Transformations represent a fundamental and risk-laden reboot of a company. Successful transformation requires rapid, short-term improvements to the bottom line to establish traction and fund the journey. At the same time, the company must also make more profound changes to its business model, organization, and culture to achieve sustainable long-term success.
All of these aspects must happen in parallel. Therefore, it is not surprising that many transformations fail: some 75% fall short of their targets in terms of value generated, timing, or both.
But there are ways to manage transformation to success. BCG has helped leaders of companies—and other types of institutions—execute hundreds of transformations that have led to significant operational and financial impact. Based on our experience across industries and regions worldwide, we have developed a proven framework that flips the odds in the company´s favor.