Change isn’t easy. In fact, most transformation programs don’t deliver the hoped-for results. BCG’s Office of the Chief Transformation Officer (CTO) helps companies beat the odds by putting the right individuals at the helm of their most ambitious change efforts. With a CTO in place, the rate of transformation success improves by 80%.
Failed transformations come with a high price tag—including shrinking profit margins, lost market share, and diminished competitive advantage. In an attempt to avoid these woes, organizations often designate a company executive in charge of transformation. But as with transformations themselves, many such transformation officers struggle to succeed.
BCG’s Office of the Chief Transformation Officer provides the resources companies need to tip the balance in their favor—by making sure their change leaders have the right skills and knowledge to succeed. We do this by bringing together a network of Chief Transformation Officers for regular training and support around five key stages along the CTO life cycle:
Our consultants know that merely having a Chief Transformation Officer on staff doesn’t guarantee victory. Informed by insights from interviews and analysis of successful and unsuccessful transformation programs, our recommendations and support are grounded in hard evidence of what makes CTOs effective—and what doesn’t.
Like a CTO, the leader of an alpine climb must marshal all of his or her skills in program design, motivation, and contingency planning to tip the odds toward success.
The odds are stacked against leaders who manage major organizational changes. But those who model the behaviors they seek and are persistent, hypervigilant, and flexible can improve their chances of success.
Change is hard, but readiness is all. Companies prepared to manage the leader, people, and program journeys can double their chances of success.
A new approach enables companies to realize the true potential of corporate transformation, even in a world of constant and dizzying change.
"No battle plan ever survives contact with the enemy," claimed Helmuth von Moltke the Elder in the 19th century. The same holds true for change management, where few plans remain unaltered during implementation. Companies often fail to anticipate and react to the full range of pitfalls that can harm their change programs. That’s one reason why 50% of straightforward change efforts and 75% of more complex ones are considered failures.
Like for-profit organizations, public-sector agencies can use impact centers and new ways of working to collaborate, streamline processes, and improve change management.
