MGMT 425 1-2 Elite Knowledge Training 2_Vicki.Clason

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Elite Knowledge Training 1-2 Victoria Clason 23/FA-MGMT-425-E1WW Prof. Bagdady August 19, 2023

Elite Knowledge Training Initial Analysis This document contains initial information regarding factors that are influencing EKT’s performance in the marketplace and preliminary high-level recommendations for changes within the organization to stay competitive and maximize revenue. Information input has been gathered from interviews with employees of EKT, information provided by the company and independent research conducted by the Organizational Change Management Company. Factors influencing Elite Knowledge Training Many factors can influence performance, these are referred to as the “PESTEL Factors – the political, economic, social, technological, environmental and legal factors that describe the environment or context in which the organization functions” (G. Deszca et al., 2019). After reviewing the information regarding EKT, it appears that the following PESTEL factors may be influencing the company:  Technological – New technologies are allowing online virtual training and on demand trainings.  Environmental – In the new post-COVID centric world, many companies have shifted to remote work environments, negating the need for in-person training.  Economic – There is no longer room in company budgets for travel expenses to conduct face to face meetings. Conducting trainings online can save thousands of dollars per session. There are also environmental implications. When travel is not a factor, the environment is affected in a positive way, saving on fossil fuel consumption. 2

 Social / cultural environment – There is a significant culture shift to a younger workforce, who preferring virtual work. Additionally, many workers of all ages are moving towards virtual meetings to gain efficiencies in their day and contribute to helping to save the environment. In addition to the above PESTEL factors, there are also internal factors that need to be evaluated to ensure the EKT’s performance stays competitive in the market.  Company Culture – Ensuring that EKT has a clear mission and vision statement and communicating both to the entire company.  Management and Employees – Aligning management and ensuring that they are change agents for the company.  Organizational Structure – Ensuring that senior leadership is aligned with the goals of the company while making sure everyone understands the future goals of the organization. Initial Recommendations Based on the initial research and interviews, there are preliminary recommendations for EKT to head down a path towards successful organizational change. These recommendations are high-level, and a more detailed plan will be developed as further research and evaluations are conducted.  Implementation of online training – this is imperative to remain competitive in the market  Expanding EKT’s footprint in the marketplace – moving outside of the Waltham area. Expanding online removes geographical boundaries. 3

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 Reexamine the company structure – Allowing other voices to be heard and have a voice in decision making. Preliminarily thoughts of moving to a board of directors may be effective. This would allow a more democratic voice and allow all points of view to be thoroughly considered.  Reestablish the company mission and vision statements – Align these statements to the new goals and core values of the company. Conclusion Changing any part of an organization can cause uncertainty and stress in the best of times. For an organization to change, there must always be a reason. The reason is for EKT is to expand business and remain competitive in the market. Change is not easy; it does not happen overnight. There will be times where negotiation will be the key to success and know that we will be here to guide you through the process. 4

References Deszca, G., Ingols, C., & Cawsey, T. F. (2019). Organizational Change [E-book]. SAGE Publications. 5

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