Analysing the outside world isn’t as transparent as it used to be. Competition is scattered and can come from different directions and new comers, in particular technology advanced players, can fundamentally change the market. Successful companies in that new environment are no longer monolithic organisations who succeed by executing step-by-step their multi-year strategy plan. On the contrary, these companies are able to handle multiple scenario’s, play at different levels on multiple markets and are able to connect into or create their own network or ecosystem.
Having said that, it is remarkable that in the world of advisors, consultants and interim management such an network approach is not yet the standard way of working. At Bold Capital Management we have, from the start, invested in a broad, strong and knowledgeable network of partners, associate partners and interimmers. More importantly we strongly believe in a multi-disciplinary approach.
Teams, that address the full depth and breath of a company, are more capable of identifying the needs and opportunities and can assist companies in delivering a pragmatic and doable execution plan whereby the different business needs are addressed and accounted for.
In addition we continue to invest in our own network or ecosystem, by teaming up with strong players in multiple disciplines that have a DNA and approach similar to BCM that allows our customers to benefit from a seamless integration of delivering solutions and services beyond the remit of BCM.
Only 25% of executives consider their latest transformation successful according to McKinsey.
It only underlines the need to carefully consider and prepare for any transformation. Studies find that key elements to a successful transformation are:
One final crucial element, is to complete the transformation. It sounds obvious, but too many projects fail due to the 90% syndrome, at 90% completion other projects are considered to be more important, fun and the actual projects isn’t finalized, with all the follow-up consequences.
Most companies would claim that they are either a leader of learner of innovation in their market. Actual data shows that most companies are actually laggards.
To be a true innovation leader a company needs to have a sound strategy, a capable team, a shared vision and the ability to easily develop, connect or acquire and integrate new innovations in their organisation.