In today’s fast running corporate world, transformation has become a quintessential part of the business. It is said that the more the opportunity, the greater is the chance to succeed. But, despite having a huge ground, corporate transformation has a very poor rate of success despite tons of involvement of experts and consultants. Every three out of four efforts fail to produce the desired results. What goes wrong in the process? Well, the answer is very simple; the defects in the system controls and the flawed implementation are the factors that sink the boat in the middle of the sea.
Teams in command of bringing out the change processes should focus on the execution, but before working on the so called plan of ‘how to change’, they should focus on ‘what to change’. A poorly chosen field of transformation will definitely create an impact on the performance. The age old problems will worsen instead of being cured. Prioritizing changes is a very important factor that can serve as a vital support to bring out the changes efficiently. A proper understanding and interpretation of the situation will lead the team to three key factors. They are –
- Catalyst required for the transformation,
- Underlying probe the organization is trying to commute to,
- Qualities and capabilities needed to be introduced in the leadership to be able to see through this entire quest.
Let’s have a look at these factors in detail:
- Role of Catalyst (towards the desired goal)
Every transformation is implemented to achieve a desired goal, mainly to increase productivity by streamlining the business through outsourcing, building efficiency and gathering investments for growth. But, usually these efforts fall straight on the ground due to inefficiency in carrying out the processes and lack in focus. This brings to the larger picture, i.e. what opportunities should be captured to bring the transformation change in action.
- The Hunt for the direction
A particular direction for the change to begin with must be chosen to ensure a solid path in the initial stages. Basically, in the global market, the changes are introduced as a branched example or prototype of the below five factors:
- Global Presence
- Customer Focus
It is a very common habit – or you can say an inclination of the executives to try to agree to handle various quests at the same time, but it is a very diluted approach towards the goal. Hence, it is better to focus on one step at one time and slowly inch towards the ultimate goal that will keep you in the race of this evolving corporate world.
- What Can Leaders do?
Every journey requires a support and in this transformational journey, leaders are the pillars that keep the entire thing stable, intact with the planned procedures and directions. Any defect or lack in the leadership will directly affect the conquest. A qualified leadership will extend the distance the engine is going to cover with the limited amount of fuel. Hence, to avoid degradation in value generation, building a talented and focused leadership is the key. Apart from all these, the team leading this entire process should also keep an eye and avoid the deceiving factors that hover around. To give you an insight, we have listed some of them below:
- Ignoring the hunt for the gold.
- Trying to divide your focus with some other tasks
- Leaving the task midway thinking some other is more attractive and fruitful.
- How to initiate the journey that will lead to your ambitions?
- Get to know the reality –
Competitive market keeps changing the environment thus disturbing the equilibrium in which the flatplan was prepared. Hence, a detailed study and research about the market over the factors such as cost, logistics, polarization, demands etc. should be done thoroughly before setting out for the sail.
- Debating Priorities –
I’ve said it again and again in this article that do not divide your focus while pursuing your goal. A single minded approach to your objectives will always fruit you more benefits than doing multiple things ever will. Instead of trying many things, map out different tasks of one particular project and focus on the sub- parts. This way, you will be able to make better and efficient use of resources.
- Communicating Choices –
‘Choices create difference’. A particular path to lead the action is very important to be decided by the leader and should be communicated clearly to the sub-divisions. It is better to agree on a particular decision rather than carving out a hole in the ship with different opinions during this transformational change.
With growing curiosity about how to make plans and strategies to create a suitable environment for the transformational changes to flourish, I believe this article might have answered the boggling questions that have been crossing your mind.
Have a Transforming Tuesday!
Written & Compiled By Faber Kishlay Krishna & Faber Mayuri Pandya