Change Management is how businesses can thrive during & post the pandemic

Change is the only constant. Change has never been this fast and will never be this slow again.

Peter Ferdinand Drucker was an Austrian management consultant, educator, and author, whose writings contributed to the philosophical and practical foundations of the modern business corporation.

My learnings from the book, Switch — how to change things when change is hard By Chip and Dan Heath applied to navigating change for your business during these tough and volatile times.

More often than not, adapting to rapid change is innovation.

Here’s why ONLY ~15% of the companies have been thriving during the pandemic:

1. A lot of companies have been forced to go digital. It’s actually more about managing the change. Increasing online adoption is a lot more important than just building an online portal.
2. While most sectors saw a decline in demand, there are a few who were faced with a rapid increase in demand. Primarily, B2B SaaS, EdTech, Pharma, etc.
3. Innovative products and marketing strategies led to competitive advantages. A design thinking approach to implement through hypotheses testing worked. You have to be decisive and quick in such times.
4. Risk taking capacity. Yes, money is a factor but the ability to take a…