Thursday, May 19, 2022

Bill Smith Royal Cup Coffee: change management, why is it important?

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Change management has become essential for any business that wants to succeed in today’s ever-changing environment. The business environment is dynamic: technological advancements, shifts in customer preferences, new market laws are common and organizations face significant global challenges.

Companies unable to respond and seize growth opportunities are likely to be overtaken by more dynamic competitors and may even go bankrupt. As a result, one of the main concerns for business leaders and consultants like Bill Smith is preparing for change and making the necessary changes correctly.

What is change management?

Change management is a systematic strategy to manage the metamorphosis of business goals, core values, procedures or technologies. Any attempt at organizational change is aimed at successfully implementing strategies and methods to effect change and help people accept and adapt to it. Change management and communication teams are now critical success factors for many companies. Hiring consultancies such as Double Iron Consulting led by the former Royal Cup Coffee CEO Bill Smith can help organizations effectively manage the change process.

Types of Organizational Change

There are three types of changes that organizations undergo.

developmental change

Developmental change involves an organization improving what it is currently doing, such as improving employee skills, improving work processes, or setting new performance standards. Examples of developmental change include training employees in communication, conflict resolution or team building activities to increase synergy.

transitional change

These are changes that take an organization to a new state to solve certain problems. Transition change results in the replacement of what already exists. For transitional change to take place, those involved need to let go of the old way of doing things and embrace the new approach. Examples of transitional changes are process automation, mergers, acquisitions.

Transformational change

These changes are transforming the way a company operates, including its core values, corporate culture and vision. In transformational change, the future is not clearly known in detail and the ultimate state is the result of a process of trial and error. Business leaders and managers must invent the future state rather than inhabit it, and this requires a great effort to change mindsets and behaviors.

Why is good change management important?

Change within an organization is a critical part of a company’s overall success. Any organization that wants to last for a long time has to anticipate different dynamics in the work environment. These dynamics require the company to change with the times to survive. When an organization is insufficiently prepared to change, it can lose its competitive advantage or succumb to a total collapse of the company.

Change management helps every level of an organization succeed when faced with events that require minor or major changes. As the change is implemented, well-researched change management ensures that everyone understands their role and works in the new scheme. Essentially, change management allows a company to be viable and adapt to changing market trends and dynamics.

Challenges organizations face when managing change

Whether small or large, all changes can benefit from a well-developed plan. Change does not usually happen by itself for organizations, and without good change management, change leaders are likely to face obstacles and waste of resources. These are the common challenges organizations face when managing change.

Lack of clear definition of change goals

The most targeted organizational changes improve current processes, product offerings or corporate culture. Other goals include deploying new technology, boosting the culture of innovation or switching to a new customer base. If the change management goal is not clearly defined, the process is likely to fail to meet expectations.

Lack of leadership in change

Everything stands or falls with leadership. Leadership has a significant effect on employee engagement, and if the leaders are barely convinced of the need to change, others may not keep up. Leaders motivate their followers to embrace transitions and make it easy to implement change plans. Bill Smith helps an organization with leadership development that is crucial for good change management.

Lack of resources

Change costs resources and it is critical for organizational leaders to identify the resources needed to implement change from start to finish. These resources can be monetary or non-monetary.

A change process with the right resources is likely to be successful. While it can be difficult to identify all the resources needed, using historical data and information from other organizations can help estimate. Hiring experienced consultants like Bill Smith can also help in this endeavor.

Lack of communication and documentation strategy

Communication is a crucial lever in any successful change process. Every stakeholder needs to get the right information in time. They also need a platform to provide feedback to inform the change management process.

Changes must also be documented and the documents must be easily accessible and shareable with relevant stakeholders. Poor communication and documentation can be detrimental to change management.

About Bill Smith and Double Iron Consulting

Prior to the founding of the consultancy Double Iron Consulting, Bill Smith former CEO of Royal Cup Coffee, a family business specialized in roasting and distributing coffee. Founded in 1896 by Henry T. Batterton, the company has made a name for itself serving fresh and flavorful coffee. In 1950, the company changed ownership of the Batterton estate to William E. Smith and became known as Royal Cup Coffee.

The Smith family still owns the company, with Bill Smith being the last CEO of Smith’s household. Today, the company is run by a non-family team and is a major importer, roaster and distributor of premium coffee. Bill Smith now runs Double Iron Consulting to help companies implement change and strategy. With the success story of Royal Cup Coffee, Bill Smith is undoubtedly a safe pair of hands.

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