Changing business conditions

1lea — Sat, 03 Oct 2009 08:41:25 +0000

Today, there is a growing awareness that keys to success in the twenty-first century are far different from the keys to success in the twentieth century. For most business leaders unfortunately, improved profitability is believed to be achieved with reorganization, downsizing, merging or in worst cases with the application of all three strategies. It is true that businesses may report temporary improvement in their bottom line and report successful financial periods, but will soon find themselves in the same predicament, achieving “less than satisfactory” results because they chose to address the symptom and not the root cause which is recognizing that tapping the creativity and imagination of people is now the central management challenge. That politics, games playing and internal competition will sap people’s energy and will never be a foundation for a great company.

Most businesses we talk to agree that extraordinary changes are happening in the business world. Changes, like the imbalance of world economies and the rapid changes in technologies, that none of us could have foreseen. Predicting the future and positioning yourself for success will be like playing Russian Roulette with the livelihood of your business. So why bother if change is inevitable? Well, “change” at any level could lead to “chaos” while “chaos” is a function of people reacting to those changes. Therefore, the only prudent thing you as the leaders of businesses can do is to create a learning organization to cope with any and all changes.

1 Leadership Lab » business

Changing business conditions