Question

Briefly define, describe and discuss the following concepts:

1-  The four models for the varieties of change.

2- The SWOT analysis.

Answer 1

Q1) Below are the four models of change management -

1. ADKAR model - ADKAR refers to Awareness, Desire, Knoweldge, Ability, Reinforcement. It is goal focused and starts with awareness to business need followed by desire to support the change; then mapping the skills and behaviors followed by implementing the change on a daily basis. The last step is sustaining the change over the long term.

2. Lewin's model -Lewin's model comprises three stages of change - Unfreeze, Change and Freeze.

Unfreeze stage is making employees aware of the change that the firm needs to go through;

Change stage is the stage when change is implemented.

Freeze stage is stabilization of the change.

3. Kotter's 8-step model - This model involves 8 steps - Create sense of urgency for the change, Build guiding coalition, Form strategic vision and initiatives,Enlist Volunteer army,Enable action by removing barriers, Generate short term wins,Sustain acceleration \and Institute the change.

4. Kubler-Ross five stage model - This model highlights change in a time dependent stage model which includes - Denial as initial stage followed by anger among employees followed by depression which is the peak of negativity followed by bargaining to get the employees slowly agree to the change and finally acceptance where employees accept the change and move forward.

Q2) SWOT analysis is a strategic management tool that helps the firm to evaluate its competitive position based on its -

Internal factors which include Strengths and Weaknesses

External factors which include Opportunities and Threats.

Strengths are the areas of excellence of the organization and how it can use the same to improve and maintain its competitive position in the market. Examples include loyal customer base, strong brand etc.

Weaknesses are the areas where the firm is lagging and requires improvement to ensure it stays competitive in the market. Examples include lack of capital, credit risks from customers etc.

Opportunities are the favorable external market factors that the firm can use to its competitive advantage. These include exploring new markets and customers, getting tax rebates from governments on innovations etc.

Threats are the unfavorable external factors that threat or harm the organization. These include rising costs, increasing competition, entry of new entrants in the market, political turmoil, economic downfalls etc.

A firm needs to continuously evaluate its position in the market through SWOT analysis where it can turn its weaknesses into strengths, it can shield itself from the threats, grab the opportunities and showcase its strengths to improve its business standing.