Change

Change management is the act of leading companies and organizations through change. This could be anything from helping a company embrace a new strategy or mission, renew its organizational structure, or respond to disruptive new technologies or consumer tastes. Managers and executives today not only have to be able to assess change, adapt, and take initiative; they also need to guide these initiatives to successful outcomes with the support of employees and other stakeholders. This can be challenging to particularly in large and complex organizations. In some cases managing change is also about proactively leading change, as in the case of fostering innovation.