Please point out the steps for initiating a strategic change.
Please point out the steps for initiating a strategic change.
Kanishka Mar. 21, 2018
For initiating strategic change, three steps can be identified as under:
(a) Recognize the need for change: This is the first step to diagnose which parts of the present corporate culture are strategy supportive and which are not.
(b) Create a shared vision to manage change: Objectives and vision of individuals and organization should coincide at this step.
(c) Institutionalise the change: This is an action stage which requires implementation of changed strategy.
