Change and impermanency is the common denominator of all phenomena and processes in nature, which include human activities as well. Heraclitus, the 5^th Century BC Greek philosopher, has said that no man can step into the same river twice. This statement from Heraclitus means that the world constantly changes and that no two situations are exactly the same. Just as water flows in a river, one cannot touch the exact same water twice when one steps into a river. This view has been affirmed by Lord Buddha around the same period.

In fact, the challenge of change can be considered as the key driver in all the human endeavours across history and the main motivating factor of business strategies that have evolved through the four industrial revolutions spanning form the mid-18^th century to the present day of mass digitalisation. The four principles of change management at any level – be it personal, family, workplace, company or a country – are:

• Understand the change
• Plan the change
• Implement the change
• Communicate the change

Some of the significant contributors to the management of change which resulted in the emergence of new approaches and working models that became popular during the past 50 years can be enumerated as:

• Lewin’s Change Management Model
• McKinsey 7S Model.
• Kotler’s Change Management Theory
• Nudge Theory
• ADKAR Theory
• Bridge’s Transition Model
• Kubler-Ross Five Stage Model

There are many schools of thought around managing organisational change, but there's one thing that's clear. Change managers need to structure their organisational changes and need to avoid 'ad hoc' change management. They need to look at organisational change from a programmatic perspective, leverage subject matter experts around the impacts of change and look at the ‘change beyond the change’. 

Corporate change has always been associated with leadership, and Jack Welch, the master of transformational leadership, has once quoted that “good business leaders create a vision, articulate the vision, passionately own the vision and relentlessly drive it to completion.”

Notwithstanding the tremendous utility value of these approaches, I have witnessed the beginning, growth, decline and final exit of some great business empires in Sri Lanka, which could not survive up to the third generation. Similarly, there are exemplary business organisations, the roots of which can be traced back in history to a single person who started with a few rupees and later developed in to corporate giants that are thriving through the third generation. It is therefore apparent that there are no hard and fast norms or standard ground rules, but an emerging factor is the importance of the people at all levels, despite the benefits of automation and digitalisation. Success and failure episodes are abundant throughout the world and corporate graveyards are cluttered with casualties.

Change and business strategy are always closely interlinked without clear boundaries. The ‘Art of War’ – which is attributed to the ancient Chinese military strategist Sun Tzu (around 5^th century BC) – remains the most influential strategy text in East Asian warfare and has influenced both Eastern and Western military thinking, business tactics, legal strategy, lifestyles and beyond.

The Covid-19 outbreak, which started around two years ago and developed in to a devastating pandemic, has brought about years of change in the way companies in all sectors and regions do business. The entire world scenario which we currently witness is reminiscent of the opening paragraph of ‘A Tale of Two Cities’, an 1859 historical novel by Charles Dickens.

“It was the best of times, it was the worst of times, it was the age of wisdom, it was the age of foolishness, it was the epoch of belief, it was the epoch of incredulity, it was the season of Light, it was the season of Darkness, it was the spring of hope, it was the winter of despair, we had everything before us, we had nothing before us, we were all going direct to Heaven, we were all going direct the other way – in short, the period was so far like the present period, that some of its noisiest authorities insisted on its being received, for good or for evil, in the superlative degree of comparison only.”
 

The Coronavirus has rapidly made ‘business as usual’ a phrase from the distant past. There is no ‘usual’ in this uncertain time. But organisations that outmanoeuvre uncertainty create a resilience they can count on, irrespective of the changes that come

. We’ve all changed the way we operate during the Covid-19 crisis. Some changes were forced on us, while others represent the height of innovation in a crisis. There’s been a reset of the workforce and work itself, a reset of the employer/employee relationship and a reset of the business ecosystem. For most of them, the business impact of the pandemic has been negative; for some, positive. 

The pandemic may have wiped our strategy slate clean (or at least it feels that way), but we have also garnered invaluable experience. Now it’s time to bring together our executive team and use those lessons to reconfigure the business and operating models for a new reality. It appears that in addition to the conventional 3Rs (reduce, reuse and recycle), with respect to resource consumption and sustainability, a set of new 3Rs, namely respond, recover and renew, has emerged during the Covid-19 crisis.

As we shift from response to recovery, the key for senior leaders is to make strategic decisions that will lead them to a renewed future state, however paralysing the uncertain outlook may seem. We can borrow a leaf from the strategy and tactics of the Covid-19 virus itself in learning how to adapt for survival by adopting new paradigms, namely producing more virulent strains such as the Delta variety.

