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How to Survive a Company Merger

How to Survive a Company Merger | Business change | Scoop.it
Mergers can open new opportunities for employees. Survival just takes some careful planning.

 

Few events are as stressful for employees as news of a merger or acquisition. Regardless of how brightly the "marriage" of two companies is presented, jobs will be lost. But mergers can also open new opportunities for employees who may end up succeeding their laid-off boss. Survival just takes some careful planning.


Via The Learning Factor
David Hain's insight:

There are always winners and losers, since no merger I know of has ever been truly of equals.  But there are also opportunities...

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The Learning Factor's comment, January 14, 2013 5:00 PM
Hi David, very true. Sometimes when you are right in the thick of things it is hard to see opportunities. However with hindsight, many people look back with a more positive view.
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Individual/Organizational Change Integration | Prosci

Individual/Organizational Change Integration | Prosci | Business change | Scoop.it
Effective change management requires two components: an individual change management model that describes how a single person makes a change and an organizational change management process that describes the process and tools practitioners use.

The individual change management model provides the outcome-orientation to change management. The Prosci ADKAR Model describes what you are trying to achieve when you work to manage the people side of a project or initiative.

The organizational change management process provides the activity-orientation and lays out the actions a practitioner must complete for a project or initiative. The Prosci 3-Phase Process describes what you will do to encourage those individual transitions required by your project.

Managing change without both perspectives is ineffective. Without an individual change management model, you cannot focus on the project outcomes. Instead, you become focused on your work (such as sending a newsletter) instead of what you are trying to achieve (such as sharing why the change is necessary).

But without an organizational change management process, changes become unmanageable when they impact dozens or hundreds or thousands of employees. The organizational change management framework guides actual work in a manageable and repeatable way.
David Hain's insight:

Prosci are pretty good on change matters - read about their methods here!

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Distortions and deceptions in strategic decisions | McKinsey

Strategic decisions are never simple to make, and they sometimes go wrong because of human shortcomings. Behavioral economics teaches us that a host of universal human biases, such as overoptimism about the likelihood of success, can affect strategic decisions. Such decisions are also vulnerable to what economists call the "principal-agent problem": when the incentives of certain employees are misaligned with the interests of their companies, they tend to look out for themselves in deceptive ways.

Most companies know about these pitfalls. Yet few realize that principal-agent problems often compound cognitive imperfections to form intertwined and harmful patterns of distortion and deception throughout the organization. Two distinct approaches can help companies come to grips with these patterns. First, managers can become more aware of how biases can affect their own decision making and then endeavor to counter those biases. Second, companies can better avoid distortions and deceptions by reviewing the way they make decisions and embedding safeguards into their formal decision-making processes and corporate culture.
David Hain's insight:

Self-awareness and willingness to look at team process as well as cognitive analysis are critical strategic advantages when taking big decisions!

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We're moving fast. But nobody knows where we're going

We're moving fast. But nobody knows where we're going | Business change | Scoop.it
Adapting to an uncertain future

The sooner we realize that long-term forecasting is becoming obsolete, the better we’ll be able to cope with the new reality. Businesses are already responding by hiring Chief Digital Officers, promoting entrepreneurial culture, and elevating the innovation imperative to the level of existential priority. Perhaps another implication will be the end of business strategy as we know it. Strategic foresight and scenarios planning seem to offer better methodologies for business to adapt and adopt to the ever-changing competitive environment.

The wild speculation about the accelerating technological process is hardly a novel trend. The news of self-driven carriages must have terrified horse owners; and those pundits who witnessed automation of factory jobs predicted sustained mass-scale unemployment. Every time we attempt to predict the future with the contextual awareness of today, we struggle with the failure of imagination or, perhaps, we discount the notion that unknown unknowns are unknowable by definition.
David Hain's insight:

What is the impact of speed of change on organisation strategy? Scenario choices better suited than impossible-to-predict plans.

