You will prepare and submit a term paper on Managing Change by Managing Risk. Your paper should be a minimum of 3000 words in length.

You will prepare and submit a term paper on Managing Change by Managing Risk. Your paper should be a minimum of 3000 words in length. Technological development means keeping the technology up to date for the company in order to remain competitive in the market. Competitive environment forces the companies to retain good quality of the products and services in order to improve customer satisfaction. 3.2 Internal Forces of Change Internal forces of organizational change include such forces, which force the change to occur inside the company. These changes are very significant in order to increase employee satisfaction and employee commitment towards their job responsibilities. The changes include change in the working atmosphere, change in employment rules and regulations, and change regarding employee retention strategies. 4. Risk Management Harrison (n.d.) states, “Change is inherently ambiguous, and those who deal creatively with change will have a high tolerance for uncertainty”. In case of organizational change, we can say that organizational change needs proper management of risks in order to be successful. Francois (n.d.) states, “A change management process is a series of business practices used to control and manage change within a large system or organization”. Risk management is one of those business practices that are needed to implement organizational change. “Much of risk management work is focused on the management of risk in a 'business as usual' and relatively stable environment” (Anderson 2004). Risk management is a process, which is used to identify and measure the risks being faced by a company or a firm. Risk management refers to the concept of keeping the risks under control so that they do not create any kind of dangerous situation for the company.