In today’s market environment, it is essential for companies to know how to adapt to change if these establishments intend to retain the competitive edge over their rivals. Organizational development is a process to bring about transformation in the attitudes and culture of the top management. They know how to respond to external or internal change due to this knowledge. Moreover, these corporate enterprises concentrate on executing various strategies that fall under this domain to improve the efficiency and productivity of their workforce. The ability to adapt to change is a constant challenge for businesses since customers in the marketplace are always demanding new and innovative products and services.
Bharti Jogia-Sattar is a popular financial executive and accountant from Los Angeles who has valuable years of experience under her belt when it comes to investing in real estate assets. She currently works for Glenwood Financial Group Inc., a prominent financial company in the region. Her responsibilities include managing the various accounting and financial issues relating the company’s substantial real estate properties and those of the establishment’s clients.
She explains that with the arrival of the information age, companies are under constant pressure to come up with innovative products and services that meets the requirement of their clients. This is the reason why it is essential for these establishments to organizational development strategies to adapt to this change.
When it comes to takes a decision on which business strategy to execute, the top management of such companies has to keep an open mind. The people in charge running these establishments need to ensure that such a policy will act as a catalyst in helping their enterprises achieve their ultimate goals. Moreover, the plan must be in accordance with the mission and vision statement of these corporate enterprises. Furthermore, these executives have to resolve the issues relating to the planning and coordination of such policies to ensure optimum distribution of the establishment’s resources. For this, they need to remember the following tips;
- Streamlining communication
Before executing any organization development program, it is important for the management to improve the existing lines of communication within the enterprise. This goes beyond issuing instructions and receiving feedbacks. Any effective strategy in this direction must change the way the establishment operates and empower its workforce.
- Acknowledging change and its impact
The management of a company needs to first study, analyze and evaluate the impact of any change an organizational development plan will have on existing production process. This change can be either positive or negative. However, carrying out such a scrutiny that appraise future transformations is essential for identifying the right ones for the company.
- Address concerns of the workforce
While executing any organization development plan, the top management of a company must first address any fears and concerns that the workforce may have on its impact. For this, they may have to conduct training programs to dispel such issues and help the employees improve their productivity and efficiency.
Bharti Jogia-Sattar says that keeping in mind the above factors will help the management execute an effective organizational development program within the establishment with success!