We are tired of Change Part 2 : Retail in rapid transformation
In the last blog in this series we observed that many organisaitons suffer from change fatigue. We argue that often this is due to badly managed or poorly structured change programmes. Given that the pressure for ongoing transformation of business models, processes and technology is a strategic imperative, stopping is not an option. Consider an example of change from the retail sector.
Would anyone have believed in 1994 that a garage bookseller (Amazon) with $40,000 of investment capital would, over a period of 15 years, become the number 3 global retailer by brand value (BrandZ), despite having to change strategy midway through its growth cycle and move from direct sales alone to providing online platforms for other retailers? This success has impacted the industry as a whole and has forced other retailers to strive for better e-channel sales. Such pressure for change is one of the reasons that the retail sector is at the forefront of continuous renewal and improvement.
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