Stefan Drew - The Marketing Magician

FE, Education & Business Marketing: Quick, Effective, Low Cost Marketing

Stefan Drew - The Marketing Magician

Change Management Part Five: The Budget and Finance Angle

An important Change Management consideration virtually every project needs to include is that of involving of budget and involving the finance team.


There are two considerations: –


1. Budget; both the savings people can make and how they can get a better return for their budget once the change has been made and ….


2. Getting the finance teams support in implementing change.


The finance team can also arbitrate over cost savings, expenditure and the financial impact that will ensue during and once change has been implemented.  More important; they will also understand the financial implications if change doesn’t take place. 


Getting the FD involved from the outset can be one of the most important first steps that can be made during the scoping and planning stages of the change.


The Change Management Impact on the Customer


There is no doubt that change always impacts the customer in some way.  It might be you make savings and, as  a consequence, you don’t have to raise prices.  It might be the savings are so big you can cut prices.


It might be the changes made lead to product or service quality benefits that in turn will lead to more sales and more profit.  FDs understand these things and can support your case with the board or workforce.


So consider budgets and finance throughout the change management process and get people on board in this way.



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