Over the past decade change has become a central factor in the life of organizations, affecting not only global conglomerates but also small and medium enterprises. Change management has fought its way to the scientific forefront, aiming to equip business leaders with the necessary tools and knowledge in order to effectively handle change. Whereas in the past change management was practiced solely in response to the need for radical transformation, such as during mergers, acquisitions, corporate restructuring and downsizing, today it is widely recognized that implementing change is often best achieved in a gradual manner. The ever-increasing pace of international business creates a dynamic and fluid working environment, in which sustainability can only be guaranteed by adequately responding to the effects of competition, technology advancements, globalization, customer demands and cost pressures. These and other factors translate into a tangible need for incremental change to be practiced in a systematic manner.
Expanding companies are particularly vulnerable to change since they not only contend with external change drivers, but also face a transforming internal framework. Although an integral part of growth, when practiced badly change can become a stumbling stone, curbing a company’s potential. Organizational change is a complex and demanding process that requires both structured analytical skills and a strong focus on people. However, change initiatives often fall through since they fail to take into account the unique situational demands, influential factors, business background and industry settings. In this respect, it is particularly important to differentiate between the change approaches that growing companies take. Whereas an enterprise experiencing ...