Change Management Impact

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Change Management Plan- Ralph Lauren Corporation Name: Institution: Date: Change Management Plan- Ralph Lauren Corporation Introduction Change is inevitable for organizations wishing to stay competitive in their industry and markets. The frequent shuffling of the management and strategies can be among the changes a company can employ to maintain and improve its market share. Ralph Lauren Corporation is a company dealing with men and women wear. Last year the company announced some leadership changes that saw it unveil the CEO position in Novembers last year. The position was created to support the growth of the business in the global market that is increasingly becoming complex. Furthermore, the chairmanship and CEO position was meant to tap any arising investment opportunities that can create a competitive advantage for the company. The leadership change affected most of the human resource functions since several roles are now under the new position including assessment and progress reporting. According to the HR leader of the company, since the CEO position became operational, there has been no overriding of roles in the company and roles distribution in the company has been enhanced hence increasing their productivity of the workforce. The Purpose of the Change Owing to the increasing competition in the clothing industry the company decided to reshuffle its management to cope with the demands. Furthermore, according to the HR manager, the company had started losing some of its crucial consumers to other businesses that produce substitute goods to theirs. These lead to a reduction in the revenues of the company making it harder to compete with the rivals

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