The business world is constantly evolving, and successful organizations are those that can adapt to change. Here are some real-life examples of different types of change that businesses have undergone.
Example 1: Developing new products
Nature of change: Technological advances – leading to new products and new processes.
Examples of change: Products include new computer games, iPads and iPhones, hybrid-powered cars, etc. while processes include robots in production; CAD in design offices and computer systems for stock control.
Managing change: Need for staff retraining. Purchase of new equipment. Additions to product portfolio – other products to be dropped. Need for quicker product development, which may need new organizational structures and teams.
Example 2: New actions from competition
Nature of change: Competitors’ actions.
Examples of change: New products. Lower prices – based on higher competitiveness or lower costs. Higher promotion budgets.
Managing change: Encourage new ideas from staff. Increase efficiency by staff accepting the need to change production methods. Ensure resources are available to meet the challenge.
Example 3: Different external environment
Nature of change: Macro-economic changes: fiscal policy, interest rates, exchange rates, unemployment rates, fluctuations in the business cycle.
Examples of change: Changes in consumers’ disposable incomes – and demand patterns that result from this. Boom or recession conditions – need for extra capacity or rationalization.
Managing change: Need for flexible production systems – including staff flexibility – to cope with demand changes. Explain need for extra capacity or the need to rationalize. Deal with staff cutbacks in a way that encourages staff who remain to accept change.
Example 4: Different laws and regulations
Nature of change: Legal changes.
Examples of change: Changes to what can be sold (raising age for buying cigarettes) or when (24-hour licenses for restaurants).
Managing change: Staff training on company policy on sale of cigarettes and alcohol. Flexible working hours and practices.
These are just a few examples, and the specific changes a business implements will depend on its unique circumstances and industry. However, by understanding these different types of change and how other businesses have adapted, organizations can be better prepared to navigate the ever-changing business landscape.
