Change or Die According to Cisco CEO

Is your company prepared to change? At Cicso’s sales conference in June, predictions made by Cisco’s newly retired CEO John Chambers says that one third of businesses today will not survive.

“If I’m not making you sweat, I should be,” he said.

According to a Business Insider article written by Julie Bort, “’Forty percent of businesses in this room, unfortunately, will not exist in a meaningful way in 10 years,’ he told the 25,000 attendees, adding that 70% of companies would ‘attempt’ to go digital but only 30% of those would succeed.” Chambers says the only way to survive is to transform your company into a digital version of its current self.

“‘It will become a digital world that will change our life, our health, our education, our business models at the pace of a technology company change,’ Chambers said. He warned companies that they could not ‘miss a market transition or a business model’ or ‘underestimate your competitor of the future — not your competitor of the past.’” writes Bort.

So how do you prepare your company to embrace and cause change? IBM found that “changing mindsets and attitudes” is the single most significant challenge when implementing change projects, far ahead of process, resources or technology.1 In order to be the change and create digital change, you have to prepare people mentally to be change-focused and to be agile. You must also prepare people to be resilient when change is occurring.

Adaptive organizations are ones that have the capacity to move quickly to spot and exploit opportunities in fast-changing environments and have the ability to be resilient during times of change. TRACOM realizes the need for adaptive mindset training among those companies who wish to live a long and prosperous life. TRACOM’s Adaptive Mindset programs incorporate both a Resiliency specific product and we have also begun to develop an Agility course.

John chambers says, “The number one reason companies won’t be successful… you don’t reinvent yourself. You have to have the courage to do that.”

Recently, Minnesota Change Management Network or MNCMN teamed up with TRACOM in the Twin Cities where more than 30 change executives and consultants came together in for two workshops focused on Building a Resilient Mindset. The workshops utilized TRACOM’s Adaptive Mindset Profile and curriculum. It focused on how Mindset can support change efforts including:

  • Productively dealing with change in the workplace
  • Overcoming the natural tendency for people to fear and resist change
  • Managing stress to achieve accelerated, positive change
  • Understanding our individual strengths and weaknesses related to resilience

Read the Business Insider article by Julie Bort, “Retiring Cisco CEO delivers dire prediction: 40% of companies will be dead in 10 years”

Learn more about this case study: Building Resilience to Enable Positive Change

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