Netflix and Amazon recognized the potential of streaming early on.
And that helped them make the necessary changes to stay relevant in a rapidly changing market.
In contrast, Blockbuster’s slow response to the growing popularity of streaming led to its downfall.
When change management failures like this happen, it might be because of any of the following reasons:
✔ Lack of leadership support.
✔ Employee resistance to change, leading to a lack of buy-in and adoption of the new processes or systems.
✔ Poor communication from management.
✔ Inadequate training.
✔ Failure to plan for the long term.
✔ Lack of stakeholder involvement.
✔ Overlooking the culture and values of the organization.
For example, TotalEnergies, and Greenpeace are at odds over the company’s 2019 carbon emissions, as the levels disclosed by the firm were almost four times lower than the actual levels uncovered by Greenpeace.
Companies facing these challenges can get help from external firms for change management projects.
As a management and technology consulting firm, Synvance guides businesses on their core transformational activities regarding their supply chain, from identification through business-as-usual.
Synvance is guiding and accompanying you to succeed in your transformation.
