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As change management becomes more necessary in the business cycle of organizations, it is beginning to be taught as its own academic discipline at universities. [2] There are a growing number of universities with research units dedicated to the study of organizational change.
Restructuring or Reframing is the corporate management term for the act of reorganizing the legal, ownership, operational, or other structures of a company for the purpose of making it more profitable, or better organized for its present needs.
A restructuring of an Organization may become necessary when either external or internal forces have created a problem or opportunity for improvement in efficiency and effectiveness. When performing an organizational analysis, many details emerge about the functions and capacity of the organization.
Organization development (OD) is the study and implementation of practices, systems, and techniques that affect organizational change. The goal of which is to modify a group's/organization's performance and/or culture. The organizational changes are typically initiated by the group's stakeholders.
A functional organizational structure is a structure that consists of activities such as coordination, supervision and task allocation. The organizational structure determines how the organization performs or operates. The term "organizational structure" refers to how the people in an organization are grouped and to whom they report.
This method of organizational transformation is implemented by analyzing and restructuring various aspects of a business, such as workflow, communication, and decision-making processes, with the goal of achieving significant improvements in performance, such as increased productivity, reduced costs, and improved customer satisfaction.
A corporate recovery (also referred to as corporate turnaround, restructuring, retrenchment, or downsizing) is a rescue undertaken by professional accountants or financiers who are trained to assist the management of a company in financial and other difficulties.
Business transformation is achieved by one or more of: realigning the way staff work, how the organisation is structured, the core product or service portfolio of the business and how technology is used. Typically organizations go through several stages in transforming themselves: [5]