Change is a constant. There are many commonalities in how business owners, leaders, organizations and industries are dealing with this reality but there are also many differences. Some organizations are internalizing the changes (looking inward and identifying ways to restructure, identify efficiencies, and plan for the future), while other organizations are looking outward for support and ideas in addition to looking inward. It doesn’t matter if the organization is large or small, there are examples of both approaches in each category.
Some of the changes that are happening include:
- hiring freezes resulting in existing employees to taking on more work.
- reorganization of duties between employees.
- lay-offs and closures, which impact the morale of the organization.
- cut-backs or discontinued funding for projects or programmes.
- revisiting the organizational vision and strategic objectives
- shortening the horizon of the strategic plan (from the traditional 3-5 years into shorter term objectives)
What changes are you experiencing in your organization or industry? What trends are you seeing? Will these trends impact how you do business? Is there a better approach — internal vs external?