Each of these concepts plays a unique, yet complementary role, reflecting “Unity is diversity”
“Change” represents perhaps the most fundamental concept, without the possibility of change, the very idea of entrepreneurship and innovation would have little meaning. On the other hand “Innovation” as a product of science and technology is today the foundation of political and socio economic development, Characterizing an information and knowledge based society. Yet the process of innovation and ‘Change’ is driven by entrepreneurial spirit.
‘Change Management’ and Human Factors:
Change is a promise and opportunity. Internal reasons for change is triggered by external factors, it is reactive. Change begins and ends with people, so as many people as possible should be involved with the change Process, particularly those likely to be affected by change. Managing change involves change in attitudes, organizational culture, and selective and appropriate tools and techniques. It may also be required to explain why such changes are necessary. Because family, society and community are all conserving institutions, they like stability and hence try to prevent change and at least let it down.
However modern organizations must be prepared for ‘Innovation’. According to Schumpeter innovation is a ‘creative destruction’.
Growth and development of an economy is largely a function of innovation. Society and business are becoming more knowledge- based, competition is becoming increasingly global, technology is developing quickly and the aspirations of the workplace and their values are changing the entire business environment. .
To survive and succeed an organization must be flexible, It must have more ‘Surface’ exposed to the environment and with a host of sensing mechanism for recognizing emerging changes and their implications. But it is also true that change is disturbing when it is forced on an organization. It is exhilarating when it is done by the organization at its own Speed.