September 2013 - Best of the West Newsletter
More and more, we see companies fighting to remain competitive in today’s fast paced world.
Date : September 27, 2013
These principles for improving efficiency and productivity have revolutionized how companies operate and are still a fundamental component of many successful organizations.  But is this type of change good enough?

To our clients and friends,

More and more, we see companies fighting to remain competitive in today’s fast paced world. Even firms with a strong track-record of success that have become very good at continuous improvement now struggle to make the bigger changes required to survive.

No question, continuous improvement has been good for business, and for many years. This concept of incremental change is rooted in kaizen – which literally means “good change” – and is demonstrated through widely-accepted methodologies such as Lean and Six Sigma. These principles for improving efficiency and productivity have revolutionized how companies operate and are still a fundamental component of many successful organizations. But is this type of change good enough?

Go big, or go home.

Regulation, technology, and changing consumer expectations are just a few of the factors pushing today’s enterprises toward transformational rather than incremental change – and companies lagging to make these bold moves could very well be left behind.

Over the past several years, broad business transformation – the type that touches every part of an organization - has become central to what we do at West Monroe Partners. We see its impact in all industries but particularly in healthcare, utilities, financial services and others that are going through rapid and complex evolution. The sheer pace of change within these markets means companies that rely solely on incremental change to improve their business will likely find themselves sitting on the sidelines.

Game-changing transformation.

Our industry teams have responded by developing solutions that directly support key elements of transformation—mergers and acquisitions; customer experience, the primary lens through which much of today’s transformation is taking place; operations excellence; and data and analytics, which are instrumental in helping companies look forward rather than backward.

We expand on this perspective about transformational versus incremental change in this newsletter. It’s a critical topic we know is top of mind for many of our clients as they look at the road ahead. We hope you find the discussion relevant.

We’ve also highlighted several other current topics:

As always, we welcome your thoughts and are more than happy to discuss your questions and challenges.

Dean

As the economy continues its slow and steady rebound, so too has merger and acquisition (M&A) activity. Both private equity and corporate investors once again are looking for opportunities to grow through targeted acquisitions.

Companies that rely on a “continuous improvement” or “incremental change” approach may be simply putting a bandage on the issue that will decide their future.
Many companies believe they are customer-centric and focused on improving their customer experience, but do they have the measurement(s) in place to be sure?
Some recent studies have shown an actual decline in the number of companies utilizing PMOs. The irony of the situation is that the desire and necessity for businesses to transform to meet ever changing market forces is only increasing.
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