3 Pages

Introduction to Part Three

The adage ‘change is the only constant’ is now firmly established in the management lexicon. However, continuous change has always been a feature of organizational life, although many commentators would argue that today’s organizations are subject to unprecedented levels of turbulence and uncertainty. Whatever the pace and nature of change, organizational survival depends on managing its consequences. Therefore, in formulating and implementing strategy, managers need to understand, anticipate and respond to the changing demands of the business environment.