Social, political, economic, environmental and technological trends and disruptive upheavals have profound effects on markets, customer behavior, business models and production conditions. Change is the "new normal" for many companies.
Examples of such upheavals include:
The strategic, structural, and cultural adaptability of your company and your employees is the decisive factor in securing your own financial prosperity and competitiveness today and in the future. This requires a holistic view of the company and a plan for fundamental renewal. We call this Corporate Transformation.
In times of disruptive change in almost all markets, corporate transformation is becoming the supreme discipline for CxOs. Individual projects are being replaced by the forward-looking, holistic restructuring of your company. Corporate transformation thus goes far beyond incremental changes and prepares your company holistically for future challenges - even if, from a results perspective, there seems to be no need for it today.
We know from our experience: For such dynamic and cross-functional transformations, three strategic imperatives should guide the CxO's actions.
Learn more in our video "Corporate Transformation - CEO Insights", in which Mark Garrett (Chairman of the Supervisory Board of OMV AG), Stefan Bisterfeld (CEO of COMECO GmbH & Co. KG), Dr. Harald Marquardt (CEO of the Marquardt Group) and Dr. Niels Pörksen (CEO of Südzucker AG), give us insights into the transformations of their companies.
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Today’s business influences the (financial) scope of your future business. By fundamentally optimizing and restructuring your current business and your organization (e.g. through M&A activities), you secure its future viability. Being aware of the need for transformation, even with current successes, is a prerequisite for your continued success.
The general conditions and success factors of the markets are changing profoundly and new markets are emerging. Ecosystems and platforms are becoming increasingly important. That's why you should fundamentally question and revise your business model. This requires a consistent strategy that also includes clear concepts for the future and innovation.
Optimizing today’s business model and developing future business – both can only be achieved with the right empowerment of structures, processes, (digital) technologies, employees, skills and new forms of collaboration (operation, people and change). Here, too, it is important to think about the future today, because it is with this empowerment that great efforts, investments and time requirements are often associated.
In our consulting practice, these factors have emerged as critical to success:
Corporate Transformation needs a "transformative idea" that combines and describes the reason why together with a tangible, inspiring vision for the future. It sets the framework and is at the beginning of every successful transformation. Developing this is the CXO-team’s core task
Corporate Transformation requires commitment. Only when top management bears the need for change and the resulting consequences and objectives, will it be possible to profoundly change the entire company.
Corporate Transformation is comprehensive. Strategic, financial and operational needs for action must be taken into account across all areas and functions and interlinked to ensure that the transformation can succeed overall. Corporate Transformation is the joint task of the entire management team.
Corporate Transformation needs an appropriate speed. Profound change creates uncertainty. The longer it lasts, the greater the risk of paralysis and resistance. For this reason, concepts must be developed quickly along the transformation journey and implemented in a consistent and agile manner - without overwhelming the organization.
Corporate Transformation is a matter of attitude. It requires persuasion and perseverance. Proven attitudes and behaviors are not wrong per se but must be adequately developed.
Corporate Transformation must be supported by further developing the corporate culture with target-group-oriented communication and change architecture. Understanding the need and motivation for change, building new competencies, creating role models and activation are key enablers for a successful transformation.
The way we design and implement transformation processes sets us apart. With a deep understanding of the industry and a high level of strategic and functional expertise, we develop tailor-made future solutions for our customers. We implement these in trusting cooperation from the C level to the employee level with a distinct hands-on mentality and focus on performance - and consequently ensure sustainable transformation success.
