Caught in a constant cycle of change, the desire to stand still for a while to catch up is understandable but risky.
Drivers for change come both from within the organisation and from the external environment, and they never cease. Innovation makes a product obsolete: abacus to slide rule to calculator to mobile app. Tastes change: no more brilliantine was bad for hair oil producers and antimacassar manufacturers alike. The temptation to stay with the tried and tested is strong but complacency is dangerous.
Failing to spot change and anticipate its consequences by diversifying or divesting early can decimate or destroy a company. Who now takes a separate camera on holiday? Who needs a physical roll of film to produce a physical photograph? What happened to their manufacturers?
Claire Smith discusses the rational and need for change, and how to change successfully.
Read the full article on LinkedIn.