Today's business leaders recognize transformation as the courageous choice required to deliver an ambitious business agenda. As we reported earlier this year, companies pursue transformation to reset the business, venture into areas of greater ambition, deliver bold growth, enable operating-model change, build new and competitive capabilities, and evolve their culture in ways that can set them apart from competitors. This article is a collaborative effort by Drew Goldstein, Louisa Greco, Rebecca Doherty, Sandra Sancier-Sultan, and Yolanda Zonno, with Preeya Mody, representing views from McKinsey's Transformation, Strategy and Corporate Finance, and Growth, Marketing & Sales Practices. What is transformation' We define it as a process that begins with a bold ambition'supported by a fact base and informed by an external lens'driving strategic choices that fundamentally change how an organization operates to realize significant improvements in performance, including innovation and...
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