Ready for Some Change?

You’ve probably heard it said that the only certainty is change. While I believe there are other certainties, I can’t deny that change is inevitable.

Current Times

Today there is no doubt that the amount and pace of change is greater and faster than ever. There appears to be no letup in sight, and like it or not we will all have to confront change and adapt.

Some Business Changes

There was a time not so long ago where a business may look very much like if did 15 or 20 years prior. Those days are essentially gone. Now, it’s change or be changed. Products become obsolete, employees come and go, and the demands of the marketplace are in a constant state of flux. We either learn to deal with it or our business will perish.

A Little Pressure

New businesses regularly enter the market. While most have minimal impact, others are what we call game changers. A classic example would be Apple. The products they have introduced have changed the way we live and function. Likewise, Google has had a similar impact. But, products and services for consumers are just the more visible things we see that prompt and pressure us to change.

Business Practices

Today many businesses find it more cost effective and productive to outsource many functions, including some that are considered support functions. For example, for 20 years my role has been to provide part-time CFO and Controller services to small businesses. Why? Frankly, it is more cost effective for the company and they generally get a higher level of performance than they would by having this role in-house. Likewise, you know that many companies outsource manufacturing.

The pressures on businesses to improve profitability and efficiency mandate many changes. Things like just-in-time inventory have now transitioned into other areas, including the concept a just-in-time accounting close.

Improvising

Because things change so fast and because there is reason to believe this will continue to be a certainty, businesses must have the ability to be flexible and make quick changes. Manufacturers need to be able to quickly adjust to demand. Companies are more and more taking an approach that allows them to experiment with product offerings. It is an on-going case of out-with-the-old and in-with-the-new.

Is your company positioning itself to make rapid adjustments? Are you comfortable with the idea that your company could be dramatically different just a year down the road? Who knows, your entire product line could change.

If you want to know more, contact AimCFO – Contact

As always, your comments are welcomed.

Share

Leave a Reply

Enter your email address:

Delivered by FeedBurner