Southern Miss Business October 2023 Newsletter

Changes in Latitudes, Changes in Attitudes: Managing Organizational Change Through the Islands and Highlands

Today's organizations operate in an environment of constant and rapid change. To thrive in this environment, organizations must be agile, adaptive, and responsive. They need strong change management practices and the ability to pivot quickly when necessary. Organizations that can effectively navigate these rapid changes are more likely to succeed in today's dynamic landscape. This is particularly challenging given research and surveys have shown that a significant percentage of organizational change initiatives fail. One frequently cited statistic comes from a study by McKinsey & Company, which found that about 70% of organizational change efforts do not achieve their intended outcomes. Another often-cited study is from John P. Kotter, a leading authority on leadership and change, who suggested as much as 75% of change initiatives fail. While there is no universally agreed-upon percentage and some argue that these studies overstate the failure rate of organizational change, it is widely accepted that most organizational change initiatives fail.

While managing organizational change has always been difficult, I believe it is currently even harder to successfully manage change because today's businesses and corporations face more rapid and complex changes than in previous times. Examples of factors influencing the pace and complexity of change include: the rapid development and adoption of technology; increased globalization/interconnected global supply chains; pressure to respond quickly to evolving customer preferences and market trends; continually evolving regulatory environments; pressure to be environmentally and socially responsible; significant changes in demographics; increasing frequency and sophistication of cybersecurity threats; vast amounts of data and information available to use for decision making; shorter product lifecycles for many goods and services; and the speed of communication, facilitated by social media and the internet.

All this makes me tired just reading it and I'm sure there are a lot of industry-specific factors that can be added! Managing successful organizational change can be a complex and challenging process, but there are several key principles and strategies that can increase the likelihood of a successful transition. Here are some important keys to managing organizational change effectively:

• Clear Vision and Purpose: Start with a well-defined and compelling vision for the change. Ensure that everyone in the organization understands why the change is necessary and what the desired future state looks like.
• Strong Leadership: Effective leadership is crucial for change success. Leaders must champion the change, demonstrate commitment, and lead by example. They should also provide the necessary resources and support.
• Change Management Team: Create a dedicated change management team or department responsible for planning and executing the change. This team should have expertise in change management methodologies.
• Engagement and Communication: Communicate the reasons for change transparently and consistently. Engage employees at all levels of the organization, involve them in the decision-making process, and provide opportunities for feedback. For guidance on crafting the change message, check out Armenakis & Harris (2002).
• Employee Involvement: Involve employees in the change process. Encourage them to participate in designing solutions and give them ownership of the changes within their areas of responsibility.
• Training and Skill Development: Provide the necessary training and resources to help employees acquire the skills and knowledge needed to adapt to the changes. Training should be ongoing and relevant.
• Flexibility and Adaptability: Be prepared to adapt the change strategy as needed. Be open to feedback, and make adjustments based on the evolving circumstances and feedback from employees.
• Conflict Resolution: Anticipate and address resistance and conflicts that may arise during the change process. Establish mechanisms for addressing concerns and resolving disputes.
• Celebrate Small Wins: Acknowledge and celebrate small successes along the way. Recognizing and rewarding progress can boost morale and motivation.
• Sustainability and Integration: Ensure that the changes become part of the organization's culture and are sustained over the long term. Embed the changes in policies, procedures, and daily practices.
• Change Metrics, Tracking and Feedback Loop: Establish clear metrics and key performance indicators (KPIs) to track the progress of the change initiative. Regularly assess and communicate the results. Create a feedback loop for ongoing assessment and improvement. Encourage open communication and actively seek input from employees.
• Resources and Support: Allocate the necessary resources and support for the change initiative, including budget, time, and expertise.
• Patience: Understand that change takes time, and it may not always proceed as planned. Be patient and persistent in pursuing the desired outcomes.

Successful organizational change has never been easy but its even tougher in today's business environment. It requires a thoughtful, holistic approach that addresses not only the technical aspects of change but also the human and cultural elements. By following these key principles, organizations can increase their chances of managing change successfully and achieving their desired outcomes. If you’ve had recent experience managing organizational change, I’d be interested in your insights and observations.

Note: The title of this column gives a little nod to Southern Miss alumnus, Jimmy Buffett, who died on September 1, 2023. I don't think Jimmy cared much about organizational change, but there was wisdom and humor in his songs which we can all use when going through change.

Halloween Hotcakes

Things got SpOoKy at Southern Miss Business on Halloween! The annual ghoulish gathering at Scianna Hall had a new theme this year—Halloween Hotcakes! Business students, faculty, and staff sank their teeth into delicious pancakes and all of the fixings. A costume contest was also part of the festivities where two lucky winners earned frightening trophies for Best Costume and Most Creative. Plus, business student organizations setup to hand out candy and assist students in discovering more exciting opportunities to get involved!

