Business challenges we all face when responding to change.
Research by Progress Software/Economist Intelligence research showed some interesting statistics regarding the shifting business landscape around us. The statistics show that the pace of business is the on the rise, and the top three factors causing this change over the past five years are the volatile economic environment, increased competition and a fast-changing regulatory environment. Unfortunately, businesses have barriers to overcome to react to the fast pace, including lack of resources, lack of coordination and inaccurate or incomplete data. Take a look at their infographic.
Most importantly, an overwhelming 53% of people believe leadership is ineffective in making the right decisions about how or when to respond to change. Fortunately, we can all overcome these challenges by incorporating strong leadership, effective flow of information and keeping accurate and up-to-date data.