Employees are seeking deeper purpose from their employment, as they want to feel part of something bigger…a company that goes above and beyond. This is usually not the same for the shareholders and board of directors. How does a company balance these financial and operating goal differences? On top of this, organizational structures are changing,…
To create a consistently strong, value-creating revenue growth – there has to be a good organizational execution in operations. In today’s business environment, there are significant changes to operating models: Lean – streamline processes, continuous improvement Digitization – customer self-service experience Automation – replace human tasks with robots / artificial intelligence Analytics – intelligence /…
70% of change efforts fail, which leads to crumbled organizations, frustration and resentment. I once saw an ERP implementation contract worth hundreds of millions of dollars to the Systems Integrator…not have a budget for change and training. Several Project Change Requests later, there was the minimum required to get us to Go Live. Many enterprise…
A famous Renaissance work was Machiavelli’s The Prince. Its thesis was “there is nothing more difficult to take in hand, more perilous to conduct, or more uncertain in its success, than to take the lead in the introduction of a new order of things.” John P. Kotter agreed with this thesis in HBR’s What Leaders…
There are a large number of interacting elements in today’s business world, which can be described as: Volatile – rapid change on large scale Uncertain – cannot predict with any precision Complex – complicated by many factors Ambiguous – little clarity on what events mean and what effect they may have For leaders, they seek…
Technology is automating work at an unprecedented rate. This work augmentation is drastically improving productivity: Insurance companies have software that can take a picture of a car and compute the amount of claim AI algorithms can read X-rays twice as well as seasoned radiologists Voice recognition can type 300% faster An uptick in interest for…
Radio Shack, the 94 year-old electronics retail chain, filed for Ch. 11 bankruptcy in 2015. At the end of 2014, they posted their 11th consecutive quarterly loss of $161 million on $650 million revenue…16% lower than the previous year. That year, their stock price eroded 95% to 13 cents and was delisted from the NYSE…
In the 1960’s, the average lifespan of a Fortune 500 company was 75 years; today, it is less than 15 years, and getting shorter (Source: Korn Ferry). 1/10 of public companies disappear each year. That is 4x the mortality rate since 1965. The average life span of a company has halved since 1970. Their traditional…
“Times and conditions change so rapidly that we must keep our aim constantly focused on the future.” Walt Disney, Dream Builder Globalization, technological innovation, and changing regulations are some of the factors creating unprecedented disruption and market turbulence. With this, there are profound changes in a company’s strategy, business model, organization, culture, people, and processes….
When new CEO’s transition into their roles, changes happen. They typically assess the organization design, complete a strategic review and assess the resource allocation between business units. If the CEO is external, he/she tends to outperform an internal hire because of the willingness to challenge the sacred cows and reverse previous CEO decisions. If the…
