Transformations are comprehensive changes in strategy, operating model,
Transformations are comprehensive changes in strategy, operating model, organization, people, and processes. They aim to achieve a dramatic improvement in performance and alter a company’s future trajectory.
Across industries and regions, the need for business transformation is enormous and growing. In today’s unpredictable business environment, disruption arises from all angles. This reality leaves public companies with a 1-in-3 chance of ceasing to exist in their current form over the next 5 years, up from a 1-in-20 chance 50 years ago. In addition, CEOs and senior leaders are under increasing pressure as activist investors and boards push them to do more—faster.
Transformation is a tool that all companies can use to improve their value to shareholders, whether they are trying to catch up quickly or retooling to stay ahead.
Transformations represent a fundamental and risk-laden reboot of a company. Successful transformation requires rapid, short-term improvements to the bottom line to establish traction and fund the journey. At the same time, the company must also make more profound changes to its business model, organization, and culture to achieve sustainable long-term success.
All of these aspects must happen in parallel. Therefore, it is not surprising that many transformations fail: some 75% fall short of their targets in terms of value generated, timing, or both.
But there are ways to ….
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