The failure to achieve desired results is not new, of course, but it has become a major challenge for leaders who are at the helm under increased pressure. Facing such odds, leaders often pursue sweeping transformational change that will give their companies a competitive edge, boost performance and ensure their own future in the value chain. But the odds of implementing a successful change —whether it’s a broad-ranging efficiency initiative or a shift in strategic focus is low if there is no proper assessments of core competencies of the firm and a realistic assessment of the expansion is overlooked.
Five guiding principles can help an organization to predict outcomes and deliver results.
- Balance ambition. Articulating a clear and compelling vision as to where a firm is heading needs to be assessed, but with a realistic outlook. Senior investors need to be brought on board on the vision and future prospects. There needs to be a clear understanding as to how disruptive the change is going to be and it is critical to balance the ambition with the organization’s capacity to absorb that change.
- Mobilize leaders. Change management with a clearly defined roles needs to be in place to build a healthy Sponsorship Spine and build solid engagement plans to enroll people to deliver the desired outcomes.
- Change behaviors. Identify the few critical behaviors required to drive results; shift and reinforce behaviors by changing consequences and measuring progress.
- Shape execution. Shorten the time for goal realization with a decision drumbeat that plans, tracks and measures progress and mitigates ongoing implementation risks.
- Extend success. Create a new source of sustainable competitive advantage by investing in new capabilities that build a repeatable model for change. Build muscles that endure and get stronger through each cycle of change.