At Keogh, we view businesses as ecosystems, a complex network of interconnecting parts. These parts include people, technology, processes, and systems inside the organisation interacting and connecting with one another and the external environment. Ecosystems by their very nature need to constantly adapt and transform to survive and flourish.
Ensuring sustainability and high performance through Strategy, Culture and Capability
Why business transformation?
A significant change in the business’s environment
A business transformation usually happens in response to or in anticipation of significant changes in the business’s environment – this could be a significant technological change, changes to the business’s customer base, a merger or acquisition, a new CEO or Board, or even legislative changes.
Change in business structure or growth
Transformation can happen at many points in an organisation’s lifecycle. It may be required when a start-up shifts to a fully-fledged operational business, or when an organisation spins off a new business. Often organisations that are struggling to thrive and survive to embark on a turnaround transformation journey.
To enable long-term sustainable success
Organisations at peak performance can also employ the process, in anticipation of future disruption and ensure long-term sustainable success. Keogh has experience in successfully supporting all these types of transformations.
Frequently Asked Questions
1. What does business transformation mean?
“Transform: to change completely in form or function.” The Collins Dictionary
A business transformation usually happens in response to or in anticipation of significant changes in the business’s environment – this could be a significant technological change, changes to the business’s customer base, a merger or acquisition, or even legislative changes.
Sometimes a new CEO triggers a business transformation, which is a dynamic process that optimises the interaction of all elements of the business and its people.
2. What does business transformation involve?
Transformation is a process designed to constructively disrupt the way a business thinks, behaves and operates – it is not simply improving the status quo. It lays out a plan of action to maximise organisational performance through driving sustained change.
Business transformation usually involves significantly altering the strategy and reconfiguring all the design elements of an organisation in support – the systems, structures, ways of working and often even the physical environment. Most importantly, changing the way people think and behave is key to a successful transformation, and therefore reshaping the culture is fundamental to any transformation.
3. When is business transformation required?
Transformation happens at many points in an organisation’s lifecycle. It may be required when an organisation shifts from being a start-up to a sustainable business, or when an organisation spins-off a new business. Organisations at peak performance can also employ the process, in anticipation of future disruption. Often organisations who are struggling to thrive and survive embark on a turnaround transformation journey.
4. How does one approach a business transformation
Broadly speaking, successful business transformation involves the reshaping of three interconnected elements, namely: Culture, Strategy and Capability. A transformation should be managed like any large program of work.
The Executive Team should be steering and guiding an integrated plan, which covers aspects such as business strategy development and implementation, systems redesign, organisation restructuring, culture by design, and capability development – underpinned by a change and communication strategy. Each of these aspects requires a dedicated lead and a capable project team, working in a coordinated way.
5. What does digital transformation mean?
As the future of work faces an unprecedented digital revolution, organisations realise they must evolve to remain competitive. Digital transformation occurs when the integration of technology in business, requires a fundamental change in how the organisation operates and delivers value to its customers. Just like any transformation, it requires reshaping all the hard (structures, systems, processes and practices) and soft (culture, leadership, behaviours) elements of a business.
Digital transformation is no walk in the park, but without it, your business falls behind. Understanding the challenges that arise and learning how to overcome them are keys to a successful digital transformation.
6. How do you measure business transformation?
Measurement must be on two fronts. Firstly, the progress of the programme of work must be monitored (measures like meeting milestones and budget are important, as is gathering real-time employee and customer feedback).
Secondly, the impact of the transformation on the overall organisational performance needs to be monitored. It’s important to recognise that in the latter case, measures must be both financial and non-financial, and take a long-term view. Often, organisations should expect to see a dip metrics such as share price in the short term but should stay the course to reap the benefits of the transformation in the long-term.
7. What does a business transformation consultant do?
A business transformation consultant can support the organisation in redesigning all the elements of the business to meet the transformation goal. Working with a humanistic approach, the consultant translates transformation strategy into tangible courses of action, which are both dynamic and outcome-focused.
Importantly, they partner closely with the CEO and the leadership team, to challenge their thinking and paradigms so that the mindsets and behaviours that are required for success are effectively developed and role modelled from the top.
8. What makes for a successful business transformation?
Keogh has over 35 years of experience in partnering with businesses to transform and understand the key ingredients for success. A clear way for change, a compelling vision of the future and strong leadership from the top are vital. Keogh offers a bespoke approach to business transformation, which leverages evidence-based practice and designs solutions that can be configured to meet client requirements.