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January 23, 2007

Essence of Change

There has been a lot written about outsourcing and the over all impact of globalization to our economy. Some authors have even named this natural progression of value creation as the China effect, the Wal-Mart effect, and even the Starbucks effect. The essence of this progression is that organizations are utilizing the dramatic advancements in technology to streamline their business and create competitive advantages. Wal-Mart developed a highly efficient supply chain and literally destroyed the business models of Montgomery Ward, Sears, and J.C. Penny. Many people believe that Wal-Mart was the first retailer to challange the business model but actually J.C. Penny started the down fall of Sears and Montgomery Ward; Wal-Mart simply finished them off. Change is progress and for most of us, creates uncertainty. Individuals that embrace change will succeed and flourish in the long run. Without change nothing would grow or blossom. No matter what business, position, or role you are in, you can’t sit still and watch as others pass you by.

Posted by Todd at January 23, 2007 11:53 AM