Why is change management so important?
Change management is central to achieving operational effectiveness throughout the mergers and acquisitions (M&A) process. According to Prosci, change management is the "application of a structured process and set of tools for leading the people side of change to achieve a desired outcome". Research by the organisation has found that projects with excellent change management effectiveness are six times more likely to meet or exceed their objectives. Moreover, people will feel more engaged in the whole process if change management is used, as it gets them to work collectively towards a common objective and deliver impressive results. What are the benefits of change management? The beauty of change management is that it provides instructional scaffolding for an organisation and its staff. This can help to promote a deeper level of understanding, as people are forced to carry out their functions within this framework. Among the other benefits are: It lets organi