Overcoming a Transformation Standstill
What happens when an organization, which is on the path to business transformation, comes to a standstill when they realize how disruptive the transformation might be? Innosight Partner, Ned Calder, joins Michael and Neil as they discuss why this happens along with the importance of top-down leadership and long-term vision to drive successful business and digital transformations.
First, Michael asks Ned about how organizations can get out of a standstill position and why they end up there in the first place. Ned continues on about the risk that is involved when traditional companies must change their business model to compete in a world driven by digital means. He then gives his opinion on the root cause of why this transition sometimes fails.
Michael observes that the digital transformation within a business is sometimes started by a certain person but is then left in the hands of others to maintain. Ned says the catalyst of this is the lack of a clear, long-term vision within the company and provides a solution for this problem. He adds that the organizational culture needs to be considered as well.
Both Ned and Neil give their takes on the future of retailing, with Neil beginning by citing the importance of an omnichannel experience and something he is discouraged by. Ned agrees with Neil’s opinion and adds in the differences between certain industries. Michael then starts a discussion about direct-to-consumer sales.
Ned says that before he started working in his current company, he wishes he appreciated the importance of top-down leadership and long-term vision as it relates to transformation. He then points out a common mistake that companies make when transforming.
About Ned Calder