Our research suggests only 15% of businesses worldwide currently meet the criteria to qualify as fit for growth. So, how can UK companies join this select grouping?
We’ve identified four steps that will enable them to do this:
First, understand and focus on capabilities which are required to deliver the company’s strategy – to understand which of the business’s capabilities are truly distinctive and will underpin its future growth.
Second, align the cost structure with these capability requirements – by protecting “good costs” and pruning “bad costs” while investing in the winning capabilities.
Third, reorganise for growth – hard-wiring the alignment between costs and strategy by building an organisation that can sustain cost reductions while also enabling and empowering managers to drive growth.
Finally, enable change and cultural evolution – putting the organisation’s culture to work, to foster a workforce that’s ready, willing, able and committed to change.