And when roadblocks or setbacks do arise, companies and their people will be better equipped to overcome them.Įqually important, leaders need to frame the impact of the transformation not just in dollar terms but also as something central to the company’s purpose-the value that sustained success will deliver to all its stakeholders. Once underway, their transformation can advance with minimal bumps along the route.
(See the exhibit.) By adopting these measures, companies will be positioned to swiftly create momentum. We derived four precepts for launching your transformation on the best path to success: declare the transformation a priority rally the top leaders organize and mobilize and broadcast and engage. To filter out subjectivity as much possible, we set out to identify the factors that correlate with actual success. We asked respondents about their level of preparation at specific junctures of success or failure. These changes ran the gamut from business model shifts and digitalization to restructurings. So how do you ensure the company is on track to reach its goal? What can you do to be fully prepared and able to persevere? In this article, we present four precepts that companies can follow in those first 100 days to lay the strongest possible foundation for their transformation’s success.ĭrawing from BCG’s annual global survey of 1,000 companies, we examined 3,000 transformations, correlating specific actions with the transformation’s outcome. At the starting line, you must be fully prepared for what lies ahead, both physically and mentally-including the rough patches you will invariably encounter. Mindset and motivation matter as much as strength and stamina.
A transformation is more of a marathon than a sprint: it requires time and pacing. And while prompt, decisive action is vital, no organization succeeds by attempting to go as fast as possible the whole way. Any effort to do so will inevitably fall short and may put the entire undertaking at risk. In the critical first 100 days, there are many considerations to weigh, decisions to make, and actions to take-and their timing and sequence can be as instrumental to success as the moves themselves.Ĭlearly, it’s impossible to focus on everything at once. What are the most important issues to focus on when you embark on a business transformation? Ask ten executives, and you’ll get ten different answers. Technology, Media, and Telecommunications.
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