Currently viewing the tag: "Business Transformation"

brain3Business Transformation initiatives are typically undertaken to solve a pressing issue, bring about improved performance, or to serve customers better.  A critical element of the success of such initiatives entails transforming the existing behaviors of the employees across the organization.  However, this isn’t a straightforward task.

Attitudes and practices get reinforced in people by following established routines day in and day out.  Such practices become a part of an Organizational Culture over time.  Ingrained organizational behaviors and practices aren’t considered burdening until the organization’s performance starts declining considerably over time.  That’s when the leaders start thinking about changing these beliefs and habitual actions.

Psychology and Neuroscience can help enterprises change the deeply embedded attitudes and practices of people and replace those with new beliefs and practices.  Leading organizations are using psychology and brain research to induce successful change.  Specifically, they focus on the right priorities to enable Organizational and Behavioral Change and take the following 6 steps—or 6 Rs of Behavioral Change:

  1. Recognize
  2. Relabel
  3. Reflect
  4. Refocus
  5. Respond
  6. Revalue

Let’s dive deeper into the first 3 steps critical to render behavioral change.

Step 1 – Recognize

The first step involves the leadership reflecting on the behaviors that are required to be transformed.  Leaders are responsible for articulating the future vision of an organization, prioritizing and implementing initiatives to achieve the vision, and take measures to tackle disruption caused by technology and rivals.  Self-Reflection on undesired behaviors by role models (including senior leaders) is essential to make other people ponder over their behaviors.

Leadership behaviors inform the workforce about the Transformation required, assist in championing the agenda, and make these behaviors resonate across the board.  Individuals, in turn, should contemplate on the alignment of their behaviors with their personal / organizational goals, think of new improved ways of doing things, and dump convenient yet unproductive behaviors.

Step 2 – Relabel

The 2nd step of the 6 Rs to Organizational Change necessitates categorizing and naming the flawed or unfit behaviors.  Neuroscience research has revealed that by naming behaviors and understanding that thoughts are merely ideas, persons with Obsessive Compulsive Disorder can disregard useless thoughts and behaviors that trigger them to wash their hands again and again.

Relabeling thoughts allows individuals to stop reflecting on useless thoughts.  Likewise, in an organizational setting leadership needs to evaluate which shared thoughts don’t work well, categorize them, and communicate the reasons for their unsuitability across the organization.

Step 3 – Reflect

In this step, senior management replaces outdated beliefs and behaviors and outlines the vision or desired objectives and behaviors.  The outlined desired objectives and behaviors need to be explicit, translated into daily actions, and attractive to the people.  This may warrant training of people to reflect on the desired expectations and behaviors collectively.  Effective communication of benefits of altered objectives and behaviors assists in subsiding the unrest associated with change in people and relaxing their mind and thoughts.  This must include informing people that uncertainties are part of business and that they should keep their focus on organizational values and what matters most during change.  Reflection creates a sense of ownership among employees that is otherwise difficult to be achieved by any cascaded top-to-bottom directives.

Interested in learning more about the other steps or Rs critical to engender Change ?  You can download an editable PowerPoint on 6 Rs to Behavioral Change here on the Flevy documents marketplace.

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– Roderick Cameron, Founding Partner at SGFE Ltd

9575523281?profile=RESIZE_400xDigital Transformation in Manufacturing, or Digital Manufacturing for short, is a matter of survival now for manufacturing concerns.  Manufacturing companies desirous of survival have no choice but to hop on the Digital Transformation bandwagon, rapidly.

Business Transformation of any kind is not an easy endeavor.  Change Management of Digital Manufacturing is typically more difficult than any Change or Transformation Program that an organization may undertake.

Forming a strategy to leverage digital technologies is the 1st step in transforming a manufacturing concern towards Digital Manufacturing.  Bigger challenges are faced in strategy execution.

For Transformation execution to be effective, CEOs must reconsider almost everything about the way their companies work; for instance, establish new Business Models, reorganize their Organizational Design, and also rethink their Leadership style.

Specifically, there are 3 key pillars of Digital Manufacturing execution that need careful consideration for the Transformation to be successful:

  1. Business Model over Technology
  2. Independence of Digital Operations
  3. CEO-driven Digital Transformation

 Let us consider the key pillars a little more in detail.

Business Model over Technology

Shifting from old technology to new is easier than changing the Business Model of any concern, especially a manufacturing concern.  Customarily, manufacturers sell machinery, hand out software as complementary, and offer after sales repair and maintenance service for the machinery.

For Digital Transformation to be truly successful, the whole way of doing business has to change.  Manufacturers have to look at what they are selling i.e., outcome instead of a product.  What is important is manufacturers should be willing to do away with existing Business Models to create and capture new value.

Value creation is achievable in many ways using industrial Internet of Things (IoT) by manufacturers.  All of the avenues for value creation should be used in parallel so as to gain the largest impact.

Value created through Digital Manufacturing can be captured in 2 ways:

  1. Software as a Service and Subscriptions/Licenses
  2. Offering Success as a Service

Independence of Digital Operations

Digital operations can create a meaningful impact only when they are independent of the main business.  Independence is important but so is proper linkage with the industrial business.

Initially, understanding regarding value provided by Digital operations may be very limited in the manufacturing business therefore cooperation may be inhibited.  Finding ways to link Digital operations with the manufacturing business must cater to the requirement of understanding how the machines work.

Resistance from the manufacturing business is expected when the 2 forces combine, especially when the Digital operations grow.  Delineating who handles customer relationship and all factors associated with it, is also a question that may spring up in cooperation between manufacturing and digital operations.

Ways to obtain gains from linking vertical business and the horizontal digital function must be found.

CEO-driven Digital Transformation

Sponsor of the Digital Manufacturing initiative has to be the CEO.  Only the CEO has the influence to decide the divergences between the old manufacturing business and the new digital business.

CEOs have to drive the Digital Manufacturing shift.  Leading from the front to make everyone understand that Digital Transformation is a very serious and important endeavor.

CEOs must have the will and resolve to challenge incumbency, obliviousness, and existing state of affairs.  While remaining firm on the strategic direction, CEOs must be flexible enough to experiment, learn, and adjust course.

