The rate of change is not slowing down

17 December 2015 2:16:55 PM NZDT


Success in life and in business is not simply based on your ability to change. It is based on your ability to change faster than your competition and your customers.

 

Business leaders who wait to see how things will develop before they make a move, may be too late.

 

As much as things have changed already, there are more changes ahead.

 

Changes in customer behaviour and expectations are disrupting traditional businesses. Customers are becoming more powerful as they use the increasing amount of information available to them to speed and enhance decision making.

 

To lead in this new world will take hard work to overcome barriers such as organisational bureaucracy and change-averse cultures. For most companies, obstacles today take the form of outdated technology, the inability to free-up resources for digital investments and the lack of technical skills needed to survive and thrive.

 

It’s not just hard; it takes time. And how much time do we have? The need for speed is driven by the emergence of disruptive new competitors as well as the changes in customer expectations.

 

Leaders must take a fresh look at their businesses and re-think what they are doing. Those that lead change will survive disruption and write the rules for the future.

 

Source: Surviving Disruption, Leading Change, HBR 2015

Posted in UBT Updates By

Erica Field