The Dynamics of Change Management in Start-ups

Abstract

Most organisations grapple with change management. Particularly large organisations are vulnerable to fail or flop if they do not gear themselves up to change. In the interest of the long-term survival of growing organisations, change management becomes a separate, elaborate and essential exercise that needs to be undertaken at the right time. On the other hand, as far as start-ups are concerned, change is part of their basic DNA itself and change management is a 24x7 phenomenon for 365 days in a year. It is so crucial that like the baby in the incubator that needs extreme care and monitoring, if one is not responsive to the changes in the environment, the entrepreneurial venture would be gone for good. So where does the dynamics of change begin for a start-up? It is each and every element that is subject to change – the mission, the vision, the product or service offering, the team, the strategy, the structure, the process, the business model, the technology, the price, the promotion, and the distribution channel. This paper therefore examines the dynamics of change management in startups and attempts to come up with practical suggestions and recommendations based on not just theory but also some practical data.