What Happens if You Don’t Adapt to Change?
History clearly shows what happens to businesses that are unable to adapt to change. Writing in Forbes, Jon Dwoskin has described how companies like MySpace and Borders, who were once industry leaders, collapsed because they were unable to adapt. These companies did not respond quickly enough to incoming threats and soon found themselves overtaken.
In moments of crisis, adaptability is particularly important. In the wake of the 2008 financial crisis, for example, the companies that fared best were those that adjusted rapidly to what became known as the “New Normal”. On the other hand, the companies that were unable to shift their focus and rethink their operations struggled to survive.
Similarly, during the COVID-19 pandemic, the companies that succeeded were those that adapted quickly to the new working conditions. This involved shifting to remote forms of working and engaging in digital transformation.
On an individual level, an employee that is not able to adapt risks becoming stuck in certain patterns of work. They might find themselves stagnating, unable to pick up new skills. They might, therefore, find it difficult to react when things go wrong. An unadaptable employee can also be difficult to work with, making them less likely to be chosen for team projects or presented with opportunities.