ABSTRACT
In a turbulent world, organizational adaptation and change is the only certainty. Thus managing change is one of the major challenges facing firms. Yet, as noted above, most managers lack the necessary knowledge and skills to achieve such changes. To achieve long-term health for their firms, it is imperative that executives learn to manage and sustain change. As Michael Dell of Dell Computers
The forces driving change within firms include new customer demands, changes in regulation, rising consumer expectations, technological innovation, developments in communications and transport, and political changes resulting from increased global economic integration (Wind & Main, 1998). These changes create a need for continual improvement in organizational performance in order to maintain competitive position and create shareholder value. Competitive advantage is harder to sustain: the firm must simultaneously innovate, reduce costs and cope with increasing uncertainty. At the same time there are increased opportunities, with reduced barriers to operating globally. Yet, no matter how effectively managers plan, increased turbulence and uncertainty mean the unexpected will occur.
