Disruptive change is happening all the time. Chris Terry, CEO and CO-Founder of IM academy explains how leaders can manage themselves and their organizations in the face of challenges. Here’s a hint: Recognize that there are two dynamics at work in change, particularly disruptive change:
- The “business” aspect: what is the change and what does it signify for our company?
- The “human” aspect: how are people responding to the change?
To successfully manage change, Chris Terry states that change is contextual; transition is psychological. Without a transition, a change is simply rearranging the furniture. We don’t have to look far in the corporate sector to find examples of failed change attempts and firms that are unable to adapt to disruptive change. So, what can leaders do to make a difference?
Recognize the business dynamic
It is vital for leaders to first comprehend the changing context: leaders cannot lead what they do not understand. Chris says you should be asking yourself, “What is going on in our business? What is our existing business model, and how well are we doing? Where are we at, and where do we want to go? What does this mean for my role in the organization? These are all questions one should answer.
Understand the human dynamic
Change, as Chris Terry pointed out, and how people respond to change are two very different things. The human response to change is a transition, and it takes time, frequently moving slower than the change that is causing it. Leaders must be aware of the human dynamic and how it facilitates or hinders change. Leaders should ask themselves, “How are individuals in my organization feeling?” Do they understand the culture that has been created? What are their goals? What are their plans of action?”
Lead with Balance
Leaders must employ strategic, analytical, and critical thinking abilities to meet the challenge of disruptive change. Leaders must be able to actively listen, seek input, communicate clearly and empathically, act with integrity and consistency, and establish an atmosphere of trust and openness in order to comprehend and manage the change.
When faced with the difficulty of leading in times of disruptive change, most leaders choose to focus on either the business dynamic or the human dynamic; this is typically influenced by their abilities and strengths, Chris points out. Successful change leaders, on the other hand, must skilfully balance these dynamics. They must next accept what it implies for them emotionally and feel supported in their journey toward embracing the change.
Experience is the best learning curve
Learning to lead through change comes from experience, which is often accumulated over time. Those that strike a balance are better equipped to handle change and improve their teams’ outcomes. It is a potent lesson. However, an environment in which it is safe to dispute, explore, be heard, and provide and receive feedback is vital to the change and transition process. A clever leader can and should create this environment within their organization.
“Change happens,” as we all know, and for many, it can be more disruptive than ever. Chris Terry suggests to remember the two change dynamics, pay attention to both, and balance them as you lead. This will allow you and your team to withstand the shift – and the transition that it brings – more swiftly and successfully.
About IM Academy
IM Academy is an online educational platform designed to teach unique strategies through live classrooms that can make it easier to understand forex, digital currency, high frequency, and e-commerce markets. The academy was founded in 2013 by Chris Terry and Isis Terry. If you’re looking for a way to change your life for the better, don’t miss out on the opportunity to enroll in IM Academy.
IM Academy does not offer access to online platforms for investment or online trading. International Markets Live Inc. is not liable for any loss or damage, including, without limitation, any loss of profit. IM Academy, its independent business owners, and educators do not provide personalized recommendations or advice on investment strategy, nor do they provide any regulated financial services, act as a registered investment advisor or broker-dealer.
