Change and being able to adapt to change is now part of doing business. I was once told by a colleague, if you don’t study or improve your knowledge and skills, you will be left behind. To ensure long-term survival and prosperity in this ever-changing environment, organisations need to be prepared to adapt to new technologies and services. Disruption is happening everywhere. Businesses of every size and in every industry should be prepared to deal with technological disruptions, shifting consumer expectations and sudden external changes. Being adaptable is not dependent on the size or age of a business, it’s about looking outwards, embracing external change and letting disruption lead you to growth and gaining a competitive advantage.
“If you’re not ready for change, then growth is guaranteed not to happen. Your business has a life expectancy of about 5 years.”
Roger La Salle, futurist and business commentator
What can businesses do to help them adapt to change?
• Build robust, flexible processes and systems
• Deliver products and services that customers want
• Adapt to the external environment
• Empower people and foster a culture of change
• Leadership support and change
Strong leadership support to adapting to change is a defining characteristic of businesses with the ability to adjust to new technologies and services. Organisations that have consistently good leadership support for change initiatives in all four key business areas – processes and systems, products and services, people and culture, and external environment – are more likely to succeed with continued growth and a competitive advantage.
Organisations which are prepared for change aren’t constantly upgrading to new systems. Rather, they are choosing robust, flexible systems that enable change – and invest in maintaining their ongoing capability for change. Change for some sparks fear, but I encourage all business owners to embrace change and have an open mind as to what business growth and opportunity this may lead to.