In today’s world marked by change and disruption technology, companies need to generate new opportunities to continue creating value, drive growth and improve efficiency. In this scenario, it is only possible to achieve it by betting on transformation and innovation; that is, reconsidering at all times the creation of value by the organization, now and in the future.
Competitiveness is increasingly complex. Until a few years ago, an incremental improvement was enough to maintain positions, or even to reach new heights of success. But the power of innovation, technological disruption and digital transformation requires exponential value creation, sustained growth and agile reinvention. And this can be valid for today; but what about tomorrow or the day after?
The following keys to transform a company allow to do it in an effective way, so that the organization manages to prosper in changing scenarios, generating opportunities without compromising the viability of the company.
1. Strategy
Having a solid strategy allows decision making consequently, and therefore, it is possible to base the transformation on the strategic objectives, in a realistic way. Thanks to the strategy, the organization can know how to create value; and that knowledge must be at the core of the transformative ambition.
Thus, it is essential that the company’s strategy be clear and that it has the consensus of the organization’s key people, allowing it to align its activities and tasks with the strategic vision. The objective is that the transformation strategy is based on the capacity of the organization itself to achieve the expected results.
2. Leadership
Only a small part of the organization’s capabilities play a critical role in competing and differentiating; so it’s key to focus on those critical capabilities to generate maximum value. To detect them, focus on them and prioritize, leaders are needed so they can focus on it.
Transformation leaders have a holistic image that allows them to build a discipline to constantly evolve. In this way, they can be prepared for disruption and seek new trajectories in a more agile way.
3. Value creation
A fundamental capability of leadership is the focus on value creation. Transformation leaders study the value to be achieved before beginning the transformation process. For this reason, they dedicate part of their day to monitor, measure and look for alternative paths; some processes in which Business Intelligence is an invaluable help.
Value links business strategy to transformation, and the better it is defined, the more easily connections and execution plans can be created. A good practice is break the process into smaller initiatives, more manageable, that together allow us to reach the objective. Each of these milestones must also be focused on creating value, so that the aggregate is exponential.
4. Sustainability
It is important to extend the value beyond the transformation, to make it endure over time. To that end, skills, competencies and culture need to be put in place appropriately, through an analytical and measurable approach.
People who exercise leadership must identify, involve and train other leaders so that more profiles base their actions on the analysis and align with the ambition of business transformation.
5. Agility and flexibility
An environment in continuous evolution requires companies and leaders prepared to evolve. To do this, we must work on the integration of agility, innovation and a disruptive mentality in each initiative.
The values of agility and flexibility allow to obtain results in a faster way; but above all, they allow manage complexity and unpredictability. Leaders must design the business taking into account that the results may vary, and therefore, alternative market scenarios and the evolution of technologies must be taken into account.
6. Talent
Talent is, along with leadership, the main cause of success or failure of business transformation. A leader must have influence and credibility to motivate the best talent; and for this reason, it is important that transformative leadership is dedicated to transformation, instead of opting for profiles that assume leadership having to combine it with their regular work.
Nor should the need to invest in talent to improve their performance and dedication, promoting the connection and redistribution of it to support growth throughout the organization.