Experiences certainly present lots of old and new challenges, and adds more valuable learnings to become better in future dealings.
As can be expected, change will always certainly happen – whether planned or unplanned. Either because it is internally initiated or externally triggered by events. Impact of changes can either be isolated or widespread, short-lived, or longer-lasting. But when is change good or bad? When is it too soon or too late? When is it too little, too big, or just right?
People can either welcome or resist change. People can either choose to be the catalyst and be in the forefront or choose the status quo and risk being left behind.
Whether we like it or not, change will undoubtedly happen – so might as well be open to liking it rather than resisting or fearing!
And in case we fail, we fail early. And when we fail early, we learn earlier than the many. Remember, we can always stand up… and change again! Just continue moving forward but not without the learnings!
Here’s an inside story of real happenings in a company who pioneered an industry segment years ago: Visibly a lucrative, profitable business, it quickly attracted other businessmen to enter the market like mushrooms, growing exponentially. The multitude of entrants grew faster than the pioneer’s own business and consequently reduced its share to merely 35% of the market it dominated during its earlier years.
Although the enterprise was quick enough to implement the growing technology-enabled products, the head office administration, support services, finance and management organization remained traditional. Instead of propelling the front businesses, these head office services and practices slowed down business expansion thus allowing the rest of the market to grow faster.
Realizing the need to change, they hired executives, managers, and professionals to enable transformation of its central operation and management.
New people in the organization expectedly introduced surgical transformational changes. Expectedly as well, the natural resistance to change of the homegrown people prevented the faster realization of the advantages and benefits. Just as when the initiatives were about to peak further and reach new highs, significant external events triggered tsunami-like waves of challenges risking all the great business creativities.
Suddenly, the entire organization scampered for further and quicker changes. Many of the postponed actions in consideration of homegrown people’s sensitivities became absolutely urgent and thereby executed swiftly. Only this time, rightly or wrongly, there was no longer regard to human sensitivities as crisis situations require desperate (not necessarily deliberate) counter measures. What were intended to make the business thrive are now being made to merely survive.
In this story, change initiatives introduced but sidelined in the past turned out to be the most sought life-saving medicines when needed desperately. See, protecting the status quo is riskier because the rest of the world will continue to change anyway. Don’t forget: LIFE HAPPENS!
How we can help?
Developing and implementing a solid finance transformation agenda is the hallmark of our ACCOUNTING SERVICES model — we build, operate, and transform fundamental capabilities in people, processes, and technology. We go beyond change management! Contact us to know more about these services.