We use cookies to create the best experience for you. Keep on browsing if you are OK with that, or find out how to manage cookies.
Nobody downloaded yet

Effective management of change - Essay Example

Comments (0)
Summary
It boasts of operations worldwide in over 30 countries having more than 200 stores and in the local market i.e. UK having over 600 stores. This is a huge achievement considering the ever…
Download full paper
GRAB THE BEST PAPER
Effective management of change
Read TextPreview

Extract of sample
Effective management of change

Download file to see previous pages... The company has had a substantial share of fortunes since its establishment as a partnership between Thomas Spencer and Michael Marks in 1884 (Kirk & Tyson 1997; Rees 1969; Tse 1985). It has come to have a workforce of well over 60000 globally; a feat that is only achievable when there has been good and consistent expansion programmes in place (Beaver 1999, pp. 325-334). The company grew steadily for a century after which turbulent times emerged that saw its market share drop drastically in the 1990s and subsequent reduction in profitability.
The world had become a more competitive market place and Marks and Spencer had lagged in this realisation. The situation in the later quarter of the 1990s saw the company running out of vigour in regards to its turnover, profitability and market dominance. In the turn of the century the company announced the lowest profit in its history and the lowest basic earnings per share i.e. 145 million pounds pre tax profit and zero basic earnings per share (Bevan 2001).
With the drastic fall in profits and the low market confidence culminating into huge shedding of its share price, the management had to have a plan to steer the once market giant back to its long lost glory (Bevan 2001). Many changes in the management had to be initiated and this was no doubt a daunting task for the management and the staff alike. As it is well known that it takes quite a short time and less effort to destroy or lead to decline but to rise again to the top takes a great deal more effort, resources and time. These are the factors that the Marks and Spencer management has to put in mind in formulating the turn around strategy and planning on its implementation.
Marks and Spencer in the early 2000 made a big change in its brand aiming at having a new corporate image. The new changes were to be spearheaded by Luc Vandevelde as the new chairman aged 48 years. The starting point for Vandevelde was ...Download file to see next pagesRead More
Comments (0)
Click to create a comment or rate a document
CHECK THESE SAMPLES - THEY ALSO FIT YOUR TOPIC
Approaches to Effective Change Management
Change management is a multifaceted aspect of organizations that involves identifying and inspiring the adoption of new values, approaches, standards and conduct in business, which are significant for performance improvement and flexibility that allows positive change to take place.
11 Pages(2750 words)Essay
Leadership and Change (Love)
This study will focus on how mangers can bring effective change in the organization. The study will also analyze the steps for effective management of change. In addition, the study will also address Kotter 8 steps of management. Kotter’s 8-step Change Model According to Dubrin (2008, p 282), effective change management calls for commitment from managers and other executives in the organization.
3 Pages(750 words)Essay
Review and Critically Evaluate the Relevance and Contribution of HR to Organisational Success and Effective Change Management
Since human capital play a crucial role in an organisation’s market competitiveness, large firms possess separate division for managing their human resources. Human resource management (HRM or simply HR) refers to all activities relating to the management of an organisation’s human capital.
8 Pages(2000 words)Essay
Effective style of leadership, Ethical Leadership,Ability to create a diverse team is a priority for Leaders to develop, Managing Change in Business,Personal Style of Managers for Better Organisations Performance and Management
Write 5 Essays (As Online Blogs Each 750 Words) According To Given Themes Blog 1: Ability to create a diverse team is a priority for Leaders to develop This blog has been written with the purpose to explore the importance for leaders’ or managers’ efficiency in creating diverse teams comprising from people different cultures, nationalities and ethnic backgrounds so as to reward greater efficiency to the organisation on the whole.
16 Pages(4000 words)Essay
Change Management Master Essay
Change in an organization though inevitable, it may create or be met with resistance from the workers thus making it hard for the organization to adapt easily to environmental changes. Changes in an organization may be very costly and thus there is need for managers to formulate ways to mitigate such cost to ensure that the profitability of the organization is not tampered with.
11 Pages(2750 words)Essay
Effective Management
According to Pfeffer and Veiga(1999), common sense and common knowledge are different. Knowing things is different from doing things. Being able to analyze a case, identify a problem, suggest a correct solution makes a manager more effective. Out of all the characteristics that make an effective manager, the most important ones are the personal qualities, interpersonal attributes and group skills.
4 Pages(1000 words)Essay
Change Management
is further mentioned that business has also become a unified, global filed as trade barriers fall, communication becomes faster and cheaper and consumers tastes in everything. Saka (2003) mentioned that there is evidence to suggest that the universal, prescriptive model of
14 Pages(3500 words)Essay
Change Management
Change forces refer to the forces which drive or causes change to take place. These forces include technological advancements, social trends, economic shocks, world politics,
1 Pages(250 words)Essay
Management change
It has to be said that the single global entity promotes the concept of a connected global marketplace, where markets around the world are easily accessible to the buyers and sellers through a virtual medium. It has
4 Pages(1000 words)Essay
Management of change (Reflection)
Change presents risks, opportunities and response to change varies. The purpose of this simulation was to help develop competencies in handling change. The aim of this paper is a reflection of my experience. In
4 Pages(1000 words)Essay
Let us find you another Essay on topic Effective management of change for FREE!
Contact us:
+16312120006
Contact Us Now
FREE Mobile Apps:
  • About StudentShare
  • Testimonials
  • FAQ
  • Blog
  • Free Essays
  • New Essays
  • Essays
  • The Newest Essay Topics
  • Index samples by all dates
Join us:
Contact Us