Managing change by managing risk Essay Example | Topics and Well Written Essays - 2750 words

Managing change by managing risk - Essay Example The essay starts with the definition of change and ends with some recommendations on how to ensure successful change without risks. Keywords: change, risks, organisations, individuals, manage Table of Contents Page Executive summary 2 Introduction 4 What is change? 6 Why change is necessary? 8 Why risks are associated with change? 9 How to ensure successful change without risks? 10 Conclusion 11 References 14 Introduction In the advancement of almost everything today, change has become the fundamental issue in order to integrate better understanding on how situations have been created and on how to respond to them. In addition, how to cope with change in order to optimise productivity is another major consideration not just among individuals hooked on business, but every organisation trying to make sure of a continuing operation, competitive advantage and a remarkable market share through strategies for adapting, transforming and succeeding in the new business reality (Schoemer, 2009 ). Nokia for instance decides to jump off a burning platform right before it is too late for them to explore areas of possibilities where everybody seems to be moving around and embracing the need for change. Nokia has finally decided to initiate changes in its sales and marketing activities, which include the possibility of interacting with potential customers with its new Windows phones (Nokia Research Center, 2012, Reisinger, 2012). Today, almost everything around is changing and in the business environment this needs remarkable considerations. Let us cite the case of communication and technology advancement and the influence of the media on the business arena that has just headed to an upward spiral. As observed, it would now be much easier among companies to promote latest developed product offerings because of the increasing users of fast-speed internet connections having accessibility from almost everywhere, an event of the human history that could be ascribed to advanced mob ile gadgets that are able to surf the World Wide Web from roughly anywhere. Thus, it is clear that the information technology and communication system have altogether risen to a new level of applications. What is most important about these newly formed applications is the thought that individuals and even organisations are learning to rely on them on a daily basis. For instance, bank transactions are nowadays integrated with the fast-speed internet connections in order to serve more than the desired number of customers from across the world at a fast pace, which must be a move way much beyond compared from the past. With the advancement of technology that is integrated with information and communication system, organisations are finding the comfort of using these advancements for their advantage such as increased profitability. In fact, advancement strategies are proven to secure future profitability (Von Krogh et al., 2000, p.72). People from the past were bombarded with ideas abou t globalisation, but the actual face of it today is tantamount to creating one big market over the internet. This is a remarkable change in the century that everyone particularly those who are in the business realm have observed and considered both risky and an opportunity at the same time. These changes have indeed triggered corresponding opportunities to embrace change, but there are also some challenges and even risks involved. The business is faced with various