Change is the new normal for markets and organisations

And so for both, the ability to adapt to changing circumstances is key to survival and overcoming crises.
Adaptation is instinctive for humans, and the fact that this instinct is embedded in our thought processes enables us to learn automatically how to handle various different situations.
For organisations, however, it’s a wholly different story. It is no easy feat to give life to an organisation and endow it with the instinct to adapt, in order for it not only to survive but to grow.
In a large industry like property development, innovating on the product side alone is not enough to drive an organisation from nine- to 11-figure revenue.
The industry moves with the overall economy and competition is driven by major players who enjoy the same advantages, from bargaining power to product diversity to access to capital to strong business partnerships.
It is therefore necessary that the organisation’s internal structure is constantly examined, as it is the keel that keeps all the functional parts together, allowing the company to move forward in a stable and sustainable fashion.

Big, common problem
In a world where change happens swiftly, organisational restructuring is not only normal but necessary to keep a business ready for market changes and competition. A big problem common to most restructuring, however, lies not with the model of the restructuring itself but with people.
Restructuring can be necessitated by various internal and external factors, including lack of flexibility in the existing structure, stagnant growth compared with the amount of investment put in annually, a gap between people in the organisation due to differences in age and |opinions, and swift change in consumer behaviour resulting in heightened competition within the industry.
Because the need for restructuring can be prompted by factors beyond the organisation’s control, the chief executive’s job is to watch out for any signs that such a need has arisen, analyse what the organisation is going to face in the future, and define a new direction and business model in the clearest possible manner.
As I noted above, the big issue in organisational restructuring lies not with the form it takes but with people in the organisation.
The task of determining a new direction and structure is less of a worry than how you communicate the new picture to employees at all levels so that they have the same understanding, look in the same direction and share the same goals, because the organisation necessarily relies on its people to make the undertaking a success.
Moreover, management must not forget that employees are the parties directly affected by a restructuring. A complete assessment of its impact must be conducted from a human-resources perspective.
If employee resistance is expected, further analysis is required to determine the cause of the resistance so that an effective response can be prepared.
The worst possible outcome, which must be avoided at all |costs, is the loss of talented and |valuable personnel due to a lack |of understanding of the change |or unwillingness to adapt to the change.
To stay a relevant player in a world where organisational restructuring is normal, having a good understanding of one’s business or an excellent organisational structure alone is no longer enough.
What is important above all |else is good human-resource |management. Ensure that your employees not only understand the why and wherefore of the restructuring but welcome the new structure and adapt to it in a seamless fashion, fulfilling the objective as a key strategy to drive the organisation to success amid ruthless competition.