The Business Impact of Transformation Initiatives
The research tells us that 90% of change/transformation initiatives fail. Failure can be very simply measured relative to the following three criteria. Determine if the initiative was:
1) On Time
2) On Budget
3) With Quality
So while transformation initiatives may get done, unless they meet these three criteria, we must question their success. A bigger organizational question must be considered. What is the strategic business impact of transformation failure or delay on organizational business sustainability?
We are now living in an era of transformative change. Change is coming at us from multiple directions and sources. Change can no longer be managed by a simple process. The nature of this change permeates organizations at every level. Change truly touches and involves every employee. As leaders, you must now embrace a more complex, holistic, multifunctional approach to transformative change. One singular function will not achieve the desired and required results. Leaders must understand all the functional approaches involved in any transformation change process. Incorporating all possible functions will accelerate and deliver this change. Ignoring the critical importance of the multifunctional approach will stall change initiatives.
In the future, this change will not just modify the way we do business and the way we work, it will completely transform the very nature of the work we do and the organizations in which we operate. There is no escape. We are moving very quickly into this new world, where the old paradigms of work and organization will shift into new, unknown, and untried models. These can be fascinating but very daunting and confusing times when everything we know will be questioned or even totally disappear. And this change is just beginning.
Are you interested in discovering how to execute a holistic business transformation journey for your organization? We invite you to download our complimentary ebook that covers a variety of leadership and change management topics with 19 actionable takeaways.