{"id":705,"date":"2020-12-01T15:49:29","date_gmt":"2020-12-01T14:49:29","guid":{"rendered":"http:\/\/globalbusinessacademy.hosting-cluster.nl\/?p=705"},"modified":"2021-06-29T15:44:26","modified_gmt":"2021-06-29T13:44:26","slug":"transformation-part-1-the-law-of-evolution","status":"publish","type":"post","link":"https:\/\/globalbusiness.academy\/india\/2020\/12\/01\/transformation-part-1-the-law-of-evolution\/","title":{"rendered":"Transformation (Part 1): The Law of Evolution"},"content":{"rendered":"<a href=\"https:\/\/www.ssonetwork.com\/talent-management-leadership-and-culture\/columns\/transformation-the-law-of-evolution\" target=\"_blank\" class=\"button primary\" rel=\"noopener\"  >\n\t\t<span>Link to SSON network<\/span>\n\t<\/a>\n\n\t<div id=\"gap-1088350676\" class=\"gap-element clearfix\" style=\"display:block; height:auto;\">\n\t\t\n<style>\n#gap-1088350676 {\n  padding-top: 30px;\n}\n<\/style>\n\t<\/div>\n\t\n<p class=\"p1\"><span class=\"s1\"><b>This<\/b><\/span><span class=\"s2\"><b> column is co-written by Sebastiaan Laurijsse, Senior Director IT &amp; Digital Transformation Manager at NXP and Ilse Kerling, Founder of Global Business Academy. <\/b><\/span><\/p>\n<p class=\"p1\"><span class=\"Apple-converted-space\"><img loading=\"lazy\" decoding=\"async\" class=\"alignnone wp-image-604\" src=\"https:\/\/globalbusiness.academy\/india\/wp-content\/uploads\/sites\/2\/evolution-3801547_640.jpeg\" alt=\"\" width=\"526\" height=\"268\" \/><\/span><\/p>\n<p class=\"p1\"><span class=\"s1\"><b>Darwin&#8217;s evolution<\/b><\/span><\/p>\n<p class=\"p2\"><span class=\"s1\">&#8220;If the rate of change on the outside exceeds the rate of change on the inside, the end is near,&#8221; said Jack Welch, years ago.<\/span><\/p>\n<p class=\"p2\"><span class=\"s1\">In these times of AI, RPA, data science, blockchain and virtual agents, this saying is becoming more relevant than ever before.<\/span><\/p>\n<p class=\"p2\"><span class=\"s1\">The only difference is that we have so much technology, at such low costs, that we can\u2019t speak of Jack Welch\u2019s \u2018change\u2019 anymore. Given the huge amount of technology and, not to forget, the ever more demanding consumer, the rate of change experienced is so high that companies\u00a0<i>have<\/i>\u00a0to transform.<\/span><\/p>\n<p class=\"p2\"><span class=\"s1\">For a long time, the law of the strongest prevailed. Multinationals seemed undefeatable. But this has been replaced by Darwin\u2019s law of evolution. Speed is crucial: it is the survival of the\u00a0<i>fastest<\/i>. If you are not first to market, the potential for future revenue may begin to evaporate.<\/span><\/p>\n<p class=\"p1\"><span class=\"s1\"><b>US$900 billion<\/b><\/span><\/p>\n<p class=\"p2\"><span class=\"s1\"><i>While cash is still king<\/i>\u00a0during the pandemic, digital transformation is so important that globally,\u00a0<a href=\"https:\/\/www.helpnetsecurity.com\/2020\/05\/26\/dx-spending\/\" target=\"_blank\" rel=\"noopener\"><span class=\"s2\">companies have spent $1.3 trillion on it this year alone<\/span><\/a>.<\/span><\/p>\n<p class=\"p2\"><span class=\"s1\">So, the money is there. The technology is there. So why is it that, according to McKinsey,\u00a0<a href=\"https:\/\/www.mckinsey.com\/industries\/retail\/our-insights\/the-how-of-transformation\" target=\"_blank\" rel=\"noopener\"><span class=\"s2\">70% of all transformations miss their goals?<\/span><\/a>\u00a0That translates to $900 billion for this year alone.<\/span><\/p>\n<p class=\"p2\"><span class=\"s1\">Before we examine the answer, let\u2019s reflect: What does this $900 billion mean to you? How much money have you allocated to transformation? If an average of 30% is successful, what are the risk investments? And what does that risk mean for the future of your company?<\/span><\/p>\n<p class=\"p2\"><span class=\"s1\"><b>Back to the main question: With such an abundance of money and technology, why do 70% of transformations still miss their target?<\/b><\/span><\/p>\n<p class=\"p2\"><span class=\"s1\">You probably know the answer:\u00a0<i>people<\/i>\u00a0and\u00a0<i>culture<\/i>. But why is that so challenging? Sebastiaan Laurijsse, Senior Director IT &amp; Digital Transformation Manager at NXP, offers some explaination: &#8220;<i>Transformation is not the singular goal,&#8221;\u00a0<\/i>he says. And he is right. Transformation is a\u00a0<i>tool<\/i>\u00a0to reach your goals. The benefits \u2013 whether to increase sales, produce at lower cost, or reduce time to market \u2013\u00a0<i>those<\/i>\u00a0are the goals.