Managing Change and Innovation for Business Excellence: A Theoretical Perspective

Abstract

In today's dynamic and competitive business environment, managing change and promoting innovation are essential tasks for organisations aiming for business excellence. This abstract offers a theoretical viewpoint on the relevance of managing innovation and change, as well as how these two factors interact to promote organisational success. This research examines the major ideas and principles related to managing change and innovation and their implications for attaining corporate excellence, drawing on current literature and theoretical frameworks. The essential function of change management in supporting organisational transformation and adaptation is examined in the study. The procedures, approaches, and resources used to manage change effectively are covered in detail. These include recognising the need for change, developing a compelling vision, effectively communicating, and involving stakeholders at all levels. The research emphasises the value of change leadership and the function of leaders in successfully implementing change efforts. Theoretical analysis demonstrates how innovation and change management are mutually reinforcing and influencing one another. It emphasises the necessity for organisations to combine their change and innovation projects, as change may spur innovation while innovation can lead to the adjustments that an organisation has to make. According to the report, organisations should take a comprehensive approach to managing change and innovation, making sure that it is in line with their strategic goals and fosters a positive organisational culture.