How to Transform Amid a Crisis
Transformation has never been easy. Amid the pandemic, it’s never been more essential.
The Transformation Imperative
The pandemic has accelerated underlying trends and pushed many companies to the brink of crisis. Reinvention is the key not only to survival but also to long-term success.
But BCG research shows that only about one quarter of companies that attempt transformation achieve both goals.
The most successful transformations deliver above-average shareholder returns and accelerated growth.
BCG’S GUIDE TO TRANSFORMING FOR GROWTH
A Three-Part Approach
Successful transformers deploy a comprehensive approach that spans the entire business.
Increase the Odds of Transformation Success
EXPLORE BCG’S TRANSFORMATION EXPERTISE AND CAPABILITIES
Leading in the New Reality
How Comeback Kids Will Build the New Reality
Discover the companies that transformed during a difficult period to emerge stronger.
LEARN HOW TO COME BACK FROM A CRISIS
Thrive Beyond Adversity
Business leaders can take six steps to transform their organizations for innovation and growth.
In the fog of crisis, longer-term opportunity is abundant but obscured. Companies must seize the moment—and build an ongoing transformation capability for the future.
Change your trajectory with business transformation
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17%
32%
23%
27%
Shareholder return
Accelerated growth
Leadership
CEOs can bridge business silos, allocate resources, and serve as role models for cultural changes to ensure a transformation’s success.
Strategy
Companies need to adopt a long-term view on strategy and take an exploratory approach to growth.
CultUre
Cultures that instill a sense of purpose and the need to think holistically about change increase the odds of a successful transformation.
Lars Faeste, a BCG managing director and senior partner, shares his insights on carrying out a successful transformation.
#HowtobyBCG
Think like
a new CEO
1
Look beyond survival
2
Harness the power of uncertainty
3
Accelerate digital
4
Fix it before it breaks
5
Think like
a new CEO
Look beyond survival
Harness the power of uncertainty
Accelerate digital
Fix it before it breaks
1
Think like
a new CEO
Think like a new CEO
Avoid legacy bias and take bold steps to shake up established ways of thinking.
BECOME A TRANSFORMATIVE CEO
Look beyond survival
2
Harness the power of uncertainty
3
Accelerate digital
4
Fix it before it breaks
5
Put people at the center of your transformation
6
Put people at the center of your transformation
GAIN ADVANTAGE BEYOND CRISIS
Look beyond survival
Find advantage in adversity by taking rapid actions that, in addition to being critical for survival, create opportunities to secure long-term competitive advantage.
BUILD YOUR UNCERTAINTY ADVANTAGE
Harness the power of uncertainty
Embrace volatility by cultivating the ability to detect signals that indicate unanticipated opportunities, risks, and potential.
FLIP THE ODDS OF YOUR DIGITAL TRANSFORMATION SUCCESS
Accelerate digital
Take advantage of disruptive technologies and integrate them into new processes, organization models, and ways of working.
EMBRACE PREEMPTIVE CHANGE
Fix it before it breaks
Don’t wait to transform. Evolve before the competition—not after you’ve become obsolete.
Put people at the center of your transformation
6
FOCUS ON THE HEAD, HEART, AND HANDS
Put people at the center of your transformation
Engage and inspire your workforce to carry out the transformation. Build a culture of care, instill an organization-wide sense of purpose, and reinvent ways of working.
BCG’S GUIDE TO TRANSFORMING FOR GROWTH
Explore more topics in the How to by BCG Series
How to Lead in the New Reality
How to Protect Your Workforce During the COVID-19 Pandemic
How to
Accelerate Digital
How to Harness the Power of Purpose
How to Lead in the New Reality
How to Protect Your Workforce During the COVID-19 Pandemic
How to
Accelerate Digital
How to Harness the Power of Purpose
Download the six steps
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