As technology innovation and globalisation continues to accelerate, we’re facing an ever increasing pace of change. And that change is also increasingly transformational in nature. And that requires a very different approach, one that is driven from a higher purpose and truly engages everyone involved. Typically, the changes we’d identify as transformational are those that:
- Fundamentally impact the way the business operates
- Fundamentally impact the way the business serves its customers
- Fundamentally impact the way the business is structured
Transformational change, as the name suggests, involves a fundamental change to what the business does and how it delivers value to its customers. Generally, this applies when at least 40% of the business is doing something completely new that it’s not done before. An example would be a book publishing company that changes its business model from being purely physical (books) to 50% digital, online and subscription based. This requires a fundamental behaviour and mindset shift by everyone involved and therefore a different approach to delivering it. To some degree, all changes are transformational – however, some are more impactful than others.
Our experience in the music and media sectors during the rapid digitalisation of content and the fundamental changes in the underlying business models that followed have helped us to understand the factors most likely to lead to a successful outcome.
It can be useful to remember that each of us tends to see things differently, based upon our own values, our situation, our biases and our understanding of the situation, which is often less complete than we think. Our people-centred approach to change is specifically designed to keep that front of mind, hence ensuring that the changes go deep enough and are here to last. At the root of that is ensuring that everyone feels safe, ready to embrace the uncertain and determined to make it happen.
At Applied Change, we seek out the latest research and best practice on how to increase engagement, improve change outcomes and become more agile and resilient.
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