Soaham Datta Vikas Pullela Leading Kaustabh Pranay Mondal Change Saket Shakti Why Transformation Efforts Fail Common Pitfalls Positive Initiatives
Well over 50% companies Hard look at the
fail at this level companys - Competitive position Error 1 No When 75% of the
Market position technological trends sense of companys management is convinced that business as usual is totally financial performance urgency unacceptable Communicate crises, potential crises and great opportunities broadly and very dramatically Common Pitfalls Positive Initiatives
Companies that fail in this
level usually Rule of thumb: If you cant communicate Error 2 No underestimate the difficulties of producing the vision to someone in five minutes or less and Powerful change get a reaction that signifies both Coalition The opposition may understanding and gather itself and stop the interest, you are not done change if coalition of top with this phase of the leaders isnt strong enough transformation process. Common Pitfalls Positive Initiatives
Develop a vision that is
relatively easy to Rule of thumb: If you cant communicate Error 3 communicate the vision to someone in five minutes or less and Lacking a Without a sensible vision, transformation can get a reaction that signifies both Vision dissolve into confusing understanding and projects interest, you are not done with this phase of the transformation process. Common Pitfalls Positive Initiatives
Not having an impactful Executives use all existing Error 4
communication with the organization about the new plan communication channels to broadcast the vision Under- Only speeches fail to bring Executive walk the talk communicating out same energy in the workforce Executives communicate the vision importance of the vision day- Company employees are to-day activities like discouraged when senior appraisals etc executives dont walk the talk Obstacles can be in Some of the reasons the form why a company fails
An unconvinced The company had no
divisional chief history of confronting problems like these Error 5 Organizational structure that doesnt allow Some people were afraid Removing increased productivity of the officer who acting against the directives obstacles Misaligned compensation structure The top management was concerned that they might lose a talented executive Positive Common pitfalls initiatives No compelling evidence Managers obtain clear of change/success in 12 to 24 months performance improvements Error 6 Not planning short Ambiguous results Establish goals in the yearly planning system term wins Achieve the objectives
Reward the people
involved Positive Common pitfalls initiatives New processes are fragile and subject to In a successful transformation Error 7 regression Managers obtain clear Declaring A premature victory performance celebration kills improvements victory too momentum Establish goals in the yearly planning system soon Achieve the objectives Reward the people involved Positive Common pitfalls initiatives Until new behaviors are Two most important rooted in social norms factors - and shared values, they are subject to Conscious attempt to Error 8 Not show the new degradation as soon as the pressure for change is approaches have Anchoring helped improve removed performance changes Taking time to ensure that next generation of top management personifies the new approach Thank you.