[This article was written by Lizzie Weakley.]
Succeeding in business for the long term requires being able to adapt and evolve. Just because something worked at one point in the past does not mean it will work today. Don’t be afraid to make adjustments to your business as needed to best compete.
This certainly includes your management structure. Without an efficient and effective management structure, your business has no shot at success. With that in mind, below are four things to consider if you have decided to revamp your management structure.
If you want to restructure management, you need to do a good job of communicating that fact to all facets of your company. This includes communication to management, middle management, department heads, lower level employees and even shareholders. A lack of communication will stifle your ability to progress to the new structure without issues. Good communication is part of good management regardless.
Restructuring a company’s management is actually a form of management itself known as change management. However, like any form of management, change management can be performed very poorly. If you want things to go well, you need to plan out the restructuring in meticulous detail. Change management providers can help your company format and plan for the future. The fewer gaps in that plan, the less likely it will be that something unforeseen goes wrong. You need to plan well ahead and know with some certainty how the changes in management will affect different facets of your business.
One of the most common reasons why a company restructures its management is because of growth. Running a company a certain way may have made sense when it only existed as a single brick and mortar location. However, if you now have 100 physical locations and an online store that serves various countries, obviously that same management structure will no longer be effective. You also need to make sure you plan for future growth as well so you aren’t constantly being forced to create new plans.
Another reason to restructure your company’s management structure is because of technology. Technology is absolutely transforming many different industries. Certain jobs that were once performed by hand are now completed by robot. Other tasks have been automated by software. Many workers now live on other continents and complete their work over the internet instead of in an office. All of these changes will require the management structures of businesses to be altered.
The business world does not stand still. It is constantly evolving and progressing. The same is true for many companies. As companies change, so should their management structures. Without these adjustments, many companies may not meet their full potential in the marketplace.
Lizzie Weakley is a freelance writer from Columbus, Ohio. In her free time, she enjoys the outdoors and walks in the park with her three-year-old husky, Snowball.