Change Management - Corporate Governance

Change Management Process

1. TOPIC: INNOVATION AND CHANGE PRESENTED BY: FARHAT ZEHRA GROUP MEMBERS: SHABANA & PALWASHA COURSE : ORGANIZATIONAL THEORY & DESIGN TEACHER: DR. QAMAR ABBAS CHAPTER : 11 INNOVATION AND CHANGE

2. INNOVATION AND CHANGE   The world seems to change every second, The High-tech companies are busy to keep up by Innovation. Usually small companies are more flexible to adopt change but in today’s extreme dynamic world large Organizations also work hard to keep them responsive on environment.

3. FORCES DRIVING A NEED FOR CHANGE ADVANCING TECHNOLOGY International Economic Integration. Shifting Economic Condition. Sovereign Debt. Growing Power of Arab Countries Growing power of BRIC nations. (Brazil, Russia, India, China) TYPES OF CHANGE Which comes from the environmental forces Episodic Change Continuous Change Disruptive Change

4. STRATEGIC TYPES OF CHANGE There are four strategic types of change within the Organization. 1 Technology. 2. Product or Service. 3. Strategy and Structure. 4. Culture.

5. INNOVATION VS CHANGE   There are two types of change first is organizational change, any idea which is new for organization but not for industry, organization adopt this change from industry. The second is organization innovation, any idea which is new for organization as well as for industry. These idea creator organization are considered as initiators or first mover and the early idea adopters are considered as follower and later idea adopter are laggards. VS

6. ELEMENTS / STAGES OF CHANGE IDEA NEED DECISION TO ADOPT IMPLEMENTATION RESOURCES

7. THE AMBIDEXTROUS APPROACH The organization structured its elements in a manner which support the exploring and exploitation the both change and innovation.   EXPLORING Ability to create new innovative ideas.   EXPLOITING Ability to implement the change and innovation. To achieve the both organization should have mixed structure organic and mechanical. Organic structure to support creativity and innovations, however, mechanical structure to systematically implementation of change and innovation.

8. TECHNIQUE FOR ENCOURAGING TECHNOLOGICAL CHANGE SWITCHING STRUCTURE CREATIVE DEPARTMENT IDEA VENTURE TEAM SKUNWORK BOTTOM OF APPROACH

9. NEW PRODUCT AND SERVICE NEW PRODUCT SERVICE New product and service is very important and difficult type of innovation because the success of innovation depends on the acceptance of consumers. REASON FOR NEW PRODUCT SUCCESS OPEN INNOVATION / CROWD SOURCING

10. NEW PRODUCT AND SERVICE NEW PRODUCT SERVICE New product and service is very important and difficult type of innovation because the success of innovation depends on the acceptance of consumers. REASON FOR NEW PRODUCT SUCCESS OPEN INNOVATION / CROWD SOURCING

11. HOW TO BRING CHANGE STRUCTURE AND STRATEGY CHANGE DUAL CORE APPROACH CULTURAL CHANGE WORKFORCE DIVERSITY LARGE GROUP INTERVENTION (LGI) TEAM BUILDING INTERDEPARTMENTAL ACTIVITIES

12. TECHNIQUES FOR IMPLEMENTATION ESTABLISH A SENSE OF URGENCY ESTABLISH A COALITION TO GUIDE THE CHANGE CREATE A VISION & STRATEGY FOR CHANGE FIND THE IDEA THAT FITS THE NEED CREATE CHANGE TEAM FOSTER IDEA CHAMPION

13. RESISTANCE/ BARRIERS TO CHANGE EXCESSIVE FOCUS ON COST FAILURE TO PERCEIVE BENEFITS LACK OF CO-ORDINATION AND COOPERATION UNCERTAINTY AVOIDANCE AND FEAR OF LOSS PARTICIPATION AND INVOLVEMENT FORCING AND COERCION

14. DOMINO'S PIZZA, INC. COMPANY PROFILE THE VISION Number one in people. Number one in pizza.     THE MISSION Sell more pizza. Have more fun.    

