Breaking barriers is imperative to drive organisational change and business growth.
The first barrier to change is most people do not like change. They tend to stick to what they know and what worked before. However, change is happening: like it or not.
A second barrier is specific to mature markets; here, organisations can only grow by winning share from competitors. Companies and industries that have been successful over many years have no incentive to make major changes and major change often involves high career risk. So, people and companies make only incremental and low-risk improvements.
The third barrier is many organisations rely only on price to compete and continually reduce their prices. Reducing prices will reduce margins, so they struggle to find money to innovate and add value to their customers. This is a vicious cycle that encourages them to lower prices further to win more business. Competing on price is unsustainable, and a barrier to change.
This story is from the May 2017 edition of Indian Management.
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This story is from the May 2017 edition of Indian Management.
Start your 7-day Magzter GOLD free trial to access thousands of curated premium stories, and 9,000+ magazines and newspapers.
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