Leadership & Business Transformation

 The business environment is changing and companies need to adjust not only their vision and plans, but also the structure of the business processes.

The rapid development of information technology in the recent years has changed organizations dramatically. The use of technologies is much more intensive. In today's reality, more and more processes are knowledge-based and this has a specific implications for most of the companies. Combines with new business trends, it requires a rethinking process which generates transformation.

Some companies are faster than others, in terms of changing or fine tuning processes. Regardless of the size, companies must change and adapt to the ever changing reality in order to survive.  It is true not only for start-up companies, but also for big corporations. Take a look at the top 50 companies in the NASDAQ index. See how many corporations managed to stay on the top of the list in the last decades.

Management in general and business leaders in particular are expected to be the change agents.  They are accountable and should become the change catalysts. It means that leaders should re-align (if and when required) basic values, attitudes and business assumptions. Mega trends are also very important and need to be discussed accordingly. Business transformation is more than an enhanced strategic plan, as one may think. It is a strategic organization change plan.  Vision, mission and strategies are all taken into consideration.

In some cases it is possible that such process may affect not only the structure bus also the culture of the company. The one thing that will not change is the focus on the existing and potential customers.

The outcome of the transformation discussions and preparation work should be a solid plan. Then it should be executed decisively. It is not always the easiest thing to do (like any other change) but in most cases it is a must.

At the end of the transformation process the company should be able to move forward from the past state to the future state. Implemented properly, the outcome should be significant improvement in business procedures, system capabilities and eventually better business performance.  It is more likely that a more flexible, adaptive and responsive organization will prosper these days. 

Good strategy is not enough; commitment and decisive execution are required as well.

During the last quarter in the last few years, I was very busy preparing strategic plans with my great team. We have invested heavily in preparations, discussions and finally in decisions. The planning process was creative, positive and dynamic as individual strengths and teamwork blended into solid plans.

The ability of team members to enroll into a real “thinking together” mode is the essence of strategic dialogue in its true sense. The outcome is a strong plan with full consensus in regards to what we are going to do in the forthcoming year.

Achieving a consensus is very significant because it implies that the entire team is synchronized and committed to the plans.

Strategic plans, detailed and professional as they may be, needs to be executed properly. Just getting it ready, on time, is not enough. I would not be cynical if I will say that there is "graveyard" full of former companies with very good plans and intentions…

Once the plan is clarified and has been agreed it is time for implementation. With the right committed people it could be fully accomplished. This is one of the main success factors.
I would say that the future of global corporations relays not only on the right strategic plans, but also on people and their abilities to implement.

"Plans are only good intentions unless they immediately degenerate into hard work." -Peter Drucker