In the absence of a 100 percent effective vaccine or cure for Covid-19, any rebound in business activity could easily be followed by another round of response, recover, renew; so the imperative is to absorb lessons learned quickly and build sustainable changes into business and operating models.

But first, we need to determine exactly where and how the crisis has stretched and broken our existing models, and where the risks and opportunities lie as a result. When talking about risks and opportunities, I cannot help going back to the basics of ISO 9001:2015 Quality Management System (QMS) requirements which expect a company to evaluate the external and internal issues (Clause 4.1), expectations of interested parties (4.2), determining the risks and opportunities (6.1) and planning for change (6.2). In some of the companies that I happen to audit, the priority given to these is at a minimum or no priority given at all apart from stagnant records which do not show any objective evidence of monitoring and review.

However, one important factor we have to consider is that everyone – irrespective of whether it is an individual, family unit, organisation or a country – is on various stages of their unique learning curves, and the strategic horizons have drastically become shorter. Business and strategy planning is no longer an elite task shrouded with mystery and confined to the corporate managers only in their air conditioned rooms but a task to be accomplished in consultation with those who are finally going to implement the strategies and plans. While the Japanese Genba (the actual place) approach is more than 50 years old, it is mostly confined to operational levels, which is rather unfortunate. This crisis has created an opportunity to reset some of our goals and ambitions; it’s time to ask: “As we recover from this crisis, do we want to be different, and if so, how?”

One can see that many companies are in the recovery mode at the moment and trying to do damage control based on profit motive, which is understandable. The entire social, cultural and ethical models and paradigms have changed drastically, and the entrepreneurs need to realise that they are no longer operating in the pre-Covid era. Drastic changes have occurred in the entire supply and value chains with changing customer preferences.

The following quote attributed to many, including Eleanor Roosevelt, a former First Lady of United States, is appropriate to be cited here:

“There are people who make things happen, there are people who watch things happen, and there are people who wonder what happened.” 

Change and impermanency is a fact of life, more so today, and if we do not change, change will change us. After all, it was the mathematical genius of the 20^th Century, Albert Einstein, who once observed that:

“Insanity is doing the same thing over and over again and expecting different results.”

We can’t keep doing the same thing every day and expect different results. In other words, we can’t keep doing the same workout routine and expect to look differently. In order for our life to change, we must change – to the degree that we change our actions and our thinking, to the degree that our life will change.

The author a Management Counselor from Sri Lanka

Comments (0)

ADD COMMENT

Link Copied!

JK Tyre & Industries has increased product prices and signalled further hikes as it seeks to offset rising raw material costs, even as demand remains resilient across segments.

The company said raw material prices rose about 20 percent quarter on quarter, with a further 8–10 percent increase expected in the following quarter. The increase has put pressure on margins, given that about 70 percent of tyre industry inputs are petro-based.

In response, JK Tyre raised product prices by 10–11 percent until August and plans an additional increase of 5–6 percent in the coming months to mitigate cost pressures.

The pricing action comes despite steady demand conditions. The company reported a 25 percent year-on-year increase in domestic volumes in the June quarter, supported by growth across both replacement and original equipment manufacturer segments.

Management indicated that demand remained stable across commercial vehicles, passenger vehicles and two- and three-wheelers, with no significant production cuts from OEM customers.

The company also said it continues to focus on premiumisation, with higher-margin products such as 16-inch and above passenger car tyres increasing their share in the sales mix.

Comments (0)

ADD COMMENT

Link Copied!

Yokohama Rubber reported record earnings for the first half of fiscal 2026, with profits more than doubling and margins reaching a historic high.

The Japanese tyre maker said sales revenue rose 10.4 percent year on year to ¥639.4 billion in the six months to June, while business profit increased 54.3 percent to ¥95.8 billion. Operating profit doubled to ¥109.7 billion, and profit attributable to owners of the parent rose 104.2 percent to ¥72.6 billion.

Business profit margin improved to 15.0 percent, compared with 10.7 percent a year earlier, marking a record level for the company.

Yokohama Rubber said the results reflected strong performance across its businesses, delivering record first-half highs in all key earnings categories.

Segment data showed that tyre sales revenue rose 10.8 percent year on year to ¥580.4 billion, accounting for 90.8 percent of total revenue, while the MB (Multiple Businesses) segment recorded revenue of ¥54.9, up 6.9 percent and contributing 8.6 percent of the total. Other businesses declined 3.6 percent to ¥4.2 billion.

