Making Change Stick
About half of the 223 executives who responded to a recent Bain & Company survey on organizational issues said their companies fell short on the essential capabilities necessary for a turnaround. But some companies do beat the average and bring about sustained improvement. When we studied 21 of the most impressive transformations of recent years, we found four principles underlying success.
Content: Article | Authors: Chris Harrop, Paul Rogers, Stan Pace | Sources: Bain & Company, INSEAD Quarterly | Subject: Change Management
Rip the Band-Aid Off Quickly
Too often, management teams that face the daunting challenge of corporate transformation don’t move far enough, fast enough, or broadly enough to truly reposition their businesses. Instead, they implement half-cures that can be worse than the disease: round after round of restructuring, strategic redirection, or layoffs, none of them sufficient to heal the wounds. Author Stan Pace uses powerful examples to show that the companies … [ Read more ]
Content: Article | Author: Stan Pace | Source: Bain & Company | Subjects: Change Management, Strategy