Strategic change management is indispensable for every organization that has to adjust its strategy to changing industry contexts. Patricia Klarner adopts a new approach to analyze strategic changes and introduces the rhythm of change as a concept that measures the timing of changes. Her research model examines the relationship between the rhythm of change and long-term firm performance as well as the impact of knowledge-related and financial moderators on this relationship. It is empirically tested in the European insurance industry for the period from 1995 to 2004. The author provides a state-of-the-art view of the optimal timing of strategic changes in organizations and of the factors underlying successful change efforts.

Autorentext
Dr. Patricia Klarner completed her doctoral thesis under the supervision of Prof. Dr. Gilbert Probst at the Chair of Organization and Management at the University of Geneva in Switzerland. She is now an Assistant Professor of Strategic Management at the Ludwig-Maximilians-Universität in Munich.

Zusammenfassung
To survive and grow, organizations constantly have to adapt to their environment. The prac- cal as well as the empirical world has for decades mentioned the increasingly dynamic and complex industry environments. Nevertheless, research has largely concentrated on measuring the short-term outcomes of single incremental and radical changes as well as the factors and processes underlying change. Today's organizations are increasingly confronted with making repeated change decisions in order to adapt to changing industry environments. In the midst of a global financial and e- nomic crisis, the analysis of frequent and repeated change in organizations is more important than ever. For organizations operating in quickly changing industries, timing changes c- rectly is crucial to ensure competitiveness and long-term success. Undoubtedly, the right t- ing of change is also of great interest to managers as it permits them to capture and use w- dows of opportunities intelligently and intervene at the right moment when urgency is p- ceived, when resources can be used best, and when effectiveness is optimal. Research on the timing of changes and the resulting rhythm of changes in firms is still rare. Time and timing were not sufficiently researched for many reasons, whether due to compl- ity, manifold differences in industries, the need for long-term studies, difficulties with def- ing patterns of variability in the intensity and frequency of organizational changes, the - pendencies of environmental evolutionary patterns, the lack of models and insights into the pace of change over time as well as performance outcomes.

Inhalt
Literature Review.- The Rhythm of Strategic Change: Towards a Comprehensive Research Model.- Research Methodology.- Research Findings.- Conclusion.