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The Key to Managing Change

Lufthansa Airlines has not been able to effectively manage an aggressive cost-cutting program
Lufthansa Airlines has not been able to effectively manage an aggressive cost-cutting program Photograph by Hannelore Foerster/Bloomberg

Constant change is a business reality, and organizations must continually adapt to their environments to stay competitive or risk becoming obsolete. That is why the ability to incorporate big changes into the DNA of an enterprise while driving operating results is a much-sought-after competency.

Five key questions are helpful in determining the likelihood that a major change will succeed or fail: How is the vision different, better and more compelling? Are the leaders personally committed to the change? Does the organization have the capacity to make the change? How ingrained is the current culture? And will the change actually deliver the identified outcomes?