E-business and change – Managing the change in the digital economy

Abstract

Very little has been written about aspects of management of change (MOC) such as resistance to change, leadership or communication and how these influence companies and their performance and development in the digital economy. This paper provides insights and best practices in the areas of resistance to change, people, leadership, culture and organisational models. From a management of change perspective there are three reasons why people resist change. These three reasons will be examined, with examples of companies who deal successfully with resistance. How do organisations and companies create a high level of identification of their employees and how do they demonstrate an authentic belief in the value of people? Attracting the needed talents begins with an organisation's ability to understand the psychological and professional predisposition of those entering the workforce. The most critical aspect of the digital economy is that of leadership. But what does leadership mean in the digital economy? Three key characteristics of E-leaders in today's business landscape will be presented. Although corporate culture is to a high degree an intangible asset, few would deny that it plays an essential role in shaping the character and leadership practices of corporations in the digital economy. The role of culture in start-up companies will be examined followed by a discussion of a reinvention of corporate culture as established companies become committed to the spirit of this new era. The new organisational models driven by digitisation will be a major departure for most companies. This paper also discusses two key trends in this area. In the same way that the digital economy or e-business will not stay static, companies new and old alike must continue to reinvent themselves. The capacity for change focuses on agility, flexibility, speed and value through people. Winning organisations do not fear the future, but rather are able to change processes, business models, products and services with speed and determination. While doing so they continuously reengage employees, partners and whole networks of teams with common values and a shared desire to be successful in the digital economy.