MGT- 30152 Impact of Business Trends

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Apr 3, 2024

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Erika Paradis MGT- 30152 Impact of Business Trends To: Project Manager RE: Clear Sky Air - Focus group analysis Introduction: The importance of conducting environmental scans to identify trends inside and outside an organization. Environmental scanning is a process that surveys and interprets relevant data types to identify and analyze internal and external opportunities and threats. Examples of types of data analysis tools include SWOT, PEST, interviews, and focus groups. It is important to understand trends in business and have an awareness of the changes occurring around the business to have the ability and time to react to changes which influence the business. (What is an environmental scan? ND) It is important for businesses to respond preemptively to potential changes inside and outside the organization because when a leader is not prepared to deal with market shifts it can lead to missed opportunities. Missed opportunities can lead to lagging profits, and poor outcomes. When a company falls behind in these areas and do not respond to change in a timely manner it is a possibility that the business could be negatively impacted financially or even fail completely. (What is an environmental scan? ND) Analysis of Trends Operational Trends: Two operational trends within the focus group results that may be impacted by the change include cultural concerns from 32% of customers and 75% of employees who expressed significant concern that one of the cultures will no longer exist and they are concerned it may be the wrong culture that becomes dominant. 28% of the customers stated they expect a cultural clash within the two companies as they merge but expect the management team to ensure no disruption to their customers while 15% of employees wrote on the response card that they as employees will be asked to leave if they do not accept the new culture as they are suspicious about change and additionally 5% wrote they do not trust the leaders of either company and know there will be a culture clash that will affect all employees but hope it does not affect the customers. (Marketing and Public Relations Focus Group Summary of Results, ND) Positive impacts include that while customers are expecting little to no impact and employees are also hoping that the customer is not impacted. Knowing that employees are having these positive intentions will allow the company to give employees the space to keep a close eye on the customer impacts it will need to be communicated as a top priority to not negatively impact our customers. Employees will have the opportunity to address any concerns that they see as a potential customer impact so that the company can have the opportunity tot address and hopefully resolve before it becomes an issue. (The Impact of Organizational Culture on Success, ND)

Negative impacts may include employees feeling disconnected from the new culture and as though their goals and interests no longer align. With employees feeling a disconnection this can lead to disengagement creating a negative workplace, this can have a negative impact on an employee’s work performance and can directly impact the customer experience. It will be necessary for the organization to communicate the mission and explain how employees’ roles directly impact the mission and goals and how they align to the organization. This will assist employees with feeling more engaged and hopefully more motivated to take part in the work that the organization is doing which will directly positively impact our customers. (The Impact of Organizational Culture on Success, ND) Personal Trends Two personnel trends within the focus group results that may be impacted by the change include 29% perceived their salary would be reduced by 25%. The second trend is that 40% of the employees perceive their retirement benefits will be reduced by 50% while 20% of the managers perceive their retirement benefits will remain the same. (Compensation and Benefits Focus Group Summary of Results, ND) Positive and negative Impacts on the personal trends noted from employees and managers may include the organization dealing with some employee turnover. When employees are unhappy and if they feel that their benefits and salary will be reduced this may create some dissatisfaction and disengagement causing some employees and managers to begin looking for another job and even leaving the organization. Some positive impacts on the personal trends may include reducing staffing that may be unnecessary. With some employees leaving this may benefit the company if we are finding there are positions in place that could be filled within other roles that already exists within the organization. By employees eliminating themselves this may prevent the organization from having to let go of people and creating a scared or negative work environment. (Meehan, 2021) Recommendations Operation Recommendations Two recommendations that will help mange the change would include transparent communication. This will include creating a mission and vision statement and ensuring employees know their role within these missions and visions. It is going to be imperative during the acquisition that leadership ensures that employees feel as though they are aware, they should be aware of the changes that are coming, why they are occurring, and given the space to communicate their feedback on the changes. When lines of communications are open this will create less employee disengagement and dissatisfaction. This will assist with keeping valuable employees. (The Impact of Organizational Culture on Success, ND) Another recommendation to manage the operational concerns would include creating team building opportunities as well as frequent team meetings, and trainings on new processes. By ensuring that the foundation of the culture is collaboration and team this will help employees connect with one another, collaborate with one another, and create an overall positive employee experience and culture. Any successful company needs to have a positive work culture that

consists of collaboration for the best minds to come together and produce the best ideas. (The Impact of Organizational Culture on Success, ND) Personal Recommendations Two recommendations regarding the personal trends that will assist with managing the change will include communication and planning. The expected changes should be clearly communicated with employees but should also be timed correctly. If the organization needs to reduce salary or benefits this needs to be communicated and explained to employees and they need to provide ample time to reconfigure their finances. (Shrm, 2018) We also need to ensure that as an organization we show empathy when cutting benefits or salary, this can be done by providing a grace period before the change will take effect or offering employee assistance programs or incentives that may reduce the cost of certain benefits or even supplying employees with discounts on necessary items such as food or utilities. (Shrm, 2018) Another recommendation that may assist with managing the personal changes includes performing a market analysis before making any cuts to ensure that the organization is still providing employees with fair compensation according to the market this will assist employees with having a better understanding on the why and they may be more apt to take the information in and decide to stay. (Shrm, 2018)

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References What is an environmental scan? (n.d.). Retrieved April 12, 2023, from https://www.business.com/articles/what-is-environmental-scanning/ Marketing and Public Relations Focus Group Summary of Results [PDF]. (n.d.). Southern New Hampshire University. The Impact of Organizational Culture on Success. (n.d.). Retrieved April 19, 2023, from https://www.michiganstateuniversityonline.com/resources/leadership/the-impact-of- organizational-culture-on-success/#:~:text=The%20culture%20creates%20the %20environment,live%20its%20mission%20every%20day . Meehan, M. (2021, December 22). Trends for 2022: Change the way you look at change. Retrieved April 19, 2023, from https://www.forbes.com/sites/marymeehan/2021/12/21/trends-for-2022-change-the-way- you-look-at-change/?sh=132242f26d8b Shrm. (2018, April 11). Tips for handling-and communicating-compensation changes. Retrieved April 19, 2023, from https://www.shrm.org/ResourcesAndTools/hr-topics/compensation/Pages/compensation- changes.aspx.

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