Everyone’s talking about business transformation, but here’s the reality: only 12% of change efforts deliver lasting results. Why? Because most companies treat transformation as a one-off project, rather than an ongoing journey. Here’s how to make it succeed.
Make change continuous Forget the start-stop model. Companies that thrive are continually evolving. Dell, for example, grew tenfold by making continuous improvement part of their DNA. They didn’t wait for the next big crisis – they addressed issues as they came.
Integrate change into daily operations. Transformation shouldn’t be separate from daily business. Ford’s weekly reviews under CEO Alan Mulally ensured that every leader was on the same page, turning massive losses into profits. The lesson? Embed change in your routine
Manage energy, not just tasks. Virgin Australia’s post-bankruptcy success shows the importance of managing organisational energy. By prioritising initiatives that mattered most and celebrating wins, they kept their team motivated and avoided burnout.
Aim for aspirations, not just targets. Adobe didn’t just aim to meet industry standards; they set out to redefine them. Moving their products to the cloud in 2011, they didn’t follow benchmarks – they created new ones. The result? A market value jump from € 22 billion to over € 230 billion.
Empower midlevel leaders. Midlevel executives are the change-makers. Amgen’s transformation doubled their approved medicines because they empowered these leaders to drive initiatives. It’s simple: engage those who understand the day-to-day operations and can push meaningful changes
Secure adequate funding. Underfunding kills transformations. T-Mobile’s bold move to borrow € 6.44 billion redefined their market position and doubled their subscribers. Don’t just look to cut costs – invest in your future.
Standing still is not an option. Continuous transformation is the key to staying relevant and competitive.