Challenge to keep companies competitive
– Perhaps the greatest challenge business leaders face today is how to stay competitive amid constant turbulence and disruption
Change affects every company, but disruptions re-define the rules of the game and alter the competitive landscape forever
Many business leaders face a challenge to keep their companies competitive amid constant turbulence and disruption. Companies such as Borders, Blockbuster, Kodak, Neckermann and Schlecker have recognized the need for strategic change, but couldn’t drive the organizational change needed to sustain business success.
Unfortunately to many companies are stuck in the jar – Not being able to let go of the past, of the past success, of clinging on to it, almost always creates Win-Lose situations. It is blocking the opportunity to develop and grow.
It often plays out the same: an organization, facing a real threat or eyeing a new opportunity, tries-and fails-to cram through a major transformation using a change process that worked in the past.
The time has come to rethink strategy
The convulsions of the past years have left many business people asking the most fundamental questions about their companies:
- Will our strategy work in this environment?
- What must we change, and what must we not change?
- Do we need a new business model?
The time has come to rethink strategy:
- What is our core?
- How is today’s unprecedented environment changing our customers and their behavior?
- Is our industry being deeply restructured, and if so, how will it affect us?
A constant opportunity to evolve the business
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 awareness – A company’s ability to redefine itself as necessary
- Change agility – A company’s ability to engage people in pending changes
- Change reaction – A company’s ability to appropriately analyze problems, assess risks, and manage the reactions of employees
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Shaping strategy – Constant turbulence and disruption — https://www.torbenrick.eu/t/r/rnm
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