Adapting to variable change in the market

Adapting to improve consistently is something that's very essential for a business to survive and prosper into today's business environment. The focus of customer value is changing focus from product technology to business invention.

Companies today need to advance with customer needs, especially companies in the technology sector where invention is overly busy and obsolescence is always nearby. However aiming to put into action changes without adapting its strategy, structure and procedures to the change being integrated would almost surely lead to failure because a successful change needs to be a synergy of all the components /operations within the business.

There are many companies which didn't capitalise on the success and lost out with their competitors over time because these were unable to successfully conform themselves to the change. a few of the types of such reports are Cannon, Nintendo and now Nokia ( Nintendo however managed to recover from the setback which is something Nokia is looking to learn from/replicate).

Nintendo was the leader in gaming consoles till the years resulting in 2000s but then Sony with it Playstation 2 took over the game and was the first choice in gaming system but amongst the current generation of gambling consoles Nintendo has were able to recapture its position as the market leader with its offering the Nintendo 'Wii'.

Same was the circumstance with Xerox, who was simply the first choice in photocopier machines nonetheless it failed to progress with the market and eventually lost out to Canon and Kodak rather than manage to recapture its original position of the market leader.

The lesson to study from the above cases is that being the marketplace leader doesn't necessary make sure you security from the environment, there continues to be a dire need to progress with the market. infact the company at the front has to LEAD from the front.

Changes - the Source of Opportunities

Innovation is the weapon of preference for business owners. Doing things in a different advanced way or wanting to do old things different is how organizations leverage changes as a home based business.

Innovation have to be approached systematically, with a watchful vision for changes and by looking for the opportunities that the company can capitalise on.

In todays market development is the key drivers towards success if the current success stories are anything to go by ranging from the iPhone to the NINTENDO WII GAMING CONSOLE. Companies look to knock out the competition by leading from the front.

There are 2 trends that are successful and are popularly known as 'jump frog' and second one is known as 'disruptive technology'.

The leapfrog strategy essentially means that you leap over the competition, it could be developing new technologies or utilizing a new business model to totally bypass the competition. The idea is as the name suggest to jump over your competition so the competition.

Disruptive technology can be an technology that disturbs the market forces. It fundamentally identifies do enhancements which enhances on something or service in ways not expected by the marketplace, it typically could be by minimizing the price or even supplying a lower quality product which caters to some other customer section such as regarding Ryanair.

Models of change management :

There are a few models suggested for effective change management, I am going to discuss a couple of them so that they can be leveraged to study the given circumstance in a far more analytical manner, namely Kotter's 8 step model and ADKAR model.

Kotters 8 step model has the following steps

1)a feeling of urgency : for a change that occurs there must be a feeling of urgency around the need for change. this help inspire other people so you have more support you and help you create a sense of urgency.

2)form a powerful coalition: You could have to make sure that the individuals around you genuinely believe in the change being necessary. This involves convincing key people in the organisation which means you can garner their support and endorsement which can help you build momentum. For that you will need to find the non traditional /radical market leaders, folks who are willing to adapt change and procedure with an open mind. Once the coalition is created, sense of urgency must be continued and built after.

3) produce a eyesight for change : There would be many ideas/ideas for the change but the idea here's to link all of them in order to have a coherent eye-sight for change providing a far more all natural view of the change that occurs and also a better understanding. This will people around you understand your opinions better as well as help them help you better with a much better sense of your aims.

4) speak the perspective : The perspective needs to be communicated in a definite, succinct manner over a frequent basis so that it can contend with the other text messages being broadcasted daily and stands out.

5)Look after the obstacles : After all the above steps, it is highly likely that you will come across some road blocks maybe with an functional level or at a support level where you should have people questioning your opinions or resisting change, afterall its innate to every individuals to resist change as pointed out the only person who probably wants change is a damp baby.

6) create short term victories : the short terms victories as in positive opinions from the original steps of change can help convince both company and the support about the results of the change being caused. It will reaffirm the faith of your followers as well as silence the critics.

7) build on your success: often many changes are unsuccessful because win is declared too early. Build on your original success to keep up the momentum and view it through till the end. You should consistently be seeking to make improvements.

8)ingrain the changes in to the commercial culture : the changes have to be ingrained in to the culture of the company to maintain the success else it will fail as soon as the procedures and culture earnings to its original express. Therefore the change must be managed inorder to ensure long-term success.

