P7 Read the words or phrases and their explanations. Then complete the following paragraph with the words or phrases. Change the form when necessary. Companies that refuse to adapt their _____________ when there is a(n) _____ or dramatic change in ___________ can stagnate or fail in the highly competitive fast-paced business environment of today. Effective leaders who are willing to _______ change are referred to as change agents or ______________. Some changes involve making small and gradual improvements to business but sometimes a complete _______ or turnaround, which involves restructuring and redesigning the organization as well as changing the cultural _______, is needed to keep a business afloat. One of the biggest challenges facing managers today is how to ________ change successfully and how to keep ________ to a minimum.