In the business world, change is inevitable. Markets evolve, consumer demands develop, and technology drives new behaviors. Companies are forced to adapt. However, when current corporate approaches are not working and consumers or the market dictate a change, why is there a general hesitation for change within the corporate world? Here are several suggestions on how to make positive changes within your organization.

Create a Well-Defined Corporate Strategy

Having a clear corporate strategy can help your organization when faced with a transitional period. It forms the backbone of structure that is required to fundamentally drive the business forward and keep everything on the right track. In a previous blog article titled Solid Business Plans Will Help Make Your Start-Up a Success, I outline several steps to creating a solid business plan and adhering to it. A successful business plan should touch on the following areas:

  1. Set benchmarks on how you would like your company to grow over the years (for example, in two years, five years, ten years) as well as a strategy to offer new products.
  2. Establish a framework in which to share and explain business and growth objectives with management, employees, and new hires.
  3. Plan for internal growth, including new employees, space, and marketing.
  4. Set specific, obtainable objectives for management.
  5. Develop new alliances (with banks, other companies, etc.) to help guide your new business.

Policy Change Alone Is Not Enough

As a leader, it is all too easy to place more importance on driving a policy change rather than focusing on changing the mindset of the organization. According to research conducted by BCG, more than 85 percent of companies have gone through some type of significant business transformation within the past ten years.  The same research study also concluded that around 70 percent of those companies failed to achieve their initial objectives.

There is a range of reasons that may support these failures. However, looking beyond the obvious and getting to the root cause of this lack of success may uncover an issue that an organization failed to recognize or address when they set-out to make significant changes within their organization.

Driving Behavioral Changes Rather than Policy Changes

What lies beneath the surface of any new policy or organizational change are the thoughts and feelings of those who will be impacted by such actions. While these thoughts and feelings may be “invisible” and difficult to measure, they need to be addressed. Resistance from people inside or outside of the organization can have a significant impact on the overall success or failure of the project.

Opinions and beliefs are rarely firmly set; mindsets can often be changed if the right effort and understanding are applied. In order for a business to succeed, an organization-wide strategy may need to be implemented alongside organizational change to ensure the best possible chance of success.

If there is any way I can help in redefining your corporate strategy, don’t hesitate to contact me.