Business Development and Change Management

  Go to the Business Development and Change Management Assessment

You have a process for selecting change projects
 
Once companies appreciate the need for change and have experienced the benefits of introducing more innovative products, reorganising manufacturing operations, increasing routes to market; managers must then find a way of deciding where to invest their time, finite resources and cash for the advantage of stakeholders
Key Issues
·         Most businesses can identify more change projects than they are able to resource or managers can sensibly cope with
·         Establishing which change projects are given priority is a vital part of the business planning process, because this determines the funds required
·         Senior managers should undertake a strategic business analysis considering:
o      The position of the business in the industry and its ability to compete
o      A review of the customer base and ways of securing future business
o      Activities across the industry, examining long term trends
o      Global demand and reasons for expansion or consolidation
o      Competitor analysis and their expected course of action
o      Changes in legislation and customer attitudes
o      Possible ‘change the game’ strategies that transforms your industry
·         Based on this analysis the management team should:
o      Define the strategic role of the business
o      Analyse the characteristics of the market
o      Undertake a strengths and weaknesses analysis for the business
o      Identify and quantify the key challenges facing the business
o      Establish the main objectives for the business and its management team
o      Identify new products and technologies sought by customers
o      Summarise the critical actions needed to sustain the business
·         Essential actions should be allocated to senior managers to develop time-based, costed project proposals, assessing the opportunities, benefits and risks
·         Proposals should be carefully evaluated by the senior management team to decide which projects will provide the greatest returns for the business within the constraints on finances, people’s availability, and time to implement
·         These must be included in the business plan for board level approval
·         But remember:
o              Extensive communication and thorough training are essential to success
o              People involved in day to day operations need time to assimilate change
Factors for Success      
Factors to  Avoid
1.     Change projects address the most vital problems facing the business
2.     Priority projects must be resourced and owned by a senior manager
3.     Projects should be reviewed by the management team on a regular basis
1.     Starting too many projects
2.     Expecting vital change projects to be implemented without resources
3.     Omitting change projects from the business plan to secure funding
4.     Introducing projects without planning
Who does this apply to?
Senior management teams and their management teams
Realisable Benefits
Sustainable business that understands how to compete and satisfy its customer

Guides:

Business planningBusiness planning

Business planning

The business planThe business plan

The business plan

Selecting future marketsSelecting future markets

Selecting future markets

Drivers for changeDrivers for change

Drivers for change

Collecting informationCollecting information

Collecting information

Sales processSales process

Sales process

Selecting change projectsSelecting change projects

Selecting change projects

Managing projectsManaging projects

Managing projects

Controlling and reviewing projectsControlling and reviewing projects

Controlling and reviewing projects