The traditional top-down approach to business transformation may no longer be effective, with only a small fraction of transformations delivering lasting results. While top-down directives can help cut costs and improve efficiency, they are not typically successful in creating significant improvements in business performance. Instead, companies should embrace a more collaborative approach that harnesses the collective wisdom of middle managers and teams. By empowering these individuals to sponsor transformative changes and come up with innovative ideas, companies can identify and develop the next generation of leaders. Rewarding bold action and results is essential to drive successful transformation, requiring a reexamination of every aspect of the business to achieve breakthrough results.
