Rapid Transformation is based on a study of a sample of over 500 companies who underwent major changes in the past two decades. We looked at the detailed financial performance of the companies for a quantitative analysis. Then, we looked at detailed qualitative data and case studies to extract best-in-class practices.
Our results indicate that successful transformations employed parallel effort that reached across different areas of the organization simultaneously in response to truly global, hyper-competitive markets where transitions are a lot faster and the cycle of innovation is getting increasingly shorter. The key characteristics of successful transformations were:
- All-Encompassing: In their transformation efforts, successful companies first and foremost looked at and analyzed all aspects of the company, examining all the functions and processes and leaving no stones unturned.
- Fast: By using all eight cylinders at a time, companies reduced down time and hand-off periods. Successful companies engaged in all of their efforts in parallel, meaning they were looking at everything at once.
- Integrative: Successful transformation efforts also integrated the various functions of the company to take advantage of the cross-functional synergies. Rapid response teams plays at the heart of the rapid transformation.
- Had Full, Passionate Commitment and Buy-In: While complete buy-in is important at all levels of the organization, it is especially critical from the top. We will ensure this before the transformation launches.
Pre-Transformation
Convince the organization to change by creating a sense of urgency. Develop the platform for successful transformation and put together Cross-Functional Rapid Response Teams.
Phase 1:
Identify and analyze organization’s problems, focus on roots, not symptoms
Phase 2:
Develop high-level plans to address identified roots, focus on Big Ideas
Phase 3:
Translate high-level plans into concrete, actionable items
Post-Transformation
Execute the plan, must maintain momentum