Please read and respond to the post below in your own words

Briefly describe the change that is needed and why it is important.

The organization I am currently consulting requires a significant restructuring. The company acquired two of its major competitors in the last five years. However, the integration of the acquired firm into its culture has been challenging for the firm. The company has not set accountabilities across the organization, leaving everyone on their own devices. The leadership team favors avoiding conflict, and as a result, the firm has lost control over its human and capital asset base.

The change is critical for the firm. The companys unit price has grown significantly. As the firm has a significant market share in their industry, they have increased the product price to cover the growing unit cost. However, in the long run, it can lose its market share as the competition within the industry has been growing. If the company can restructure and set accountabilities across its 34 plants, it can control its unit cost. It will further improve its market share due to the economies of scale advantage and keep the competitors at bay.

Using the Expanded Vision Matrix tool, draft your vision statement for this initiative.

The expanded vision matrix provides an excellent tool to draft a balanced vision statement. It includes four major components, strategy, financial, operational, and organizational, that help create a powerful vision statement that can permeate through the forces that support the status quo (JWI 555, 1 & Appendix, 1). Using the tool, the vision statement will be:

We, as an organization, strive to enhance the lives of our customers through a relentless focus on continuous innovation by building products that break the boundaries of currently available technology. We will achieve this by building an organization where all employees challenge the current technologies used by our competitors or us every day. By constantly evolving and raising the bar through which products in our industry are measured, we will continuously grow our market share, ensuring a high ROI for our investors and shareholders.

How do you predict stakeholders will react to this change vision?

Stakeholder management is critical in deploying a successful change initiative (JWI555, 2). Different stakeholders will react differently to the change:

• CEO will be enthusiastic about the vision statement. He is fully aligned with the change and has hired our firm to deploy the change in the organization.
• Chief Operating Officer (COO) and Chief Human Resources Officer (CHRO) will support the vision.
• All the Vice Presidents (VPs) who oversee the central departments and their direct reports will resist the vision statement. They do not want to change and believe they are doing the best in the current market conditions.