For years now , transformation has been a catchall term for how organizations make the right moves to achieve their full potential. Companies usually aim to deliver healthy financial performance and organizational effectiveness before focusing on higher growth, new strategies, and tech-enabled solutions. But the pace of change means that waiting to “earn the right to grow” is no longer the best strategic or financial option. Just a few trends tell the story: new digital entrants are disrupting industries, with many capturing more value and significantly higher equity valuations than incumbents; ecosystem-based strategies are gaining ground; companies committed to environmental, social, and governance (ESG) criteria are increasingly standing out; and talent is a bigger priority than ever in the C-suite, as leaders try to ramp up the right capabilities to create value. In such a dynamic business environment, focusing on new ways of working, new capabilities, and new technologies is the way forward. Yet transformations are not easy to get right. Research by McKinsey has long documented that enterprise-wide transformation is difficult, with less than a third of transformations reaching their goals to improve organizational performance and sustain these improvements over time. Here’s what years of research have taught […]