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Change Implementation Plan
Expanding to other foreign markets will require Aeries to change its structure and operations. A change implementation plan built on one of the proven change management models could help to ensure that the company has enough resources and knowledge to implement and sustain change. The ADKAR model of change management is useful in the context of Aeries since it encompasses different aspects of the company, such as operations, management, and strategy (Malhotra). There are five components of change based on this model: awareness, desire, knowledge, ability, and reinforcement (Malhotra). These components can be translated into the following change implementation plan:
- Analyze the current cash flow and sales and make forecasts of the potential impact of expansion to other markets.
- Determine and communicate the potential benefits of change for individuals and teams.
- Research the potential markets for expansion in terms of competition, profitability, and the company’s operational capacity.
- Select markets for expansion and analyze them to understand the required alterations to product, design, marketing, and operations.
- Expand the business by setting up branches in the selected markets, establishing distribution, and increasing production volume.
- Create a comprehensive plan for future development in each selected market.
Personal Recommendations
Although the proposed change plan is rather straightforward, there are some things for Aeries to focus on during expansion. First of all, the company needs to research both customers and potential investors from the selected market. This will help the company to gain more cash required for expansion while ensuring that the sales meet expectations. Secondly, despite the negative experience with a marketing manager, the company should consider hiring a person to fill this position.
Ideally, for every new market the company selects as part of its expansion, there should be a separate marketing manager with excellent market knowledge. This will ensure that the change is feasible, and the product gains popularity in new markets. While the team has experience with the Chinese market, they are unlikely to build the same level of expertise in other markets in a short timeframe, which is essential to successful expansion.
Work Cited
Malhotra, Gary. “ADKAR Model : What Is It and How To Use It?” Whatfix. 2019. Web.
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