Identifying the need for a Full Potential Transformation and implementing the change itself pose two distinct challenges:
- Defining a bold vision for how the company must change, based on a clear-eyed analysis of its core competitiveness, now and in the future.
- Recalibrating this "ideal" vision based on a realistic assessment of what the organization can do to align leadership, manage change and work through the disruption.
Lofty goals require pragmatic plans. Bain works side by side with clients to help them create detailed and customized strategies that will produce the change they are looking for. That’s why our process starts with questions:
1. What kind of transformation do you need?
Together, we assess the company’s current health in the context of industry dynamics, gauging how far its business model must shift to sustain or revive growth. Understanding this point of departure—and envisioned point of arrival—will establish the magnitude, difficulty and velocity of the change.
2. What is the right choreography?
We look across the seven levers of the business—strategy, operations, organization, customer orientation, capital structure, information technology and Results Delivery—to establish the most logical sequence of action. The goal is to pull the right levers at the right time, without disrupting the company’s overall strategy.
3. How should the transformation be managed?
Crafting a Full Potential Transformation plan is one thing, but executing it effectively requires the right leadership structure. The company’s culture and the magnitude of the effort ahead should inform the degree of centralized oversight. Some organizations respond best to a central management office while others prefer to manage change through the line.