"The willingness to take painful steps in a transformation without the pressure of a crisis is not very pronounced."
There are countless examples of companies that lose their market-leading position because they fail to react to changes in their environment and transform themselves in a timely manner: Galeria Kaufhof, Nokia, and Kodak are just the most well-known examples.
But there are also many companies that master this challenge. They further develop their business models and products and remain far ahead of their competition. Names like Netflix, Microsoft, and Apple represent these transformation winners.
"The longer you try to suppress the pain, the greater the cost."
Actively engaging in transformation early on is significantly cheaper and more rewarding than making the necessary adjustments during restructuring when money is tight and cost reductions are the priority.
But how do entrepreneurs recognize when they need to start a transformation? And how do they find out if they are on the right track? In the first episode of the “Leading in Transformation” podcast, transformation managers Georgiy Michailov and Janis Steinfort discuss this with moderator Michael Hedtstück – using concrete examples from German SMEs.
*Video only in German
