Many organizations are in the process of changing their business models
Year after year, the list of companies that no longer exist because they were unable to evolve continues to grow. It includes such names as Blockbuster, Borders, Kodak, Polaroid, Neckerman, Schlecker etc. And companies such as B&O, Nokia, RIM, Hewlett Packard, Dell etc. are struggling with disruptive change.
Increasing competition, globalization, technological changes, financial upheaval, political uncertainty, changing workforce demographics, and other factors are forcing organizations to change faster. No wonder that driving and managing change will remain the number one priority for leaders.
Organizations are forced to change faster
Many organizations are in the process of changing their business models and services, going global, or looking for ways to be more competitive. Leaders will have to operate under these constantly evolving conditions for the foreseeable future.
But the reality is that many change efforts fail. Many of these failures can be traced to these common mistakes:
Is your organization adapting fast enough?
Companies most likely to be successful in making change work to their advantage are the ones that no longer view change as a discrete event to be managed, but as a constant opportunity to evolve the business: Change readiness – the ability to continuously initiate and respond to change in ways that create advantage, minimize risk, and sustain performance.