On one hand it is true that the time today demands each and every business to bring in necessary changes in their organization but on other hand the fact cannot be ignored that all the organizations are not able to make the required changes. The companies which fail to bring in the necessary changes have to face consequences for the same. The companies which fail to change are the one which are not able to survive in the market. The customers always look out for worth of their money; they would always prefer to go for the services and products where they would get best value for their money (Oreg, 2006). The companies which understand this make the required changes to live up to the expectations of the customers. The companies which fail to do so lose their customers too.
As mentioned earlier, technology is one of the main reasons for the changes in any business hence the companies need to enhance their technology to meet up the demands of the customers. The technological development also helps the employees to work more efficiently, hence if the company fails to make the required technological changes it will lag behind in the market and will lose its position. This will also make the employees insecure due to which they might quit the company and look out for better opportunities.