Globalization has changed the rules of the game and the business world has entered a new age of uncertainty. Companies are now facing a reality of economic unpredictability, disruptive technologies and fierce competition. Market leaders have been taken down by smaller, more efficient competitors and corporate giants have been slayed by more modernized and adaptable enterprises. Organizations are expiring faster than ever before as the traditional sources of advantage are no longer valuable or sustainable. Indeed times are changing, and so must the organization.
There is one winner in all this turbulence, the change management industry. Demand has greatly increased for its services and the growth in change management consultancy has been impressive. Solutions can simply be purchased at great cost in order to solve change management issues. However, these solutions are often ineffective and have a modest record of success. So how can the organization survive these changing times and best adapt itself to a constantly shifting landscape? Research suggests that all the necessary ingredients for successful change management already exist within the organization. Through the application and utilization of change management theories and concepts, organizations have the power to successfully transform themselves without external assistance. When applied correctly, these practices will enable organizations to successfully implement change that ensures the survival and growth of the business.
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