The ADKAR model

[Source: http://www. change-management. com/Tutorial-ADKAR-series-1. htm ]

The ADKAR model

What is 'change' ?

Change according to Webster's dictionary is described as

To make different things in a few particular way

To replace with another

To provide a different course, position etc

And so on

[Source : http://www. merriam-webster. com/ ]

So what is change management ?

Change management can be identified in various way however, many of the greatest ones according to the KISS ( Keeping it brief and simple ) are pointed out below

'The systematic procedure and request of knowledge, tools and resources to cope with change. Change management means determining and adopting corporate strategies, structures, techniques and technologies to cope with changes in exterior conditions and the business environment. '

-SHRM Glossary of RECRUITING Terms, www. shrm. org.

Change management can be split into three phases

Adapting to change

Controlling the change /striving to control it

Effecting the change

Successfully adapting to change is as crucial to the business world as it to the natural world, yet, in business the change is much faster and the speed at which a company needs to conform should be more speedily than available world since the tempo of change is also much quicker and the magnitude of change more extreme, so the change has to be well designed and well thought out to ensure maximum efficiency.

'Leading from leading '

[Source: http://www. gaebler. com/Leading-from-the-Front. htm]

Leading from leading is a popular term running a business jargon, but if you stop and think about its exact meaning it can be interpreted in 2 ways

that you as a leader expect everybody else to follow the same route

That you decide to do whatever you've been asked to do, exactly as per instructions

Now these 2 interpretations may well not appear that different initially but on deeper inspection it has to be realised that a person /organisation may only have 'x' capacity or 'y' resources and that these are the restrictions of the organization.

For e. g.

no matter just how many years or how many tournaments of golf you may have played in your life, its still hard to be as effective as PADRAIG HARRINGTON at golfing because there are just some inherent resources which are at Tiger Woods removal that you might not exactly have like a natural deep swing action etc.

so the second interpretation generally in most situations is the most possible one due to the fact that it requires into account the restriction factor. I will later extend on this argument to explain Nokia's position in the current market.

Leading from leading driven change

Leading from the front driven change would imply heading ahead and being truly a source of change. Instead of following a innovator, you try and be the first choice of this particular change. Its best discussed with an example, like in case there is Apple when they developed the iPhone they gone forward and made the main element differentiator to the be the user experience, they didn't review panel in the hardware battle against Nokia instead they created a niche for themselves with the user experience. The key to the iPhone was the sheer ease and enjoyment of using one, infact in conditions of hardware Nokia was way in advance, Nokia offered a camera of image resolution of the magnitude of 5 megapixels with a xenon display ( N82 announce 2007) when compared with a measly 2 mega pixel with no flash made available from the Iphone first generation. There were a great deal of similar tips of assessment where in conditions hardware Nokia was way prior to the offering created by the Apple iPhone ( first era ) and yet the Iphone did effectively despite being the business's first offering in the mobile phone market. ( Apple sold 2, 70, 000 iPhones in first one fourth and till Q1 2010 experienced sold over 42 million handsets put together)[Source : http://gorumors. com/crunchies/quarterly-breakup-of-iphone-sales/ ]

What Apple did right was they didn't try to race forward in the handset battle against Nokia instead they created a new category and started a new race where these were the leaders and today Nokia has to play get up.

Another exemplory case of such a story are available in the gaming console wars between your 3 biggies of the business : Nintendo, Microsoft and Sony.

Nintendo, Sony and Microsoft each acquired their gaming system and while Microsoft and Sony were active with the hardware wars for his or her Xbox and Playstation gaming console in system in the middle 2005-2008 aiming to outdo the other in terms of sheer control power, Nintendo made a decision to change game by focusing on the game playing experience rather than the hardware features of the machine. What this led to was 'leading from the front side' driven change circumstance.

Nintendo business lead from leading even though Microsoft and Sony were busy in their hardware specs war (which eventually escalated the costs of the consoles further up : eventually near double the price tag on a NINTENDO WII GAMING CONSOLE ) arrived with a gaming system that was so different (with the Wii stay ) that this actually has outsold both Xbox and Sony Playstation in today's generation of video games consoles in conditions of sales.

As mentioned in the case this success report is something Nokia can learn from since Nintendo has experienced a similar change of fortunes over time, initially it was the first choice, then it lost out to the play place and Xbox and then it recapitalised it position as the marketplace leader in the current gaming console generation similar from what Nokia is thinking about replicating through it new CEO.

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