It is said that the only constant is change.
It is said that the only constant is change. That cannot be truer, especially in our changing world where the paradigm is always shifting. Consumer patterns change, technology marches forward, and business has to evolve or die. As Charles Darwin said, “It is not the strongest of the species that survives, nor the most intelligent; it is the one most adaptable to change.”
Without change, business leaders still would be dictating correspondence to secretaries, editing their words and sending them back to the drawing board, wasting time for all involved. Change that results from the adoption of new technology is common in most organizations. While it can be disruptive at first, ultimately the change tends to increase productivity and service delivery.
Consider the fates of two photography giants: Kodak and Fujifilm. Though both made cameras, their profits derived not from camera sales, but from the sale and processing of photographic film. When digital photography arrived, Kodak refused to change their business model for fear of cannibalizing their film cash cow. On the other hand, Fujifilm pivoted and diversified to instant film, digital photography, and skincare. The outcome is obvious: Kodak is now a shell of its former self, while Fujifilm is in a healthy financial position after enduring a rough few years of change.
So it’s pretty obvious that “change or die” is the order of the day. But how should it be done?
BEGINNING THE JOURNEY TO CHANGE
This story is from the SME Singapore August 2019 edition of SME Magazine Singapore.
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This story is from the SME Singapore August 2019 edition of SME Magazine Singapore.
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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