Implementing Change Strategies Essay

1464 WordsJul 26, 20146 Pages
Leadership Strategy One: Implement an effective leadership team to avoid possible impacts of any key leader’s exit Strong leadership is important for Gene One to get everyone on board with the planned changes. For Gene One to transform effectively the corporation from a privately owned to a publicly traded company, the management should focus on developing a culture that will facilitate decision making, inspire followers, ensure unanimity of purpose, and resolve divergent views among employees. As a result of this leadership strategy, the organizational structure will be diligently created to shield Gene One from any possible impacts of the key stakeholders leaving the company. Leadership Strategy Two: Scaling the business for growth while staying innovative Scaling the business for growth is vital for profitability and long-term sustainability. This can be achieved by a strategy to scale Gene One’s existing business and expand into the new areas of business. This strategy will focus on encouraging innovation, funding research, developing existing talent, hiring new talent, and ramping up sales efforts. Gene One’s strategy includes going public to raise the capital needed for its growth objective. IPO would open their doors for investor opportunities to gain additional capital resulting in increased revenue and growth for the company. The strategy will also include expansion into the key growth areas and scaling with the right mix of partnering and acquisitions. The company will also look into outsourcing options for cost savings to maximize its profits. The strategy will also take into account retaining the existing employees while expanding the team. Implementing and Facilitating Change Top-level executives should guide and coordinate the change effort and provide the vision, energy, and guidance needed to make it succeed (Yukl, 2010). As identified in

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