This is a well known problem. Organizations begin well-planned change initiatives with the best of intentions, but then struggle to achieve their goals. To understand why this happens so often, the authors conducted an extensive study that provides deep insight into the fundamental challenges organizations face when embarking on change initiatives. Based on these insights, we designed a five-step process for successful transformation efforts. This article describes that process and provides advice on how to implement it.
When a major US-based financial institution needed help transforming its entire organization, it turned to Deborah, an experienced executive coach and transformation consultant. The financial institution was grappling with technology disruption, changing customer expectations, and increasing regulatory pressure, and saw a transformation program as a natural solution to these challenges.
