Guiding purpose

Today let’s discuss the first step of my transformation process – Discover: Establish the need for change and develop an aspiration blueprint of the transformation.  (4 Steps to Successful Transformation: 1. Discover, 2. Align, 3. Pilot, 4. Scale).  Discover: It is a critical step in our environment of change, where the value is disrupted, productivity is stagnant, the growth outlook is unpredictable, technology is advancing at breakneck speed, and work, workplace, and workforce are rapidly evolving. So reimagining the value and value delivery is a must. It is the starting point for leaders to understand the need for change and examine market realities, opportunities, and gaps. It is also a moment when a critical mass agrees on the need for change and is willing to move forward. Finally, to develop an aspiration blueprint of the transformation, business leaders must understand the company’s purpose, capabilities, and opportunities relative to the market. Here I explain the three elements of this step:    Guiding Purpose: The secret to living our dream is hidden in our purpose and passion. Purpose acts as a lighthouse to navigate the transformation journey. In this phase, business leaders need to go back to the basics and ask, “Why does this company exist?” and “where are we going?.” Understanding the purpose and connecting it to the vision, mission, objectives, and targets is critical. At the same time, taking a deeper look at the value proposition, customer segments, cost structure, and revenue streams are necessary to forge a futuristic path.  Winning Capabilities: Winning capabilities are a combination of abilities, qualities, and experiences that enable you to succeed in the market. Business leaders must understand the organizational capabilities and gaps to develop the path forward. The team must conduct an in-depth analysis of critical resources (physical, intellectual, people, and financial), partners, channels, and activities to support the aspiration blueprint.  Exciting Opportunities: Before you realize an opportunity, you must be looking for an opportunity. While the first two elements provide an internal picture of the company, there is a greater need to understand the external environment and trends to develop a forward-looking plan. We all have heard that it is easier to go with the flow, so we need to harness the existing trends. The analysis needs to focus on megatrends, industry and geographical trends, customer insights, and competitive positioning.  This analysis provides a deeper understanding of the current state and supports the development of the aspiration blueprint in three phases – improve, expand, and innovate. With the first step complete, the company is well-positioned to move to the next step, “Align.”