The economic downturn and turbulent economic condition has caught many organizations off-guard. Building effective and high performing organization is a biggest challenge before them. Organizational effectiveness is one condition for success. The importance of successful implementation of organizational development (OD) in today's ever-expanding and constantly evolving dynamic world is recognized by most of the successful organizations. A key component of building an effective organization is to ensure effective implementation of organization development values and assumption, understanding organizational structure, culture, climate and its effect on behaviour. This article examines the process, phases and approaches of OD. In addition, it discusses few OD intervention strategies that influence an organization's improvement program in a change agent-client system relationship.