Unless you have been living under a rock, you will know that these days, transformational leadership is an absolute necessity for companies that want to be around in five to ten years from now. You might have heard at least some of the tales that tell the stories of corporate carnage that has littered the last two decades. Some unlucky leaders have even found themselves contributing to the statistics which delivered the sobering news that four out of ten Fortune 500 companies in 2000, had crashed and burned by 2010.
Leaders To Walk The Transformation Talk
You are probably aware that leaders everywhere now talk about transformation, and perhaps you will agree that most of them, have the best of intentions. But a number of studies reveal that many leaders know that they don’t have the capability inside their business, to successfully transform strategy into reality. And did you know that at least 70% of leaders fail to achieve all of the objectives in their business transformation programmes? – which might leave you wondering, “what’s going on?”
The talk about achieving great things is not always being followed up with such a confident walk, as you hear of yet more transformation leaders stumbling along their roadmaps and delivering considerably less than the success stories that stakeholders were expecting.
So while you might hear many leaders talking about transformation, why do you think they aren’t getting it right?
Elusive Capability and Methodology
If you imagine an expedition, sailing, football, or any other team, you probably don’t have to think too hard to realise that despite a vision of what they want to achieve, and a passion to achieve it, the teams that don’t make it, simply lack the right capabilities and approach. This is not rocket science; it’s simply about having who and what it takes to transform a vision into reality; and perhaps you will agree that companies are often no different.
You will be forgiven for thinking that business transformation management is often undertaken in quite a random manner, and you might have noticed that leaders and managers have had no proven business transformation management methodology at their disposal. So they have done what they “think” is right and some have even documented their own transformation approaches. You also cannot escape the abundance of leaders who still believe that business transformation is just a matter of creating a strategy and launching a series of IT projects, with perhaps some change management thrown in for good measure.
In 2012, the Business Transformation Academy (BTA) in Switzerland released the Business Transformation Management Methodology (BTM²), and although there are currently only around 200 certified Global Business Transformation Managers (GBTM) in the world, at least the business transformation profession has commenced the journey that the project management profession set off on decades ago. Holistic Business Transformation finally has its own common approach and language, that business transformation practitioners can share, and fill the gap that is costing most companies a small fortune, if not their survival.
Perhaps you are aware that Early Adopters of BTM² include the likes of SAP, Vodafone, Samsung, LG, and other global players. Of course you can guess that the Early Majority, Late Majority and Laggards will follow in their own time – but for some it will be too late.
Leaders Must Engage Transformation Experts
You might have read here that many leaders are admitting their current struggle to undertake successful business transformation initiatives. The simple solution is for them to turn to Business Transformation experts who are equipped with a fine blend of experience and expertise in a proven business transformation methodology. This is what will provide leaders with the skills, attributes and capabilities, which are essential to transformation success.
You will find that these transformation experts act as trusted advisors to transformation leaders, providing expertise in each of the following key management disciplines, which are required in a business transformation:
- Meta Management (orchestration of disciplines below – leadership, guidelines)
- Strategy Management
- Value Management
- Risk Management
- Project / Programme Management
- Business Process Management
- IT Management
- Training and Competence Management
- Organisational Change Management
The Cover Up
You cannot expect to establish the right transformation strategy, and successfully execute that winning strategy, if you do not have highly capable business transformation managers, who can bring proven transformation approaches into your business.
If you spend more time and money than agreed, and realise less value than originally planned, you are essentially faking a true transformation success. Every day you can hear politicians attempting to cover up their failed efforts to deliver what was promised – justifying their missed targets. Similarly, if as a leader you attempt to cover up failed transformations with corporate spin, while it might cut it with some staff, CEOs, Boards and other senior stakeholders can usually see the reality.
The Simple Solution For Leaders
As you might be aware, certified and experienced business transformation managers are in short-supply, and so as a leader, you will sometimes struggle to employ the right capability at the right time. So your next best option is to engage an external business transformation management consultant who will be sensibly over-qualified with a wealth of skills, attributes and capabilities, that can help guide you through every step of your journey.
Your operational leadership and management expertise to keep the lights on is fundamental to traditional business-as-usual, but if you wish be known as a transformational leader, you need to be supported with business transformation expertise, which requires a very different set of skills, attributes and capabilities.
And let’s face it, the “new business-as-usual” involves ongoing transformation, so you can no longer escape the need for business transformation management capabilities, processes and tools.
What Next For Leaders?
- How are you changing your operating model to enable better execution of strategy?
- What tests will your strategies undergo before embarking on their execution?
- Where will your business transformation management capability come from?
- What will you do differently to the companies that will not survive beyond 2020?
- What holistic business transformation methodology will your company adopt?
One final sobering question for you to consider is; “how many of the Fortune 500 companies of 2010, do you think will still be around in 6 years from now?”