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 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