11 Dec Why Successful Companies Are Going “Bad”
Why Successful Companies Are Going “Bad”
One of the most commonly seen business phenomena’s is also one of the most complexing: When successful companies face a large change in their environment, they often fail to respond effectively. With competing companies whom are armed with modern technologies or strategies, these once-successful companies simply do not know how to change to keep-up with their competitors, and inevitably watch their sales and profits decline, best employees leave, and their stock values depreciate.
And there’s the simple question: Why?
Some often conclude that it is a simple explanation of companies freezing when confronted with a disruption in business conditions; yet, it is quite the contrary. Although the leading managers recognise the threats early on, establish initiatives in response and try to counteract the change, the once-successful company still falters.
The issue as to why good companies go bad, is not because of the inability to take action, but simply the inability to take appropriate action. This is often due the organisations tendency to follow old, established patterns of behaviour, even in response to new, dramatic environmental shifts. As the organisation is stuck in the old-way of thinking, rather than trying to dig themselves out of a hole, they just deepen it.
This is where the need of modernised workplace strategies are essential. Are you seeing your competitors getting a head start and your efforts are no longer matching them? It may be time to advance your organisation with the proven benefits of strategic workplace consultancy.
Contact Hubb Consultants today to find out how your successful company can stay in lead and increase your competitive advantage.