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Role of Strategic Change Management in Emerging Markets: Ghanaian Perspective
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Author(s): George Kofi Amoako (Central University College, Ghana), Geoffrey Kwasi Adjaison (Bureau for Research and Development (BfRD), Ghana & Central University College Accra, Ghana)and Noble Osei-Bonsu (Central University College, Ghana)
Copyright: 2016
Pages: 24
Source title:
Organizational Change Management Strategies in Modern Business
Source Author(s)/Editor(s): Aslı Goksoy (American University in Bulgaria, Bulgaria)
DOI: 10.4018/978-1-4666-9533-7.ch016
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Abstract
Undoubtedly, the competitive business environment arising from current global economic challenges and the rapid technological advancement among other pertinent issues, pose a serious challenge for businesses especially, those within emerging market enclaves. This situation necessitates proactive measures, innovation as well as strategic approaches to change management in a bid to salvage most of these businesses from collapsing. This research aims at examining the role played by strategic change management in emerging markets from the Ghanaian perspective. In view of this, the study reviewed related literature from electronic books, articles and reports on areas such as emerging markets, strategic management and change management practices. Observations from this research include highlights of the significant challenges faced by businesses in emerging markets due to difficulty in obtaining critical resources and the fast-growing competitive global business environment. It was also discovered that strategic Change management is a very important practice used over the years to enhance the achievement of organisational goals. However, many industries in emerging markets may find it difficult to maximize such measures due to numerous reasons and myths about change. There is therefore the need for the adoption of strategic change practices to enhance the success of businesses and promote competitiveness in the midst of the global economic challenges. In addition, the authors recommend exploration of further research in other interest areas that have relevance for emerging markets.
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