Written by B. Tom Hunsaker, Richard Ettenson, and Jonathan Knowles
A major challenge for business leaders is knowing when to stay the course and when to change direction. There is conflicting advice. Thousands of articles have been published on the topic of change management in leadership, but just as many have focused on the key roles of persistence, grit, and commitment — that is, not changing — in overcoming challenges.
As former U.S. Army Chief of Staff Eric Shinseki famously remarked, “If you dislike change, you’re going to dislike irrelevance even more.” Change may be inevitable, but it can be hard for business leaders to identify the nature, scale, and timing of the change that is appropriate for their company’s specific context. As operating environments become more dynamic, both the benefits and risks of change become amplified.
Just as the word ride can describe both a white-knuckle experience on a rollercoaster and a leisurely excursion on a bicycle, change is used to describe a wide variety of contexts. We assert that a fundamental source of confusion among managers and executives is the use of that single term to refer to three very different strategic responses to business challenges.
Read more here.