Sport Management Symposium

The 2023 Sport Management Symposium welcomed more than 60 high school, junior college, and current undergraduate students to explore the opportunities that a Sport Management degree from Southern Miss can offer. Highlights from the day include a tour of Southern Miss sports facilities, a discussion from Southern Miss alumni about their experience in the program and beyond, a networking session with various organizations in the sport industry, and a panel discussion made up of professionals in the industry.

Southern Miss Cruisin'

The second Annual Southern Miss Cruisin' was a huge success, with twice the attendance compared to last year's inaugural event. Students, faculty, staff, alumni, and community members joined the School of Leadership for the event on the Gulf Park campus to enjoy the beautiful weather and admire the classic cars parked on campus.

Southern Entrepreneurship Program Statewide Tour Visits

The Southern Entrepreneurship Program (SEP) statewide tour is in full swing, and will plant seeds of entrepreneurial thinking in the minds of 230 high school students around the state this fall. The SEP is a statewide initiative that’s inspired over 6,000 high school students since 2007 in entrepreneurial ways, whether they pursue entrepreneurship itself or apply the highly valuable skills gained through the SEP like problem solving and critical thinking in college or in the workforce.

During tour visits, students at the Mississippi School of Math and Science and Ocean Springs High School dove into the concept of human-centered design. Through these lessons facilitated by Assistant Director of The Hatchery, Serena Buckley, students recognized the vital importance of conversations and empathy when creating solutions to problems. This statewide tour will continue in the spring semester among the regional and statewide business plan competitions.

Local Celebrity Guests Visit for Coffee w/ an Entrepreneur

This month was full of local celebrity guests in the Inspiration Lab! The Hatchery featured the stories of co-founders and co-owners of the Lucky Rabbit, Abbie and Brandon Thaxton, and co-founders of The Hardy Street Boyz, Jamie Massengale and Drew Wooton. Students learned important lessons from Abbie Thaxton, like the need for younger generations to dig deep into community needs and solve community problems. Drew Wooton encouraged students to remember that entrepreneurship is a process, regardless of what you do, not necessarily a way out of work, while Jamie Massengale recalls the vital importance of finding people you work well with.

Target Executives Speak for American Marketing Association Week

During the week of October 23-28, the School of Marketing's American Marketing Association hosted Marketing Week, full of engaging activities for all students across campus. Discovery of an Internship invited a panel of students who had recently completed internships to share their experience and tips for students looking for similar opportunities. Target executives provided tips on personal branding and authenticity. Additionally, AMA representatives hosted fun activities like painting the Little Rock at the front of campus, apparel design voting, giveaways, and content creation challenges!

Eli Lilly Accepting Applications for Summer Internship

Lilly representatives hosted a meet-and-greet for students interested in learning more about the Lilly Undergraduate Sales Internship. During the meet-and-greet, students were able to ask questions of the Lilly Sales Representatives and were served a light lunch.

Waffle House Hosts Waffle Wednesday in Scianna Hall

Waffle House representatives made and served fresh waffles and coffee in Scianna Hall this month. Additionally, they provided advice for students on job seeking, resumes, interviews, and job fairs.

Business Career Services Lunchtime Workshop Series

Business Career Services welcomed several professionals to participate in the Lunchtime Workshop Series:

• Sarah Clanton, campus talent acquisition manager with Cintas, lead a resume workshop. Cintas also hosted a site vite in Jackson, Miss. led by General Manager Brad Jones.
• Darian Jones, talent acquisition specialist with Sherwin Williams, hosted an information table in the Lock Commons and spoke to business classes about internships and career opportunities.
• Casey Schwingle and Lauranne Tomaszewski, recruiting directors for Waffle House, conducted the “How to Work a Career Fair” workshop while they were on campus for Waffle Wednesday.

Zimmer Biomet Product Demonstration

Zimmer Biomet representatives hosted a meet-and-greet and product demonstration for Healthcare Marketing students interested in the medical device industry. Southern Miss alumni Chase Burdeaux and Brandt Warren, as well as Sales Manager Steve Hass led the product demonstration.

Student Organization Guest Speakers

• The USM Student Center for the Public Trust chapter welcomed Jan Farve, Human Resources Director with Merchants Foodservice, who joined a discussion on ethics in job seeking.
• The USM Beta Alpha Psi chapter welcomed several guest speakers this semester from organizations such as Bridgestone Americas, Inc., FORVIS, Donnell CPA Group, and Horne.