This paper focuses on adapting to Competition. Organizational change can be broadly defined as the shift of an organization from a particular state of affairs to another. It may involve a change in the organization’s structure, policies, procedures, strategy, technology, or culture (Stouten et al., 2018).

Adapting to Competition

Project 2 Research: Adapting to Competition. Organizational change can be broadly defined as the shift of an organization from a particular state of affairs to another. It may involve a change in the organization’s structure, policies, procedures, strategy, technology, or culture (Stouten et al., 2018). Internal or external factors can precipitate change. Internally, the cause can be a change in leadership or strategy. Externally, it can be  about by changes in the business environment, such as a change in the taste and preferences of customers, new legislations, or the invention of new technologies.

The business landscape has drastically changed in the 21st-century. Technological advancement and the increase of ease with which customers can shift from one seller to another has dramatically increased competition. As such, organizations must frequently make changes to cope with the competition.

Adapting to Competition

Past studies have shown that organizational change always faces resistance from various stakeholders. The resistance is due to the fact that change is associated with disruption of habits and uncertainty (Cinite & Duxbury, 2018). Therefore, the management should closely involve the various stakeholders to ensure that the change process succeeds. There should also be open channels of communication to ensure that all stakeholders fully understand the process and have their voices heard (Veloso-Besio et al., 2019).

This paper seeks to discuss how organizations can adapt to competition and hence thrive in the modern business environment. General Problem Statement The general problem to focus on  in this paper is how organizations adapt to competition. The fact that the current business environment is volatile is not in doubt. https://youtu.be/V0_lIf_20TI

Adapting to Competition

The fact that the current business environment is volatile is not in doubt. However, according to research, these changes in the environment do not directly contribute to the failure of the business. Rather, an unwillingness or inability to adapt to the changes leads to failure. A Forbes study revealed that 88% of the companies in the 1955 Fortune 500 list did not make it to 2014 (Boss, 2016). Failure to adapt is among the reasons why these companies did not survive. Adapting to the changes keeps the organization relevant and valuable.

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