Business executives believe that organizations need to adapt to change in order to have a competitive advantage. Change management programs involve organizational buy-in, design of change initiatives and seamless implementation of those initiatives. In a survey of North American executives, 54 percent stated they have successfully rolled out change management initiatives at their organizations. However, employees can be weary of change if they do not fully understand the initiatives and have experienced past change program failures. In fact, 48 percent of employees think their organizations lack the capabilities to sustain change initiatives.

For businesses to be successful, executives have to create management strategies that promote staff retention, revenue generation and a positive workplace culture. All employees have to support the change programs for business to have success in the future. Some of the common change models include Holocracy, the McKinsey 7-S and Kotter’s 8-step change initiative.

#1 Holocracy

Holocracy philosophy is the distribution of power to specific teams and employees at all levels are subject to the same rules. Organizations using Holocracy are more adaptive to change and have a clearer company mission with built-in reassessment to address future issues.

#2 McKinsey 7-S model

The McKinsey 7-S model uses strategy, structure, management activities, core values, style, capability of employees and competencies to see how the organization works. The model eases change transition and equalizes staff roles.

#3 Kotter 8-step Change Model

Kotter’s 8-step Change Model creates a sense of urgency, builds change teams, forms a strategic vision, enlists volunteers, empowers action, produces short-term wins, supports acceleration and incorporates change. This model is easy for businesses to adopt even in traditionally hierarchical systems.

Traditional management practices are bogging businesses down and make them unable to compete in today’s global market. Executives have to prepare their teams to adapt to these change models so they can control the implementation process and enhance business benefits. To learn more about the top business management models for effective management, check out the infographic below created by the New Jersey Institute of Technology’s Online Master of Business Administration program.