Navigating business change. Saw this little critter crossing the sand trying to get to the sea on my morning walk today.

Finding the right way forward

– navigating business change as a CEO or board member

During his recent holiday, our colleague David Goosey captured this remarkable photo and shared these words: ‘Saw this little critter trying to get to the sea on my morning walk today. Feels like there are lots of learnings to be taken from it.’ We think David’s right and here’s some advice if you’re a leader trying to find the right way forward.

Finding the right way forward: navigating business change as a CEO or Board member

In the ever-evolving landscape of business, CEOs and board members are often tasked with steering their organisations through turbulent waters. The challenge of making change happen while ensuring the company remains on a clear and strategic path can be daunting. Here, we explore the key concerns these leaders face and offer advice on how to find the right way forward.

Key concerns for CEOs and Board members

Unclear Vision or Strategy

    • Impact: Without a clear vision or strategy, the organisation may lack direction, leading to confusion and inefficiency.
    • Worry: Leaders may fear that their company is drifting aimlessly, unable to capitalise on opportunities or respond effectively to threats.

Resistance to Change

    • Impact: Employees and stakeholders may resist new initiatives, slowing down progress and creating friction within the organisation.
    • Worry: The fear of pushback can make leaders hesitant to implement necessary changes, potentially stalling growth and innovation.

Market Volatility

    • Impact: Rapid changes in the market can disrupt business plans and strategies, making it difficult to stay competitive.
    • Worry: Leaders may be concerned about the organisation’s ability to adapt quickly enough to survive and thrive in a volatile environment.

Resource Constraints

    • Impact: Limited financial, human, and technological resources can hinder the execution of strategic initiatives.
    • Worry: The challenge of doing more with less can lead to stress and difficult decision-making about where to allocate resources.

Stakeholder Expectations

    • Impact: Balancing the diverse and sometimes conflicting expectations of shareholders, employees, customers, and other stakeholders can be complex.
    • Worry: Leaders may worry about maintaining stakeholder trust and satisfaction while pursuing long-term goals.

Advice for finding the right way forward

Clarify the Vision and Strategy

    • Action: Engage in strategic planning sessions with key stakeholders to define a clear and compelling vision for the future. Ensure that the strategy aligns with this vision and is communicated effectively throughout the organisation.
    • Benefit: A well-defined vision and strategy provide a roadmap for decision-making and help align the efforts of the entire organisation.
    • Evidence: Research shows that companies with a clear vision and strategy are more likely to achieve their goals and outperform their competitors.

Foster a Culture of Change

    • Action: Promote a culture that embraces change by encouraging innovation, rewarding adaptability, and providing training and support for new initiatives.
    • Benefit: A culture that supports change can reduce resistance and increase the likelihood of successful implementation of new strategies.
    • Evidence: Studies indicate that organisations with a strong culture of change are more resilient and better able to navigate disruptions.

Stay Agile and Adaptive

    • Action: Implement agile methodologies and maintain flexibility in strategic planning to quickly respond to market changes. Regularly review and adjust plans based on new information and feedback.
    • Benefit: Agility allows the organisation to pivot when necessary, ensuring it remains competitive and resilient in a dynamic market.
    • Evidence: Agile organisations are shown to be more responsive to market changes and better positioned for long-term success.

Optimise Resource Allocation

    • Action: Conduct thorough assessments of resource needs and prioritise investments that align with strategic goals. Explore partnerships and collaborations to leverage external resources.
    • Benefit: Efficient resource allocation ensures that critical initiatives receive the support they need, maximising the impact of available resources.
    • Evidence: Effective resource management is linked to improved project outcomes and organisational performance.

Engage Stakeholders Effectively

    • Action: Maintain open lines of communication with all stakeholders, actively seeking their input and addressing their concerns. Demonstrate transparency and accountability in decision-making.
    • Benefit: Strong stakeholder relationships build trust and support, which are essential for the successful execution of strategic initiatives.
    • Evidence: Engaging stakeholders effectively leads to higher levels of trust and cooperation, facilitating smoother implementation of changes.

And our conclusion?

Navigating the complexities of business change requires clear vision, strategic planning, and effective leadership.

By addressing key concerns and implementing the right strategies, CEOs and board members can guide their organisations towards a successful and sustainable future.

Embracing change, staying agile, and engaging stakeholders are crucial steps in finding the right way forward.

Dr Caroline Gowing
Director & Change Management Lead

LinkedIn: www.linkedin.com/in/carolinegowinggreenslade

You may find the following resources helpful:

It’s Time to Take a Fresh Look at Your Company’s Values. Coleman, J.. Harvard Business Review. Mar 2022 HBR digital article https://hbsp.harvard.edu/product/H06XFC-PDF-ENG

Organizational Culture and Leadership. 2010. 4th ed. Schein, E.H.. Jossey-Bass. This book remains a highly regarded reference and a valuable resource for anyone involved in leadership or managing organisational change.

Three Keys To Successful Change

Essential Roles For Successful Organisational Change: Talkers, Thinkers And Doers

Winning Hearts and Minds: Strategies For Getting Buy-In For Change

And a final thought

At JA Consulting we help drive sustainable change; to work with you to take theory and put it into practice. With the right support and guidance, change can become a seamless and straightforward process that yields long-term results.

Want to make change happen for you? Our team is waiting and ready to help.

See what else we have to say

Our mission is to make your change management journey easier, smoother, quicker and more sustainable.

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