https://hbr.org/2017/05/what-the-best-transformational-leaders-do
I found this article to be very good. It is research based and can therefore be taken seriously. For those with little time here are extracts that summarize the essence of the findings:
They
Strategically Pursue Two Separate Journeys
a.“Success
requires re-positioning the core business while actively investing in the new growth business”
b.“Apple
serves
as the classic model of such “dual transformation.” With the iMac and iBook, Steve
Jobs reinvigorated the core Macintosh franchise by
injecting a new sense of design and rethinking what computers would be used for
in the age of the
internet. On
a separate track, he launched the device and content ecosystem, starting with
iPod and iTunes,
that would become
the company’s
new growth engine”
They
Use Culture Change to Drive Engagement
a.“In the old
world
(Microsoft required), large teams would work
for years
on
the next major version of a franchise program like
Windows and Word, leading to a risk-averse environment. In
the new world of “infrastructure on demand,” dozens
of
new features
and improvements would need to be introduced per month ...
This
required a culture of risk taking and exploration”
They
Communicate Powerful Narratives About the Future
a.“To change
the culture and move into new growth areas, the CEO
needs to become “the storyteller in chief,” says Aetna’s Mark Bertolini.
That means telling different aspects of the same transformation narrative to
all the constituencies and stakeholders in the company”
b.“It’s
easy to underestimate
the amount of communication that is
needed... You
have
to be tireless about it, consistent and persistent...”
They
Develop a Road Map Before Disruption Takes Hold
a.“Many
of
the most notable disrupted companies — from Blockbuster, to Borders, to
Blackberry, to Kodak — ran into their
deepest troubles
a decade or more after some of the first warning signs appeared.
None of their leaders developed effective transformation plans
in time to halt the decline”
