In this summary, you will learn:

1) Why companies must be able to retool rapidly, and 2) How to revamp your operations and personnel to compete and to manage change.

Take-Aways:

• In business, change is a constant. Your market, technology or CEO can drive change.
• Businesses now operate in a constant “VUCA” environment – that is: “volatile, uncertain,
complex and ambiguous.”
• To stay competitive, your company must be able to change on a “just-in-time basis”; that requires “rapid retooling.”
• Change efforts depend on your ability to meet five “soft requirements”:
• First, “build acumen.” Employees must understand your business and what matters to it.
• Second, “foster innovation.” Develop a culture that prizes new ideas.
• Third, “eradicate silos.” Tear down internal divisions.
• Fourth, “energize teams.” Meaningful transformation demands your team’s full support of
the change effort.
• Fifth, “personalize the coming change.” Motivate and retrain your personnel as you lead them to take individual responsibility for change.
• Basic change training includes “media training, brick-and-mortar training and businessfocused”