Evolve Article Example | Topics and Well Written Essays - 750 words

Evolve - Article Example The worst decision that a company can make is to the same. However, maintaining the current business framework might have short-term benefits as it may help the company survive in the foreseen future. This however fails to generate the competitive advantage that is important for the long- term survival of the business. The bottom line is that companies need to change to ensure their prolonged survival through the recession. Companies are going through the worst recession in history and the only way they can survive through it is by changing the methods they use to carry out business. This also enables the company to gain a competitive advantage over its rivals in the market. Forces of globalization, increasing competition, changing customer needs and scarcity of resources have been mounting increasing pressure on businesses in the modern world to evolve (Pentilla, 2009). Generally, introducing and managing change in companies can be difficult. Therefore, companies need to be equipped with the necessary tools and adopt appropriate mechanisms effectively implement the change and adopt a new style of doing things. There are seven steps that can be followed by companies in the process to change their game. The first step is getting comfortable with the chaos in the current business environment. The forces of globalization and technological advancements lead to regular economic turbulence. This step begins by accepting that there is need to change the way things are done within an entity. It is important to note that there are continuous disruptions between periods of prosperity and economic downturns and companies cannot forecast when they are bound to occur. It is therefore important for companies to keep up with market trends and make relevant changes in their business model (Pentilla, 2009). The second step in effectively changing a company’s game is by reevaluating the customers’ values. The economic recession has led to a drastic change in the