It's no secret that in the face of exponential change and volatility, that transformation (not simple change) is an imperative. Neither is it a secret that transformations are difficult and it's common to read that 75% fall short of their targets and value generated.
Most companies now embrace project management best practices to ensure their technology projects are optimised for success. But far fewer appreciate that transformation management best practices need to be adopted to optimise business transformation success.
The Business Transformation Management Methodology (BTM²) is a four-phase holistic and integrated business transformation management methodology.
In a new report, BCG explains that the days of short-term, one-off transformations are ending, and that we have reached the era of “always-on transformation”.
Download the 21-page report from BCG:
A Leader's Guide to “Always-On” Transformation
The report describes some of the root causes of failure, the first of which comes down to a carrot and stick mentality. Another is when companies bring about changes to business and operating models, but fail to build the capabilities required to enable the people to work in new and different ways. The third is centred around the fact that transformation is treated as a one-off endeavour and the authors use an excellent analogy to highlight this flawed thinking:
Flawed Transformation Thinking
Essentially they put up some scaffolding around one aspect of the organisation, focus intently on changing one part of it, then take down the scaffolding thinking they can revert to steady-state operations.
– Boston Consulting Group