Full article with thanks to: sloanreview.mit.edu/article/rethinking-governance-for-digital-innovation Rapid, iterative, customer-centric innovation is possible in large companies — but not if you carry over your traditional ways of working. Innovative ventures need innovative governance. When global chemical company BASF launched its Onono lab in São Paulo, Brazil, its mission was to accelerate innovation through rapid collaboration with local partners and startups. But …
Unlocking the Power of Digital Hives: How Online Communities Drive Organisational Change
Full article with thanks to: mckinsey.com/capabilities/people-and-organizational-performance/our-insights/digital-hives-creating-a-surge-around-change New lessons are emerging for executives striving to harness the power of social media in the cause of wider employee participation. Clearly, there’s more to success than just investing heavily in the latest Enterprise 2.0 technology platforms. Large-scale engagement of the workforce requires, first and foremost, a firm grasp of organisational culture and its social …
Change is About People: First, Last, Always
Full article with thanks to: cio.com/article/306342/10-hard-truths-of-change-management.html For IT, change is constant — so too is the need to assess, address, and reinforce your organisation’s ability to adapt and transform. The days of one-off change management initiatives are over. Rather than tackle organisational change management with an end in mind, IT leaders and their organisations must now exist in an environment …
Driving Innovation: The Crucial Role of Business Process Management (BPA)
Full article with thanks to: forbes.com/sites/rogertrapp/2023/06/05/management-of-the-process-is-at-the-heart-of-innovation-success Innovation is — as they say — like motherhood and apple pie; by general agreement, it is a good thing. And, true to this view, few businesses do not aim to be innovative, even if they do not openly claim to be so. It might seem odd then that companies seem to be so …
Adapting to the Unchangeable: Strategies for Embracing Transformative Change in Business
The breakneck pace of AI development, new use case applications for peer-to-peer connectivity and the ease or availability of mediums through which you can reach to market and engage with your target audience are unlike any other time in the documented human history—but does this mean the survival in this ever-changing landscape is only for the deliverer of these tech …
Unlocking Success: How Small Businesses Can Master Digital Transformation
Digital transformation is a hot topic today, but what does it mean for small businesses? Eric Lamarre, Kate Smaje, and Rodney Zemmel, senior partners from global management consulting firm McKinsey, have a book coming out in June that addresses how companies “can build and flex their muscle by leveraging the power of AI, enhancing customer experience, and driving profitability through …
The Power of Retrospectives: Essential Tools for Effective Change Management
Full article with thanks to: forbes.com/sites/forbesbooksauthors/2023/06/22/why-retrospectives-should-be-in-every-managers-toolkit In the arts, a retrospective is a career review. One might take in the Andy Warhol retrospective at MoMA or the Stanley Kubrick retrospective downtown. In business, a retrospective is also a sort of review, but with the focus on assessing progress and problems and determining next steps. It’s been standard practice in software …
The Human Side of Change Management: Unveiling the Power of Getting Personal
Full article with thanks to: mckinsey.com/capabilities/people-and-organizational-performance/our-insights/getting-personal-about-change Asurefire way to shoot yourself in the foot when you’re leading a large-scale change effort is to ignore what’s on the minds of your employees. In research we conducted for our recently published book, Beyond Performance 2.0 (John Wiley & Sons, July 2019), we found that executives at exactly zero companies that disregarded an analysis of employee …
Digital Transformation Debunking: the 5 Biggest Myths That You Need to Know
Full article with thanks to: forbes.com/sites/bernardmarr/2023/06/13/the-5-biggest-misconceptions-about-digital-transformation If you’re interested in business and technology, I’m sure you’ve come across the term “digital transformation” quite a lot in recent years. The basic take is that it’s about leveraging the latest emerging technology trends – perhaps artificial intelligence (AI) or the Internet of Things (IoT) in order to do business more effectively. That …
The Four Building Blocks of Change Management according to McKinsey
Full article with thanks to: www.mckinsey.com/capabilities/people-and-organizational-performance/our-insights/the-four-building-blocks–of-change Four key actions influence employee mind-sets and behaviour. Here’s why they matter. Large-scale organisational change has always been difficult, and there’s no shortage of research showing that a majority of transformations continue to fail. Today’s dynamic environment adds an extra level of urgency and complexity. Companies must increasingly react to sudden shifts in the marketplace, …
Generative AI Enhances Customer Service Jobs, Not Erases Them
Full article with thanks to: https://hbr.org/2023/03/generative-ai-will-enhance-not-erase-customer-service-jobs The potential for generative AI like ChatGPT to disrupt how humans interact with computers, change how information is retrieved, and transform jobs across industries has left a lot of company leaders scratching their heads. As with other breakthroughs in AI, ChatGPT and similar large language models (LLMs) raise big questions about their impact on jobs and …
Mergers & Acquisitions: The Secrets to Success
Full article with thanks to: forbes.com/sites/forbesbusinesscouncil/2022/05/27/mergers–acquisitions-the-secrets-to-success/?sh=2da3cf6456bd Mergers and acquisitions (M&As) are all the buzz right now with the likes of Amazon and Google making headlines for their big business deals. In 2021, global M&A volumes reached $5.9 trillion—a record high with a 64% increase from 2020. Technology, financials, industrials and energy and power accounted for the bulk of those deals. But, …
Four “Must-haves” to Unstick Your Change Programme
Full article with thanks to: forbes.com/sites/forbescoachescouncil/2022/02/09/no-urgency-no-champion-no-change-four-must-haves-to-drive-organizational-change/?sh=3af6321b2150 Recently, I was speaking with a colleague about one of his clients. He was relaying a story about key customer-facing initiatives, many years in development, that were languishing in his client’s organization. While some elements had been activated, the entirety of the scope had not been realized. These next-level initiatives were planned to improve …
What You Need to Know About Digital Transformation
Full article with thanks to: innopharmaeducation.com/news/digital-transformation-guide—what-is-it-and-the-4-main-areas Our world is becoming increasingly digital. From governments to education, industries across the board are consistently digitalising more and more, and those who don’t can find themselves lagging behind. Digital Transformation You may have heard the term ‘digital transformation’ in the past, whether in job titles or business presentations, but what exactly is it? …
How to Manage a Crisis in 2022
Full article with thanks to: forbes.com/sites/edwardsegal/2021/12/13/8-ways-companies-could-change-how-they-manage-a-crisis-in-2022/?sh=3dbfd96651dd Taking a cue from Winston Churchill’s observation that, “Generals are always prepared to fight the last war,” business leaders should make a reality about their plans to prevent or manage a crisis at their company or organisation in the new year: Will they be prepared to respond to their next crisis—or their last one? How company executives answer …