Managing Radical Change in Young Companies : Insights for Successful Transformation and Growth

Sammanfattning: Managing radical change is a critical undertaking for young companies aiming to achieve growth and adapt to evolving market dynamics. This research explores the strategies, models and challenges involved in navigating and implementing significant organizational changes. The research examines the root causes of radical change failures and investigates the impact this might have on employees and organizations. The identified key factors for failure in radical change management are among others: lack of communication and information, lack of training and support, lack of proper documentation, and lack of skilled leadership and proper performance management. The research also found that poorly managed change implicates employees' well-being and grows issues of personal matter, such as performance, competence and trust-related problems. Identified implications for organizations are among others; lack of controls, damaged public relations, inefficient processes and decreased performance. Finally, the research identified the potential need for creating a new management theory that would support young companies in managing radical change specifically.