risks to successful enterprise transformations and how to solve them

​Leaders struggle to keep up in a world that demands more profound and faster transformations. Meanwhile, they need to focus on the foundational elements of outcomes. A leader's ability to simplify their approach to transformations may be the key to improving outcomes. The five risks to successful enterprise transformations are:

1. Lack of vision
​It is critical to have a clear vision of how the transformation will occur to ensure that every activity creates value. Providing stakeholders with the vision, value drivers, and roadmap can help them understand how they can contribute to the transformation's success.

2. Lack of focus on talent
To transform effectively, it is necessary to develop the right talent. Formal recruitment, development, and retention strategy are needed to ensure that the required talent will believe in and be able to carry out the transformation.

3. Lack of focus on value
A mismatch between actions taken and transformation outcomes sought can prevent success when long-term value remains an aspirational goal. A well-defined business case will inform you when to start, stop, or advance your business or project.

4. No clear governance
Lack of clear governance can adversely affect decision-making and, thus, success in transformation. Complex companies can reach a decision by bringing all the stakeholders together. Data transparency can accelerate those decisions and improve time to value.

​Three key takeaways for successful transformation:

1. A well-articulated vision
2. A permanent transformation office
3. A chief transformation officer

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The information contained in this blog is general in nature. If you are unsure how this applies to you, please contact us at VeiraMal Consulting. Our consultants will be happy to guide you through this.