Success of Change
•A Towers Watson 2013 survey indicated that only 25% of changes are successful in the long term.
•Accenture study of CEO’s ▫50% do not believe their culture is adaptive
enough to respond positively to change. ▫44% aren’t sure their workforces are
prepared to adapt to and manage change through periods of economic uncertainty.
Need for Change - Five W’s
•What are we trying to solve? Aka Problem Statement
•Why is this important? •Who needs to drive the change? •When do we need to do this? Are there
milestones we can measure? •Where does this change need to happen?
Corvesta’s Story
•Our business strategy changed from focus on a single state single line of business to a national company with multiple product lines, multiple target customer groups
•Problem - ▫Workforce, Leadership and Culture have not
been addressed as key components of this change.
▫IT Systems and Processes have not changed to support the new strategy.
Pathway to Change
•Ensure the leadership understands and will actively support the change
•Assess the current state and identify what needs to change
•Design the change for the right reasons •Communicate, communicate,
communicate•Validate what works and what hasn’t and
adjust
5 Suggestions to Increase Odds •Change Goals Must be Realistic•Rolled-up-Sleeves CEO involvement•Senior management has to walk the talk,
not talk the walk•Middle managers and supervisors need to
know in their bones the reasons for the change
•Organization must be in it for the long haul
Corvesta’s Lessons Learned
•Change Done Well is (Really) Hard•Pay Attention to People & Culture•Be Prepared to Pivot /Be Adaptable•Listen•Keep Your Eye on the Prize•You Will Make Mistakes
•Be Courageous
Tactical Steps •Provide opportunities for employees to
express their resistance without fear.•Keep the change desired up front
especially in stressful situations. •Hire the change you want.•Command Versus Consensus
▫Build consensus where it’s necessary. ▫Or Loyal Opposition/ Unity of Command.
More Tactical Steps •Reward those who embrace the change. •Don’t tolerate those who will not change.
Pivoting – What is it?
Strategy is Choice
Playing to Win
Getting Oriented
Storytelling
Lean Thinking and Testing
Pivoting to win
A pivot is A strategic hypothesis“A special kind of structured change designed to test a new fundamental hypothesis about the product, business model, or engine of growth.”
Lean Startup, pg. 178
Why change?
- You Are losing revenue- You are losing key talent- Your industry has been disrupted- Black Swan Event- Something equally awful
Things have become unsustainably wrong
Listen to your pain - Modea’s “from”
(June 2013)‣Never set a clear vision for the company, instead pursued what the advertising industry told us was great--being a full-service shop‣Attempted far too many strategic plans with countless initiatives failing before they were finished‣Expanded our capabilities / service offering beyond our agency size and experience‣Not purposeful in the projects and client work we pursued, leading us to continually do projects for the first time, every time.' ‣Let our career development process lapse when business conditions grew tough‣Did not structure the business to properly empower the leaders that we put in place
Startup thinking –good for changing grownup companies
A startup:Discovers a customerFinds a business model
A ReStartup: ReDIscovers and reactivates customers
Redefines product, service, and Business models
Apply rigor to your thinkingStrategic choice Cascade‣ Developed by P&G and the Monitor Corporation‣ Quick top level view of the cascade and how it works.
4. Use your vision to Think Narratively
Tell the story of your…new productnew serviceNew CompanyWhat Must Be true?
Genius Steals: The books we Read‣ Lean Startup
‑ The idea of the testable hypothesis, and a cadence for leaning and pivoting‣ Playing To Win
‑ A powerful framework for asking the right questions and getting focused‣ Understanding Michael Porter
‑ Getting to the fundamentals of where value creation comes from‣ Good Strategy, Bad Strategy
‑ One of the most clear-eyed books on what makes a “real” strategy, the key to change
CHANGE CHEAT SHEET:Strategy is Choice
Change requires a “from” and “to.” Get both.
Ruthless self-inquiry is the heart of change
The truth is outside your office, with your customer. Seek it
Fail early, test frequently, iterate continuously
Think narratively – what must be true? Then make it so.
If you are not playing to win, you’re just playing around.
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