Oliver Wyman : The Corona Virus Rebound
Updated: May 20, 2020
Patrick Daoust and Paul Simon of Oliver Wyman highlight how their "zero based organisation" approach to business reinvention and reorganisation will serve a key role for those organisations who recognise the need to reposition their business to prevail in the post COVID-19 world.
They describe their experience with traditional top down business redesign and how even with the best of intentions, it risks loss of the intangible value of a business which can quickly translate to a very real and tangible business value decline.
Recognising the interrelatedness of changes to cost structure, people and business performance lies at the heart of their approach, in working with a wider group of organisational stakeholders to define and realise new value creation options whilst flushing out any value destroying activities.
Despite the involvement of a broader stakeholder group, this approach does not slow things down in making the shift, moreover their examples describe how double digit cost reductions and performance improvements are achieved in months, at scale.
Working through critical analysis of existing operations, drawing insights from competitors and benchmarks and redesigning the workflows with those who work within them, integrates the people within the change in deeper collaborative ways.
Of course the granularity and accuracy of plans is improved by involving the wider stakeholders in the effort, but the real differentiated uplift comes from how their involvement energises the organisation for the delivery of the identified actions.
The parallels to 1-2-10's own approach to organisational transformation are clear but the article is just the most recent example of an underlying shift in perspectives on organisational change, one which we're likely to see more of in the COVID-19 rebound.
That's not just a shift in the perspective of consulting firms but their response to an emergent wave of client recognition, that pursuing this route to future positioning and value creation in their business is key to their sustained future success.
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