Business transformation is a hot topic on the lips of several leaders worldwide, yet scant attention is being paid to its actual attention. And even fewer are getting it correct. Management consulting giant Bain did a study to understand this and affirmed that only a tiny twelve percent of those surveyed got this correct. This study revealed that more than two-thirds of companies settled for mere dilution of value, leading to mediocre results. Another fifth failed outright with less than a fifty percent success ratio of transformations planned. One of the major causes for the failed transformation efforts was weak management of internal risks. Investing early not only financially but also emotionally pays off. But leaders need to have a detailed plan to master the nitty-gritties or the inside game. So while few companies are really getting it correct, at least now there is a proven benchmark to go for.

Source:http://www.bain.com/publications/articles/soul-searching-true-transformations-start-within.aspx

Uploaded Date:28 July 2018