Change management vital to future success

Monday, August 01, 2005

Change management vital to future success

Flexibility and speed will mark out the best organizations of 2010. That’s the conclusion of research from the UK’s Economist Intelligence Unit, based on a global survey of over 4,000 senior executives from 23 countries.

In the survey, 33 percent of respondents identified swift adaptability to change as the greatest management challenge for creating long-term value, and a further 18 percent cited speed of innovation.

Technology will be at the core of efforts to acquire these attributes: 41 percent of respondents expect technology innovation to exert the heaviest influence on business models in 2005-2010. The renewed business enthusiasm for technology is also reflected in the fact that 87 percent of executives said it would be critical to their ability to adapt business models and implement strategy.

"The pace of change in the next few years will be relentless," says to Daniel Franklin, editorial director of the Economist Intelligence Unit. "The companies that best understand the dynamics of this change and adapt fastest to the emerging business landscape will be the likeliest to prosper."

Source: The Economist Intelligence Unit.

Blogged on 2:19 AM by Upay

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