Bain Shares How Engagement and Execution Is Essential to Success
In this turbulent business environment, many organizations are faced with undergoing a business transformation. Would it surprise you to know that engagement trumps strategy in successful transformations? A recent study of more than 400 companies found:
Most successful executive teams overwhelmingly identified the ability to effectively engage their organizations as the No. 1 factor to success—50% higher than any other factor including clarity of strategic direction.
Strategic direction is still critical—Necessary but not sufficient for success. A smart competitive strategy is the requirement for entry.
A transformation is twice as likely to achieve its goal when engagement is effective and started early.
Two traps to avoid:
Treating engagement as a communication issue only.
Taking a sequential approach and only starting the engagement once everything is aligned at the top.
Organizations must become more agile by developing new capabilities and processes faster than before.
We can learn from those that have succeeded and, while each industry has its unique turbulence to navigate, these lessons are universal. Engagement requires not only communication but action, strategic action to optimize the new business.
I am reminded of a quote from Peter Drucker, often called the father of management thinking: “The greatest danger in turbulence is not the turbulence – it is to act with yesterday’s logic.”
Source: Bain & Company
Kure provides you a new logic to engage the organization and work collaboratively for a successful transformation. Engage in your transformation today.
