Change Management and Innovation: A Case of Safaricom PLC and Yahoo Inc. Limited
DOI:
https://doi.org/10.53819/81018102t30145Abstract
For organizations operating in today’s ever-changing business environment, change is not only inevitable and unstoppable, but it is also one of the most critical success factors for any organization. Several factors influence change within organizations. These include fierce competition, innovation, unprecedented global crises, changing consumer trends, globalization, technological advancements, changes in internal and external laws and policies, and operational changes within the organization, among others. Faced with the urgency of change in their daily operations, organizations that can’t adapt and seize growth opportunities are likely to be surpassed by agile competitors, hence they may incur losses or even fall completely if they cannot keep up with the competition. In light of this, organizational change can bring both negative and positive impacts on the performance of organizations, hence the need to manage it effectively. Managing change effectively is still a big challenge for many organizations today. For this reason, preparing for change effectively should be a top priority for all organizational managers as it plays a critical role in the performance of an organization. It can either elevate it or lead it to its downfall. This paper, therefore, undertakes a critical evaluation of the change management concept, including an understanding of what the concept entails in terms of its definition, and the core principles and models that constitute the subject matter and its relation to innovation. The paper further explores the success factors for change management as well as the critical factors that may contribute to its poor implementation. Lastly, drawing from both global and local examples, the paper analyzes some real-life success and failure stories of enterprises that attempted the change management process.
Keywords: Change Management, Innovation, Safaricom PLC, Yahoo Inc.
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