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Transformer

Transformer | Business change | Scoop.it

The low-entry, high-growth model is classic disruption theory à la Clayton Christensen, author of The Innovator’s Dilemma. But the pattern Christensen describes isn’t the only type of innovative strategy that can transform industries such that incumbents can no longer do business as usual. Uber has transformed the taxi industry; Tesla is transforming the automotive industry; Amazon the retailing industry; Build-a-Bear the stuffed toy market; and Cirque de Soleil the entertainment industry. They are all using innovative strategies that differ from Christensen’s classic disruption theory. Yet what is similar is that they are forcing incumbents to change business-as-usual. This happens when innovators offer value that is attractive to incumbents’ customers, and is delivered through a business model that is difficult for incumbents to imitate. Here are five innovative strategies that upstarts, or
incumbents, may use that can
radically transform industries.

David Hain's insight:

There are many ways to be disruptive in your chosen sector - some examples here!

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Agility Levels the Playing Field. Anticipation Changes the Game. 

Agility Levels the Playing Field. Anticipation Changes the Game.  | Business change | Scoop.it
The global marketplace is hardly a novel concept. But what is constantly new is the shifting challenge of knowing where you and your organization best fit into that setting—a form of ongoing flux that’s only going to accelerate in the future.

That’s why an anticipatory mindset is critical to succeeding in an economy largely defined only by the geographic limits of the planet. As is the case with so many traditional ideas and principles, the strategies that worked yesterday may only be holding you back today and tomorrow.
David Hain's insight:

Foresight is critical in driving cars. It's also critical in driving change!

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If Scale Isn’t The Goal, Then What Is? – Strong Words – Medium

If Scale Isn’t The Goal, Then What Is? – Strong Words – Medium | Business change | Scoop.it
From restaurants to direct mail, there’s pressure to be scalable, to be efficient, to create something easily replicated.
Which is often used as the reason it’s not very good. “Well, we’d like to spend more time/more care/more focus on this, but we need to get bigger.”
What if you started in the other direction?
What would happen if you created something noteworthy and worried about scale only after you’ve figured out how to make a difference?
David Hain's insight:

Growth isn't the only reason for change - and maybe it's not a great measure?

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Design Thinking is Never Enough

Design Thinking is Never Enough | Business change | Scoop.it
Design thinking has become such a hot topic amongst L&D and innovation teams at large companies that one would think executives see it as their silver bullet solution to their innovation woes (that, or it’s a way for them to be seen to be investing in innovation and providing a creative outlet for their millennial staffers).

Whatever the case, over 80% of new product launches at large companies fail and it’s because, as Michael Dell famously put it, “ideas are a commodity, execution of them is not”.

The same holds true in the startup world where 95% of startups fail, usually due to market failure stemming from botched execution.

While design thinking is indeed an incredibly powerful ideation and prototyping tool that I use with my team and with clients, it is but one of many pieces to the corporate innovation puzzle.

It alone won’t deliver any value beyond temporarily galvanizing employees and delivering some chemical reactions.
David Hain's insight:

Design thinking is great, but without mindset behavioural change it is pretty empty!

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Us versus Them: Reframing Resistance to Change

Us versus Them: Reframing Resistance to Change | Business change | Scoop.it

In the worst-case scenario, “us versus them” thinking devolves into factions that compete but never really engage. According to Robert Fritz, author of The Path of Least Resistance for Managers (Newfane Press, 2011), the result is an oscillation between changes, rather than real advancement. “Companies swing back and forth, from centralization to decentralization, acquisition to divestiture, customer focus to shareholder focus,” he explains. “It’s like a rocking chair: lots of movement, with very little progress.”

