The Key to Successful Business Transformation
There is no question that continual business transformation is the new normal for enterprise today. Rapidly advancing technology and disruptive trends like Cloud, Bring-your-Own-Device (BYOD), and Big Data are creating an environment of continual change that impacts not only IT, but the entire organisation. In order to maximise the benefits that these technology-led business transformations can offer, enterprises need the right organisational and individual capabilities.
So how well prepared are companies for this new normal? In a study conducted by Capgemini in Western Europe 70% or organisations surveyed said that business transformation was not something that they excelled at.
Successful business transformation requires governance and competency in a number of areas including:
- Strategy –It all starts with strategy. Organisations need to have the right vision and tactics to achieve their defined business goals. Success in this area however requires not only effective leadership, but also strong governance in business and enterprise architecture as well as the ability to effectively communicate the vision and strategy to gain employee commitment.
- Project Management – As projects become more complex it is essential to have well defined processes and procedures for planning, implementing and measuring project success. Project managers require strong leadership and communication skills, and need to be able to manage multiple priorities simultaneously.
- Change Management – This is one of the most critical elements required for success. Research conducted by leading organisations such as Harvard show that most change management initiatives fail as a result of lack of buy-in from employees. Effective change management starts with identifying the magnitude of the change to employees’ tasks and the environment those tasks will be performed in, and requires different supporting tactics depending on the scope of the change.
Companies who don’t have the necessary processes and competencies in place in these essential practice areas will not be able to fully leverage the power of business transformation. Organisations need to:
- Identify the required competencies through understanding of industry best practice in these important disciplines.
- Assess their current level of organisational and individual competency in the practice areas.
- Identify process, skills and knowledge gaps.
- Build training plans to close gaps.
By purposefully building organisational and individual capability in these areas, enterprises will be well positioned to capitalise on the benefits that IT-led business transformation can offer – both today and into the future.
Reposted with permission from the Global Knowledge UK blog.