Red carpet needs a transformational change to enable it to shift in its structure. This results from a change in its fundamental process as well as a strategy the organization has been using from the past. This change is usually enacted over a specified duration of time and is designed to be organization-wide. In the transformational change, effective leadership is necessary to manage the changes through mastery of details. The leaders are therefore required to be useful to maintain and instigate change in the organization. This change involves the identification of critical stakeholders at different levels of the red carpet organization and finally tries to bring all of them on board. Considering what the different stakeholders want, one has to try and link the planned change to things various participants need. (Carter, M. Z et al .2013), this will help reduce resistance and afterward leads to gaining of champions for the effort made.
Preparation of different stakeholders includes making them aware of the change and be able to change, provision of opportunities to enhance in shaping the changes as well as developing solutions and spelling out why transformational change is necessary and include all the consequences and cost of not abiding by changes. Tools and training have to be provided to propagate the needed change. Acknowledgment of the dimension of the human for change is essential, and finally, communications plan has to be effective, quick and easy reference guides, blogs, executive memos, articles, training materials are all necessary.
The results of transformation change, therefore, has to be evaluated by using critical metrics from the data to determine the success of the initiative and then making continuous improvements. Communication plan as seen earlier has to be integrated to provide the opportunity to monitor the current success metric through a constant feedback system.
The employee’s groups that are vital stakeholders here include sales department, marketing department, and accounting department. In the sales department, the Red carpet Company is mandated to train and develop its employees for the best interest of the firm. The training helps employees to build stronger commitment, loyalty, and satisfaction as compared to their non-transformational counterparts. Sales leadership has a pivotal role to play in the establishment of departmental competence, credibility as well as commitment. Employees in the sales segment comprise of the company’s effective interactions with its clients. The employees are therefore required to be friendly, flexible, resilient and well trained
In the marketing department, Red carpet firm has to possess some strong sense of commercial capabilities at the ground level to enable executives to take significant actions. In this regard, strength, as well as weaknesses, are also necessary to be determined against all capabilities afterward mapping them against their objectives to propagate prioritization of capabilities. A transformation team built on trust is also required in the marketing development sector. This should comprise the head of sales, chief marketing officer, chief operating officer, and head of sales, human resource and professionals in the communication sector. HR should be able to keep everyone more focused. (Trim, P. R. 2002). The team has to be more focused on learning each person’s capabilities, understands motivation as well as approaches towards change and threat. In the marketing sector, the organization has to be activated by the transformation team. This requires a clear vision for the creation of new habits at every level. For managers, the focus has to be revolving around product knowledge, coaching and problem-solving.
Finance transformation is a necessity and fundamental change in the functions and operations to achieve significant improvement in the current performance through service delivery that meets the business needs. With this reference, Red Carpet Company, therefore, should have objectives with clear ways through which the development of these goals has to follow. Having target is required for finance transformation.
The transformation has to be broad in scope, having multiple individual projects which enable the realization of benefits progressively by garnering business support for the conversion of finance programme. This also enhances the changing of direction of the plan in its flexibility. Accounting transformation is required since in a company employees are not for themselves but to support the business and drive its performance. (Linder, J. C. 2004). Triggering cost saving improves change as it improves more value to the customers as well as better returns to the shareholders. The success of the finance transformation has to be based on vision and clear aspiration, alignment of programme and support with the overall business strategy and having the executive support. It can also be realized through having strong change management, taking an operational view, taking things in the right direction through looking of data, technology, people and process and prioritizing what has to be done first. Finally, the measurement of the progress has to be done
Integrity and risk transformation is also a key. It helps in trust creation and frequently keeping pace to reduce regulatory, and strategic risk. Through robust automation of Red carpet can achieve better integrity both in its control as well as balance sheets. Process automation transformation also has to be initiated to promote efficiency for example in the finance sector.
- Carter, M. Z., Armenakis, A. A., Feild, H. S., & Mossholder, K. W. (2013). Transformational leadership, relationship quality, and employee performance during continuous incremental organizational change. Journal of Organizational Behavior, 34(7), 942-958.
- Trim, P. R. (2002). Corporate intelligence and transformational marketing in the age of the Internet. Marketing Intelligence & Planning, 20(5), 259-268.