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In corporate organisations, business change is a constant occurrence and often at speed. Azam Saddique, our Technical Analyst, shares his views on the importance of embracing and adapting to change at work in order to succeed.
Let’s look at organisational change in a broader context. Organisational change can differ in many ways, depending on the type of business but typically consists of the following phases in normal circumstances:
- Short-term change – up to 1 year
- Medium-term change – up to 3 years
- Long-term change, also known as strategic change – up to 5+ years
Change is triggered by the vision and followed by strategy. In other words, it means visualising the bigger picture and moving the business from where it is now to where it wants to be in the future. This work is commonly driven by the Executive Directors (Leadership Team) who are principally accountable for the outcome of the change. They make sure that the relevant engagement, communication and stakeholder relationship is maintained throughout the change period.
Organisations continuously track their objectives and goals and subsequently make changes to improve and grow the business over time, essentially increasing the quality and value of products and services for the customers. There are direct and indirect competition factors that companies consider whilst making business changes. These considerations should ultimately result in growth and healthy profits if the changes are well executed.
There are also a wide range of external factors, such as social, political and economic, which organisations consider when they introduce change within their business. These factors can influence the company’s policies, procedures and standards.
Business change often brings about new and exciting opportunities for people to develop new skills and strengthen their career paths. Adapting quickly to change therefore has many benefits such as:
- Positively changes your mindset
- Helping your personal development
- Allowing you to accept reality
- Taking you out of your comfort zone
- Empowering your creativity
- Giving you more meaning and purpose to achieve greater goals in your career
A ‘do nothing’ option in today’s highly competitive commercial world is not feasible; continuous improvement is the key to business success. Organisations must build on the existing foundations and develop new capabilities through innovation in order to expand the business.
Unfortunately, in most cases, change can be seen in a negative light as it creates uncertainty for people. Change can be difficult to implement, especially if you fundamentally change the concept of the business, but as they say, “no pain, no gain.” It is important to remember that generally great achievements have been accomplished through some form of significant change.
The way in which people respond to change can usually be assessed through the Kubler-Ross Change Curve. The Kubler-Ross Change Curve, also known as the five stages of grief, is a model consisting of levels of emotions experienced by someone who is terminally ill or someone dealing with the death of a loved one.
This model was introduced by Psychiatrist Elisabeth Kubler-Ross in her book, ‘On Death and Dying’ published in 1969.