Interested in learning more about Digital Manufacturing?  You can download an editable PowerPoint on Digital Manufacturing here on the Flevy documents marketplace.

Editor’s Note: 

If you are interested in becoming an expert on Supply Chain Management (SCM), take a look at Flevy’s Supply Chain Management (SCM) Frameworks offering here.  This is a curated collection of best practice frameworks based on the thought leadership of leading consulting firms, academics, and recognized subject matter experts.  By learning and applying these concepts, you can you stay ahead of the curve.  Full details here.

Want to Achieve Excellence in Supply Chain Management (SCM)?

Gain the knowledge and develop the expertise to become an expert in Supply Chain Management (SCM).  Our frameworks are based on the thought leadership of leading consulting firms, academics, and recognized subject matter experts.  Click here for full details.

Supply Chain Management (SCM) is the design, planning, execution, control, and monitoring of Supply Chain activities.  It also captures the management of the flow of goods and services.

In February of 2020, COVID-19 disrupted—and in many cases halted—global Supply Chains, revealing just how fragile they have become.  By April, many countries experienced declines of over 40% in domestic and international trade.

COVID-19 has likewise changed how Supply Chain Executives approach and think about SCM.  In the pre-COVID-19 era of globalization, the objective was to be Lean and Cost-effective. In the post-COVID-19 world, companies must now focus on making their Supply Chains Resilient, Agile, and Smart.  Additional trends include Digitization, Sustainability, and Manufacturing Reshoring.

Learn about our Supply Chain Management (SCM) Best Practice Frameworks here.

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You can download in-depth presentations on this and hundreds of similar business frameworks from the FlevyPro Library.  FlevyPro is trusted and utilized by 1000s of management consultants and corporate executives.  Here’s what some have to say:

“My FlevyPro subscription provides me with the most popular frameworks and decks in demand in today’s market.  They not only augment my existing consulting and coaching offerings and delivery, but also keep me abreast of the latest trends, inspire new products and service offerings for my practice, and educate me in a fraction of the time and money of other solutions.  I strongly recommend FlevyPro to any consultant serious about success.”

– Bill Branson, Founder at Strategic Business Architects

“As a niche strategic consulting firm, Flevy and FlevyPro frameworks and documents are an on-going reference to help us structure our findings and recommendations to our clients as well as improve their clarity, strength, and visual power.  For us, it is an invaluable resource to increase our impact and value.”

– David Coloma, Consulting Area Manager at Cynertia Consulting

“FlevyPro has been a brilliant resource for me, as an independent growth consultant, to access a vast knowledge bank of presentations to support my work with clients.  In terms of RoI, the value I received from the very first presentation I downloaded paid for my subscription many times over!  The quality of the decks available allows me to punch way above my weight – it’s like having the resources of a Big 4 consultancy at your fingertips at a microscopic fraction of the overhead.”

– Roderick Cameron, Founding Partner at SGFE Ltd

9564571461?profile=RESIZE_400xDigital Transformation in Manufacturing or “Digital Manufacturing” for short is not an optional decision for companies anymore.  Manufacturing concerns that want to survive have to jump on the Digital Transformation bandwagon hastily.  Digital Manufacturing has become a prerequisite for a profitable existence even for mere survival of a manufacturing concern.

Business Transformation of any kind is difficult—more so when it is a Digital Transformation in Manufacturing.  In fact, Change Management of Digital Transformation in Manufacturing is typically more difficult than any change or Transformation program that an organization may undertake.

Not many manufacturing concerns had cognizance of the digital technologies until very recently.  Still, manufacturing concerns find it very hard to manage a successful Digital Transformation.

Digital technologies can disrupt businesses.  A Digital Transformation is not the Digitalization of an existing business.  Digital Manufacturing does not entail simply changing technologies, automating processes, taking aid of Artificial Intelligence in the process; in fact it means redefining the nature of work and productivity.

Starting a Digital Manufacturing project can be an arduous process.  Executives customarily approach this task with a lot of prudence and get caught in questions that are actually misnomers and myths, weakening the Digital Transformation process.  The 4 biggest myths about Digital Manufacturing are: 

Myth 1. Is outsourcing or partnering, to build digital capabilities, not speedier and less investment intensive? 

Myth 2. Why can the existing IT team and CIO not be used for this project instead of hiring new talent and creating a CDO position, both unaware of our business? 

Myth 3. Should each of our businesses not have individual digital capabilities tailored to their needs rather than a central digital unit that serves all businesses? 

Myth 4. Should not our approach to developing digital capabilities be phased rather than big bang?

More on these myths can be found in the PowerPoint presentation titled Challenges to Digital Manufacturing on Flevy.

Digital Manufacturing opens doors for many opportunities.  It allows the manufacturers to find ways of refining the performance and reliability of machines and increasing customer productivity through customer usage data gathered by sensors in their machines.

This approach allows manufacturers to sell outcomes rather than products.  Outcome delivery via Data Analysis and Performance Enhancement is a business opportunity worth trillions of dollars, according to a World Economic Forum study. 

Despite realizing the opportunities of Digital Manufacturing, companies find the process extremely difficult.  Digital Manufacturing has both structural as well as behavioral barriers stopping it from being successfully executed.

Manufacturers have to surpass the following 3 chief obstacles in order for them to be true Digital Manufacturers:

  1. Incumbency
  2. Talent
  3. Culture

Let us dive a little deeper into the obstacles. 

Incumbency

Rigidity is a major barrier in bringing about change.  Companies create capabilities and Business Models to succeed.  Overtime, when these capabilities and Business Models become critical for success and hard to imitate for the rivals, they transform into rigidities.  Success of such capabilities and models make the companies wary of bringing change in them.

Leaders refrain from touching projects with longer time periods as it may not show benefits during their tenures.  The reward structure in companies also encourages short-term gains to longer-term, capital intensive endeavors.  

Talent

Not many manufacturing organizations consider developing Digital Talent internally.  This leads to a dearth of key talent integral to build Digital Manufacturing capabilities.