The solution is to reframe how we think about resistance. Rather than assuming critical thinkers are resistors, we would do better to treat them as guardians. Guardians see what needs to be protected, and the trust that can be destroyed by a broken promise or a shortcut. Who else will ask the hard questions? Guardians keep us honest in the face of self-delusion or blind spots. For example, one executive I worked with learned that his frontline professionals were convinced that new data he wanted to capture would be used in a punitive way. He had no intention of doing so, and had dismissed their concerns as ridiculous. But, in fact, he had provided no assurances to the contrary, and such abuses had occurred in the past. From the employees’ point of view, he later acknowledged, their questions were legitimate. Seeing this, he gave them practical assurances — and backed them up over time through his actions.

David Hain's insight:

Meet the guardians of your organisation! you might think of them as luddites, but that's probably not helping your change effort!

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The next-generation operating model for the digital world | McKinsey & Company

We have found that for companies to build value and provide compelling customer experiences at lower cost, they need to commit to a next-generation operating model. This operating model is a new way of running the organization that combines digital technologies and operations capabilities in an integrated, well-sequenced way to achieve step-change improvements in revenue, customer experience, and cost.

A simple way to visualize this operating model is to think of it as having two parts, each requiring companies to adopt major changes in the way they work:

The first part involves a shift from running uncoordinated efforts within siloes to launching an integrated operational-improvement program organized around customer journeys (the set of interactions a customer has with a company when making a purchase or receiving services) as well as the internal journeys (end-to-end processes inside the company). Examples of customer journeys include a homeowner filing an insurance claim, a cable-TV subscriber signing up for a premium channel, or a shopper looking to buy a gift online. Examples of internal-process journeys include Order-to-Cash or Record-to-Report.
The second part is a shift from using individual technologies, operations capabilities, and approaches in a piecemeal manner inside siloes to applying them to journeys in combination and in the right sequence to achieve compound impact.
David Hain's insight:

Interesting ideas on how to be more holistic, and more effective as a result!

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VR is disrupting the retail industry – but not in the way you might think

VR is disrupting the retail industry – but not in the way you might think | Business change | Scoop.it
Virtual reality is being talked about a lot right now. Depending on who’s doing the talking, VR is either on its way to change the future as we know it, or it’s on a path toward another 90’s era extinction. Whether or not VR will make its way into consumer’s living rooms any time soon remains to be seen—in the gaming world, it’s an amazing technology but comes at a hefty price. In other industries, however, VR has already make waves when it comes to creating a learning space. We’ve seen how VR can help doctors practice medical procedures without the risk; how it can take children into the solar system; and how it helps people in different cities, countries or continents view real estate without hopping on a plane.

For those of us in the retail space, virtual commerce--or "v-commerce"--is a term you can’t get away from. We’re seeing clothing companies using it to try out virtual dressing rooms, or as a way to bring shoppers into the store with VR marketing campaigns. It’s very possible consumers will be able to shop for their weekly groceries all within a virtual space, much like they shop online now, but with the ability to actually pick up products and walk around a virtual store. This has huge potential for home décor, as we’ve seen with Ikea, and for making large purchases that wouldn’t normally be purchased online.  
David Hain's insight:

More digital disruption - this time Virtual Reality in retail!

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Steven Saura's curator insight, March 24, 10:15 AM
VR is making more headway in retail with business operations than shopper-facing applications.  
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7 Compelling Reasons for Change Management Deployment

7 Compelling Reasons for Change Management Deployment | Business change | Scoop.it
A sample of over 200 business leaders and change managers attending a webinar on Enterprise Change Management provided their articulation of the ECM Value Proposition by completing the following statement:

 

"We, as an organization, should work to embed change management and build organizational capabilities and competencies because..."
 

