Planning for Changes to Your Business
Some of the changes your business will confront will be fairly easy to navigate. But sometimes, changes come along that completely rewrite the rules of the game. Here’s the dilemma. Sometimes holding to your original plan through rough waters is the smart thing to do. Other times it’s wiser to change course.
Companies that cling to the details of their plan when everything around them is changing can find themselves sidelined very fast. Knowing when to stick to your mission, strategy, goals, and plans — and knowing when to make some quick or even sweeping changes — isn’t easy. In many ways, it’s the skill that determines the real leaders in business.
Sometimes the best strategy, in the face of disruptive change, is to start asking questions. Use this form to get the process in motion. Not all the questions on our checklist will be appropriate to your business, but take the time to consider each one. In a medium-sized or large company, consider appointing a committee to review these questions and create a report.
The more time you spend researching the forces that drive change in your business, the better you’ll become at predicting those changes in advance. Just as important: The more time you spend improving your company’s readiness for change, the more swiftly you’ll be able to respond when it happens.
As new technologies, globalization, and economic dislocations transform the marketplace, the ability to respond to change has become one of the key capabilities for success.