<\/span><\/p>\n<p class=\"p2\"><span class=\"s1\">Seen from an internal context: You need to ensure that the new ways of working are adopted so that you can develop at lower cost or need fewer resources. There is always a goal to accomplish.<\/span><\/p>\n<p class=\"p2\"><span class=\"s1\">Goals are often measured in revenue and costs. Experienced shareholders look at the return on investment, however: How much revenue is generated from every CapEx dollar? If you can influence the metrics of the market, you will gain shareholder interest. That means more investors and more liquid assets.<\/span><\/p>\n<p class=\"p4\"><span class=\"s3\"><b>Next week:\u00a0<\/b><a href=\"https:\/\/globalbusiness.academy\/india\/geen-categorie\/transformation-part-2-the-crucial-role-of-the-cfo\/\"><span class=\"s4\"><b>The crucial role of the CFO<\/b><\/span><\/a><\/span><\/p>\n<p class=\"p2\"><span class=\"s1\">In the next article we will look at the crucial role of the CFO and the skills that CFOs need to improve the success of transformation initiatives.<\/span><\/p>\n<div class=\"row\"  id=\"row-2053487658\">\n\n\t<div id=\"col-1094839089\" class=\"col medium-5 small-12 large-5\"  >\n\t\t\t\t<div class=\"col-inner\"  >\n\t\t\t\n\t\t\t\n\t<div class=\"img has-hover x md-x lg-x y md-y lg-y\" id=\"image_1890047679\">\n\t\t\t\t\t\t\t\t<div class=\"img-inner dark\" >\n\t\t\t<img loading=\"lazy\" decoding=\"async\" width=\"747\" height=\"747\" src=\"https:\/\/globalbusiness.academy\/india\/wp-content\/uploads\/sites\/2\/sebastian.jpeg\" class=\"attachment-large size-large\" alt=\"\" srcset=\"https:\/\/globalbusiness.academy\/india\/wp-content\/uploads\/sites\/2\/sebastian.jpeg 747w, https:\/\/globalbusiness.academy\/india\/wp-content\/uploads\/sites\/2\/sebastian-300x300.jpeg 300w, https:\/\/globalbusiness.academy\/india\/wp-content\/uploads\/sites\/2\/sebastian-100x100.jpeg 100w, https:\/\/globalbusiness.academy\/india\/wp-content\/uploads\/sites\/2\/sebastian-600x600.jpeg 600w, https:\/\/globalbusiness.academy\/india\/wp-content\/uploads\/sites\/2\/sebastian-400x400.jpeg 400w\" sizes=\"auto, (max-width: 747px) 100vw, 747px\" \/>\t\t\t\t\t\t\n\t\t\t\t\t<\/div>\n\t\t\t\t\t\t\t\t\n<style>\n#image_1890047679 {\n  width: 50%;\n}\n<\/style>\n\t<\/div>\n\t\n<div class=\"row\"  id=\"row-187838746\">\n\n\t<div id=\"col-1070804531\" class=\"col small-12 large-12\"  >\n\t\t\t\t<div class=\"col-inner\"  >\n\t\t\t\n\t\t\t\n<h4><a href=\"https:\/\/www.ssonetwork.com\/contributor\/sebastiaan-laurijsse\" target=\"_blank\" rel=\"noopener\">Sebastiaan Laurijsse<\/a><br \/>\nSenior Director IT &amp; Digital Transformation Manager NXP<\/h4>\n\t\t<\/div>\n\t\t\t\t\t<\/div>\n\n\t\n<\/div>\n\t\t<\/div>\n\t\t\t\t\t<\/div>\n\n\t\n<\/div>\n","protected":false},"excerpt":{"rendered":"<p>This column is co-written by Sebastiaan Laurijsse, Senior Director IT &amp; Digital Transformation Manager at NXP and Ilse Kerling, Founder of Global Business Academy. Darwin&#8217;s evolution &#8220;If the rate of change on the outside exceeds the rate of change on the inside, the end is near,&#8221; said Jack Welch, years ago. In these times of<\/p>\n","protected":false},"author":4,"featured_media":869,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[57],"tags":[36,34,35],"class_list":["post-705","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-transformation","tag-cultural-transformation","tag-evolution","tag-pandemic"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v28.6 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>Transformation (Part 1): The Law of Evolution - India Business Academy<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/globalbusiness.academy\/india\/2020\/12\/01\/transformation-part-1-the-law-of-evolution\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Transformation (Part 1): The Law of Evolution - India Business Academy\" \/>\n<meta property=\"og:description\" content=\"This column is co-written by Sebastiaan Laurijsse, Senior Director IT &amp; Digital Transformation Manager at NXP and Ilse Kerling, Founder of Global Business Academy. 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