The primary reason for this is the view that digital technology is an auxiliary function.
In-house capabilities are not developed because Digital Manufacturing requires an amalgam of personnel from the virtual sciences and the conventional engineering sciences. Both have a very different way of thinking and doing things, making it a great challenge to build them into a team.

Culture

Organizational culture at manufacturing firms is a significant hurdle in adopting digital technology.  Manufacturers have traditionally had long product-development lifecycles, long sales cycles, and a culture of constantly improving efficiency.  In order to be more digital, manufacturing concerns have to accept concepts used in the digital world e.g., agility, simplicity, and responsiveness.

Interested in learning more about the Challenges to Digital Manufacturing?”  “You can download an editable PowerPoint on Challenges to Digital Manufacturing here on the Flevy documents marketplace.

Want to Achieve Excellence in Supply Chain Management (SCM)?

Gain the knowledge and develop the expertise to become an expert in Supply Chain Management (SCM).  Our frameworks are based on the thought leadership of leading consulting firms, academics, and recognized subject matter experts.  Click here for full details.

Supply Chain Management (SCM) is the design, planning, execution, control, and monitoring of Supply Chain activities.  It also captures the management of the flow of goods and services.

In February of 2020, COVID-19 disrupted—and in many cases halted—global Supply Chains, revealing just how fragile they have become.  By April, many countries experienced declines of over 40% in domestic and international trade.

COVID-19 has likewise changed how Supply Chain Executives approach and think about SCM.  In the pre-COVID-19 era of globalization, the objective was to be Lean and Cost-effective.  In the post-COVID-19 world, companies must now focus on making their Supply Chains Resilient, Agile, and Smart.  Additional trends include Digitization, Sustainability, and Manufacturing Reshoring.

Learn about our Supply Chain Management (SCM) Best Practice Frameworks here.

Do You Find Value in This Framework?

You can download in-depth presentations on this and hundreds of similar business frameworks from the FlevyPro Library.  FlevyPro is trusted and utilized by 1000s of management consultants and corporate executives. Here’s what some have to say:

“My FlevyPro subscription provides me with the most popular frameworks and decks in demand in today’s market.  They not only augment my existing consulting and coaching offerings and delivery, but also keep me abreast of the latest trends, inspire new products and service offerings for my practice, and educate me in a fraction of the time and money of other solutions.  I strongly recommend FlevyPro to any consultant serious about success.”

– Bill Branson, Founder at Strategic Business Architects

“As a niche strategic consulting firm, Flevy and FlevyPro frameworks and documents are an on-going reference to help us structure our findings and recommendations to our clients as well as improve their clarity, strength, and visual power.  For us, it is an invaluable resource to increase our impact and value.”

– David Coloma, Consulting Area Manager at Cynertia Consulting

“FlevyPro has been a brilliant resource for me, as an independent growth consultant, to access a vast knowledge bank of presentations to support my work with clients.  In terms of RoI, the value I received from the very first presentation I downloaded paid for my subscription many times over!  The quality of the decks available allows me to punch way above my weight – it’s like having the resources of a Big 4 consultancy at your fingertips at a microscopic fraction of the overhead.”

– Roderick Cameron, Founding Partner at SGFE Ltd

8812893896?profile=RESIZE_400xThe phenomenal success of tech innovators using Platforms has spurred a desire in companies, from a greater variety of sectors and markets, to gain advantage of Product to Platform Transformation.

This Transformation is based on the need to model businesses on a Customer-Centric Design approach.  The need has arisen because the concept of Economies of Scale has become archaic and has been taken over by Economies of Unscale.  Each customer is now being offered customized products and solutions.

The phenomenal success, by the trailblazing tech innovators, was achieved partly by deploying Platform Scaling that enabled Business Transformation and monopolization of the market.  Though, this monopolization and questionable use of the Platform, especially data generated therefrom, saw attempts to regulate these tech companies—making the decision to scale a complex one.  Understanding the intricacies of Platform Scaling is thus critical to the development and deployment of any Platform Strategy.

When considering Platform Scaling Strategy, there are 2 key aspects that are of utmost significance:

Regulatory Complexity

Regulatory Complexity means present level of legal and regulatory impediments that govern Platform entry and operation in a sector. 

Regulatory Risk

Regulatory Risk refers to the probability of an upsurge in Legal and Regulatory Costs and Complexity in the future.

Some equitable and measurable metrics for calculating Regulatory Risks do exist but generally it is extremely challenging to predict policy outcomes or even ascribe odds to various outcomes.

A straightforward approach for Platform owners and operators to understand and evaluate the prospective combinations of Regulatory Complexity and Risk is to create a 2×2 matrix of high vs. low for the 2 factors.

Regulatory Complexity and Risk are turning out to be the determining factors in the strategic decision between Fast and Slow Scaling.

Fast Scaling, which has also been referred to as Blitzscaling, requires choosing speed over efficiency.  Fast Scaling has the strategic objective of growing briskly, experimenting swiftly to tweak product-market fit, and taking advantage of robust network effects to achieve and maintain a leading market share.

Fast Scaling is required to activate 3 interconnected positive feedback loops:

  1. Network Loop
  2. Data Loop
  3. Capital Loop.

Slow Scaling is the most sensible strategy in areas with both High Regulatory Complexity and High Regulatory Risk.  Slow Scaling does not disregard the quest for network effects, which are a requirement for success of platform businesses, but it gives preference to analysis, constant growth, and risk curtailment instead of speed.

Platform businesses functioning in High-Risk, High Complexity situations may evade pitfalls by employing 4 key components of Slow-Scaling strategy:

  1. Analysis of the Macro Environment
  2. Careful Risk Management
  3. Investment in Stakeholder Trust
  4. Incremental Geographic Expansion.

Let us now delve a little deeper into the various permutations of Regulatory Complexity and Risk, quadrant-wise, in the matrix.

QUADRANT 1

Regulatory Risk              Regulatory Complexity

Low                                        Low

Compliance costs are comparatively low in such situations and there are no serious deliberations among regulators and policy makers concerning restrictions on business models or operations.

The Strategy in this case is to Scale Fast.

