Head of Touchstone Business IntelligenceMore
You’ve heard the saying ‘the only constant in life is change’. It’s something we should all be used to in most aspects of our life today but the realities of delivering major change in the business environment can be daunting and a major challenge for any organisation regardless of its size.
It’s been claimed that real change doesn’t happen until the pain level gets high enough. So what are the key drivers that lead to this tipping point? We know organisations are under increasing pressure from outside influences such as a disruptive technology or the impact of global instability. However, more commonly, the cause will be the need to make certain internal processes more efficient, a change in customer requirements, new legislation or increased competition.
There’s no denying that change is challenging. So how do you ensure that your business is not one of the 70% of transformation projects that McKinsey says are destined to fail?
Barriers to successful change are unfortunately an inevitable part of the process whatever the business transformation project is. However, they shouldn’t be a reason to not embark on a project, and if approached correctly these barriers can be overcome successfully.
How you approach business transformation from the project outset is the key to its success. Here are some tips to help ensure you keep your project on track:
Change is inevitable in any business and it’s those organisations with the shortest learning curves who will thrive. It’s essential that businesses use change to their advantage and the intelligent business will embrace the journey.