Here’s Why 70% of Business Transformations Fail
Transformation shouldn’t be that complicated. Like Blocking and Tackling in football the key is the basics, If you’re looking for sustainable business success, it can be as simple as focusing on these 3 key things:
Measure, Act, Communicate:
Getting the Right Metrics at the Right Levels
- Too often we have metrics that people can’t control at their level. To make metrics meaningful the owners must be able to directly impact metric performance. Successful organizations break strategic metrics into key tactical components at each level and department of the organization.
Holding People Accountable for Metric Performance
- Once appropriate metrics are defined and owners can impact and control them then they set up a non-negotiable accountability system. This system should be able to handle short-term – today’s work today – actions and more long term strategic actions that focus on recurring problem resolution. Accountability systems are a key part of standard work but one that many organizations struggle with.
Structured and Business Focused Communication
- Eliminate non-value meetings and focus on those meetings that drive the 2 components above and tie the entire system together. Every meeting should be metric and action focused with a standard format across the entire organization.
The keys to a successful transformation are that simple. The next step is deploying them.
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