The document discusses how companies are managing change during an economic recession. It finds that 60% of firms are continuing or accelerating existing change programs instead of blaming falling profits solely on external factors. Successful change requires a clearly defined plan with achievable milestones and objectives as well as commitment from senior managers to win over employees' hearts and minds. Change initiatives often fail due to lack of urgency, unclear goals and objectives, lack of management support, and employee resistance to change.