15. DOMINO'S PIZZA, INC. COMPANY PROFILE PRODUCTS With ingredients you can order a custom pizza Pepperoni, Chicken, Ham, Ground Beef, Pineapple, Mushrooms, Bacon, Italian Sausage, Onions, Olives, Peppers, Jalapenos, Chorizo  

16. DOMINO'S PIZZA, INC. COMPANY PROFILE OPERATIONS: The company operates in three segments: Domestic Stores & Franchise Supply Chain International

17. DOMINO'S PIZZA, INC. COMPANY PROFILE BUSINESS MODEL: Domino’s has developed a strong business model through its years of operations. Its business model is comprised of domestic and international franchise royalties and fees, revenue from supply chain and revenue from retail sales at Company-owned stores. The franchise system of Domino’s has also continued to produce strong and consistent earnings for it through royalty payments and supply chain revenues. Domino’s has developed a cost efficient store model that is mainly delivery and carry out oriented. At the store level to the simplicity and efficiency of its store operations gives it a significant advantage over its competitors.

18. DOMINO'S PIZZA, INC. COMPANY PROFILE INVESTMENT IN TECHNOLOGICAL INNOVATION: Domino’s is pioneer in technological Innovation clearly stated in its History –Colum, Innovations - in product line/ Technology/ Services/ & Marketing-.  

19. CHANGE & INNOVATION IN DOMINOS THE DRIVING FORCE The most influencing driving force for Dominos is advancing technology. The CEO of Dominos Said “We look themselves as Technology Company” TYPES OF CHANGE Continuous change – Domino’s adopt the continuous change strategy all the time busy in continuous change, busy in innovations.

20. CHANGE & INNOVATION IN DOMINOS THE STRATEGIC CHANGE TYPE (Technology, Product & Services, Strategy & Structure and culture) Dominos has been focusing on Technological change since its incorporation; moreover little change in product also observed. ORGANIZATION CHANGE VS ORGANIZATION INNOVATION Domino’s always come up with an organization innovation and considered as a pioneer in technological innovation

21. CHANGE & INNOVATION IN DOMINOS TECHNIQUES FOR ENCOURAGING TECHNOLOGICAL CHANGE creative department and bottom up approach Domino’s CEO Said, “we have 800 people in head office and 400 are dedicated to sort big data and analytics and for experimentation”. Moreover Domino’s highly appreciated the bottom line employees’ suggestions in product and services. The current name of Domino’s suggested by a delivery boy.

22. CHANGE & INNOVATION IN DOMINOS HOW TO BRING CHANGE Large group intervention the representative of all stakeholders including internal departments, one partner and key stakeholders. Domino’s CEO said, “ first organization to look at things like conversational commerce, our relationship with the Amazon, Alexa, integration with social media platforms, these are the things that our customers wants and crave and what keep them coming back to us.”  

23. CHANGE & INNOVATION IN DOMINOS TECHNIQUES FOR OVERCOMING RESISTANCE TO CHANGE Domino’s management courageously overcome this barriers as Domino’s CEO said “change is actually about the balance between risk and rewards. It’s actually about the option that are available to balance risk with rewards, rather than getting to end of that”. Domino’s create a vision and strategy for change “to be highly competitive, highly agile, speed and innovativeness are really important to organization, I am hugely exciting by things that are happening. We are chasing the shadow of technological.” said by Domino’s CEO

24. CHANGE & INNOVATION IN DOMINOS DOMINO’S INNOVATION PROFILE (THE CONTINUOUS - INCREMENTAL INNOVATION) 1960-69 Tom revitalized the image by changing the name to Domino’s Pizza. 1980-89 The history of Domino's Pizza was to change when the Deep Pan pizza was introduced, for the first time in twenty five years 1990-99 Domino’s introduce the first non-pizza item to their menu, it was bread sticks. Domino Pizza introduce new policy and stated that if a customer was unhappy they could have a new pizza or a refund. 2000-09 Domino's introduces Cinna Stix ® , a new permanent dessert item, to its menu. Domino's launches "Get the Door. It's Domino's." advertising campaign.