Change is the status quo. Companies the world over realize that success depends on their ability to respond to new opportunities and threats as they emerge, and to keep rethinking their strategies, structures, and tactics to gain ephemeral competitive advantages.
As a result, change initiatives have become more complex than ever before, cutting across divisions and functions rather than staying confined to silos. They are global too, often extending across borders to several nations with different cultures.
Companies must set up and oversee change initiatives more systematically than they used to if they want to succeed. They must periodically evaluate projects against each other to ensure that they have deployed the right amounts of resources, people, and attention across competing efforts. Executives must also find ways of catalyzing the discussions that will result in reprioritizing, rescoping, or retiring change efforts that no longer serve the organization’s objectives.
Accomplishing all that is tough, and this is what keeps business leaders awake at night.