Business profit growth was led by the tyre segment, where profit increased 57.3 percent to ¥89 billion. The MB segment posted profit of ¥6.3 billion, up 22.5 percent, while other businesses reported profit of ¥0.5 billion.

The company said tyre segment growth was supported by higher sales of high-value-added and high-inch tyres, as well as increased volumes in the off-highway tyre business. Replacement tyre demand strengthened across regions, with strong sales in Europe and continued expansion in North America.

Operating profit was also supported by a ¥35.3 billion gain on the sale of assets at a former off-highway tyre plant in Israel, partly offset by a one-off expense of ¥15.0 billion related to the closure of a US tyre plant in Salem, Virginia.

The company also revised upwards its full-year forecast for fiscal 2026. It now expects sales revenue of ¥1,320 billion, business profit of ¥192.5 billion, operating profit of ¥199.5 billion and profit attributable to owners of the parent of ¥117 billion.

Comments (0)

ADD COMMENT

Link Copied!

JK Tyre & Industries reported broadly steady revenue for the first quarter of the financial year, with profitability constrained by higher input costs.

The company posted consolidated revenue of INR 39.56 billion for the quarter ended 30^th June, 2026, while earnings before interest, tax, depreciation and amortisation (EBITDA) stood at INR 2.68 billion, implying a margin of 6.8 percent. Profit before tax was INR 0.54 billion and profit after tax came in at INR 0.43 billion.

According to the company’s financial statement, revenue from operations was INR 39.46 billion, compared with INR 38.69 billion in the corresponding period a year earlier.

Operating profit declined to INR 2.68 billion from INR 4.24 billionn a year earlier, reflecting pressure on margins.

Dr Raghupati Singhania, Chairman and Managing Director, said: “JK Tyre continued its steady performance in Q1FY27 with a consolidated turnover of INR 3.56 billion, supported by strong demand momentum across segments. The performance is driven by sharp focus on customer centricity, product excellence and disciplined execution across markets. During the quarter domestic volumes grew by 25 percent on year-on-year basis, across both replacement (12%) and OE markets (42%), with increasing contribution from higher-value added products. The continuing west Asis crisis led to a sharp increase in raw material prices which impacted our gross and operating margins. As is known approximately 70 percent of the tyre industry raw materials are petro based, hence, it is highly vulnerable to oil price movement”.

He added: “With a sharper focus on operating leverage, cost reductions, and increasing share of premium products, JK Tyre remains confident to improve performance in FY27 with double-digit revenue growth, aiming to create enduring value for all stakeholders with an increased profitability through strategic expansions”.

Comments (0)

ADD COMMENT

Link Copied!

Dunlop Motorcycle Europe has expanded its original equipment partnership with Beta Motorcycles, securing a deal to supply advanced Geomax tyres across the Italian brand’s trial and motocross lineups. The enhanced collaboration introduces new standard fitments for both competition disciplines.

For trial applications, the Geomax TL01 replaces the previous D803GP on Beta’s Evo and Sincro models. Engineered with a high-adhesion compound and a specialised block layout for angled terrain, the ultra-sticky tyre has already proven popular among Beta racers and now becomes factory-standard equipment.

In the motocross sector, Beta has adopted the Geomax MX34 for its entire RX range, covering both two-stroke and four-stroke 250 cc and 350 cc variants, as well as the 450 cc model. Designed primarily for intermediate ground, the versatile MX34 performs effectively across diverse surfaces, from soft mud to compacted dirt.

Donato Miglio, Race Team Manager Trial, Beta Motorcycles, said, "Geomax TL01 represents a significant step forward in performance, which is why we decided to adopt it as our original equipment trial tyre. Many of our riders already use it in competition, where it has proven its exceptional grip, stability and handling.”

Fabrizio Dini, Race Team Manager Motocross and Enduro, Beta Motorcycles, said, “In motocross, the latest generation of Dunlop MX tyres features significant performance improvements. Geomax MX34 provides excellent grip, particularly on dry surfaces, giving riders a reassuring feeling of safety and constant control. Both tyres suit our bikes perfectly.”

Miguel Morais, Original Equipment Manager, Dunlop Motorcycle Europe, said, “We are proud to deepen our partnership with Beta through the introduction of Geomax TL01 and MX34 across its latest trial and motocross models. Fitments like these are a strong endorsement of the capabilities of tyres throughout our range, and we’re excited that more and more riders will experience increased confidence and performance that helps them get the most out of their Beta motorcycles from their first ride.”

Comments (0)

ADD COMMENT

Link Copied!