Change is in the air. With globalization, economic downturns, and technological advances all happening at once, businesses are seeing changes happen more quickly than they can keep up with. What does this mean for you? It means that it’s time to start adapting to change instead of resisting it. In order to be successful in a rapidly-changing environment, companies need to have built-in resiliency and a team that is on the same page.
There are many examples of companies who have embraced change and succeeded because of it:
Not only did Netflix overcome change, but they defined an entirely new way to watch tv shows and movies. Unlike Blockbuster, Netflix recognized a gap in online content and encapsulated it. Netflix also survived a plunge in stock and subscriptions by transforming its content.
In the early 2000s, Mattel and Hasbro brought serious competition to Lego, causing them to be on the brink of bankruptcy. Lego went from manufacturing 12,900 different pieces to only 7,000 pieces. They also expanded into other commerce, such as action figures, movies, and video games.
3. Domino’s Pizza
Domino’s is one of several main pizza chains that people enjoy every day. The main thing that sets Domino’s apart from their competition, however, is their recent launch of “DRU” or the “Domino Robotic Unit”. This robot has the capability to deliver piping-hot pizza and ice-cold drinks straight to the doors of hungry customers all over. While this technology is still in the “beginning stages”, it definitely gives Domino’s an advantage over the impending change that businesses will soon face.
The main reason why change is so hard is that people are resistant to it, especially employees. In order to make the transition smoother, be sure to communicate the reasons behind the change and how it will benefit everyone involved. Showcase success stories of companies that have embraced change and been successful. This will encourage others to get on board and embrace the change as well.