Increasing rate of globalization, technological advancement, knowledge among workforce, social & demographic trends and deregulation are prime forces influencing the dynamic nature of business environment (Rune, 2005). In order to be profitable and ultimately survive, contemporary organizations needs to understand these dynamic environmental nature they exist in and strive to react positively to inherent changes irrespective of the degrees of occurrence of these changes (Al-Haddad & Kotnour, 2015). Modern Businesses pay vivid attention to change and considers the ability to both identify things necessary to change in the future and to effectively manage the identified changes successfully, as an intricate attribute of today’s managers (Eridda and Lotfi, 2021).
