Change is an inevitable part of any organization’s lifecycle. Companies must constantly adapt to changes in their industry, technology, and customer needs to stay relevant and competitive. This is the case for EzChange Pte Ltd, a medium-sized technology company that specializes in developing software solutions for small and medium-sized businesses. They have been in business for over 20 years and have a loyal customer base. However, in recent years, the company has been struggling to keep up with the rapidly changing technological landscape.
The management team at EzChange Pte Ltd realized that they needed to make some changes to stay competitive. The company’s software solutions were built on outdated technology, making them slow and unreliable. Customers were starting to switch to competitors with more modern and user-friendly solutions. With a reputation of being overly prudent, conservative, and slow to innovate, this placed EzChange Pte Ltd at a disadvantage in an industry that is constantly evolving.
The company’s customer service was also lacking. With higher expectations, customers were frustrated with long wait times and unresponsive support staff. Exchange Pte Ltd has also recently experienced a high rate of employee turnover, especially after the COVID pandemic, which led to knowledge and skills gaps in the workforce. This made it difficult to complete projects on time and to the desired quality.
The company needed some transformation and to do something different. CEO Ken Low has his mind on a leader unencumbered by tradition and someone different lead the transformation. Hiring a talented disruptor is many executives’ solution to the problem of keeping up with, and staying ahead of, change.
On her first day as the managing director of EzChange Pte Ltd, Melanie Tan received a text message from her new boss, Ken Low: “Do whatever it takes to turn this business around.” Ken had not considered any other candidate for the position and was convinced that Melanie’s mix of experiences and the creative flair that went with it were just what was needed.
Only an outsider with relevant experiences and leadership aspirations could give the ailing business an infusion of ideas and energy, Ken believed. Given her lack of history in the company, Melanie would be less hindered by the loyalties and habits that had contributed to the performance slump. She would bring new ideas and be motivated to put them to work.
Melanie took her mandate to heart. She first restructured the management team and then the whole organization. She cut costs and tapped into a diverse cohort of talent who had been overlooked. With a re-energized team in place, she quickly realized that trimming operations would not be enough. She wanted to implement more changes. All she needed was the senior management team’s approval to roll it out. As soon as she started sharing her analysis and plan, she encountered resistance, some subtle and some more fierce.
Her plan seemed to disregard the company’s long-time business partners and norms of financial prudence. Her actions and plans challenged traditional strategy and culture. “You are good, but you are wrong,” or “That would never work here,” or the ever-frustrating “Not yet.” Both sides get frustrated, debates become matters of principle, and change grinds to a halt.
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