Wednesday, August 17, 2022

Initiativesofchange

5:20 PM Pearl Zhu No comments

Business transformation is the change on a grand level and it is a thorny journey full of uncertainty, velocity, complexity, and ambiguity.

Change is inevitable, organizational change has become a common practice within an organization, but too often changes are made as a reaction to outer impulses, crises, and demands. This is the bureaucracy’s way of meeting the challenges. A digital transformation is achieved via dynamic Strategy-Execution-Change lifecycle management, although it is not all linear steps, but an iterative, ongoing and upgoing change continuum.

The purpose of the book “Change Insight” is to dig deeper to analyze the psychology behind changes and handle problems and changes at the level of the mindset, and explore people-centric change management philosophy and practices.

Initiatives for Change

Initiativesviapulling Closer to reality is that change is continuously happening in such a dynamic environment of a company, with increasing speed, and the digital ecosystem has become more complex and compelling. Business leaders should realize that the large scale of business transformation requires both horizontal expansion and vertical penetration, scaling up and digging deeper.

Initiateitledchange Information technology systems are the backbone for building a real-time intelligent business and shaping a dynamic and ever-expanded digital ecosystem. Information brings about business ideas; business ideas generate lots of information. Effective information systems are business-oriented to integrate different pieces of applications, components to improve operation excellence, change agility, innovation fluency, and the overall business maturity.

Initiatelevelsofchange Change is inevitable to survive in the “VUCA” reality. There are structural changes or technical changes; internal change or outside-in change; process change or people change. There are different levels of change such as incremental, radical, or transformative changes.

Uncoverchangelogic Change is inevitable, in order to deal with “VUCA” reality, survive from frequent disruptions, fierce competitions, and make a smooth paradigm shift, organizational transformation is the change, but on a grand level, at the level of the business ecosystem. It’s important to practice independent thinking to gain unconventional understanding, transform the company's underlying functions, processes, cultures, and identify effective leverage points for leading transformational changes in all directions horizontally and vertically.

Initiativestoleadchangestrategically The environment which the company is in changes over time, new competitors in the market keep evolving. In differentiation, competitive advantage is probably more to do with the maintenance of brand, reputation, and quality. A good strategy includes a set of choices, a comprehensive guideline, a series of actions, and a right set of metrics to evaluate results. A strategy is to plan for the inevitable, while risk management is to prepare for the inevitable. Strategy execution success is more dependent on the business's agility to respond to changes, capabilities to implement, and resilience to fail forward.

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