HBR's 10 Must Reads Boxed Set (Updated + Expanded, 6 Books)

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Transformations That Work

by Michael Mankins and Patrick Litre

Nearly every major corporation has embarked on some sort of transformation in recent years. By our estimates, at any given time more than a third of large organizations have a transformation program underway. When asked, roughly 50% of CEOs we’ve interviewed report that their company has undertaken two or more major change efforts within the past five years, with nearly 20% reporting three or more.

Unfortunately, most transformation programs aren’t all that transformative. Though they typically start with great fanfare—complete with big announcements and proclamations of wholesale change—most fail to deliver. Our research indicates that only 12% of major change programs produce ...