Change does not necessarily boost profits

Change does not necessarily boost profits

Numerous projects do nothing for the bottom line, according to survey

Frequent internal change initiatives rarely trigger improved profits, according to research.

More than four in five (83 per cent) of respondents say there is little direct financial benefit, but in excess of half (56 per cent) say the failure is not because of ideas themselves but their execution, says the survey from training specialist Pentacle.

Poor communication is a major cause of failure, say 73 per cent. And senior managers underestimate the negative impact of repeated initiatives, say 77 per cent.

Commitment at top levels is more important than getting staff involved and 66 per cent of UK business people to blame senior managers for strategic project failure.

Pentacle director Professor Eddie Obeng said: "Senior management clearly take responsibility for the endeavours they attempt to implement and there is a widespread recognition that they are often to blame when projects go awry."