Summary of The Transformations That Work – and Why

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The Transformations That Work – and Why summary
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Many major companies have tried to shake things up by bringing in new CEOs. Often, shareholders push for a change in leadership when they see a company’s fortune decline due to industry disruptions and economic shifts. The Boston Consulting Group, which has worked with many companies undergoing transformations, performed a quantitative transformation analysis of major US companies and identified some of the best practices that make transformations successful. getAbstract believes that new CEOs working under intense pressure to future-proof their companies while delivering short-term results will find the group’s report highly valuable.

In this summary, you will learn

  • Why companies need to keep transforming themselves and
  • What four-step approach will increase your chances of a successful transformation.
 

About the Authors

Hans-Paul Bürkner is chairman of the global management consulting firm The Boston Consulting Group where Lars Fæste, Jim Hemerling and Martin Reeves are senior partners and managing directors and Yulia Lyusina is a principal.

 

Summary

At any given moment, one-third of large US companies are struggling to reverse a significant, long-term decline in shareholder value. In a rapidly changing business environment, even well-performing companies can’t afford to wait until the going gets tough. The solution for reversing or preventing decline is far-reaching transformation, including changes in a company’s strategy, organization and culture. For this purpose, companies often bring in a new CEO, who faces the daunting task of refashioning the company while delivering short-term results that keep investors happy. If you are a new CEO trying to walk this fine line, these four steps will increase your chances of success:

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