Significance Of Change In Business Development

culled from:.business-development.ws

Different companies undertake different steps and measures while implementing their business models. However, in spite of these differences, there is one entity in common amongst them all. This entity is called change. As long as a business is on, it would always be witnessed in some form or the other, be it in the form of structural reforms, human resource reforms, policy reforms etc. There are various reasons why changes become necessary and different people have different opinions. Some say that it is necessary for growth; others think that without it, nothing new would come while some also say that change induces the evolution effect.
Whichever the case, it is to realize that these are important and necessary. People should learn to adapt to them and change themselves along with it. From the business point of view, those companies which have constantly been able to adopt the changes in their business development models have succeeded and always been one step ahead of their counterparts. Once these changes are incorporated, the company can expect to run better and more efficiently thereby increasing their revenues.
By choosing not to change, the company loses out on the opportunity to be in competition with the others due to which they would lose their clients. As the demands change, they would not be able to provide what is required by the customers, which would have an adverse effect on their productivity and revenue ultimately leading to losses and maybe a shutdown in the future. Having firm policies and views towards the business is a good approach, but is not practical after a certain period of time. People tend to get more sophisticated with time and accelerating the change becomes necessity. For example, the web hosting business was only limited to Dedicated Hosting in the beginning, but with time the Shared Market came up. Today, all companies provide both the services simultaneously; those which only provide Dedicated Hosting do not have a chance to survive as their clients would only reduce over time.
While implementing a change, it is better to take a top down approach, first affecting the seniors and then the small staff members. The reason is very simple. By incorporating changes in the seniors, the methodology of working adopted by those under him would change automatically thus reducing efforts and increasing the speed of change. Seniors have to be told about the changes and why they are necessary. In fact, in some cases, it would be them themselves bring out changes to suit the needs of the institution. A sense of goodwill has to be generated and everyone should realize that they change is for the better and not the worse.
During this phase, try to keep things very formal and preferably in written. There are always some who would oppose the change which may create problems. These resistances should be dealt with care and due consideration given to the steps that might be taken against the interests of the company by them.