KNOW WHAT CHANGE IS

You are here ... to enable the world to live more amply, with greater vision, with a finer spirit of hope and achievement. You are here to enrich the world. —Woodrow Wilson

When making change, you must consider the right place, the right time, and the right people. Understanding the scale of the change you are about to undertake will relieve some of the pressure and frustration later on and ensure that, if it is engineered correctly, you will achieve change successfully. Managing change and the various risks along the way is essential.

The two key parts of making change are to start and to finish. Only when you have finished one change challenge idea should you move to the next one. Following this simple process will give you limitless possibilities in making changes easily in your business.

If you follow a step-by-step your plan, you will achieve your change idea and finish what you start, taking small steps each time. Our daily lives are full of activities, whether at work or at home, so be alert to becoming too preoccupied with personal and professional issues. You may choose to seek out motivating articles and business magazines that will provide possible solutions, but they take us only part of the way, and sometimes we are left guessing as to what is next.

Most of the change that is experienced in any size of business is external to the business. Most businesses react to change instead of driving it. The economy, consumers, technology, and legislation have profound impacts on why businesses have to make changes. Over the past decade the mining industry has developed technologies to meet the demand to dig out minerals at a faster and more economical rate, increasing the sophistication of not only the computers but the trucks and rigging. Laws and regulations that govern the safety and health of workers in this type of environment multiply as do the laws and regulations governing the financial services industry to protect consumers and their investments.

A smart business leader is always looking at how to sustain, grow, and keep the business moving forward. Interruptions to business momentum, such as mismanagement or failure to meet the market on products and services, are the biggest impediments to these goals.

Clearly, fundamental rules of application govern any visionary change you may have. Working as part of a team in large projects, I noticed that there were just two rules: The first is that you should always go for quality services and products, not cheaper ones. The second is that, to keep the wheels turning, the vision for your business must be supported by a long-term strategy and a talented management team that can sustain change, drive innovation, accept risk, and meet business margins.

Businesses that grow are also subject to the consequences of environmental changes, so someone must recognise that something different is needed or a gap needs to be filled to improve the dynamics of the business. Alternatively, the product that rests in a niche market is important. In either case, the need for the business to grow may be one that the current business approach cannot accommodate or achieve.

The Macquarie Dictionary defines the verb "to change" as "to make a difference, alter in condition, appearance."

Who is affected by change?

People are affected by change in a variety of ways. They want to see that the difference will be, in fact, a difference, that when they have altered something, it will stay altered and make a difference. The effects are dependent on the individual's level of development and experiences in business and on his or her preparedness to make changes.

In The 100 Absolutely Unbreakable Laws of Business Success, Brian Tracy, says, "Change is inevitable. Change is not only inevitable it is also unavoidable."

The most important of the changes to be made is the "who," the stakeholders in this change process, the employees who are affected by or who affect the company's actions. Internal and external to your business, stakeholders have an interest in something your company is doing or planning to do. For example, businesses' stakeholders can include staff, customers, and third-party service providers, legislators, regulators, community leaders, investors, customers, consumers, suppliers, and employees, to name a few.

All stakeholders are important, but your and their priorities and focus may change over time based on the issue and factors like influence, knowledge, credibility, and legitimacy in relation to the changes to be made.

Stakeholder engagement occurs when your company initiates open, two-way discussions in order to understand and find solutions to issues of mutual concern. This engagement happens when your company wants to consider the views and involvement of an individual or a group of employees when making and implementing a business decision. This is not the same thing as "delivering a message" or convincing a group to agree with you. The simple action of involving your stakeholders in the change in order to include their needs and expectations will establish, improve, and sustain the value of what they can expect from you and your business services. Conducting surveys of your customers as to what they like and don't like about your product and services often is the starting point. The feedback can lead to some significant changes as to what new product or service you deliver going forward.

As consumers we can all relate to Ernst & Young's Global Consumer Banking Survey 2012. The survey was undertaken to determine how to increase loyalty and satisfaction among the company's customers. While overall satisfaction remained high, trust levels remained low globally, and customers were demanding more customised attention, products, and services from their banks.

Stakeholders may also be any group in your business that is charged with planning, managing, monitoring, and executing a project. Whether the change you are proposing is planning for the long term, improved marketing, a change in your sales approach, or developing a position in the marketplace, it is important to involve your stakeholders before and during the process to achieve better overall outcomes.

How do we change?

Humans being what they are, we are subject to habits. When we acknowledge what we are sensing, what we feel, and then act accordingly, it is because of what we have learned.

If you sense that something is not right in your business, you're probably right, even when what is precisely wrong is not always clear. All you sense is that you need to bring about...