TRANSFORMATION IS A FOUR LETTER WORD...HARD pt7

Success Factor #6 - Timeliness

You have heard the phrase “the quick and the dead.” Failure to take prompt action on key decisions is a momentum killer. This ties directly to Success Factor #5, Support, for transformation success.

As part of a global transformation, one of the key deliverables was a new global policy and procedure manual for all subsidiaries. Prior to this, only key USGAAP requirements were global, with local entities having control over the remaining policies and procedures. The manual was supposed to be completed early in the project so that all entities could conform as they were brought on board. This was delayed because leadership was unable to provide timely guidance on key decisions, resulting in a longer stabilization period, higher organizational stress and additional costs.

Recommendations:

1. Implement robust monitoring and controlling of the project. You can’t correct what you don’t know.

2. Have a well-defined process for issue identification and escalation. You can’t fix what is wrong if you don’t know how to let someone know.

3. Leadership must be committed to action as issues arise. It won’t get fixed without your decisions on what to do.