Developing a transformation strategy and program is critical in tough economic times, both, to adapt to rapid changes in markets, and to prepare for and capture longer term opportunities once the recovery starts.
Enovio’s approach to transformation starts by answering three key questions: “where are we today?” “where do we want to be?” and “how do we get there?” – three simple questions that face any leader attempting to transform and turnaround their organization. For example, we worked with leading US media company in creating a comprehensive transformation program for the technology and operations; we supported the leading US based utility company in implementing a comprehensive capability development program to support the new increasing demand in the utility market; and we worked with a New York-based fashion retailer to design and implement a transformation program to enable them for rapid growth.
“Where are we today?” involves creating a fact-based assessment of the current organization, both from a strategic and operational angles. This may be performed at a company-wide level or at a specific functional level. Based on our client experience, we have developed specific assessment frameworks and benchmarks for several functional areas, for example, supply chain, technology and operations.
“Where do we want to be?” involves creating a clear vision of where the organization needs to be in a specific time horizon. This includes an understanding of the business strategy, emerging market conditions, and other constraints that the business may be facing. This target-setting may also include setting specific measurable targets across the most important metrics. For one client, we needed to set cost-reduction targets for their operations, for a second client, we needed to set operational targets to support a rapid growth rate that the company owners aspired to achieve over five years.
“How do we get there?” involves creating a roadmap and an implementation program. Our approach to operationalize the company’s vision starts by creating a portfolio of initiatives, with each focusing on a specific area that requires change. These initiatives can be programmed over time, with clear metrics, champions, and action plan. In support of this implementation program, we create a clear governance structure, reporting and communication, and risk management. All of these aspects are management by a program office that continuously monitors and management progress.
At Enovio, our approach in working with our clients is collaborative and hands-on. To find more about Enovio’s transformation services, contact info@enovio.com.