Introduction

Abstract

The quest for change has never been stronger than in today's turbulent markets. Companies that operate in such environments have to develop the ability to seize new opportunities, adjust their strategies to volatile markets, and avoid complacency (Birkinshaw & Gibson, 2004). While organizational change is necessary, it also involves risks. BP executive Fiona MacLeod, who has more than 20 years' experience in leading change management programs in the United States, Europe and New Zealand, has for example recently emphasized that the corporate world is ‘addicted’ to serial change management programs that consume massive resources, but ultimately fail to solve the problems they aim to address (Knowledge@Wharton, 2009a). She has described how many change management programs fail, only to be followed by similar initiatives within a year or two, and often before the original program has been completed.