The Tribune

By IAN FERGUSON

WE have often heard that the only thing constant in life is CHANGE. While this has proven true in every arena of our personal and professional lives, we still seem ill-prepared whenever it is upon us. The Bahamas has recently undergone political change. Many, perhaps, are still grappling with the shift in administration, and with a shift in administration comes the inevitable advancement of new mandates, initiatives, plans and ideas.

Truth is, our world has changed and is changing, and in this age of globalisation and economic instability, we must do all we can as a business community to remain on the cutting edge in readiness for every ball tossed in our direction.

Change management is an approach to transitioning individuals, teams, and organisations from where they are currently to where you desire to be. It is an organisational process intended to assist everyone involved in a process, so that they accept and operate successfully in that dynamic environment.

Organisational change is a structured approach an enterprise takes to ensure changes are smoothly and successfully implemented, and that the lasting benefits of change are achieved.

In more recent times, the business environment has faced rapid social and fiscal change like never before. The constant innovation in technology results in a constantly evolving business environment. The new-age marketing phenomenon of social media and mobile adaptability has revolutionised business, and the effect of this is an ever-increasing need for change management.

The expansion in technology also has a secondary effect of increasing the availability and consumption of information. Businesses, therefore are, forced to contend with a more advanced and informed consumer who will Google a product’s value, price points, ingredients in real time. With the business environment experiencing so much change, organisations must learn to become comfortable with change as well. Therefore, the ability to manage and adapt to organisational change is an essential ability required in the workplace today.

There are any number of changes proposed that will affect our nation and economy - issues ranging from Immigration, citizenship, gambling and tax reform. The business community will serve itself well by beginning to anticipate the change that lies in wait, then implementing a change management process. A standard template for change management is provided below:

Phase 1: Preparing for change. This requires the principals of the organisation to engage in intense preparation, a series of assessments and planned strategy development

Phase 2: Managing the change. In this phase, leaders must add details to the plan and implement the strategies explored in phase 1.

Phase 3: Reinforcing the change. This phase entails data gathering to determine whether or not corrective action is required. Phase three also requires recognition of aspects of the plan that are widely successful, and further reinforcement of them.

NB: Ian R. Ferguson was educated locally, regionally and internationally, having earned a Master’s Degree in Education from the University of Miami. During the course of his nearly 20 years in education, talent management and human resources, he has served both the public and private sector in senior management roles. He currently serves as manager of the Chamber Institute, and as a local consultant in the field, having assisted hundreds of local and regional businesses in improving business and service excellence through their human capital.