Historically change management strategies have usually been most relevant to localized
events such as communities dealing with the loss of a major employer or a company dealing with downsizing changes. But a change management mentality seems to be appropriate for business owners and managers because of a changing operating climate for companies of all sizes. Small businesses have particularly been forced to absorb the impact of one change after another. The fluctuations in both banking and the overall economy provide an ideal illustration of how a change management perspective might help small business owners to cope with circumstances that continue to change before our eyes.
In a traditional application of change management, it is common for someone or a designated group of individuals to assume overall responsibility for the change management process. In the current example, it will be necessary for each small business to develop their own unique organizational structure for dealing with change rather than relying on somebody else to take care of it. If a business owner cannot do this, it might be feasible to explore whether a business consultant or other organizational management expert can adopt the role of a change manager.
Whatever process is adopted, there have been many external changes impacting small businesses everywhere and a systematic approach for handling such change is advisable. There are likely to be many companies which choose not to adopt any process for change management for a variety of reasons. Some of the most severe changes might be due to internal circumstances such as a revised production line rather than external ones such as banks and the economy.
The banking industry has changed during the past five years, and this has literally forced companies doing business with banks in any way to adapt to the changing financial environment. Businesses that have failed to do so have probably already seen consequences such as increased operating expenses and a postponement of some key projects. We have probably all heard enough people say something like "I dont deal with change very well" to realize that there are significant differences among individuals in how they respond to change. This is just one of several reasons why change needs to be actively "managed" within any organization.