The Transformation 20 rankings
Have you ever heard of “The Transformation 20” rankings? It’s a regular report published by INNOSIGHT that ranks 20 top global innovative firms achieving successful transformations selected from S&P500 and Forbes Global 2000’s list. The 2019 list includes notable names including Netflix with its famed switch from DVD rental to streaming services. Here are 3 common characteristics shared by successful innovators:
1) their focus on new growth areas are typically huge markets with large social needs in wide-reaching industries;
2) they talk about social missions and ambitious goals: Communicating “what” and “why” the transformation needs to happen is essential for all parts of the organization to head in the same direction;
3) not afraid to let go of the past: Leaders sometimes have to downsize their legacy business to embrace a new business model.
Building a new corporate requires a strategy that aims for overall optimization with a big picture thinking. The report also introduces 4 organizational crisis types that may haunt organizations during their strategic transformation.
Source: Bizzine
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