The "Magic Bullet" is one I see repeatedly in the industry, especially when it comes to Tech. I think a lot of companies forget the whole idea of getting the basics right & building on those solid foundations.
I've resourced for 4 Transformation programmes in excess of £250m, with a 2 programmes being extremely successful & 2 failing...
The two that failed had different reasons:
Company 1 - the board pushed through a "digital" transformation without realising the impact it had on their customers & whether they wanted to buy digitally (B2B Wholesaler, Very Traditional).
Company 2 - The board brought in an expensive MC who decided that it would be wise to roll out £100m worth of projects at the same time, it was like dealing death by a thousand cuts to the business. The CEO, & CFO both left within the 18months & the business has only just recovered!
The two that were successful:
Company 1 - Created a shadow board & having the bright minds already in the business with the skills to present the problems to the main board. The main board understood that they didn't have the digital skills needed, but also did not let pride get in the way of having younger, smarter people in the room.
Company 2 - In play at the moment, but have hired extremely well into their C-1 & 2 levels to ensure that the management structure has all the tools needed to make effective decisions (not just in Tech, but across Business Ops)
They've created a culture of excellence, with the ability to bring in SMEs to solve problems - either in the form of Interims or Niche SI's.
The board trusts their SLT & has huge confidence in them... The business recognises that successful change is being rolled out, without any negative impact.
Thanks Jordan - that Shadow Board idea is brilliant, and I'm definitely stealing it - another way for the senior team to deal with the knowledge gap on new technologies.
Thanks Ian, a shout out for the Boards that do get it & have the capability to combine their enthusiasm with the rest of their deep leadership experience to progress digital / transformation projects appropriately. PS I've faced my 'oh that's something new' fear & re-stacked with a note.
Hi Ian,
The "Magic Bullet" is one I see repeatedly in the industry, especially when it comes to Tech. I think a lot of companies forget the whole idea of getting the basics right & building on those solid foundations.
I've resourced for 4 Transformation programmes in excess of £250m, with a 2 programmes being extremely successful & 2 failing...
The two that failed had different reasons:
Company 1 - the board pushed through a "digital" transformation without realising the impact it had on their customers & whether they wanted to buy digitally (B2B Wholesaler, Very Traditional).
Company 2 - The board brought in an expensive MC who decided that it would be wise to roll out £100m worth of projects at the same time, it was like dealing death by a thousand cuts to the business. The CEO, & CFO both left within the 18months & the business has only just recovered!
The two that were successful:
Company 1 - Created a shadow board & having the bright minds already in the business with the skills to present the problems to the main board. The main board understood that they didn't have the digital skills needed, but also did not let pride get in the way of having younger, smarter people in the room.
Company 2 - In play at the moment, but have hired extremely well into their C-1 & 2 levels to ensure that the management structure has all the tools needed to make effective decisions (not just in Tech, but across Business Ops)
They've created a culture of excellence, with the ability to bring in SMEs to solve problems - either in the form of Interims or Niche SI's.
The board trusts their SLT & has huge confidence in them... The business recognises that successful change is being rolled out, without any negative impact.
Thanks again for sharing Ian!
Thanks Jordan - that Shadow Board idea is brilliant, and I'm definitely stealing it - another way for the senior team to deal with the knowledge gap on new technologies.
Thanks Ian, a shout out for the Boards that do get it & have the capability to combine their enthusiasm with the rest of their deep leadership experience to progress digital / transformation projects appropriately. PS I've faced my 'oh that's something new' fear & re-stacked with a note.
Thanks Steve - totally agree, that's exactly the approach everyone should be aiming for. And thanks for the restack - very brave!