QUADRANT 2

Regulatory Risk             Regulatory Complexity

Low                                        High

Sectors in such scenarios are highly regulated e.g., financial services sector.  Significant workforce is employed in governance, risk management, and compliance activities.  Entering such markets necessitates careful consideration of Regulatory Complexity.

The strategy in such scenarios is to Scale Fast.

QUADRANT 3

Regulatory Risk             Regulatory Complexity

High                                       Low

Operations are generally in a Regulatory void—i.e., no established and powerful regulatory authority, tight net of rules, or strict barriers to entry.  There is a great degree of ambiguity regarding how regulators may react.  Environment in such markets makes it difficult for businesses to mature discrete policy scenarios, allocate probabilities, and make strong assumptions on timing.

Strategy is to Scale Fast in such environments.

QUADRANT 4

Regulatory Risk             Regulatory Complexity

High                                       High

There is high Regulatory Complexity, such as unclear approach by various regulators in the various markets.  There are strong chances of sudden change in regulator and policy maker’s approach due to a particular incident.  Precipitous increase in entire sector’s Regulatory Risk triggered by events is highly likely.

The most sensible strategy in such cases is to Scale Slow.

Interested in learning more about the permutations of these 2 Scaling Strategies, areas of strategic focus, and the 4 components of Slow Scaling Strategy?  You can download an editable PowerPoint on Platform Scaling Strategy here on the Flevy documents marketplace.

Do You Find Value in This Framework?

You can download in-depth presentations on this and hundreds of similar business frameworks from the FlevyPro Library.  FlevyPro is trusted and utilized by 1000s of management consultants and corporate executives.  Here’s what some have to say:

“My FlevyPro subscription provides me with the most popular frameworks and decks in demand in today’s market.  They not only augment my existing consulting and coaching offerings and delivery, but also keep me abreast of the latest trends, inspire new products and service offerings for my practice, and educate me in a fraction of the time and money of other solutions.  I strongly recommend FlevyPro to any consultant serious about success.”

– Bill Branson, Founder at Strategic Business Architects

“As a niche strategic consulting firm, Flevy and FlevyPro frameworks and documents are an on-going reference to help us structure our findings and recommendations to our clients as well as improve their clarity, strength, and visual power.  For us, it is an invaluable resource to increase our impact and value.”

– David Coloma, Consulting Area Manager at Cynertia Consulting

“FlevyPro has been a brilliant resource for me, as an independent growth consultant, to access a vast knowledge bank of presentations to support my work with clients. In terms of RoI, the value I received from the very first presentation I downloaded paid for my subscription many times over!  The quality of the decks available allows me to punch way above my weight – it’s like having the resources of a Big 4 consultancy at your fingertips at a microscopic fraction of the overhead.”

– Roderick Cameron, Founding Partner at SGFE Ltd

Stock Image 2 - Business Transfromation CSFsBusiness Transformations have become a necessity in the fast-changing technological and competitive business environment.  Transformation is characterized by significant and risk-laden Restructuring of a company, with the objective of accomplishing Operational Excellence and changing its future course.

Business Transformation is a priority for many top executives but it is usually a reaction to challenging circumstances rather than being a preemptive measure.

Business Transformation is prompted by a combination of 2 situations:

  • Need to address inherent problems causing organizational drag—these problems may be internal and/or external.
  • Aspiration by the top management and other senior stakeholders to seize the occasion of addressing these problems, in ways that deeply alter the Business Model of the organization including Value Creation.

Business Transformation entails not just making incremental changes but fundamentally changing all or some of the following:

  • Organizational Structure
  • Core Product or Service Portfolio
  • Systems
  • Processes
  • People—the way employees work
  • Technology

Undertaking such arduous effort requires approaching the task in a structured way.  Research shows that quite a few of such undertakings are based on anecdotal beliefs instead of being based on empirical data.

Countering this trend, the Boston Consulting Group conducted an empirical study of financial and non-financial data-set comprising 300 U.S. public companies.  The data spanned a period of 12 years from 2004 to 2016.  Selection was based on the following criteria:

  • Companies that had a $10 billion or more market capitalization between 2004 and 2016.
  • Of these, companies with an annualized deterioration in Total Share-holder Return (TSR) of 10% or more relative to their industry average (2 years running or more) were identified.

Based on extensive analysis—that included use of methodologies like trained proprietary algorithms, prediction models, and Multivariate Regression Analysis—a pattern pertaining to Business Transformation emerged.  The pattern depicted the following themes:

  1. Frequency of Failure
  2. Impact of Digital Disruption
  3. Impact of Downturn
  4. Competitive Volatility

The study also suggested the following 5 evidence-based Critical Success Factors (CSFs) for achieving Transformation Success.

  1. Cost Management (drives short-term success)
  2. Revenue Growth (drives long-term success)
  3. Long-term Strategy and R&D Investment
  4. New, External Leadership
  5. Holistic Transformation Programs

Let us examine in a bit more detail some of the CSFs.

Cost Management

In order to launch the Transformation effort on the correct footing, Cost Management is key, in the short term especially.  Predictably, empirical analysis suggests that the leading driver for organizations recovering from severe TSR deterioration is a determined Cost-cutting effort during the 1st year of Turnaround.  By year 3, Cost Reduction is accountable for the major share of TSR growth as companies divert their portfolios and make available funding for growth investments.

Revenue Growth

Merely short-term operational improvements do not augur well for a sustainable Transformation.  There has to be a long-term Growth Strategy put in place.  For this to happen, leaders have to challenge the foundations of the company’s Business Model.

Research divulges that Revenue Growth progressively becomes the driver for TSR recovery after year 1 in all the successful Transformation efforts.  Revenue Growth overshadows, by far, all the initial drivers for TSR recovery by year 5 of all successful Turnaround efforts.

Long-term Strategy and R&D Investment

Turbulent competitive environments, particularly, require long-term Strategic Planning and investment in Research and Development for fruitful Business Transformations.  Empirical research and analysis demonstrates:

  • A 4.8% difference between Transforming companies showing above-average long-term strategic direction compared to companies with a below-average orientation.
  • More pronounced findings in transforming companies operating in turbulent competitive environments—long-term orientation linked with a TSR increase of 7%.
  • Companies with above-average R&D investments had upwards of 5.1% TSR impact in contrast to those with below-average spending.

