If we had to quote from examples about change and the VUCA (Volatility, uncertainty, complexity and ambiguity) world before Covid, the post Covid world is in itself a significant example now. Everything from the way we live, eat, commute to the way businesses function, grow or shut down, is experiencing change.
Warren Buffett says “In a chronically leaking boat, energy devoted to changing vessels is more productive than energy devoted to patching leaks.” Businesses have adopted this adage very seriously. Look at the massive amount of change that major businesses have been going through. The Idea Vodafone merger in India attracted plenty of sniggers since people have since forgotten what Vodafone started out as. Across the world, major businesses like Uber and AirBnB are facing monumental problems owing to social distancing norms while on-demand businesses like Instacart and Doordash are hiring like crazy.
The global tech giants FAAMG (Facebook, Apple, Amazon, Microsoft and Google) oftentimes lead a lot of change in the business world- by disruption, devouring entire competition or cutthroat price wars. How do leaders manage these changes? Do the skills that work for them in normal times (if at all there is such normal), prove useful in times of change? Absolutely not. An agile organization with equally agile management and workforce absorbs a lot of shocks that come with change.
A great leader would be someone who understands the nuances of change, leads the organization through it and emerge better than what it was when it all began. They say change is the only constant, but when the constant overwhelms you, one needs to learn to swim to get through.
How have you led your teams through the periods of change? What did you learn from these situations and how did it impact the team? Take a moment and comment below your experiences.