Change isn’t easy. In fact, most transformation programs don’t deliver the hoped-for results. BCG’s Office of the Chief Transformation Officer (CTO) helps companies beat the odds by putting the right individuals at the helm of their most ambitious change efforts. With a CTO in place, the rate of transformation success improves by 80%.
Failed transformations come with a high price tag—including shrinking profit margins, lost market share, and diminished competitive advantage. In an attempt to avoid these woes, organizations often designate a company executive in charge of transformation. But as with transformations themselves, many such transformation officers struggle to succeed.
BCG’s Office of the Chief Transformation Officer provides the resources companies need to tip the balance in their favor—by making sure their change leaders have the right skills and knowledge to succeed. We do this by bringing together a network of Chief Transformation Officers for regular training and support around five key stages along the CTO life cycle:
Our consultants know that merely having a Chief Transformation Officer on staff doesn’t guarantee victory. Informed by insights from interviews and analysis of successful and unsuccessful transformation programs, our recommendations and support are grounded in hard evidence of what makes CTOs effective—and what doesn’t.
BCG’s body of thought leadership on change and the Chief Transformation Officer role—including a wealth of articles and expert videos—sets the stage for CTO success.
Transformations are critical to building competitive advantage and delivering shareholder value. They are most successful when managed through a transformation office.
If everything is a priority, nothing is a priority. What do companies focus on in the critical early stages to ensure a successful transformation?
Change is hard, but readiness is all. Companies prepared to manage the leader, people, and program journeys can double their chances of success.
Choosing which transformation projects are the most important is challenging for many senior executives. Three simple guidelines can help.
Philip Jones
Philip Jones
Reinhard Messenböck
