Change: 45% Ready to Adapt
The pace of change was dizzying – new channels, new technologies and even new business models were threatening the industry leader’s three decades of dominance.
The transformation initiative was launched in a fanfare. Yet, nobody doubted the extent of the challenge ahead. The data left no room for complacency – on a 10-point agility scale, the organization’s score was a worrying 4.5. But Pitstops also revealed the levers (culture, structure, etc.) to greater agility and innovation.
Looking beyond ‘business as usual’, the leadership team was determined to raise the agility score to 7.5 or above over a period of 10-12 months.
Data put organization agility at 45%
Here is a snapshot of the data showing how greater agility was fostered over a period of 12 months:
The need for greater agility and innovation was demonstrated by the level of volatility, uncertainty, complexity and ambiguity faced by the organization.
Data revealed high levels of strategy anxiety, with more than 2 out of 3 managers indicating that the organization wasn't moving fast enough (strategic speed) or in the right direction (strategic velocity). These scores improved by up to 18% over a 6 month period.
Greater agility was underpinned by improvements to structure/design and behavioral dynamics, as well as a closer link between strategy and execution.
‘With storm clouds gathering over our industry it was clear that we were not ready…. that we risked being overtaken by change. Today, we are in a much better place to take advantage of the myriad of changes that are happening.