Types of change
Your organization will experience change in many different ways. Some of the prevalent types of change that can be found influencing your business:
Random change is characterized by a lack of direction and unanticipated and unplanned results.
This change strategy reflects a "hope for the best..." approach.
example: The stock market's patterns can fluctuate rapidly and the
results are sometimes unpredictable and undesired.
"hope for the best...
Evolutionary change occurs slowly over time based on what is successful at that point in time; evolutionary change lacks speed and the end state and consequences are left to chance and are somewhat difficult to predict and anticipate.
This change strategy reflects a "wait and see..." approach.
example: The evolution from an agrarian to an industrial economy
occurred slowly over a period of time with some unexpected
"wait and see...
Incremental change involves continuous and ongoing small improvements. This type of change is more controllable, but lacks magnitude.
This change strategy reflects a "small steps, small gains..."
example: A music festival gradually increases its size by adding
a new venue each year to attract a larger audience and
incrementally grow revenues.
"small steps, small gains...
Transformational change occurs rapidly, has a broad impact on its surroundings and is designed to produce significant desired outcomes. Investment is generally required.
This change strategy reflects a "bold moves, big rewards..."
example: A business merges with another company to remain
competitive in a changing marketplace, capture new markets,
reduce operating costs and increase shareholder value.
"bold moves, big rewards...