The impact of organizational change on HR management practices and company performance

Research Paper (undergraduate) from the year 2017 in the subject Business economics - Business Management, Corporate Governance, grade: MA, Oregon State University, language: English, abstract: In recent years, the global economy is undergoing profound structural changes. Globalization, the constant change of inter-sectoral boundaries and even their disappearance, the intensive change of technology, the promotion of knowledge in the first place among the driving forces of competition, the emergence of new organizational forms, mass mergers and acquisitions are forcing modern organizations to constantly change. Changes are becoming a key element of modern theories of organization and strategic management. As part of the resource approach to the organization, one of the key competitive advantages of a company is the presence of its dynamic abilities - the ability to realize the need to change, and then to reconfigure internal and external competences to use the opportunities created by the rapidly changing environment. Thus, modern scientists believe that the ability to change on time and in the right way becomes one of the determining factors for the survival and success of any organization. Changes constitute the meaning of modern organizations activity. In a constantly changing environment, their development is not only a result of natural evolution but also the result of a focused effort by management and personnel service. One of the forms of development of an organization is represented by organizational changes, which, in turn, predetermine changes in the content of management activities: it is less focused on administration and more on changes. The conditions of organizational change require 'creative management' that promotes the generation of new knowledge, ideas, and their natural perception by managers at all levels and staff. In line with this, organizational changes are becoming one of the most significant factors in improving the management of an economic entity, which necessitates modernizing approaches to human resource management and giving new status to HR services. At the same time, organizational changes not only provide for meeting existing needs but also create new needs for employees and enterprises.