An Economist Intelligence Unit (EIU) survey of 600 business leaders shows that more than half of companies plan to engage in more change programs and increase spending on each in the coming year. “The focus is on increasing efficiency in companies, reminiscent of many of the change initiatives of the early 1980's. Over the coming year, companies will replace the current emphasis on cost reduction with an emphasis on adaptability and organizational efficiency.”
This should be good news for consulting companies like OBCOM Consulting who’s greatest talent is finding underperforming resources, hidden possibilities, and overlooked assets. Because of our customized solution concept, we stay around for the effective implementation of the change initiatives we recommend. This alleviates the disturbingly low success rate of change initiatives companies have possibly experienced in the past.
EIU reports that, "the element of change management that companies have the most difficulty with is 'winning hearts and minds' (51%). This was followed, in second place, by 'lack of management buy-in' (31%)." Blame for failure seems to largely fall on communication, intent and people rather than money or technology.
With a slowdown in the economy it becomes even more critical to be efficient, productive and profitable. It also positions a company better for when the economy heads up later. The result is invariably a greater market share as other companies don’t invest during the slow economy period.
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