Post-Maturity Primer
This stage of the business life cycle is characterized by slow or no growth, often requiring a business to re-evaluate its direction.
What is the post-maturity stage?
This is the overall process by which an organization moves from its current state to a desired future state.
What is change management?
This pioneer of change management proposed a three-step model: Unfreeze, Change, and Refreeze.
Who is Kurt Lewin?
This human resource strategy involves reducing the number of employees, often due to declining performance or restructuring during renewal.
What is redundancy?
This analytical tool categorizes internal Strengths and Weaknesses, and external Opportunities and Threats.
What is a SWOT analysis?
Name the two possible outcomes for a business in the post-maturity stage, distinguishing between stable operations and decline.
What are steady state and decline?
Name two of the internal "drivers of change" that can originate within the business itself.
What are corporate culture, management styles, or organisational structures?
Name any two of the eight steps in Kotter's change management model.
What are: establish a sense of urgency, create the guiding coalition, develop a vision and strategy, communicate the change vision, empower broad-based action, generate short-term wins, consolidate gains and produce more change, or anchor new approaches in the culture?
Name two strategies for overcoming resistance to change that involve direct communication and dialogue with employees.
What are communication and participation?
This analytical tool examines Sociocultural, Technological, Economic, Environmental, Political, Legal, and Ethical factors impacting a business.
What is a STEEPLE analysis?
Explain the key difference between rebranding and repositioning for a business in the post-maturity stage.
What is: Rebranding changes the superficial identity (logo, name) while repositioning changes the perceived market perception and strategy of the product/business itself?
Name two external "drivers of change" that can originate from the macro environment.
What are competition, legislative compliance, technological advancements, economic shifts, socio-cultural trends, environmental concerns, political stability, or ethical considerations (any two from STEEPLE)?
Explain the "Unfreeze" stage in Lewin's model of change.
What is preparing the organization for change by identifying the need for it and breaking down old ways of thinking/doing things?
This strategy for overcoming resistance involves offering incentives or concessions to those who might lose out from the change.
What is negotiation?
Name two of Porter's Five Forces that analyze the competitive intensity within an industry.
What are supplier power, buyer power, competitive rivalry, threat of substitution, or threat of entry?
This exit option for a declining business involves an external administrator appointed to try and save the company or manage its liquidation.
What is voluntary or involuntary administration?
This driver of change refers to new laws or regulations that businesses must comply with.
What is legislative compliance?
This concept refers to how managers continuously oversee and improve employee performance, which is crucial during business transformation.
What is performance management?
Describe how emerging technologies can influence the marketing function when repositioning a business.
How is it that new technologies can enable digital marketing, personalized advertising, or new e-commerce platforms to reach target markets differently?
This analytical tool helps identify and weigh driving forces (for change) and restraining forces (against change).
What is Force Field Analysis?
Describe two internal factors that can influence the need for change and repositioning in a post-maturity business.
What are corporate culture, management styles, or organisational structures?
Explain how a major new competitor entering a market can act as a driver of change for an existing business in the post-maturity stage.
How is it that the new competitor could erode market share, force price reductions, or demand product innovation, pushing the existing business to adapt or reposition?
Describe the interrelationship between performance management, change management, and business transformation.
How is it that effective performance management supports change management by aligning individual and team efforts with new goals, which then drives successful business transformation?
Explain the relationship between strategic planning, vision, and effective change management.
What is: A clear strategic plan and vision provide direction and purpose for change management, helping to guide decisions, overcome resistance, and align all efforts towards the desired future state of the business?
This tool is used to analyse stakeholders by categorizing them based on their level of power and interest in a business's transformation.
What is a Power Interest Grid?