Weekends are time when things slow down a little. Your weekend shouldn’t be two more regular workdays. That’s a sure road to burnout. Take time to refresh yourself. Take time for something different. Take time for some of that reading you can’t find time for during the week.
Here are choice articles on hot leadership topics culled from the business schools, the business press and major consulting firms. This week there are articles about business transformation.
“A quarter century into the digital age, – as a recent McKinsey study found, – the digital maturity of traditional incumbent firms is still relatively low, – under 25% of their overall potential. Big, established companies, in particular, have been slow to embrace digital organizational practices, – only 26% of worldwide sales are made through digital channels, 30% of internal operations have been digitally automated, and 25% of supply chains interactions have been digitized.”
“Transformations can fail for a variety of reasons, but most unsuccessful efforts share some of these ten weaknesses.”
“Transformations go wrong because of the timing, the team, and in some cases, the strategy. We have very little understanding of why smart people make the same mistakes other than cognitive bias associated with elite groups who make decisions without the benefit of wise second-guessing. The following are the three biggest reasons transformations flop.”
“Executing a digital transformation is a top priority for many companies, yet success remains elusive for most. Only 12% of corporate transformations achieve their targets, and digital transformations are even more challenging.”
“At first glance, surgery and airline travel don’t appear to be very similar. But if you dig deeper, you’ll find overlapping themes in the work experiences of surgeons and airline employees—stress, a high-pressure environment, a lot of team coordination. Actually, these industries have a lot to learn from each other. We at IDEO call this analogous research.”
From Scott D. Anthony, Alasdair Trotter, and Evan I. Schwartz: The Top 20 Business Transformations of the Last Decade
“In 2012, Denmark’s biggest energy company, Danish Oil and Natural Gas, slid into financial crisis as the price of gas was plunging by 90% and S&P downgraded its credit rating to negative. The board hired a former executive at LEGO, Henrik Poulsen, as the new CEO. Whereas some leaders might have gone into crisis-management mode, laying off workers until prices recovered, Poulsen recognized the moment as an opportunity for fundamental change.”
Thanks to Art Petty for pointing me to this story.
Designed for Digital: How to Architect Your Business for Sustained Success by Jeanne W. Ross, Cynthia M. Beath, et al.
Dual Transformation: How to Reposition Today’s Business While Creating the Future by Scott D. Anthony, Clark G. Gilbert, et al.
Leading Digital: Turning Technology into Business Transformation by George Westerman , Didier Bonnet , et al.
Digital Transformation: Survive and Thrive in an Era of Mass Extinction by Thomas M. Siebel
Why Digital Transformations Fail: The Surprising Disciplines of How to Take Off and Stay Ahead by Tony Saldanha and Robert A. McDonald
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