Tuesday, May 11, 2010
The Value of Repeat Business
Thursday, April 15, 2010
What Small Business Owners Need to Know Now About the Health Care Tax Credit
What successful transformations share: McKinsey Global Survey results
When organizational transformations succeed, managers typically pay attention to “people issues,” especially fostering collaboration among leaders and employees and building capabilities.
Over years of research and client work, we’ve identified a few tactics that help drive successful transformational change—any large-scale change, such as going from good to great performance, cutting costs, or turning around a crisis. These tactics include setting clear, aspirational targets; creating a clear structure; maintaining energy and involvement throughout the organization; and exercising strong leadership.In this latest survey of executives from around the world,we’ve dug into just how companies apply some of these tactics. We found that a few approaches in each area are most tightly correlated with successful transformations of both short-term performance and long-term corporate effectiveness, or “health.” In addition, the approaches most used by successful companies tend to complement and reinforce one another.
The survey asked executives about types of transformations (what types their companies had undertaken and why), goals for the transformation (what the goals were, how they were defined, and how successfully they were met), and implementation (how companies structured and carried out the transformation).
By looking at the approaches used by companies that executives describe as most successful in transforming themselves, we found evidence suggesting the importance of engaging employees collaboratively throughout the company and throughout the transformation journey. Another major theme was the importance of building capabilities—particularly leadership capabilities—to maintain long-term organizational health. In addition, a focus on strengths and achievements, not just problems, throughout the entire transformation process is strongly tied to success.
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