In today’s ever changing world, companies need to have a comprehensive change management process to ensure their structures, strategies, or systems are up to date. Customer loyalty and consumption look much different than 10 years ago and adaptation is key to survival in today’s age of information.
According to Torben Rick, only a third of companies remain successful throughout the ages. Usually, companies fail if they focus too much on short-term financials. Organizational health is paramount to long-term survival.
First, companies need to ask themselves, “Where are we?” The first step towards change is knowing where you are. Second, you need to identify where you want to go. This means finding the intersection of the market and your organization’s capabilities as well as the field you want to pursue.
Third, ask yourself, “How ready are we to start?” Preparation is key, so you can’t just jump in without an organized plan. Get a clear view of the capabilities and mindsets that need to change first. Next, identify the practical steps that need to be taken. Save yourself time and money by adequately planning for changes.
See the rest of the steps in the infographic below.