Six Basic Principles for a Changing World

Book chapter, 2016

This chapter explains six core management principles that enable companies to deal with rapid and constant change. Various researchers have identified these principles, finding them to be effective in many kinds of firms. They include both organizational features and precepts for managing. The principles are: Dynamic Capabilities. A Continually Changing Organization. An Ambidextrous Organization (an “ambidextrous” company is able to optimize current operations while innovating). A People-Centric Approach. An Open, Networking Organization. And a Systems Approach. The chapter illustrates the principles with examples from companies that include IBM and a food-processing firm.