These CSFs strengthen the odds of success in Business Transformation individually.  When used together, most of them produce an impact that is larger than the totality of their individual parts.

Interested in learning more about the 5 Critical Success Factors for Successful Business Transformation?  You can download an editable PowerPoint on 5 Critical Success Factors for Successful Business Transformation here on the Flevy documents marketplace.

Want to Achieve Excellence in Business Transformation?

Gain the knowledge and develop the expertise to become an expert in Business Transformation.  Our frameworks are based on the thought leadership of leading consulting firms, academics, and recognized subject matter experts. Click here for full details.

“If you don’t transform your company, you’re stuck.” – Ursula Burns, Chairperson and CEO of VEON; former Chairperson and CEO of Xerox

Business Transformation is the process of fundamentally changing the systems, processes, people, and technology across an entire organization, business unit, or corporate function with the intention of achieving significant improvements in Revenue Growth, Cost Reduction, and/or Customer Satisfaction.

Transformation is pervasive across industries, particularly during times of disruption, as we are witnessing now as a result of COVID-19.  However, despite how common these large scale efforts are, research shows that about 75% of these initiatives fail.

Leverage our frameworks to increase your chances of a successful Transformation by following best practices and avoiding failure-causing “Transformation Traps.”

Learn about our Business Transformation Best Practice Frameworks here.

Do You Find Value in This Framework?

You can download in-depth presentations on this and hundreds of similar business frameworks from the FlevyPro Library.  FlevyPro is trusted and utilized by 1000s of management consultants and corporate executives. Here’s what some have to say:

“My FlevyPro subscription provides me with the most popular frameworks and decks in demand in today’s market.  They not only augment my existing consulting and coaching offerings and delivery, but also keep me abreast of the latest trends, inspire new products and service offerings for my practice, and educate me in a fraction of the time and money of other solutions.  I strongly recommend FlevyPro to any consultant serious about success.”

– Bill Branson, Founder at Strategic Business Architects

“As a niche strategic consulting firm, Flevy and FlevyPro frameworks and documents are an on-going reference to help us structure our findings and recommendations to our clients as well as improve their clarity, strength, and visual power.  For us, it is an invaluable resource to increase our impact and value.”

– David Coloma, Consulting Area Manager at Cynertia Consulting

“FlevyPro has been a brilliant resource for me, as an independent growth consultant, to access a vast knowledge bank of presentations to support my work with clients.  In terms of RoI, the value I received from the very first presentation I downloaded paid for my subscription many times over!  The quality of the decks available allows me to punch way above my weight – it’s like having the resources of a Big 4 consultancy at your fingertips at a microscopic fraction of the overhead.”

– Roderick Cameron, Founding Partner at SGFE Ltd

Srategic Human Res Stock Image 2Today’s information-based, knowledge intensive, and service-driven economy has forced organizations to make substantial changes to the way they compete.  Changing perspective and responsibility of top management amidst rapid Business and Digital Transformation and the shifting role of HR from being an auxiliary function to that of a driver are some of the dynamics of the evolved competition.

This evolution of Competition has been reached by passing through 3 phases:

  1. Competition for Products & Markets
  2. Competition for Resources & Competencies
  3. Competition for Talent & Dreams

Throughout the evolutionary phases of competition, the focus of Growth Strategy, the tools used, and the key strategic resources have been shifting.  The strategic objective of front-running organizations is on continuous evolution and Transformation, and motivated Human Capital is their key resource.  This realization is now at the forefront of Strategy Development as competition for scarce Talented Human Resources becomes more intense.  However, modern-day managers are still using old tools to deal with an emerging reality.

Dexterity in leadership and management is a prerequisite for leaders now.  Research suggests that the 3 important changes that the CEOs must make in terms of their strategic perspective are in:

  1. Strategic Resources
  2. Value Creation and Distribution
  3. Role of Senior Leadership

More on this topic in our editable PowerPoint presentation on Strategic Human Resources.

With the fast-changing focus in Strategy, Human Resource Managers are finding themselves leading the strategic charge.  However, a large majority is ill prepared for the role.  With Human Capital becoming key strategic resource and basis of Competitive Advantage, HR must adopt 3 core processes to evolve into the strategic HR function that has become their new realm:

  1. Building
  2. Linking
  3. Bonding

Let us delve into the first 2 core processes to strategic HR function in a little more detail.

1. Building

The first core process of Building is all about creating human resource systems, processes, and culture to counter the deep-rooted bias towards financial assets and recognize the value of Human Capital.  For instance, Microsoft annually scans the entire pool of 25,000 U.S. computer science graduates for the best 500 to be given offers, of which 400 – top 2% of that year’s graduates – accept.  This only fills 20% of the positions.  For the rest, Microsoft maintains industry linkages with 300 recruiting experts who scour the industry for the best and the brightest individuals, often wooing them for years.

2. Linking

Developing Knowledge Sharing Networks is core to leveraging Human Capital.  Converting individual expertise into embedded intellectual capital is what linking is all about.  For example, British Petroleum in the 1990s introduced the Knowledge Management and Organizational Learning program.  The main feature of the program was the “Peer Assist” where frontline workers in one location would help solve a problem for workers in another location without the usual hierarchy intervening.  Peer Assist was augmented by the “Peer Groups” of business units—i.e. business units engaged in the same assisting activities as frontline individuals.  This way managers of decentralized operations compare experiences and share ideas.  Once this Information Sharing Network took root it was supported by setting up information-sharing infrastructure – e.g., video conferencing, chat rooms, video clip encoders etc.

Interested in learning more about the details of the 3 Core Processes required to evolve your HR into a strategic HR function and Key Actions needed to implement these?  You can download an editable PowerPoint presentation on Strategic Human Resources here on the Flevy documents marketplace.

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The purpose of Human Resources (HR) is to ensure our organization achieves success through our people.  Without the right people in place—at all levels of the organization—we will never be able to execute our Strategy effectively.

