C&N - For Growth
Key competencies in VUCA world relate to both managing change and fostering new. No firm or organization can grow or remain competitive without these skills. In recent years, much of the focus has been on fostering new. Concepts like Lean Startup in the business realm and advances in the field of innovation are examples of radical progress compared to how new was previously developed.
Even in firms and organizations with strong innovation capabilities, the importance of managing change has not received as much attention. Traditional thinking and practices still dominate, even though there is a growing recognition of the need for change.
Did you know that over 75% of change initiatives in corporations fail, even though they typically have significant resources?
Timing is crucial—if change happens too late, there's only a 10% chance of achieving the same growth as before.
The Reinvention Method represents a radical leap in bringing change and new business creation up to the level required to meet the demands of the VUCA world.
For companies seeking sustainable growth, change and new are not an either-or proposition; both are essential at a high level. While they are distinct, there are significant synergies between them that have a strong positive impact on competitiveness.
Writings
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Innovation and reinvention have more synergies than you might expect, and a smart combination of the two leads to better results from a customer point of view than either could achieve alone.
Innovation and Reinvention: A Powerful Connection
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The modern startup approach is now essential for new business creation across all sectors. Embracing reinvention is critical to overcoming the inevitable challenges that arise during this process. It not only drives growth but also fosters a company culture built on continuous transformation and adaptability, laying the foundation for long-term success.