‘Transformation’ has become the buzzword of today. It appears to mean anything from a simple restructure to a full-scale, corporate turnaround. Whatever it is, it is ubiquitous in that it affects every component of your business. It can alter your operating model, the way your people engage with customers and each other, and it can change the strategic trajectory of the business.
Some of the key drivers behind the requirement to transform can include the performance gap between the top and bottom performers, digital disruption, changing customer needs or higher expectations of citizens for Government groups. Most of all, it is the uncertainty around global markets – the ‘new normal’.
The key challenge for business and Government is to move away from the traditional approaches to strategy, which include analysing trends, linear processes and a hierarchical approval process. These approaches, put simply, are not calibrated to the high degree of uncertainty that companies and the global market face.
Companies pay millions of dollars for strategy firms to tell them what to do, only to lack the execution skills necessary to alter the organisational route to achieve significant and ambitious results.
What reasons have driven your company to transform?
For more information on transformations and how we can help you, contact PM-Partners group on 1300 70 13 14.