This document discusses the nature of organizational change. It describes different types of change, such as incremental vs. radical change, and continuous vs. episodic change. It also discusses drivers of change including industry disruptions, product life cycles, and organizational dynamics. Successfully implementing change requires reforming an organization's mission, leadership, processes, and power structures to address needs, overcome resistance, and manage risks and uncertainty. The document also outlines stages of organizational change including entrepreneurial, collective, formalization, and elaboration stages.