Organizational change is how a firm or enterprise changes a key aspect of its frameworks, such as its culture, operational infrastructures, supporting technology, or internal procedures. I presently operate with the Home Depot organization, an American retail organization as the sales consultant. It deals with selling tools, construction products, appliances and services. To attain its utmost capacity, the Home Depot organization collaborates with households and their communities while concentrating primarily on providing services to the organization’s customers. Although all adjustments impact persons, people-centric organizational transformation involves implementing new parental vacation regulations or hiring new employees. There have also been structural adjustments, including modifications to the managerial framework, team organization, the duties assigned to various sections, the chain of command, job structures, and administrative processes.
Financial or economic, technical, political, social, legal, employee productivity, and leadership visions influence organizational transformation. Such elements of transformation have been divided into external and internal ones (Tahir, 2022). Elements from the organization, like vision, ethics, and concepts, are considered internal factors. The organization’s prospects and competitors are examples of external influences. Upon identifying a few of the shortcomings within the organization, the agency realized that change was necessary. For instance, there may have been a necessity for change whenever the original vision for the change became compromised (Hannum, 2022). Considering my expertise, I can categorically state that it supports the data from the readings regarding whether a change could be undertaken because it is necessary when the organization’s goal and dream are not.
Typically, the Home Depot Organization looks for internal and external indicators of a necessity for change. It accomplishes this by reiterating to every organization’s individual what is expected of them and whatever the members expect of the organization. The prognosis for Home Depot must take low interest rates and the effects of tariffs more into account. We might be capable to determine whenever a rebound in housing might counteract the harmful effects of tariffs. In addition, Home Depot confronts other difficulties, including lumber deflation being the biggest drawback. The other main issue for bulls has been same-store sales. Those two elements, together with worries about tariffs, have contributed to lower prospects for Q2 and hazy perceptions of the second half of the year (Collins, 2019). During their Q1 report the management previously reduced FY EPS from $10.09 to $10.03.
The structural adjustment impacted the majority of the foundation’s regions. Simply because, certain places were severely impacted by the issues and required greater modification for recovery, they were significantly more afflicted than others. All of the move’s effects were predicted, and the outcome benefited the organization. Significant outcomes which have benefited both the Home Depot Organization and society generally have resulted from the shift within the organization. Countless young people have been given jobs due to it, which has helped the world’s countries flourish and lowered the rate of poverty.
In the organization, there has been a change from the start of the COVID-19 epidemic. During this period, the organization had to function online when the lockdown was drafted in the country. This was a big challenge trying to fix and learn more about technology as a member of the organization. Home Depot’s shares, that have increased 12.4% this year, fell close to 3% after the firm canceled its full-year forecast due to pandemic-related concerns (Kumar, 2020). The risks presented to employees as they dealt with the problem prompted the business to offer extra bonuses, double overtime compensation, and double the number of hours of paid time off. Some of the employees were laid off and that was a drastic change.
In conclusion, I have gained additional knowledge regarding leadership and how change management in a company helps and benefits the organization. Leadership is primarily about concentrating on an organization’s aims and objectives in connection to its ethics and vision. One may manage an organization effectively and with the proper goals by concentrating on its internal and external components. Therefore change is good and it is ievitable, and therefore should be applied for effectiveness of the organization.
References
Collins, T. (2019). The challenges facing Home Depot. RealMoney. Web.
Hannum, L. (2022). 7 strategies for effectively managing organizational change. Beehive. Web.
Kumar, U. S. (2020). Home Depot misses profit estimates as coronavirus costs weigh. U.S. Web.
Tahir, U. (2022). Factors affecting organizational change. CMI. Web.