Thursday, April 26, 2007

Business and Transformation

Change is a funny word in business. It’s good, it’s edgy, it’s hip. It makes me want to buy suit shirts in colors other than white or light blue. OK, not really. I guess I’m not that transformational.

The folks at McKinsey published an article in February 2007 about a CEO’s responsibility to change in his or her company. Does this apply to the defense and aerospace industries?

The article suggests the following four rules for CEOs:

  1. Making the transformation meaningful. People will go to extraordinary lengths for causes they believe in, and a powerful transformation story will create and reinforce their commitment. The ultimate impact of the story depends on the CEO’s willingness to make the transformation personal, to engage others openly, and to spotlight successes as they emerge.
  2. Role-modeling desired mind-sets and behavior. Successful CEOs typically embark on their own personal transformation journey. Their actions encourage employees to support and practice the new types of behavior.
  3. Building a strong and committed top team. To harness the transformative power of the top team, CEOs must make tough decisions about who has the ability and motivation to make the journey.
  4. Relentlessly pursuing impact. There is no substitute for CEOs rolling up their sleeves and getting personally involved when significant financial and symbolic value is at stake.

These rules are as much relevant to my business as any other. Excellent article (registration is free).


No comments: