More than ever, radical changes have become a part of everyday business life. Technological quantum leap, disruptive business models, intense competition, a global marketplace and increasing customer demands are just some of the challenges faced by companies and organisations. And the ability to change rapidly has become an increasingly important factor for success in the modern business environment. As such, companies that have the ability to deal with changes successfully have a distinct competitive advantage.
Companies find themselves in a state of permanent change, with almost smooth transitions and parallel processes. And this requires the agility to create, implement and absorb change. It is no longer enough to be ready for change. Leaders and employees have to be ready to create change.
Kraft & Partners’ approach to change management is divided into five phases:
A large Danish company had failed to implement its strategy outside top management. In fact, as little as 10% of the company truly acted according to the new strategy.
Kraft & Partners analysed the degree of strategy implementation and based on the results supported the company in the following activities:
- Building up the necessary leadership power by creating an acceptance and understanding of the strategy among key leaders and employees.
- Leadership training: The leaders got the skills to communicate about the strategy and to act based on strategy in their daily management.
- Development of a plan to maintain the strategy in the longer term. This included the necessary HR adjustments of the recruitment strategy, some dismissals, bonus agreements etc. Furthermore, there was focus on the individual leadership objectives, focus on celebrating the small successes and at the same time keeping momentum.
- Identifying full strategy implementation milestones.
- The result was that 96% of the leaders and the employees understood what the strategy was all about. Now they also started to act according to strategy in their everyday life.
- The company achieved its strategic goals after two years.