Introducing the right business change in corporates…

There are many articles referencing lean, disruption, agile, scrum, performance, innovation, Big data, customer-centricity, cloud-technology, and many more ways to keep up with the fast-changing global business landscape. The growth of social media has created numerous additional channels, small entrepreneurs and start-ups are able to challenge the “large” corporates through the digital environment, and consumers have a stronger voice than ever before

Having initiated and effectively implemented many sustainable strategic initiatives in large corporates over the last 15 years, I have seen that the essence of how corporates address change hasn’t changed. Yes! I agree, corporates have been changing, as there is a stronger focus on business process efficiency, organisations have shifted more back- and middle-office activities to low wage countries to support cost reductions, and technology has played a large role in creating standardisation, harmonisation and visibility across the organisation to quickly reach out to global audiences and deliver an identical consumer experience. As innovating, performing and adapting has always been part of doing business, many corporates have been using the same change management methods in dealing with keeping up with the fast-changing global business landscape.

So what has changed in the recent years? The speed of change is continuously increasing. Large corporates are taking generally too long to change.  To increase their adaptability and innovation speed, they need to revisit their change methods, and, a number of corporates have started to set-up innovation departments to learn from the start-up environment, and define harmonised processes to deal with the “new” business speed change, reaction speed to support social media and consumer demands, disruptors and innovators, more effectively.

However, in the end, it’s important to note that “people determine the speed of change in the global business landscape”, so as long as corporates invest in the right people innovation, reward people performance and introduce entrepreneurial behaviours. Only then, corporates will be able to keep up, and continue to compete with the faster-changing global business landscape…

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