Make your Wise Pivot to the New

COMMUNITY ARTICLE

Make your Wise Pivot to the New

Change is a challenge, but winning organisations are constantly reinventing themselves. They are transforming their legacy operations while also seizing new opportunities. This report, from Accenture, explores how.

Key points include

To harness disruption companies must learn how to shift into new markets, activities and areas in which they have not previously participated at scale.
In reality, most companies will likely shift to new businesses very slowly. Today, around 70 percent of companies generate less than one-half of their revenues and profits from new business activities.
Companies need to understand the level of investment required to drive change. This way, they can fine-tune their existing activities by reducing costs, divesting non-core businesses and streamlining assets to allow them to scale new business activities.
Companies need to structure their organisations to innovate by design. They can do this by concentrating innovation under strong leadership, with dedicated investment. They should also develop structures that enables the embeding of innovation into their corporate DNA.