Change management is the systematic approach to transitioning or transforming organizational objectives, processes, values, or technologies. It depends on four core principles: understanding change, planning change, implementing change, and communicating change. Effective change management requires securing sponsorship, identifying stakeholders, communicating the need for and benefits of change, putting new practices in place, and supporting people throughout the transition. Managing change well creates an open-minded environment that allows an organization to change and innovate more easily over time.