In order to ensure the successful introduction of change, it is essential that change manager know how to manage the stakeholders of that company. To manage the stakeholder, first, we need to identify the key stakeholders and adopt a proactive strategy on them.(p.147). in this case, the key stakeholders are, internally, the management, shareholders, employees, and externally, the investors, customers, suppliers and the government regulation and law. Second, identify the attitude and influence of these stakeholders. For example, the investors are very powerful stakeholders at the current situation as now we want to enter a new market, China and we need their money. However, Wall Street was cautious about the stock and its shares is traded at a discount to comparable restaurant. What they are concerned about is whether our company can grow stably after it enter the new market, China. So their attitude is very clear that they want us to use the similar practices in China, just as what we use in Amercan so that the company is less risky. Finally, a stakeholer mapping can be done.
Communication and leadership
According to the article, there are 2 key arguments between management and Louis Chen. One is whether we should change the store desgin and the menu completely in China. The other is about the company’s planning and reporting processes and the financial report format.
I think these two arguments result from the problem of communication and leadership. For example, the first argument about the store design, is because Chen doesn’t know much about our company’s culture and vision. Levendary was bulit on a culture that emphasized “delighting the customer” and our vision is to provide customers with food using high-quality ingredients and a service in a comfortable, friendly environment. However, we never communicate this with Chen and the former CEO, Leventhal just told him to establish a strong market position throughout...