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The current economic era demands a focus on companies’ continuing commitment to change. Rather than slowing down in the post-pandemic world, change is picking up speed and becoming a constant. To survive, your organization needs a strategy and a management model that can adapt and flex with the pace of change, rather than being disrupted. Leading companies such as Haier, GE Appliances, Google, Microsoft, and many more now state: Not developing is the biggest risk!. They all identify three elements to change which the company must excel at, and manage: understanding change, mobilizing to change and transforming to change. In other words, every company has to develop, and be excellent on executing Dynamic Capabilities- and this should be a strategic focus for Board of Directors.
Professor David Teece, is a New Zealand-born US-based organizational economist and the Professor in Global Business, and Director of the Tusher Center for the Management of Intellectual Capital at the Walter A. Haas School of Business at the University of California, Berkeley. Professor Teece is also the executive chairman and cofounder of Berkeley Research Group, an expert services and consulting firm headquartered in Emeryville, California.