Analyze the concept of change management. How can organizations effectively manage   and adapt to change in today's dynamic business environment?

Understanding Business
12th Edition
ISBN:9781259929434
Author:William Nickels
Publisher:William Nickels
Chapter1: Taking Risks And Making Profits Within The Dynamic Business Environment
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Analyze the concept of change management. How can organizations effectively manage

 

and adapt to change in today's dynamic business environment?

Expert Solution
Step 1: Define the term dynamic business environment:

A dynamic business  terrain refers to a setting or  environment in which a company or association operates that's characterized by constant and  rapid-fire change. In such an  terrain, various internal and external factors interact and evolve,  frequently unpredictably, affecting the way a business functions and its capability to achieve its  pretensions.  


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