Top performers understand that while a company can pursue outstanding holistic performance, it still must develop its reinvention muscles to respond effectively in times of uncertainty. The opposite is also true: an organization can push to reinvent itself, but if it doesn’t deliver financial results, the transformation won’t be sustainable.
After committing to a transformation, the executive team should ask questions in ten categories about the holistic performance and business reinvention it is targeting to help the organization sharpen goals and carry them out rapidly
Holistic Impact
- Performance. How do financial and operational indicators compare with best in class? How is the company delivering versus its full potential?
- Organizational health. How does the culture create energy, inspire people to change, and build the required set of behaviors that will deliver on business strategy and aspirations?
- Talent and capabilities. Is the company significantly reskilling and upskilling its current workforce? How are its core capabilities? Is it attracting new talent?
- Customer experience. Is the customer the focus? Are the company’s goals ambitious enough when it comes to customer experience?
- ESG. Are environmental, social, and governance criteria central to the purpose, strategy, and culture of the company? How do these principles drive growth?
Business Reinvention
- Operating model. Has the company deployed a customer-centric operating model with new ways of working and a nimble organizational design? How is the pace of decision making? Do mistakes get corrected quickly?
- New businesses. Is the company building and buying new businesses to drive growth? Is it innovating fast enough?
- Big strategic moves. Is the company pursuing “big moves” in portfolio management, programmatic M&A, and the dynamic allocation of resources needed to sustain its competitive advantage? Is it being thoughtful about where to compete?
- Analytics. Does the company use advanced analytics in day-to-day decision making, driving sizable and measurable value to the bottom line?
- Digital and technology. Is the company leading the reinvention of its customer journeys and processes with digital? Does it have the right technological infrastructure and architecture?
Authors: Cesar Okajima, Fábio Stul, José Pimenta da Gama, Sara Pliego
Source: “How bold is your business transformation? A new way to measure progress”
Original Publication: McKinsey Quarterly
Subject: Change Management Questions
Source: “How bold is your business transformation? A new way to measure progress”
Original Publication: McKinsey Quarterly
Subject: Change Management Questions
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