Since COVID, businesses have experienced unprecedented changes and upheaval, but through all of these changes, companies can learn to embrace crises and grow.
- The pandemic forced businesses to change and adapt quickly, and the best companies used the disruptions as an opportunity to change for the better.
- In their book, The Transformation Myth: Leading Your Organization Through Uncertain Times, authors Gerald C. Kane, Rich Nanda, Anh Nguyen Phillips, and Jonathan R. Copuslky examine how various businesses responded to disruption.
- Companies that just try to survive the crisis do not thrive in the same way as companies that embrace change and come out of it stronger.
Why it’s important
Business disruptions brought on by the pandemic seem to be never-ending. First, companies adapted to the supposedly temporary changes, only later to learn that state-wide shutdowns would last months, not weeks, and changes like remote work would become permanent.
Some companies were content merely to endure the crisis, but those that saw change as an opportunity emerged from the lockdowns and other changes stronger. If they continue with those same business practices, they will exit every market disruption with more influence and success than before.
In The Transformation Myth, the authors share their expertise in business and technology strategy to show that a transformation is an ongoing event in a business—not a one-time thing. The researchers look at various companies that led their businesses through COVID-19 and offer tools to understand how leaders today can navigate the next disruption.
The authors share with readers certain traits, principles, and organizational building blocks that will set businesses up for success no matter the crisis they face.
The Transformation Myth was published by The MIT Press on June 6, 2023.