It involves specifying the objective of the business venture or project and

It involves specifying the objective of the business

This preview shows page 13 - 15 out of 26 pages.

venture. It involves specifying the objective of the business venture or project and identifying the internal and external factors that are favorable and unfavorable to achieve that objective. The
Image of page 13
technique is credited to Albert Humphrey , who led a convention at Stanford University in the 60s & 70s using data from Fortune 500 companies. Setting the objective should be done after the SWOT analysis has been performed. This would allow achievable goals or objectives to be set for the organization. 1. S trengths: characteristics of the business, or project team that give it an advantage over others 2. W eaknesses (or Limitations): are characteristics that place the team at a disadvantage relative to others 3. O pportunities: external chances to improve performance (e.g. make greater profits) in the environment 4. T hreats: external elements in the environment that could cause trouble for the business or project LEWIN'S FREEZE PHASES In the early 20th century, psychologist Kurt Lewin identified three stages of change that are still the basis of many approaches today. Unfreeze - A basic tendency of people is to seek a context in which they have relative safety and feel a sense of control . In establishing themselves, they attach their sense of identity to their environment. This creates a comfortable stasis from which any alternatives, even those which may offer significant benefit, will cause discomfort. Talking about the future thus is seldom enough to move them from this 'frozen' state and significant effort may be required to 'unfreeze' them and get them moving. This usually requires Push methods to get them moving, after which Pull methods can be used to keep them going. The term 'change ready' is often used to describe people who are unfrozen and ready to take the next step . Some people come ready for change whilst others take a long time to let go of their comfortable current realities. Transition - A key part of Lewin's model is the notion that change, even at the psychological level, is a journey rather than a simple step. This journey may not be that simple and the person may need to go through several stages of misunderstanding before they get to the other side. A classic trap in change is for the leaders to spend months on their own personal journeys and then expect everyone else to cross the chasm in a single bound. Transitioning thus requires time . Leadership is often important and when whole organizations change, the one-eyed person may be king. Some form of coaching, counseling or other psychological support will often be very helpful also. Although transition may be hard for individual, often the hardest part is starting. Even when a person is unfrozen and ready for change, that first step can be very scary. People become comfortable in temporary situations where they are not accountable for the hazards of normal work and where talking about change may be substituted for real action.
Image of page 14
Image of page 15

You've reached the end of your free preview.

Want to read all 26 pages?

  • Winter '12
  • None
  • Management, scientific management

  • Left Quote Icon

    Student Picture

  • Left Quote Icon

    Student Picture

  • Left Quote Icon

    Student Picture