We live in an era of profound and accelerating disruption.
The world is moving so fast nowadays that the man who says it can’t be done is generally interrupted by someone doing it – (Elbert Hubbard)
Many companies have had some tough years with recession, increased competition, changing consumer behavior, rapidly shifting technologies and emerging disruptive business models. Many companies are struggling to deal with the challenges.
Did you notice when:
- When online movie rental websites such as NetFlix startet eroding Blockbuster revenue streams?
- When The Kindle ravaged the publishing business?
- When Groupon threatened retail?
- When Expedia obsoleted travel agents?
- When collaborative consumption started to disrupt traditional business models?
Leaders are confronted with an increasing rate of change and complexity and need to find ways to deal with it. Leading companies through change has become different from how it was ten to twenty years ago.
And it is not going to slow down – on the contrary!
The Economist Intelligence Unit surveyed 567 senior executives across industries in late 2011 on their expectations of the impact that technology will have on business between now and 2020.
The survey results highlight the reality that the general consensus amongst senior business leaders is that our future is more uncertain and up for grabs than it has been for most of the last century: 37% of leaders surveyed believe that they won’t be able to keep up with the pace of change.
Image above from the “How will you work in the future?”
That’s why managing change has to be a core competence in the future – change readiness is the new change management: The ability to continuously initiate and respond to change in ways that create advantage, minimize risk, and sustain performance
Organizations, and the people within them, must constantly re-invent themselves to remain competitive. Sustaining success depends on an organization’s ability to adapt to a changing environment.
Short URL & title:
Keeping pace with future change — http://www.torbenrick.eu/t/r/tct
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