Their responses fell into seven main themes:

Driving more successful change - Data and experience show that effective change management drives greater benefit realization and achievement of results and outcomes. Building change management capabilities means greater success on critical projects and initiatives.
Handling the amount of change occurring - Given the amount of and frequency of change occurring in organizations today, becoming better at implementing change is essential.
Addressing the costs of poorly managed change - Many organizations have examples, or even a legacy, of changes that were poorly managed, did not deliver results and created stress and confusion in the organization. Under-delivering on change is not tolerable going forward.
Aligning organizational practice with organizational values - This case is particularly relevant for organizations that espouse the importance and value of their people.
Preparing the organization for the future - The horizon for many organizations, and even industries, includes significant changes that are necessary to remain competitive and successful.
Creating consistency and efficiencies in approach - Change management practices across an organization can be more effective when there is a standard approach in place.
Building needed internal capabilities - Change management is viewed as an essential organizational capability and individual competency for employees.
Below are real responses from webinar attendees for each of the themes, along with complimentary data and findings from Prosci's benchmarking research:
David Hain's insight:

Where change management is at, from organisational practitioners...

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120 Machine Learning business ideas from the latest McKinsey report.

120 Machine Learning business ideas from the latest McKinsey report. | Business change | Scoop.it
Machine learning is on the edge of revolutionizing those 12 sectors. Most leaders in those industries look at Machine Learning and see a non-stable, none viable technology in the short term. They are wrong. This will allow technological Entrepreneurs to disrupt them.
David Hain's insight:

Rise of the Machines - part 473! It's already happening - think it through! This might help...

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New Study Finds Most Leaders Unprepared to Meet the Demands of Digital Disruption

New Study Finds Most Leaders Unprepared to Meet the Demands of Digital Disruption | Business change | Scoop.it
A new report, Redefining Leadership for a Digital Age, presents findings from a global survey of more than 1,000 executives across 20 different sectors.

In turbulent times, leaders are caught in a technology-change vortex that is drawing in whole industries and creating disruption on an unprecedented scale. An eye-watering 92% of leaders said they are feeling the effects of digital disruption, with one-third rating the impact of digital disruption on their companies as "very significant."

Despite the quickening pace of digital innovation, less than 15% of leaders said that they were "very prepared" to meet the demands of a digitally-disrupted business environment. The majority of participants (almost 80%) indicated that they were "starting preparations" or were "fairly prepared" to tackle digital disruption.

The research further reveals:

Less than 20% of respondents indicated that digital technologies such as analytics, mobile and social media are fully integrated into their organisations
30% of respondents either rarely or only occasionally use digital tools and technologies
In light of the clear understanding of the importance of digitisation, the report outlines the following "HAVE" competencies as the most important success criteria for leaders facing a landscape characterized by digital disruption:

David Hain's insight:

We're getting disrupted like it or not - and most of us appear not to! Some tactics to get on board here...

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Jose Luis Yañez's curator insight, March 8, 5:41 AM
New Study Finds Most Leaders Unprepared to Meet the Demands of Digital Disruption
 
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Expert Project Management - Max's Papers - Index

Expert Project Management - Max's Papers - Index | Business change | Scoop.it
After the last two papers, it is appropriate that Paul Barshop should come along with "What every executive needs to know to avoid costly mistakes and make major investments pay off", the sub-title of his book. Paul writes a clear description of the project management Stage-Gate process, and why it is so important for executives to understand it and implement it.
David Hain's insight:

Attention project managers - excellent database of case studies to mine, here!

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The global forces inspiring a new narrative of progress | McKinsey

We hear about the challenges every day in our conversations with global business leaders: How long can their traditional sources of competitive advantage survive in the face of technological shifts? How will changing consumer and societal expectations affect their business models? What does it mean to be a global company when the benefits of international integration are under intense scrutiny?

All good questions. But they should not distract from the extraordinary opportunities available to leaders who understand the changes under way and who convert them into positive momentum for their businesses. Our hope in this article is to help leaders spot those opportunities by clarifying nine major global forces and their interactions. Significant tension runs through each of them, so much that we’d characterize them as “crucibles,” or spaces in which concentrated forces interact and where the direction of the reactions under way is unclear. These crucibles, therefore, are spaces to watch, in which innovation “temperature” is high.
David Hain's insight:

An attempt to make sense of the confusing trends that unsettle the organisational environment.

