Any business decision you make will affect several different groups of people that may have a stake in your business. While that stake may not be financial, any changes in how you operate the business will affect others such as employees, suppliers and customers. Before making any changes in how you conduct your business you need to brainstorm how any changes you make will affect the stakeholders.
In some businesses it may be a good idea to meet with a representative of all potentially affected parties, to determine the positive and negative consequences of your decision. Making decisions without considering all of the ramifications may be detrimental to the future of your enterprise.
By looking at how each segment of your stakeholders will be affected you can also determine how the dynamics of your business interact with each one of the groups.
Have them draw up a list of how any proposed change will affect them, both positively and negatively and then sit with them all to discuss why the changes are being made.
If the changes are occurring simply because you feel it's time for a change, there will be a failure in your business. Additionally, if you are making changes just because you are the business owner without thinking things through, you might irritate most of the segments involved in how your business is being run.
You will need to be involved in open and honest communications with everyone, especially employees who may not see the positives in many changes. People are often reluctant to change and can form a negative attitude if they are told this is how it is going to be from now on.
This can be very critical, especially if changes affect their work schedule or responsibilities and may impact their earning potential, they may not greet the proposed changes willingly.
By explaining and having them understand why the changes are needed for the future of the business, which may result in better job security, they may be more willing to help make the changes.
Your customers may be negatively affected if prices will increase or your hours of operation will be reduced. If you are planning a change in the product mix they may not benefit from many of the new items and they will usually not accept a decrease in your customer service level.
If you are changing your delivery hours or the hours during which you will accept shipments, it can have an affect on many vendors. If they are unable to rework delivery schedules for their other customers around your new demands, you may be looking for new suppliers.
The best thing that can come from meeting with all affected partners is having them understand why the changes have to be made, getting them involved with making the change and making them a partner in how the change is implemented.
By including them in the brainstorming process, they will feel more a part of the business and might be more receptive in staying with you as the changes are instituted.
Godfrey Thaxter is a Marketing Consultant who provides
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get started right with their internet home business.
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