7 Steps to Business Transformation
The need for businesses to undergo fundamental transformations to their business models and way of doing business has been well established. We are sure you have read phrases to the effect of "around the world, the business environment is in a permanent state of disruption”, and the trope “to survive and to thrive" at least three times before you got your morning coffee to your lips today. While these statements may be true (and we are guilty of writing those phrases ourselves), the point has been made, the reasons for transformation are established.
Translating Strategy into Execution
Yet action without a reliable method to execute on it has been identified as a major stumbling block for many failed Business Transformation programs - with failure rates anywhere from 70-84% depending on where you get your numbers. Even with the most groundbreaking, innovative, and market-disrupting strategy, without a clear plan to execute on that strategy and address the key cultural issues of transformation organizations will not accrue the benefits they set out to.
To bridge the gap between strategy and execution, we have created a guide to provide actionable and pragmatic steps business leaders can use to navigate their organization’s Business Transformation. The 7 Steps - Business Transformation are designed as a guide for business leaders to follow, focusing on successful execution of their vision - the translation of strategy into action.
With KPMG’s Transformation Study 2015 stating the top three reasons for transformation failure are: lack of alignment between transformation objectives and company strategic objectives; failure to adequately plan and execute on strategy; and failure to set performance and success metrics, these 7 Steps are valuable guidance for learning from others; mistakes, affecting the greatest change, and accruing the most business benefit from transformation.
We hope you appreciate the clear, brief, and practical approach.
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