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Incubators and accelerators: An updated directory for the UK | Nesta

Incubators and accelerators: An updated directory for the UK | Nesta | Business change | Scoop.it
Nesta has a long-standing interest in understanding startup support, including methods of incubation and acceleration. 

Today, we publish a new study, commissioned by the Department for Business, Energy and Industrial Strategy and produced by Nesta with support from the UK Science Parks Association (UKSPA) and Synoptica, an artificial intelligence data provider, which maps the landscape of incubators and accelerators in the UK, identifying where they are located and what sectors they cover. 

At the same time, we are also publishing a new directory of incubators and accelerators in the UK. This directory is, we believe, the most comprehensive of its kind for the UK and we hope that it will be a useful tool for both entrepreneurs searching for programmes and facilities to which they can apply, as well as to researchers.
David Hain's insight:

Where you can go in the UK for start up or growth support!

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Strategy Is Not About The Competition 

Strategy Is Not About The Competition  | Business change | Scoop.it
As an inherently competitive species, we are greatly tempted to think of business as war or sport where one’s gains can only come at the expense of our rivals—where winning means the other guy is losing. (Or as Genghis Khan is often quoted: “It is not enough that I succeed. Everyone else must fail.”) Indeed, there are strong motivational benefits to rallying around “beat Coke” if you are Pepsi, “buy Detroit” if you are Chrysler, or a “holy war with Google” if you are Apple. But such “strategies” will only be successful if they spur their organizations to bring better products and total value propositions to their target customers.
Business is not war or sport. Strategy in business is different than strategy in war and sport. It’s not about competitors. It’s about the customer, your value proposition, and the capabilities you need to deliver it better than anyone else. It’s that simple—and that difficult.
David Hain's insight:

Some useful thoughts on strategy formulation!

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The ‘how’ of transformation | McKinsey 

Our experience suggests that, regardless of the circumstances, real transformation happens only when a leadership team embraces the idea of holistic change in how the business operates—tackling all the factors that create value for an organization, including top line, bottom line, capital expenditures, and working capital. This is easier said than done. Ordinary approaches to transformation typically deliver ordinary (and often suboptimal) results.

To achieve extraordinary results, we believe a comprehensive, highly disciplined methodology—encompassing both the “what” and the “how”—is needed (exhibit). The “what” entails the smooth movement of the many specific transformation ideas and initiatives through three phases: from independent diligence to planning to implementation. These phases will sound familiar to the seasoned executive.
David Hain's insight:

Setting transformation goals is easy. Managing the process to get there is really hard! Think holistic to improve...

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Outline for strategic planning

Outline for strategic planning | Business change | Scoop.it
Strategic planning can provide the geometry for organizational alignment, the blueprint for sustained brilliance. It has never been more important to provide alignment for maximum focus and effectiveness. In a polarized world we need the discerning wisdom possible in strategic plans that promote human connection while encouraging diversity and human brilliance.

Here, I am updating the glossary of strategic terminology I published six years ago, to provide a clearer outline — addressing contemporary challenges to organizational effectiveness. This outline reflects the order in which I facilitate the strategic planning process, with the goals of insightful guidance to every employee and sustainable brilliance throughout the organization.
David Hain's insight:

A strategy consultant on the order of things...

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Paul Niven Makes You Care about Strategy Again

Paul Niven Makes You Care about Strategy Again | Business change | Scoop.it
Today I’m talking with Paul Niven, who is taking a stand against the frustratingly low levels of strategy execution in organizations here in North America and around the world. Paul is the co-author of Objectives and Key Results: Driving Focus, Alignment, and Engagement with OKRs.

As you might expect, Paul is a leading researcher and authority on OKRs. In this interview we discuss:

Why strategy execution is a number one concern for executives.
The factors that contribute to an organizations inability to deliver on strategy.
Mission and vision, and the difference between them.
How to prevent tediously bland statements of non-achievable, random aspirations.
Identifying broad priorities.
And much, much more . . .
David Hain's insight:

Insightful interview on strategy.

