Changes in technology, regulations, and customer needs are some the external forces that can require you to look are your current processes. Hiring the right people and retaining top talent are the internal forces that can impact the effectiveness of your organization. Inevitability at some point you have to make changes or risk the possibility of losing customers.
Formulating new strategy can be necessary to either protect your competitive position or exploit new opportunities. There are three key areas that can be a major driver of change:
- Competitive interaction caused by new business models of new entrants
- Industry Evolution requires strategies for responding to the environment
- Technological change by competitors or new entrants to your market
Learn more about our GAP Analysis that minimizes risk and reduces costs of a change initiative.