Identifying the need for change is often the easy part; managing the transition effectively is a lot harder
When it becomes apparent that a new technology, product or business model will alter an industry, few CEOs question the need to act. They are less clear, however, about how to manage the transition from old to new in ways that will maintain their performance through the period of change and build their prosperity in the new environment. In this article, we provide perspectives on why companies’ track records in dealing with these transitions are generally poor, and outline three changes that leadership teams should make – to decisions, information and execution – to increase their odds of emerging successfully on the other side.