Transformation: The Imperative to Change

Transformation: The Imperative to Change

          
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Transformation: The Imperative to Change

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  • Ahead of the Curve

    Transformation
    Across almost all sectors and regions, companies face unprecedented disruption. The competitive advantages that once gave companies a defensible position—their product lineup, scale, or legacy position—are no longer as secure as they were. Some upstart with a newer and more agile operating model will start taking market share—if it hasn’t already.

    In the face of this volatility and complexity, most businesses must transform, meaning a comprehensive change in strategy, operating model, organization, people, and processes. More than ever before, transformation is an imperative. In fact, forward-thinking companies are launching preemptive transformations while they still hold a dominant market position, retooling themselves to stay ahead. The hard reality, however, is that many transformations fail. Some 75 percent fall short of their targets—in terms of value generated, timing, or both.

    The Boston Consulting Group, through work with clients in transformation efforts around the world, has developed an approach that flips the odds in a company’s favor. This report is an effort to give transformation leaders the tools and approaches to lead a successful and sustainable transformation effort. (Our transformation approach is illustrated In "Five Case Studies of Transformation Excellence," which describes concrete actions taken in transformations across industries and regions.)

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