There are many reasons organizations undergo transformation and change, ranging from crises and performance gaps to M&A, new technologies, evolving customer tastes, and even changing for the sake of change—often when a new CEO takes the reins.
Whatever the cause, even a quick scan of research from leading experts and academics presents a bleak picture of the results. According to Bain & Company, only 12% of companies that undergo transformations fully accomplish their goals. Other research suggests that 70% of change programs fail and that most organizations struggle mightily to break free from the status quo—even when industry disruption demands it. Transformation is often a losing battle.
