1.CHANGE AND LEADERSHIP
Change is inevitable. As Albert Einstein states, "…there is only one constant in this
universe, and that constant is …change".
Accordingly organizations also must recognize change as a normal management process,
now more than ever, since the corporate world is in a state of constant change. The ways of
change management for different organizations are probably not the same, but the purpose
of change management is the same, that is, making the organizations more effective,
efficient, and responsive to the ever changing environment.
1.2 THE NEED FOR THE CHANGE
Change is often triggered by external developments, such as increasing global competition,
the emergence of new technologies or the recent economy falls. Clearly these external
triggers are usually beyond the influence of the organization.
Proactive companies do well in anticipating and responding to these developments as they
translate them as either threat that must be overcome or an opportunity to be grasped. But
at some point all other companies also have to follow the proactive companies.
1.3 COMPANIES WHO FAILED TO CHANGE
It's too easy for a company to get stuck in its ways of doing business. But they can't just
focus on the present in the ever-changing corporate world if they hope to still be alive and
well into the future. As a result, must be looking and planning ahead regularly. When they
don't change, they struggle and eventually die.
Detroit city case is a good example. When the Detroit companies became big, they got stuck
in their processes which had worked for them until then. Even when the market has shifted
they didn't accept the change. This resulted in them being bankrupted and the Detroit city
named as the most miserable city by Forbes in 2013.
Another example is Kodak, over a century old company who had too much pride to change
was the market leader in 90's and actually the inventors of the digital cameras but to put
it away for years…..when the company started developing its digital strategies, it was too
late, the market has completely shifted. Now they also has filed bankruptcy.
1.4 FORECES BEHID THE PROACTIVE COMPANIES WHO SUCCESSFULLY LEAD
The two main pillars of proactive companies are innovation and leadership.
Innovation distinguishes between a leader and a follower" - Steve Jobs, Founder and CEO,
Innovation pays a huge role in change. In the current...