Business Transformation

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Business Transformation

Successful Business Transformation

8. Institute change

7. Sustain acceleration

6. Generate short-term wins

5. Enable action by removing barriers

4. Enlist a volunteer army

3. Form a strategic vision and initiatives

2. Build a guiding coalition

1. Create a sense of urgency

Vista Print

Founded in 1995 strong growth through to 2010

In July 2011 founder Robert Keane boldy withheld earnings and committed $10's of millions to improve the CX

RESULT: Repeat orders are up Net promoter score up 20% in UK Stronger brand

Extra fees deleted, discounts scaled back

Trialled in Canada

New company culture

Management identified issues

No customer loyalty

Aiming at upsells

Marketing solely on offers

Cure: Biz transformation

Being honest - if you can't admit things are going wrong you'll never be able to turn around a company, product line or a division.

Evidence

Tesos

Investigated by competition commission for being a monopoly - 'Tescopoly' - was published in 2007 by Economist Andrew Simms

Horse meat

Hammered by Lidl and Aldi

Lost it's CEO

Profit mis-statement scandal

Since then share price halved

In 1920s average lifespan of a S&P500 was 67 years. Today 15