This begs the question: Does your organization view HR as a support function or a strategic one? Research shows leading organizations leverage HR as a strategic function, one that both supports and drives the organization’s Strategy.  In fact, having strong HRM capabilities is a source of Competitive Advantage.

This has never been more true than right now in the Digital Age, as organizations must compete for specialized talent to drive forward their Digital Transformation Strategies.  Beyond just hiring and selection, HR also plays the critical role in retaining talent—by keeping people engaged, motivated, and happy.

Learn about our Human Resource Management (HRM) Best Practice Frameworks here.

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“My FlevyPro subscription provides me with the most popular frameworks and decks in demand in today’s market. They not only augment my existing consulting and coaching offerings and delivery, but also keep me abreast of the latest trends, inspire new products and service offerings for my practice, and educate me in a fraction of the time and money of other solutions. I strongly recommend FlevyPro to any consultant serious about success.”

– Bill Branson, Founder at Strategic Business Architects

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– David Coloma, Consulting Area Manager at Cynertia Consulting

“FlevyPro has been a brilliant resource for me, as an independent growth consultant, to access a vast knowledge bank of presentations to support my work with clients. In terms of RoI, the value I received from the very first presentation I downloaded paid for my subscription many times over! The quality of the decks available allows me to punch way above my weight – it’s like having the resources of a Big 4 consultancy at your fingertips at a microscopic fraction of the overhead.”

– Roderick Cameron, Founding Partner at SGFE Ltd

8543198671?profile=RESIZE_400xReorganization becomes essential at some stage in the lifecycle of any organization.  In order to emerge triumphant through this tumultuous challenge, it is necessary that the focus remains on the challenges impeding the organization, thorough Strategic Planning to tackle the challenges, and prioritizing strategic initiatives to deliver effective Business Transformation.  Strategic Restructuring has the capability to deliver these results.

When the word “Restructuring” pops up, the foremost idea that comes to mind is achieving Cost Reduction by minimizing payroll costs—predominantly by cutting back on the headcount.

Scores of organizations have suffered because, in the melee of headcount reduction, the most competent employees quickly found opportunities elsewhere, leaving inappropriately competent employees behind, resulting in a crippled organization.

The purpose of Restructuring is to make the organization profitable, efficient, and effective.  Headcount reduction should be a consequence of the Restructuring initiative and not the prime objective.

To avoid an outcome that debilitates the organization as a result of Restructuring, it is absolutely essential to keep an eye on the Critical Success Factors (CSFs) while the organization moves through the 4 phases of Strategic Restructuring.  Strategic Restructuring’s 5 CSFs include:

  1. Strategic Focus
  2. Continuous Communication
  3. Participative Focus
  4. Positions before People
  5. Focus on Competency

Experts suggest envisioning a “Future State” for the organization, to be achieved through a robust Strategy that includes Change Management, implemented by the most competent employees who are redeployed.  The rest of the employees either severe ties voluntarily or are laid off—ideally with a good severance package or a job placement, with the organization’s help, somewhere else.

Leadership has to ensure firm resolution in employing these Critical Success Factors in order to establish its role and build a constituency among employees who believe in the need for change.  Let’s dig deeper into the 5 CSFs of Strategic Restructuring.

1. Continuous Communication

  • Communication is a decisive factor in Strategic Restructuring. Pitfall in this factor is the “need to know” approach.  Top-level leadership should be communicating with the whole organization quite frequently.
  • Immediate and full disclosure of information builds trust in the management’s actions.
  • Repetition is key in getting the message across. Believing that enunciating once is enough, will be erroneous on the leadership’s part.

2. Participative Focus

  • Redesign of structure is a bottoms-up job because the information and expertise are dispersed throughout the organization.
  • Employees in the thick of the action are in the best position to undertake this effort.
  • The management develops the organizational framework and keeps apprising the employees regarding the overall strategy in order to keep the direction true.
  • A participative approach to Restructuring assists in building employee morale and engagement levels.

Interested in learning more about the Restructuring’s Critical Success FactorsTransformation Phases, and a Case Study on Restructuring?”  You can download an editable PowerPoint on Strategic Restructuring: Critical Success Factors on the Flevy documents marketplace. 

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“If you don’t transform your company, you’re stuck.” – Ursula Burns, Chairperson and CEO of VEON; former Chairperson and CEO of Xerox

Business Transformation is the process of fundamentally changing the systems, processes, people, and technology across an entire organization, business unit, or corporate function with the intention of achieving significant improvements in Revenue Growth, Cost Reduction, and/or Customer Satisfaction.

Transformation is pervasive across industries, particularly during times of disruption, as we are witnessing now as a result of COVID-19. However, despite how common these large scale efforts are, research shows that about 75% of these initiatives fail.

Leverage our frameworks to increase your chances of a successful Transformation by following best practices and avoiding failure-causing “Transformation Traps.”

Learn about our Business Transformation Best Practice Frameworks here.

Do You Find Value in This Framework?

You can download in-depth presentations on this and hundreds of similar business frameworks from the FlevyPro Library.  FlevyPro is trusted and utilized by 1000s of management consultants and corporate executives. Here’s what some have to say:

“My FlevyPro subscription provides me with the most popular frameworks and decks in demand in today’s market. They not only augment my existing consulting and coaching offerings and delivery, but also keep me abreast of the latest trends, inspire new products and service offerings for my practice, and educate me in a fraction of the time and money of other solutions. I strongly recommend FlevyPro to any consultant serious about success.”

– Bill Branson, Founder at Strategic Business Architects

“As a niche strategic consulting firm, Flevy and FlevyPro frameworks and documents are an on-going reference to help us structure our findings and recommendations to our clients as well as improve their clarity, strength, and visual power. For us, it is an invaluable resource to increase our impact and value.”

– David Coloma, Consulting Area Manager at Cynertia Consulting

“FlevyPro has been a brilliant resource for me, as an independent growth consultant, to access a vast knowledge bank of presentations to support my work with clients. In terms of RoI, the value I received from the very first presentation I downloaded paid for my subscription many times over! The quality of the decks available allows me to punch way above my weight – it’s like having the resources of a Big 4 consultancy at your fingertips at a microscopic fraction of the overhead.”

