The importance of change in business

The hardest job any chief executive can take on is to try to reinvigorate a giant corporation.

Too often bosses think they have all the answers and make big changes without listening to anyone else, which rarely turns out well.

CEO coach Steve Tappin asks chief executives what's the best way to instigate change.

Richard Umbers, head of Australian department store chain Myer, says that change has to be "a very deliberate process".