https://www.mckinsey.com/capabilities/transformation/our-insights/how-bold-is-your-business-transformation-a-new-way-to-measure-progress
McKinsey’s research on corporate resilience shows that uncertain times call for leaders and companies to aggressively pursue the upside while also managing the downside. Successful leaders are transforming their businesses to meet this moment, going beyond cost cutting or updating the core business to reinvent the entire organization. This means not only improving financial performance but also focusing on customer experience, employee satisfaction, and positive societal impact.
However, years of McKinsey analysis reveal that successful transformations are difficult to pull off; in fact, a majority of them fail. Of those that do succeed, a tiny percentage deliver multiple times the value of median performers more quickly and sustain profitable growth over the long term. These fall into a class we call “transformative” transformations.
McKinsey’s research on corporate resilience shows that uncertain times call for leaders and companies to aggressively pursue the upside while also managing the downside. Successful leaders are transforming their businesses to meet this moment, going beyond cost cutting or updating the core business to reinvent the entire organization. This means not only improving financial performance but also focusing on customer experience, employee satisfaction, and positive societal impact.
However, years of McKinsey analysis reveal that successful transformations are difficult to pull off; in fact, a majority of them fail. Of those that do succeed, a tiny percentage deliver multiple times the value of median performers more quickly and sustain profitable growth over the long term. These fall into a class we call “transformative” transformations.