– Roderick Cameron, Founding Partner at SGFE Ltd

Stock image 2 - Redep assessment process & methodsOrganizations that have survived over time have had to reinvent themselves over and over with the changes in the environment.  These Business Transformations almost always include Cost Reduction that tend to lean towards Headcount Reduction.  Headcount Reduction is typically achieved using 2 approaches:

  1. Downsizing
  2. Restructuring

Downsizing keeps the fundamentals of the roles same with only fewer people performing those roles.  Whereas, Restructuring creates new roles, as well as modify existing roles, requiring a new mix of skills or altogether new resources to perform them.

Restructuring presents a more challenging task in that a new mix of skills has to be identified for each role, an Assessment Process has to be set up to assess existing employees against new competencies, and Redeployment after Restructuring (or new recruitment) done.

The important question in both scenarios is:  Who should we eliminate and who should stay?

The question can be answered by devising and using key criteria to evaluate and then choose the most relevant assessment method.

Assessment of employees is key in both Downsizing as well as Restructuring.  The Assessment Process has to be vigorous enough to identify the right employees to keep and lay off.  A broader assessment process ensures coverage of more aspects of a new role which in turn makes the assessment process fairer.  Measures, in this regard, may include:

  • Covering a broad range of competencies in the interview process rather than concentrating on a few specific competencies.
  • Using a mix of relevant performance data from the last role as well as some elements of future-oriented assessment, such as role plays or OPQs.
  • Taking input from Line managers.

Linkage of the entire assessment process to the requirements of the job is the crucial part of this phase.

As with any assessment system, the content and design will be settled through consideration of various factors, some practical like cost, logistics and some more about safeguarding the output like instrument validity.  When taking into account assessment tools for incorporation in the process it is beneficial to examine them against following criteria:

  • Coverage of range
  • Accuracy
  • Relevance
  • Freedom from bias
  • Acceptability
  • Practicality

The tools, based on the above criteria, help in various assessment methods that gather information on different aspects pertaining to the elements of the new roles.  The most widely used Assessment methods include:

  1. Existing Performance Management Data
  2. Line Manager Performance Ratings
  3. Competency Based / Behavioral Interviews
  4. Personality Measures (OPQ) Linked to Competencies
  5. Simulation Exercises
  6. Pertinent Employee Data

Let us examine the methods in a little more detail.

Existing Performance Management Data

There are various benefits of using this employee assessment method, such as:

  • No additional data gathering is required since the data is already in place.
  • Such existing data can be obtained speedily and effortlessly.
  • Existing performance data is perceived as pertinent.

There are some drawbacks associated with the existing Performance Management data method that executives should be mindful of:

  • The data is often inconsistent and may vary in quality.
  • Does not provide clear distinction between people.
  • Does not reflect behavior therefore difficult to base decisions on.
  • Usefulness depends on extent of overlap with the new role.

Such data although convenient and easy to obtain, has to be augmented from other sources—and through other assessment methods—for a complete picture to base the employee selection decision on.

Interested in learning more about Redeployment Assessment Process & Methods?  You can download an editable PowerPoint on Restructuring: Redeployment Assessment Process & Methods here on the Flevy documents marketplace.

Want to Achieve Excellence in Business Transformation?

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“If you don’t transform your company, you’re stuck.” – Ursula Burns, Chairperson and CEO of VEON; former Chairperson and CEO of Xerox

Business Transformation is the process of fundamentally changing the systems, processes, people, and technology across an entire organization, business unit, or corporate function with the intention of achieving significant improvements in Revenue Growth, Cost Reduction, and/or Customer Satisfaction.

Transformation is pervasive across industries, particularly during times of disruption, as we are witnessing now as a result of COVID-19. However, despite how common these large scale efforts are, research shows that about 75% of these initiatives fail.

Leverage our frameworks to increase your chances of a successful Transformation by following best practices and avoiding failure-causing “Transformation Traps.”

Learn about our Business Transformation Best Practice Frameworks here.

Do You Find Value in This Framework?

You can download in-depth presentations on this and hundreds of similar business frameworks from the FlevyPro Library.  FlevyPro is trusted and utilized by 1000s of management consultants and corporate executives.  Here’s what some have to say:

“My FlevyPro subscription provides me with the most popular frameworks and decks in demand in today’s market. They not only augment my existing consulting and coaching offerings and delivery, but also keep me abreast of the latest trends, inspire new products and service offerings for my practice, and educate me in a fraction of the time and money of other solutions. I strongly recommend FlevyPro to any consultant serious about success.”

– Bill Branson, Founder at Strategic Business Architects

“As a niche strategic consulting firm, Flevy and FlevyPro frameworks and documents are an on-going reference to help us structure our findings and recommendations to our clients as well as improve their clarity, strength, and visual power. For us, it is an invaluable resource to increase our impact and value.”

– David Coloma, Consulting Area Manager at Cynertia Consulting

“FlevyPro has been a brilliant resource for me, as an independent growth consultant, to access a vast knowledge bank of presentations to support my work with clients. In terms of RoI, the value I received from the very first presentation I downloaded paid for my subscription many times over! The quality of the decks available allows me to punch way above my weight – it’s like having the resources of a Big 4 consultancy at your fingertips at a microscopic fraction of the overhead.”

– Roderick Cameron, Founding Partner at SGFE Ltd

Stock Image 2 - Digital Facilitation PrimerIn the wake of global pandemics when meeting face to face is not possible, it’s about facilitating workshops digitally, designing a formal agenda, and utilizing digital tools to ensure a productive virtual meeting.  Digital Collaboration Platforms have been pivotal in the current scenario.

As a matter of fact, Digital Collaboration platforms have become a new norm and have forever transformed business work environment.  Digital Facilitation tools are extensively used by facilitators, Change Management consultants, Organizational Development practitioners, and learning professionals as a way to collaborate on workshops, events, change initiatives, and learning programs.

