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Organizational Resilience and Financial Performance
Introduction to Change Management Plan Resource Strategy
Change management in any organizational strategic context has a vital play in turning out the opportunistic areas and improvement areas into the strengths according to the SWOT analysis model. Certain resources, tools, application, and analytics requires their input while choosing and formalizing the most competent and suitable change management strategy (Hayes, 2018). It must never be overlooked that certain unnoticed resources have a higher effect of utilization in the change management perspective (Burnes, 2016). Hence, resource allocation and strategy for allocation becomes an elemental procedure to satisfy the change management planning and actions in the environment targeted towards change. The study propounded is purposed at identifying the resources required for the implementation of a change management plan and the potential strategies for the same at ‘Care Pvt. Ltd’.
Key Stakeholders and Personnel
Handling a health care organization or business inherits a list of entities that act as a relevant stakeholder in the context of ‘Care Pvt. Ltd.’ where management of human resource activities becomes a question of concern.
Booth et al. (2016) has stated that the Australian Department of Health acts here as the supreme external stakeholder in the business, responsible for the setting of the standards, regulations, and frameworks for the adoption of safety, qualitative, and adequate process in the healthcare management. For instance, the Private Health Insurance Ombudsman has been proposed that secures the interests of healthcare consumers.
Likewise, the human resources involved in the health care profession like nurses, AINs, GPs and others of ‘Care Pvt. Ltd.’ also acts as prominent internal stakeholders in the business area. The change management plan has been in the focus of the study as this group of stake has a higher inclination in the changing workforce culture, cultural sensitivity, and well-being (Macke & Genari, 2019). In the catalysis of the same, the resource strategy involves the HR department in the process of auditing and rebuilding the workforce framework.
Similarly, the organization’s board of directors acts as the apex body of stakeholder in the organization’ change management plan and resource strategy as these are the controllers of the change management plan and hence must be considered as an authority for decision-making and strategizing the resources technique in the firm (Santos et al., 2018). In addition to this, the pateints within the organistsion are major stakeholders for whom ultimately the change management plan is required to be formulated.
Equipment and Major Resources
Towards the creation of a new business normal irrespective of the industry type, constant change management is vital that further inquires for the resources and elements required for the effective change management strategy to be implemented. Certain major and minor resources and equipment come into force while strategizing a business plan out of which few, as highlighted, have a higher rate of correlation.
According to Haseeb et al. (2019), technology has become one of the most extensive resources usable in the business management context nowadays, and thus finds to be quite effective in the change management plan of ‘Care Pvt. Ltd.’ for managing the identified changes in the workforce culture and sensitivity. Utilization of internet technology and automated assistance in the computer technology such as information systems software for routine update and management of details regarding the workplace management, chatbots for a 24*7 employee assistance to create a sense for employee sensitivity, etc. can be forced.
Likewise, financial resources also represent as the most paramount resources of all as the financial background of an organization reflects the tendency to inherit and inbuild the new changes and strategies in the workplace (Prayag et al., 2018). From setting up the business framework, recruiting competent personnel, managing the financial results, and income, finance as a resource is highly essential.
Funding
In order to cater to each change management strategy in the business function, funding arrives as an inevitable part of the planned strategies that take into play the role of the most fundamental requirement in change management as well as in resource strategies (Prayag et al., 2018).
‘Care Pvt. Ltd.’ seeks to derive a sound and prospected funding allocation and resources so as to accomplish the change management and resource strategies standards expected by the use of financial constructiveness. Henceforth, for adequate funding allocation, the business seeks to utilize so e of its part of working capital at the business level to procure the basic strategies and resources.
In the likewise manner, the firm ‘Care Pvt. Ltd.’ seeks to utilize crowdfunding as the wider method of funding and its allocation for the betterment of financial capitalization that has an eventual reaction in the resource strategy and hence change management action in the business environment (Yuan, 2016).
The alternative to this, as posted by Mooney and Scotton (2020), the Australian Business Funding Center (ABFC) is an Australian community that assist the businesses with fundraising and financial advising to the businesses to create a remarkable effect of the business development or change among the target citizens and market.
Communication and Training
Implementing and inculcation of any process or change in an organization requires a robust, flexible, and transparent communication and training patterns within its people. Therefore, managing an effective communication practice and structure within the organizational workforce assists the change management and risk management strategies radically (Neill, 2018).
Following the practice of communication and training has to be incorporated for resource strategy and change management effectiveness.
- Effective interpersonal communication by the use of a common platform such as chatbots.
- Developing open communication practice to enable human resources to freely communicate queries.
- Routine interview and inspection of employees to understand their performance appreciation in terms of communication and training (Hauser, 2020).
- Effective leadership and mentoring development for proper employee conduct.
In addition to this, inhibition of a structured yet accessible organizational hierarchy of communication and design must be focused on the betterment in the same.
Conclusion on Change Management Plan Resource Strategy
‘Care Pvt. Ltd.’ seems to have sound profiling of its resource strategy for the successful change management planning within. Managing the change by the view of resources available and attainable has a higher chance for succession in any organizational context. Whereas, identification of the extraneous variable that may affect the practices involuntarily can be difficult, which can easily be resolved by the use of effective communication techniques and training.
The resource strategy proposed must be thus enforced promptly to leverage positive outcomes from the same.
References for Change Management Plan Resource Strategy
Booth, M., Hill, G., Moore, M. J., Dalla, D., Moore, M. G., & Messenger, A. (2016). The new Australian Primary Health Networks: How will they integrate public health and primary care. Public Health Res Pract, 26(1), e2611603
Burnes, B. (2016). Change management. In Encyclopedia of Human Resource Management. Edward Elgar Publishing Limited.
Haseeb, M., Hussain, H. I., Ślusarczyk, B., & Jermsittiparsert, K. (2019). Industry 4.0: A solution towards technology challenges of sustainable business performance. Social Sciences, 8(5), 154. https://doi.org/10.3390/socsci8050154.
Hauser, C. (2020). From preaching to behavioral change: Fostering ethics and compliance learning in the workplace. Journal of business ethics, 162(4), 835-855. https://doi.org/10.1007/s10551-019-04364-9
Hayes, J. (2018). The theory and practice of change management. Palgrave.
Macke, J., & Genari, D. (2019). Systematic literature review on sustainable human resource management. Journal of cleaner production, 208, 806-815. https://doi.org/10.1016/j.jclepro.2018.10.091
Mooney, G., & Scotton, R. (2020). Economics and Australian health policy. Routledge. New York.
Neill, M. S. (2018). Change management communication: Barriers, strategies & messaging. Public Relations Journal, 12(1), 1-26. Institute for Public Relations.
Prayag, G., Chowdhury, M., Spector, S., & Orchiston, C. (2018). Organizational resilience and financial performance. Annals of Tourism Research, 73(C), 193-196.
Santos, R. C., Orso, L. E., Lizote, S. A., & Marcon, R. (2018). Board of directors: The perspective of independents in the performance of private organizations? Evidence in Brazil. Revista de Administracao Mackaenzie, 19(4). https://doi.org/10.1590/1678-6971/eramf180003.
Yuan, H., Lau, R. Y., & Xu, W. (2016). The determinants of crowdfunding success: A semantic text analytics approach. Decision Support Systems, 91, 67-76. https://doi.org/10.1016/j.dss.2016.08.001
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