Change Management Plan

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Running Head: CHANGE MANAGEMENT PLAN1“Change Management Plan”Name:Instructor:University attached:Date:Based on the change management plan for Wal-Mart as outlined in the paper, critically analyzethe significance of HR policy changes related to employee working hours and compensation.How can Kotter’s 8-Step Change Model be applied to this situation to effectively manageresistance to change and ensure successful implementation? Discuss the potential benefits ofthese changes to both employees and the company, and evaluate the communication strategiesand diagnostic tools that would support this change process.Word Count Requirement:

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CHANGE MANAGEMENT PLAN2IntroductionBackground Information about the Research PaperChange management is one of the essential aspects of all the business firms becauseorganizations require changes in its operations and business activities due to changing orfluctuating environment of the business. At the same time, it should also be noted down that, intoday’s more challenging and competitive business era, change management offer significantcompetitive advantage to the organizations for the fulfillment of their core and strategicobjectives in an effective and more systematic manner(Kotter, 2008).In the same way, change management allows organizations to quickly and effectivelyimplement change to meet market needs.In recent times, due to continuous changes intechnology, economy and needs or perception of customers, the organizations need for changesin their operations and process and require change management to maintain success in themarket. Change management in the workplace is an important topic that is discussed in thispaper.Hence, due to these causes, a change management plan is prepared by the organizations inan effective and proper manner(Kotter & Cohen, 2002).What is Change Management?Basically, change management can be defined as a systematic and innovative approach todealing with change, both from the individual and organizational level. By considering theexample, a practical method to deal with change is at the core of all three aspects. In addition tothis, it is also interpreted that, from the organizational point of views, change management isabout implementing and defining tools, procedures, methods and/or technologies in order to dealwith changes in the business environment and to profit from changing opportunities. Moreover,

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CHANGE MANAGEMENT PLAN3the main goal and objectives of change is overall improvement. Hence, it can be said that,change management is a method to transitioning individuals, teams, and organizations to adesired future state (Kotter, 2008).Change Management Plan:Information about the organization in terms of Industry, Size, and HistoryFor this research paper, Wal-Mart Retail Corporation is selected. Wal-Mart was initiatedby Sam Walton in 1962. It an American multinational retail company that sprints chains of largediscount department stores as well as warehouse stores in around 27 countries. Along with this,Wal-Mart assists persons round the world save money & live better, anytime and anyplace inretail shops, online and through their wireless devices. Furthermore,in the retail sector,theenterprise runs its enterprise through e-commerce websites in 10 countries and in every weekaround 245 million customers visit its 11,000 retails stores under 69 banners in the worldwide.Apart from this, according to the Fortune Global 500 list in 2013,in the retail industry,Wal-Martis the world's second biggest public corporation and the largest private employer in the world. Ithas approximately two million employees and also the largest retailer in the world(Wal-Mart.2014).The revenues of the company were US$ 469.162 billion as per the financial report of2013. Hence, Wal-Mart is the biggest retail company in the world.In the year 1950, Sam Walton purchased a store from Luther E. Harrison in Bentonville,Arkansas,and opened Walton's 5 & 10.Thus, the Ozark Mountain town of 2,900 residentswould become the headquarters for the world's largest retailer.Moreover, it is also analyzed that,the discount stores operated by the company are the departmental retail store with size varying

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