Digital Workshop Facilitation can be categorized into the following 3 major types:

  1. Virtual Facilitation

In this type of Digital Facilitation, a group collaborates remotely in real time but from different locations.  Common tools used are Zoom, GoToMeeting etc.

  1. Asynchronous Facilitation

In this facilitation method, a facilitator leads participants remotely at a different time and place. Common tools include Email, Slack etc.

  1. Face-to-Face Facilitation

In Face-to-Face facilitation, a facilitator interacts with a group of people in the same workshop space, in person.  Digital tools can be used in such a setup instead of flip charts and sticky notes.

The new scenario brings forth new challenges in workshop facilitation that necessitate robust principles, methods, and tools for the future work environment to run smoothly.  Understanding and adhering to the following best practices and principles in Digital Workshop Facilitation helps in attaining effective results just like face-to-face workshops:

  1. Specify well-defined guidelines and expectations.
  2. Form an assured environment to enable discourse.
  3. Ensure effective interaction before, during, and after a workshop.
  4. Ensure all voices are heard.
  5. Document the conversations.
  6. Alter the moderation approach based on the participants’ level of understanding.
  7. Seek comments and iterate.

Let us delve a little deeper into some of the principles:

1. Specify well-defined guidelines and expectations.

The remote nature of digital workshops limits the element of reacting to audience’s lack of attention.  This warrants clear instructions regarding ground rules, both in writing and orally to compensate for this disadvantage.  Participants need to use precise language in asking questions and answering them.

Instructions on technology and tools usage should be reiterated from time to time.

2. Form an assured environment to enable discourse.

Trusting participants in a virtual setting is difficult if you do not know them.  It is the digital facilitator’s job to create conversation security in different ways.  Spending time on icebreakers or other pre-engagement activities may ease the discomfort.  Providing quick and positive feedback to those who actively contribute encourages shy participants and creates a positive environment.  Informing the participants on how meetings are being documented and information on who has access to this documentation can reassure participants.

3. Ensure effective interaction before, during, and after a workshop.

Digital Facilitation platform can be used ahead of a meeting to help participants familiarize with each other, disseminate the agenda, initiate discussions, or obtain helpful information from the participants, such as questions, skill levels, ideas, etc.  Digital Collaboration Platform should be the center of post-workshop activities, e.g., sharing documents, closing agendas, answering additional queries, and extended discussions.

4. Ensure all voices are heard.

Digital Workshop tools can facilitate participation of people who in a traditional workshop setup will not be able to participate due to dominance by a few individuals.

Interested in learning more about the Digital Workshop Facilitation principles, methods, and tools? You can download an editable PowerPoint on Virtual Work Digital Facilitation (Primer) here on the Flevy documents marketplace.

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Change1

Transformation from a product-based model to a platform model is a dream for many executives.  More and more product companies are now shifting into a platform model.  The drive behind such a shift is the huge success of platform companies—e.g., Amazon, Google, and Apple.  These organizations started out as a retailer, search engine, and iPod manufacturer respectively, but later transformed into platform models.

However, bringing this transformative vision into reality is anything but straightforward.  Research into successful platform businesses reveals that this necessitates a robust approach comprising the following 4 critical phases:

  1. Attractive Product and Customer Base
  2. Hybrid Business Model
  3. Rapid Conversion
  4. Identify and Seize Opportunities

Let’s dive deeper into the first two phases of the approach, for now.

Attractive Product and Customer Base

A platform model is not a remedy to resuscitate products that are on a downward slide.  It necessitates an attractive product that offers a significant customer base and value to help improve customer loyalty and resist rival offerings.  The critical mass of customers also allows the platform company to create value for—and attract—third parties that are crucial for the platform to flourish.

Qihoo 360 Technology, a large internet firm in China, commenced its operations in 2006 by selling an antivirus software, 360 Safe Guard.  To build a broad user base and to gather customers’ feedback on improving the product, the company started giving away the product free.  The company maintained a list of malware as well as a “whitelist” of programs that were safe for the users.  The critical mass of customers allowed Qihoo to:

  • Quickly identify viruses on scanning computers
  • Improve the antivirus
  • Introduce new products
  • Attract new customers
  • Create new platforms
  • Attract 3rd-party software companies to make Qihoo a channel for reaching customers.

Hybrid Business Model

The notion that an organization has to embrace either a product-based or a platform-based business model is far from reality.  Although, both the product-based and platform-based business models need a framework to assign dedicated resources and manage operations, however, Business Transformation from a product-based model to a platform-based model gets simplified utilizing a hybrid approach.  A product-based business model calls for organizations to have differentiated products catering to customers’ needs, to create value.  Whereas, a platform-based business model creates value by linking users to 3rd parties and charging fees for using the platform.  The focus of Platform models is on:

  • Inspiring mass-market acceptance
  • Increasing the number of interactions rather than meeting specific customer needs
  • Connecting users and 3rd parties to create competitive edge instead of relying solely on product differentiation (product model).

For example, Apple converted itself from a product model to a platform model within a year after the launch of the first iPhone.  Initially, Apple reacted defensively to any hacking attempts and precluded 3rd party apps on the iPhone, but then decided to create an open platform, and launched the App Store.  The hybrid model and platform mindset created additional income streams and significant revenue for Apple.

Rapid Conversion

To make a product and business model profitable, the conversion of product users into platform users is of utmost importance.  To enable this, an organization needs to develop its platform in such a way that it should present enough additional value for the customers to adopt it and become its users.  Three key elements are critical to accomplish this:

  • Deliver adequate value
  • Launch connected products consistent with the brand
  • Allow 3rd parties to perform upgrades

If the platform does not offer adequate value for the customers they are not going to embrace it the way they do to a great product.  Similarly, addition of new offerings that are coherent with the brand has a strong correlation with new platform adoption.  New offerings gain traction from a firm’s image and strengthen the brand further.  Likewise, allowing 3rd parties to make upgrades, improve product offerings, and develop the platform further helps in rapid conversion, additional revenue, and growth.

Interested in learning more about the phases of the approach to Products-to-Platforms Transformation?  You can download an editable PowerPoint on Products to Platforms Transformation here on the Flevy documents marketplace.

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