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Erschienen in:
2023 | OriginalPaper | Buchkapitel
8. Corporate transformation: Five success factors
The Galderma example
verfasst von : Thomas Dittrich, Emil Ivanov
Erschienen in: Agile Finance Transformation
Verlag: Springer Fachmedien Wiesbaden
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Abstract
Transformations are complex change programs that profoundly reshape organizations with the goal of making them more competitive, healthier, and better poised for sustainable and profitable growth. Normally a multi-function, multi-year program, led by top management, a transformation impacts the entire organization, creating value by upgrading the current organization’s structure, processes, and technology. A company’s finance function typically plays a key role in such a transformation, with the Chief Financial Officer (CFO) acting as the companywide transformation leader and overall program sponsor.
Five factors are critical to delivering a successful company-wide transformation:
1.
Cost transformation as a catalyst for growth.
2.
End-to-end approach to scoping the program.
3.
North Star mentality in ambition setting while also driving a fit-for-purpose design.
4.
Paced, front-loaded initiative design and relentless leader-led execution.
5.
Transformation as an authentic opportunity to assess and develop talent.
Examples of successful transformations can offer practical insights and lessons learned to others planning such a program. This article reflects on the five key success factors and how they can be deployed, using the Galderma transformation as a case study.