Admin's other articles

4349 The World without Bankruptcy Laws

Bankruptcy is one of the natural states which a company may find itself in. Entrepreneurship is primarily about taking risks. When companies take risks, some of them succeed, whereas others fail. Hence failure is a natural part of the business. However, many critics of bankruptcy laws believe that there isn’t a need for an elaborate […]

4348 The Wirecard and Infosys Scandals are a Lesson on How NOT to Treat Whistleblowers

What is the Wirecard Scandal all about and Why it is a Wakeup Call for Whistleblowers Anyone who has been following financial and business news over the last couple of years would have heard about Wirecard, the embattled German payments firm that had to file for bankruptcy after serious and humungous frauds were uncovered leading […]

4347 Why the Digital Age Demands Decision Makers to be Like Elite Marines and Zen Monks

How Modern Decision Makers Have to Confront Present Shock and Information Overload We live in times when Information Overload is getting the better of cognitive abilities to absorb and process the needed data and information to make informed decisions. In addition, the Digital Age has also engendered the Present Shock of Virality and Instant Gratification […]

4346 Why Indian Firms Must Strive for Strategic Autonomy in Their Geoeconomic Strategies

Geopolitics, Economics, and Geoeconomics In the evolving global trading and economic system, firms and corporates are impacted as much by the economic policies of nations as they are by the geopolitical and foreign policies. In other words, any global firm wishing to do business in the international sphere has to be cognizant of both the […]

4345 Why Government Should Not Invest Public Money in Sports Stadiums Used by Professional Franchises

In the previous article, we have already come across some of the reasons why the government should not encourage funding of stadiums that are to be used by private franchises. We have already seen that the entire mechanism of government funding ends up being a regressive tax on the citizens of a particular city who […]

See More Article from Admin

It is a long established fact that a reader will be distracted by the readable content of a page when looking at its layout.

Visit Us

Our Partners

Search with tags

  • No tags available.

Who doesn’t like change and who doesn’t want to change? These are certainly truisms in the 21st century landscape where businesses proclaim their commitment to change and exhort their employees to “Be the change you want to see”.

However, having a vision and mission statement that commits to change is different from actualizing the change. There are numerous examples of so-called “paradigm shifters” who have flattered to deceive.

The best known example of this is the launch of Hotmail as the world’s first free web based mail service.

There was lot of hype surrounding Hotmail and its legendary founder, Sabeer Bhatia, became an icon of sorts. Now, a decade later, how many teenagers who have entered the cyber world in the last few years even know about Hotmail?

So, the point here is that having a great idea is just the first step. And executing it to actually creating a shift in the way things are done is the next step. Companies often do step 1 and step 2 pretty well. You might very well ask what the problem is.

The problem is the sustainability aspect of change. Or, put another way: How to create and sustain change by not losing the momentum? This is the challenge that companies face in the contemporary world where your last performance matters more than anything else.

So, investors and the general public eagerly await the new product launches and the “Next Big Thing” from Microsoft, Google or Facebook and are disappointed if the offering does not live up to their expectations.

It is no longer the case that companies can ride on their reputations created over a legacy system. Now, they have to constantly innovate and do better or even do best each time they go to the market.

With the ever shortening product cycle and the dwindling time to market period, companies are literally engaged in a “race to the bottom” as far as their competitors are concerned.

So, how does one sustain the momentum?

  1. The first thing to do is to create an atmosphere in the company that makes the organizational culture “Change oriented” which makes automatic the process of listening to the market and responding appropriately.

  2. Next, invest in people who can be “change agents” and then make all efforts to retain them and nourish them. Creation of an organizational culture and nurturing change agents go hand in hand.

  3. The final step is to incorporate change into the organizational DNA so that change becomes a constant in the way the company does business. Taken together these steps represent the maintaining of the change process and building on the momentum created by the initial burst towards change.

It needs to be remembered that sustainability is important not only from the environmental perspective but also from the organizational commitment to change.

In conclusion, the “change game” ought to be practiced by companies if they are to remain abreast of the latest trends and to make the marketplace their own.

Article Written by

Admin

Leave a reply

Your email address will not be published. Required fields are marked *

Related Posts

Why the Digital Age Demands Decision Makers to be Like Elite Marines and Zen Monks

Admin

Personal Grooming Tips for Women

Admin

Politics in Virtual Workplace

Admin