Troubled companies require transformation. Struggling organizations must discover the secret ingredients that will kick-start greatness. The world’s most successful and innovative companies turn this into a continuous improvement program. Market leaders that commit to continuous improvement can maintain their edge or quickly find they becoming market followers. Microsoft, a former perennial leader, requires a complete transformation to counteract new challengers like Apple, Google, and Amazon while at the same time these same competitors continue to look for opportunities to refashion themselves!
Many major change efforts do not succeed. Our experience is that the root causes of failure are rarely unique. There are some common pitfalls that were simply not attended to sufficiently:
- Insufficient knowledge and understanding of facts and key constraints
- Lack of engagement and alignment of the senior team
- Managing the effort like a set of initiatives versus an integrated, interactive program
- Forgetting to slow down, in order to speed up
- Forgetting the place customers hold in your organizations
- Targeting too much of the ROI to occur in later benefit years
- Lack of transparency and clear ownership of milestones / targets
- Organizational issues such as change management, culture, and capabilities not addressed head on
- Declaring victory too soon – failing to follow through and track promised changes
Leading a transformation requires specific and acute focus on avoiding these pitfalls. It also requires rising above the management level to inspire the organization in the case for change and to lead them through it. Armed with the knowledge of what is required, and the pitfalls, a committed leadership team can and will succeed.
Experience shows that ever company becomes unique, with a varying mix of Culture – People – Systems. Once the organization becomes large enough, the challenge may even be multiple variations within an entire organization. Each variation could have a different percentage in each category. How is an organization with so many variables transformed – with planning, executive commitment and execution.
Innovium Group, LTD provides experienced management consultants that can lead executive discussions, develop the roadmap to a future, and evaluate current initiatives.