Strategic Change in the Contemporary Business World

In the contemporary business world only thing that seems to be constant is change and the nature of the competition is such that companies need to leverage on the way they manage change to gain a competitive advantage. Moreover, the types of changes the companies experience vary in nature as well, for instance, as industries consolidate, there are increasing number of mergers and acquisitions, the pressures on organisation to compete in a more global arena are leading to different competitive pressures and more strategic alliances (Papers4you.com, 2006). Furthermore, rapid technological changes are forcing organisations to embrace new technologies and change the way they work and interface with suppliers and customers (Balogun and Hailey, 2004). However, the phenomenon is not new and has seen a series of management fads like cultural change programmes, total quality management, business process re-engineering etc. Unfortunately most of the change programs launched within the organisations are below par, evident in the figure of around 70% failure (Balogun and Hailey, 2004). Hence, strategic change is becoming a highly sought after managerial competence.

Moreover, the change management process is highly complicated and there is no fixed norm that could be followed. However, like most other areas in management experts have proposed models for organisational change vis-