If it’s true the only constant is change — and I believe it is — then the days of change initiatives with start and stop dates is over. Entrepreneurs are especially aware that constant change is becoming part and parcel of daily operations.
Risk is a familiar partner for entrepreneurs. But the shifting risks associated with constant change can present a unique set of challenges. There are three primary drivers.
Change Or Die
Advances in technology, increased competition and changes in legal, regulatory or industry requirements force firms to change in response. What’s more, these occurrences now take place on a more frequent basis.
Change To Grow
A desire to increase customer base, improve performance, or pursue expansion strategies requires entrepreneurs to change. The appetite for success is ever-present.
Change Is Good
A philosophical view that change is advantageous. A leadership transition or a rebound from scandal is just two reasons firms might view change as welcome. In this philosophy, change can be either an “offensive” or “defensive” weapon.
Founder & CEO of The Wallace Group