There are a many reasons an organization needs to 'transform', and not just 'improve'. More often than not, it is in response to change - market, economic, political, social, reputational etc.
Yet, years of research on transformations has shown that the success rate for these efforts is consistently low: less than 30 percent succeed. (Source - McKinsey)
According to McKinsey's latest research, three, very interesting, core actions of a transformation are especially predictive of value capture:
- increasing the number of actions a company actually takes throughout a transformation’s life cycle
- accelerating the timeline for capturing value
- embedding transformation disciplines into business-as-usual structures, processes, and systems
Yet, for business leaders to achieve the above takes many years of solid business experience, high degrees of customer focus and the gravitas to challenge the status quo.
Having run successful Service transformation projects and programs over 30 years, we understand how all things needs to come together simultaneously, if success is to be realized.