A £6.4bn UK plc, a group of 21 companies, was struggling to achieve success with its strategic projects. It's not unusual.
Nearly 75% of all business transformation initiatives fail to achieve revenue and margin goals., according to research by KPMG.
McKinsey & Co agree:
The academic research is really clear that when corporations launch transformations, roughly 70% fail.
I was part of a boutique consultancy working for the plc, and the successful initiatives were routinely in our corner.
Noting our consistently successful outcomes, in sharp contrast to their other initiatives, the Group Executive decided to set up an 'Innovation Centre' around us. Other projects were sent to work in the space.
The plc hoped to improve their success rate by absorbing our way of working into their DNA.
The winning way of working behind the success of these major projects is one I instigated and developed.
My approach creates a common understanding and enhanced collaboration, where all business functions are on the same page.