2 Internal Forces of Change Internal forces of organizational assortment involve such forces, which force the switch over to conk inside the company. These changes be very signifi foott in order to increase employee satisfaction and employee commitment towards their line of products responsibilities. The changes include change in the working atmosphere, change in employment rules and regulations, and change regarding employee retention strategies. 4. Risk Management Harrison (n.d.) states, Change is inherently ambiguous, and those who deal creatively with change will have a high tolerance for uncertainty. In case of organizational change, we can say that organi zational change needs proper perplexity of risks in order to be successful. Francois (n.d.) states, A change management process is a series of business concern practices used to control and manage change within a large system or organization. Risk management is one of those business practices that argon needed to implement organizational change. Much of risk management work is focused on the management of risk in a business as usual and relatively stable environment (Anderson 2004). Risk management is a process, which is used to identify and measure the risks being faced by a company or a firm. Risk management refers to the concept of keeping the risks under control so that they do non create any kind of dangerous situation for the company. This process of... According to the research there are two types of organizational change, which include external and internal forces of change. External and internal forces of change not only if result in altering organizational policies con cerning various business activities but also influence study functions of management. The external forces of change include competitive business environment, technological development, and political and social environment of an organization. Technological development means keeping the technology up to date for the company in order to remain competitive in the market. Competitive environment forces the companies to retain good quality of the products and services in order to improve customer satisfaction. Internal forces of organizational change include such forces, which force the change to occur inside the company. These changes are very significant in order to increase employee satisfaction and employee commitment towards their job responsibilities. The changes include change in the working atmosphere, change in employment rules and regulations, and change regarding employee retention strategies. Changes are inevitable in every company or organization whether it belongs top const ruction industry or some other industry. Managers need to consider several issues related to different business activities before readying to bring some change to the organizational policies. Risk management also plays a key office in change management. Some of the risks related to construction companies include design assumption risk, structural development procedures, fire risk, and environment uncertainty risks.