Business Transformation Roadmap
A full Business Transformation effort for mid-sized organizations is a large undertaking that can be initiated by addressing at least two tracks:
- The identification and execution of A FOCUSED project in the most important IMPACT AREA for the company,
- The ADOPTION of the GROWTH LEADERSHIP FRAMEWORK to enable the transformation: (1) the change management, (2) the installation of AGILE governance and decision making processes and (3) the alignment of stakeholders.
The objective of the transformation is to bring the company to a new operating model and most likely also a new business model, while continuously growing revenue, EBITDA and Margin. This requires successive iterations, but can only be successful by starting with at least one tangible small-scale sub project to build organizational momentum.
Client organizations can opt to do a limited set of actions to acquaint themselves with the ideas and processes to pace the transformation to their needs.
The Assessment Phase is internally focused and uses the Eight Digital Growth Factors to develop a maturity diagnosis on organization, strategy, process, systems, and data. The goal is to assess current processes and inventory technical skills, capabilities, and the knowledge base of the company.
02 OPPORTUNITY SCAN
Here we explore the driving forces within the industry, customer knowledge and understanding, the role of the company in the industry environment to ascertain possible areas of disruption, acceleration and new value creation. We dive deeply into the three major areas of strategic importance: Technological advancement (The art of the possible), The Customer’s business dynamics and understandings, The Delivery ECO-system opportunities (Channels, Co-developers etc)
Following the Assessment and Opportunity evaluations, Focused Growth Partners, Inc. assembles a workshop with key leaders of the organization. In the workshop, which may cover multiple sessions in complex organizations or industries, we clarify and frame the opportunities available to the organization.
04 BUSINESS CASES
In this phase, we develop business cases for each phase of the transformation process including the initial steps, transformation strategy and longer term outcomes. These cases are developed with these key ideas in mind:
- Relying on Evidence-Based knowledge and capabilities and identifying areas that need testing and verification.
- Design a set of first steps with clear articulation of the ROI of each step.
- Developing a “designed future” for the company in a digitally transformed state. This plan may evolve over time and is critical to help align all stakeholders and activate them appropriately.
The Commitment Phase emphasizes translating the Business Cases into a committed approach, in the form of roadmaps for value propositions and capabilities, by leadership and (if applicable) investors and stakeholders that balances:
- Expected results and outcomes
- Risks and mitigation
- Investment flow
- Evidence-Based capability development and sourcing
- Agile practices and processes needed to build evidence-based innovation
Here, a minimally viable project is started to test ideas within the masterplan approach and confirm assumptions about value creation potential and scale. This phase may include multiple projects working in parallel.
Results from the Testing Phase are translated into a scaled business with emphasis on revenue generation and market dominance. The advantage is safeguarded to solidify leadership position.
08 RE-VIEW, RE-CYCLE
A semi-annual review where the architecture of the project is assessed and redesigned as needed to meet the desired end state. Agility is key.
A key deliverable of the transformation initiative is to instill a way of working in the company that will allow it to dynamically adjust and manage the projects: the risks, investments and returns, leveraging a specific methodology applying agile and architectural principles to the business as a whole.