Thinking differently for a change
You've probably seen the oft-cited statistic that 70% of change initiatives fail—a rate that has persisted since the 1970s.
Today, the need for strategic change has never been greater. The workforce is evolving, customer expectations are shifting, and technological advances continue to disrupt the market. With massive investment dollars being spent, reputations on the line and strong competition, organizations can't afford such a high failure rate if they want to stay competitive.
Effective change boils down to directing energy and aligning efforts toward changing three key elements—the strategy and mindset, the people and their behaviors, the underlying infrastructure—and it is these elements that drive an organization’s performance.
Organizations aren’t used to thinking in this way, but with decades of change efforts yielding minimal success, it’s time to think differently for a change.
If you knew that the conditions for successful change were not in place, and in fact knew where and why this was the case, would you do things differently?
To help organizations maximize their chances of success and take the guesswork out of delivering change, Oliver Wyman developed an approach to strategic change, which guides organizations through their change journey with a systematic method. Underpinning this is our TrueView digital platform, which streamlines the data capture, processing and analysis, and provides fingertip access to key diagnostic insights to help your organization achieve lasting results.
What does it take for strategic changes to succeed?