A business change failure means that you don´t reach your targets. Even a single failure can have drastic consequences and the more you make business changes with systematic errors the more probable the cumulative impact of failures impacts your financial results, competitive strengths and motivational climate.
There are many triggers that can lead to major business changes and the turbulence of markets and market environment means that they are becoming ever more common. Yet companies and organisations too seldom advance this important area.
Key Reasons for Failure
- Business change is “a side activity” that just needs to get somehow done
- Business change is top-down based only on visions and perceptions of top leaders
- Change is delayed till there is no time and a change is done in a panic
- Preparation for change means that you only write new targets for an organisation
- Customer development is no more than random talks to customer
Consequences of Failures
- Financial targets are not reached
- High repair and rechange costs
- Customer credibility is reduced
- Competition position weakens
- Your own people get frustrated
To avoid business change failure, learn to apply Lean Business Change!