A FEW months back, a popular social media platform made the dramatic move of replacing the logo on the side of its global headquarters with a new, more noticeable one that sat atop its historic Art Deco building. The move was just one in a series of high-profile changes to the brand that was ushered in by new ownership. To be kind, it was not a development that was met with much enthusiasm, violations of building permits aside.
Enterprises that endeavor to make such bold changes do so with the understanding that there is always a significant level of risk involved. Besides the financial investment entailed, bold moves call for careful management of stakeholder relations considering that business leaders will take the organization in a whole new direction. Rather than one giant leap overnight, successful bold moves are the result of decisions, actions and initiatives taken methodically over a stretch of time.
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