Organizations of today’s world are expanding quite rapidly and they are getting bigger and stronger because they are adopting new and modernized methods of working. They are enlarging their horizon by adopting newer techniques and in this way they are benefitting from it in both the short and the long run. Terminologies like offshore outsourcing, management by objectives, employee empowerment, supply chain management, value chain management etc are changing the conventional approach of business and the phenomenon of managing things. Competitive advantage is achieved by implementing modern strategies and organizations are benefitting from it and they are achieving their desired goals through newer strategies.
There are certain important elements that are quite helpful in the implementation phase of an organization like organizations are usually treated as machines, organizations are treated as organisms, organizations are work as transformational bodies etc (Cameron and Green 2004). Organizations that are termed as old fashioned companies are the ones that stress a lot on command and control messages and they are the ones that manage their ‘white space’ within the organizational charts. However, organizations focus a lot on issues like change management and they manage difficult situations in their organizations through proper change management strategies. In this chapter emphasis is laid on the fact that what actually is change management and what are the approaches of change management in an organizational structure. In the similar manner change oriented aspects are discussed with respect to the survival or organizations and development in the scenario of economic downturn. The economic downturn and the aftermaths of this disaster are discussed in this chapter.
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