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The global forces inspiring a new narrative of progress | McKinsey & Company

The global forces inspiring a new narrative of progress | McKinsey & Company | Business change | Scoop.it
Corporate leaders today need to rethink where and how they compete, and also must cooperate in the crafting of a new societal deal that helps individuals cope with disruptive technological change.

That broad narrative of intensifying competition, as well as the growing need for cooperation, contains challenges, but also great opportunity. We hear about the challenges every day in our conversations with global business leaders: How long can their traditional sources of competitive advantage survive in the face of technological shifts? How will changing consumer and societal expectations affect their business models? What does it mean to be a global company when the benefits of international integration are under intense scrutiny?

All good questions. But they should not distract from the extraordinary opportunities available to leaders who understand the changes under way and who convert them into positive momentum for their businesses. Our hope in this article is to help leaders spot those opportunities by clarifying nine major global forces and their interactions. Significant tension runs through each of them, so much that we’d characterize them as “crucibles,” or spaces in which concentrated forces interact and where the direction of the reactions under way is unclear. These crucibles, therefore, are spaces to watch, in which innovation “temperature” is high.
David Hain's insight:

Some opportunities for shift in the midst of digital and societal disruption!

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Six symptoms your organization is killing innovation

Six symptoms your organization is killing innovation | Business change | Scoop.it
The empirical model developed by IDEO, with the six innovation vectors, shed light on what drives innovation at organizational level. Insights and understanding from the framework can be used to spot symptoms of killing innovation in a specific organization.

David Hain's insight:

Some innovation diagnostics to pay attention to!

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IBM Has Created A Revolutionary New Model For Computing 

IBM Has Created A Revolutionary New Model For Computing  | Business change | Scoop.it
In the coming years, IBM will be working with clients, such as those in the firm’s analytics practice, to develop specific applications based on the TrueNorth chips. It is also developing a network of partners to help create next generation products in areas like robotics, medical imaging and autonomous cars.
For the rest of us, the neomorphic chip revolution will be mostly invisible—few of us will ever see one or recognize it if we did—but we will notice a change in how we work with technology. Rather than hyper-rational calculating machines, computers will think more like we do and help us to collaborate more effectively—with each other and machines.
The future of technology is all too human.
David Hain's insight:

Can technology hack and harness the human brain? That would be some disruptor!

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Guiding the Organizational Change Journey

A Hero's Journey perspective on guiding organizational change and transformation and comparison to traditional change management approaches, including aspects of motivation, emotions, positive focus and alignment with the organization's core ideas and strategy. Extensive use of organizational change journey mapping and narratives in leadership. A proposal for epic servant leadership as the ideal guide for organizational change journeys.
David Hain's insight:

Really useful take from Arturo Bencosme on how too use the hero's journey as a change strategy. Love it!

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Daniel Tremblay's curator insight, March 14, 7:55 AM
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Ozymandias - Making Change Endure

Ozymandias - Making Change Endure | Business change | Scoop.it
I remember earlier in my career taking on a role with an agenda and  personal purpose to create a specific set of changes in that organisation. For the first 18 months, great progress was made. Then things changed. I watched as most of the change we had created was unwound. Why it unwound matters little. It was eroded piece by piece.

The Slinky of Change

Not surprisingly, I was disappointed. It seemed so much progress had been lost. It had felt like we were close to the end. I did not relish starting again. 

Change takes determination and commitment. I started pushing again for the needed changes. To my surprise, I discovered what I had seen as a rollback was actually a spiral. We rolled back, around and up. The new efforts to drive change began further back than we achieved.  However we had made progress.  We began again higher up as if we had ascended a spiral, a slinky of change.
David Hain's insight:

The 'slinky' of change - I think this is a nice representation by Simon Terry!

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