The 5 Key Principles of Change Leadership and Change Management.
The 5 Key Principles of Change Leadership and Change Management.
Childhood moments are priceless! One such moment was when my family bought their first camera. It’s a ________ Moment – the visual is etched in the memories of the 80s generation!
This company was the first to create the digital camera in its market. They didn’t realize the potential mass-market appeal of this product and never released it. Instead, they focused on niche markets with high-end cameras. They were also afraid of losing their existing product portfolio and not paying attention to market needs. This organization was so opposed to ground realities, it took them more a decade and tons research to create their first digital product for everyday use. It was still not a digital cameras. Some of the newer players in this market were already a household name by this point. This meant that by the time this company launched its first digital camera on the market, others had already carved out a niche. You now know who we are talking about. Yes, it’s a Kodak moment!
So, why did a well-known legacy brand almost lose its ground and close to closing? Let’s take a look at another case before we answer this question.
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The Apple Case Study!
Steve Jobs brought Apple back from the brink in an existential crisis. This is well-known! Jobs’ era was dominated by his style of leadership. At the stage Apple was at when Jobs returned, perhaps that was the right time!
Many analysts were skeptical that Tim Cook, the successor to Jobs, could really fit in his shoes. He didn’t need to. His first message to Apple was “At Apple nothing will change!” He meant that there would be no change in strategy. The change will come in the way Apple creates value to its customers. Cook brought a different collaborative leadership style. This was a welcome shift for employees. According to an Apple executive, working with Tim makes you a better person.
Apple’s success is based on its ability to produce superior products and innovation as the key to its product strategy. What are the Change Management principles that Apple and other great companies use to succeed in a highly competitive technology and electronics market?
What is the best way for organizations to survive and thrive in a constantly changing environment? Analysts call it the VUCA World.
The answer lies in the above diagonally opposed case studies of two organisations!
Did they have a good understanding of the future?
If they didn’t, were they able to read the current market realities?
Did they respond to the same prompt and effective?
They were able to change to the new normal in a short time.
Did the leadership of the organization inspire and be able to inspire others to achieve the refined vision?
Leadership was it agile and dynamic, yet able to adapt to new realities both within and outside?
There are many more such questions…
If most of the answers are affirmative, there is a good chance that the organization will survive and thrive despite the changes.
The success of organizations, communities, or individuals in the new normal requires change management. The people who can create a change management strategy and plan will be able to set benchmarks for change leadership within their respective sectors, such as Apple and Netflix.
A key driver of success in The New Normal is also personal adaptation and adaptability to change.
We will try to draw a parallel between these characteristics in this article.