The new economy has created great business opportunities as well as great turmoil.
Not since the Industrial Revolution have the stakes of dealing with change been so high.
Most traditional organizations have accepted, in theory at least, that they must make major
changes. Even large new companies recognize that they need to manage the changes
associated with rapid entrepreneurial growth. Despite some individual successes, however,
this remains difficult, and few companies manage the process as well as they would like.
Most companies have begun by installing new technology, downsizing, restructuring, or
trying to change corporate culture, and most have had low success rates. About 70 percent
of all change initiatives fail.
Not since the Industrial Revolution have the stakes of dealing with change been so high.
Most traditional organizations have accepted, in theory at least, that they must make major
changes. Even large new companies recognize that they need to manage the changes
associated with rapid entrepreneurial growth. Despite some individual successes, however,
this remains difficult, and few companies manage the process as well as they would like.
Most companies have begun by installing new technology, downsizing, restructuring, or
trying to change corporate culture, and most have had low success rates. About 70 percent
of all change initiatives fail.