Change is an inevitable aspect of our daily life. In business, it cannot be avoided. Corporate change can be said to be a pattern of alterations that happens in the different stages of a business process.
There are various kinds of changes that occurs in an organization, this changes may include the bringing in new kinds of products to the organization ,maybe a new type of technology or application, it could also be new types of strategies for implementation, acquisitions and mergers, employee downsizing and so on, the list is endless. There are changes that have some adverse effects on the entire organization than some other changes, it is pertinent to not at this point that any form of change is set in motion by some particular kind of factors; these factors can come as external or internal.
Internal Factors
Internal factors are those factors that stem from within the company, such factors may include: Drop in company profitability, very weak or poorly set out company policies that are made, bad leadership style, poor management structure, low staff performance and so on.
External Factors
External factors also can cause changes in organizations, such external factors may include, the state of the economy of the nation, tight competition, unexpected change in the market trend, unexpected change in customers taste. Etc.
TYPICAL EXAMPLE OF CORPORATE CHANGE CAUSED BY EXTERNAL FACTORS.
INTRODUCTION
Change is an inevitable aspect of our daily life. In business, it cannot be avoided. Corporate change can be said to be a pattern of alterations that happens in the different stages of a business process.
There are various kinds of changes that occurs in an organization, this changes may include the bringing in new kinds of products to the organization ,maybe a new type of technology or application, it could also be new types of strategies for implementation, acquisitions and mergers, employee downsizing and so on, the list is endless. There are changes that have some adverse effects on the entire organization than some other changes, it is pertinent to not at this point that any form of change is set in motion by some particular kind of factors; these factors can come as external or internal.
Internal Factors
Internal factors are those factors that stem from within the company, such factors may include: Drop in company profitability, very weak or poorly set out company policies that are made, bad leadership style, poor management structure, low staff performance and so on.
External Factors
External factors also can cause changes in organizations, such external factors may include, the state of the economy of the nation, tight competition, unexpected change in the market trend, unexpected change in customers taste. Etc.
TYPICAL EXAMPLE OF CORPORATE CHANGE CAUSED BY EXTERNAL FACTORS.
A correct example of a corporate change affected by external factors I was opportuned to be involved was Telpet telecommunication.. The company provides telecommunication services .My branch office was located in the Niger delta region of Nigeria, the oil rich region of Nigeria
Our clients range from various companies in the oil and gas sector. Aviation, banking and finance. Etc. They need the mobile telecommunication service and make use of the services all the time.
With the recession hitting the country and its economy, coupled with the drastic reduction in the price of crude oil in the global market, Nigeria as a nation was greatly affected, as oil is the major stay of the nation’s economy. Consequently, most of the oil and gas companies that were heavy subscribers of the Telpet network had to reduce their monthly subscription and patronage to the Telpet network, as a result of this many businesses also ha to re-strategize due to the external change that took place in the country.
Companies had no other option than to trim their expenditures on some services they were involved in previously; most servicing oil companies were greatly affected, And therefore reducing the amount money allocated to phone calls.
As more clients reduced the high level of patronage as a result of the economic recession in the country, in Telpet there came about the need to set up a sudden intervention that will serve as a response to these change. There was withdrawal in some benefits of some senior level officers in the company and employee downsizing also was enacted.
Ask me more question about this if you want to find out and learn more.
Joseph Etukudoh