With the unexpected arrival of Covid-19, many companies and brands had to rethink the way they functioned and adapt to many unforeseen changes, such as work-from-home arrangements and more. The experience spoke volumes of the need to be adaptable and open to change – now more than ever because of the ever-changing climate as the world keeps adjusting to developments in the current pandemic.

According to a Barclays research report, 60% of employers agree that adaptability has increased in importance over the last ten years. But how exactly does being open to change help you and your company?

  1. Change fosters improvement

In the face of change and unexpected circumstances, you get the chance to take on new skills and find ways to improve the way you work. For example, the pandemic has pushed many companies to shift their business strategies, one of them being Zoom.

Prior to the outbreak of the virus, Zoom was meant to cater to professionals. They then decided to make a change, and expanded to cater their services to everyone, which saw the number of their users proceed to increase by millions in just a matter of weeks! In this way, Zoom took it upon themselves to embrace the change presented by the pandemic, using it to better their business strategy and thrive instead. In this, it can be seen how change pushes you and your company to shift and improve for the better!

Source: Unsplash
  1. Change encourages innovation

When your environment or conditions shift, you are forced to look at things in a different way and find new approaches to problems that need to be solved. In turn, you develop new ideas that help your brand to grow and cater to your audience in more advanced, relevant ways.

Take a leaf out of this start-up’s book! To combat Covid-19, Inokyo, a company whose business revolves around autonomous checkout at physical stores, put their resources towards creating a product that helps companies with contact tracing at their offices and storehouses. The technology used for this product was altered to fit the needs of the pandemic, having been originally intended for the purpose of automated grocery shopping (Source: inokyo.com).

This shows that the change presented by the pandemic has stimulated innovation as companies shift their resources and technologies towards ways that help to cater to the needs presented by the virus. Shifts in circumstances often lead to new needs and new opportunities. As such, being open to change gives you the advantage of being prepared to adapt and take on these new needs, allowing you to thrive in new conditions.

Source: Inokyo
  1. Change prevents stagnation

Another way that being open to change can help you and your company is by ensuring that you stay relevant and keep up with the shifting needs of society. A company that failed to do this was Blockbuster, the former king of the video rental industry that filed for bankruptcy in 2010. 10 years prior to that, the founder of Netflix had approached Blockbuster’s head to suggest an arrangement whereby the two companies could work together to mutually benefit. Netflix would handle Blockbuster’s online presence, while Blockbuster could give Netflix more exposure in stores. The head of Blockbuster laughed at the idea at the time and turned it down. He failed to realise the changing tides of the video rental industry, and how the rise of the Internet and its availability could have easily benefited the company and increased its reach and impact. This ultimately led to the downfall of Blockbuster, having let go of the opportunity presented by Netflix to adapt and stay relevant. Blockbuster stagnated and by the time they tried to get back on track and keep up with their consumer base, it was too late (Source: news.yahoo.com).

The lesson here is that change often merely presents an opportunity for you and your brand to avoid stagnating and to keep changing and adapting with the times, which encourages you to stay relevant and on top of what your consumers want and need!

Source: YahooNews

While change can be scary and uncomfortable, it is always a better practice to embrace it and go with the flow that it presents, as it ultimately encourages you and your company to be better and to keep growing as time goes on. Shying away from change only hinders your growth – so be open to change, and remember that it will only serve to push you to greater heights in the long run.

 

— —

 

Hero image: Ross Findon, Unsplash

Office

176 Orchard Road
The Centrepoint, #05-05
Singapore 238843

Privacy Preference Center