Tangible Change Management Examples for SMEs

[nishat@264]

In order to achieve improvements and progress, companies have to change from time to time. Change management is an important and decisive factor for successful companies, especially today. According to experts, the probability that a company will grow and achieve its goals through good change management is six times higher than that of those with poor change management. Regardless of whether you want to change your marketing strategy or switch to new software, you should know when and how your company needs to change. To show you what a company's success story can look like, we would like to present you with some successful change management examples in this article.



Successful Change Management Examples
Change management is generally about profound indonesia whatsapp data changes that have a major impact on the entire company. This can involve, for example, the restructuring of departments or processes. There are many companies that have achieved positive results with change management and from which other organizations can learn. The following three companies have implemented their change management correctly:

1. Netflix adapted to the digital age
Netflix was founded in 1998 as a DVD mail-order service based on a list of films that users would like to watch. At first, Netflix sent films to its customers' homes one at a time. With this clever business model, the company gained hundreds of thousands of customers by the early 2000s. In 2002, the company went public and realized that it had to adapt to the changing times. Consumer expectations were changing along with the digital age.

Netflix realized that its long-term success was at stake. The use of physical media was declining rapidly and Netflix CEO Reed Hastings knew he had to rethink. He was sure that his company would be very successful if it could succeed in streaming. So Netflix switched to a streaming service and trusted its digital strategy. Had the company not met consumer expectations and stuck to shipping DVDs, Netflix would probably have gone under along with the many other rental providers of physical media. Instead, thanks to successful change management, Netflix is ​​now one of the absolute pioneers of streaming services with a high number of subscribers.


Good to know :
The following fact gives courage to change: Even the change process of a pioneer like Netflix did not always run smoothly. Especially at the beginning of the transformation, many customers complained that Netflix suddenly wanted to charge separate fees for digital streaming and DVDs. Around 800,000 customers left the company at the end of 2011. As a result, Netflix's share price fell by 77% in a very short period of time. However, Netflix was convinced of its plan and stuck to the strategy it had started to continue to invest all its resources in digital streaming and its own programs. In 2017, Netflix already had more subscribers than the cable TV providers in the USA.