Setting the Pace of Change in Business

by on Aug 27, 2020 2:47 PM

Setting the Pace of Change in Business

As entrepreneurs, we know that change is constant. But is it a bad thing? I agree with psychologist Dr. Dennis O’Grady who said, “Change has a bad reputation in our society. But it isn’t all bad – not by any means. In fact, change is necessary in life – to keep us moving, to keep us growing, to keep us interested.”

Change that originates within us or within our organization is typically within our control. However, external change might be instigated by a shift in markets, technologies, customer needs, demographics, competitors or even, a global pandemic. These occur outside our control and yet, when we let go of fear, we can often identify opportunities we never considered.

No one can deny that since 2000, businesses have experienced radical transformation. My observation is that firms have little time to adjust to one change process before another adjustment is upon them. As we look to make decisions for our own companies, the pace of change will differ from business to business as there are many factors to consider.

Ask yourself, is the pace of change:

  • an issue that makes a difference to your overall objectives?
  • according to best practice, a process that must be implemented quickly, or slowly, moving gradually through clear stages?
  • dependent upon whether the change is precipitated externally or internally?
  • altered by the success of recent changes?
  • contingent upon the type of changes needed?

Each of these questions is critical in determining the rate of any significant change in an organization. Failure to account for these factors could result in a mismatch between process and pace. If the change leader does not establish and control the cadence in your organization, it can spiral out of control, resulting in greater disruption and damage.

Over the course of the next few weeks, I will write about the two parts of setting the pace of change in your organization: Determining the Pace of Change and Implementing the Pace of Change. For guidance about approaching change in your business, contact us at 609.688.0428 or contact us HERE.

About Hal Levenson

Hal Levenson is the Founder and Chief Visionary Officer at Trilogy Partners. Trilogy Partners is an advisory & implementation firm whose mission is to help companies grow and transform.  We accomplish this by focusing on 3 critical business areas: Financial, Strategy & People.