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Global + Digital CPCU 2023 Effectively Managing ChangeEffectively Managing Change While change is the only constant, getting change right has been too elusive for too long. This is largely because managing change is often left to chance. The result tends to be change resistance, fatigue, or dissatisfaction. This session will equip participants with ways to maximize the positive elements of change by better determining which of the three types of change is needed for any context and identifying key actions that can improve the success odds of putting the needed change to practice. Dr Tom Hunsaker▪ Nearly 80% of managers report experiencing “change fatigue.” Why? ▪ How can you better determine the type of change needed for your context? ▪ First impression that comes to mind when you hear the word “change”?Source: Strategy of Change Series. MIT Sloan Management Review. Hunsaker & KnowlesChange is always needed. But not all change is equal. Source: Strategy of Change Series. MIT Sloan Management Review. Hunsaker & KnowlesOver 70% of change efforts miss the mark. Why?Diagnose what form of change is needed ▪ Far too often change is left to chance ▪ Problem: A single word “change” is used to describe three very different needs ▪ You’re more likely to succeed if you correctly diagnose the type of change needed –from the start Keys3 Forms of Change “I need to enhance my execution of the current path.” “I need to find new ways of pursuing the current path.” “I need to take a different path.” Magnitude Activity Direction Source: Strategy of Change Series. MIT Sloan Management Review. Hunsaker & KnowlesEvaluating Your Current Performance Your approach is based on a sustainable model of value exchange with all key stakeholders and produces a value proposition that is valued by an attractive andaccessible audience Your approach produces and maintains a level of distinctiveness relative to alternatives and/or preferential regard among key stakeholders Source: Strategy of Change Series. MIT Sloan Management Review. Hunsaker & Knowles Key: Relevance Key: DistinctivenessNext >