But the common denominator to all these efforts has been building new digital platforms, says Paul Cobban, Chief Data Transformation Officer. One of the keys to that success was not just going digital but opening up a digital platform that others can play on, taking part of the playbook from companies like Apple, Adobe and Amazon. By late , DBS demonstrated that digital customers are at least twice as profitable as traditional customers.
Netflix mines audience data to create an astonishing range of new shows. Not only does Netflix use data to drive the compelling customer experience e. For example, there are numerous stories of potential showrunners e. The Crown arriving to meet Reed Hastings thinking they were there to pitch the show only to discover that Netflix had used data to already make the decision about pursuing the show based on their own analytics.
Other T20 firms have also reaped benefits of invested heavily in new digital platforms for its customers. Cisco has cultivated customer relationships to find smart niches for new value-added digital subscription services. Ecolab has created new digital platforms for water analytics and distribution. Jeff Bezos of Amazon. In a similar way, Alibaba has always made innovation the key to everything, enabling it to expand beyond its roots as an e-commerce and Internet services company into new growth areas ranging from digital platforms for financial services to digital media to AliHealth and AliSports.
At Microsoft, CEO Satya Nadella has built a different kind of culture of innovation, less technological and more customer-focused, than the company led by his predecessors. This was accomplished largely by shifting its culture away from one of competition, where managers were told to rank the value of each employee from 1 to 5.
Nadella came up through the organization by growing its Azure cloud business by asking questions about customer needs. In some cases, these companies are only just recently embarking on their transformation journey. For instance, Italian energy giant Enel only began in to embark on its strategy for smart homes and sustainability services.
The takeaway lesson from these mission-changers is clear: In an era of relentless change, a company survives and thrives based not on its size or performance at any given time but on its ability to reposition itself to create a new future. As outlined in Dual Transformation see graphic below , there are three flash points that happen as an organization change effort is proceeding successfully but can derail the entire plan:. Crisis of Commitment: when at the early stage of a transformation, many leaders and employees worry about committing to a new trajectory and seeing it through even in the face of evidence that the core is in decline.
Crisis of Conflict: when different parts of the organization fight for scarce capital resources as new growth areas receive a disproportionate share of investment relative to their current size.
What happens when key stakeholders complain that new growth progress is too slow? However, the vast majority of leadership teams never encounter these three crises. That caused us to step back to consider what prevents most companies from making the decision to transform in the first place. One driver of this crisis is that existing data misleads because it lags the disruption taking place in the market.
By the time the data is clear, it is typically too late. A second problem is that existing customers often serve as poor guides to the future, as they tell companies to provide them better, cheaper versions of what they are currently providing. A final driver of complacency is the constraints that an existing business model places on a company.
The lessons are counter-intuitive yet clear:. This places companies in the prison of the present, where they perpetuate the past versus creating the future. It takes courage to choose the difficult path of breaking out of this prison and challenging the status quo. Big moves look like they are really risky. But by and large they are not. Because what you lose when you invest a ton of money is the money you invested.
It is capped. However, when you win, you create not only an annuity but a new ecosystem that gives you the opportunity to grow in new areas for a long time to come. The Transformation 20 indeed shows the powerful payoff that comes when leaders steer their organization through these crises to imagine and build a bold new future. Has this transformation had a significant impact on customers and its industry over the past decade? Does the company show potential to sustain its transformation over the next decade? Our team rated each company using a set of criteria measuring their financials notably revenue growth and stock performance , the degree to which they had built meaningful new growth businesses, and the degree to which they had repositioned their core business.
During round two, we used these comparative metrics to narrow the list to 27 finalist candidates, as voted on by a panel of Innosight partners: Scott D. Anthony, Rob Bell, and Alasdair Trotter. For each company, we created a one-page judging profile.
We then sent that presentation of profiles along with instructions out to our panel of judges, who scored each company on a scale of 1 to 5, with 5 being the best example of a successful strategic transformation. Professor, Columbia Business School. Chair, Singapore Economic Development Board. Chief Strategy Officer, Expeditors Seattle.
A world-recognized authority and acclaimed mind-body medicine pioneer presents the first evidence-based program to reverse the psychological and biological. Welcome to The Transformation. We are a Concierge Makeup Artistry and Hair Design company based in North Alabama. We specialized in hair and makeup.
Scott D. Robert D. Evan I. Disruptive change is accelerating, and companies today face more ambiguity than ever.
But with ambiguity comes opportunity. Leaders equipped to act in the face of uncertainty can build paths to growth that have not yet been imagined. Traditional approaches to strategy and growth are insufficient to meet the challenge. Disruption - We are committed to moving beyond the limits of the conventional and encouraging divergent thinking to generate innovative ideas.
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Courage doesn't always roar. Sometimes it is the little voice at the end of the day that says, I'll try again tomorrow. You would be mad not to engage her and seek her valuable counsel. Tess is an action-oriented coach who knows exactly what buttons to press in order to get results.