Enterprise adaptation to changes in the market environment

Abstract

Today’s pace of change in business conditions may or may not be unprecedented, but it is surely spectacular. But like most things in business, rapid change is a two-edged sword - a threat but also an opportunity. Adapt to rapid change better than competitors and you can make great strides; ignore rapidly changing circumstances and expect to go the way of the dinosaur. Adapting may be difficult, but it is not impossible. Change puts a premium on adapting; the faster the pace of change, the greater the premium. Take away change and there is no need to adapt; if it worked yesterday, there is every reason to believe it will work today.