How can we understand transformation, especially in the context of finance? Our world is rapidly changing and all organisations need to keep apace. How can we take advantage of new methodologies and innovations to make finance fit for the future?
Transformation. What does this even mean? An act, process, or instance of transforming or being transformed. But what does ‘transforming’ mean? To change in composition or structure. And change? To make radically different: transform.
And so, the circle continues.
One thing we can gather from this is that transformation isn’t straightforward and that perhaps there’s no consistent explanation for what it is, as it means different things to different people and means different things to different organisations.
While the world of transformation is by no means standard, with the right approach, this mammoth task can be addressed, and it can be successful. To do this, though, we need to assess the many pieces of the transformation puzzle and consider what’s needed to construct it. When we do this, we are able to carefully consider the purpose of the initiative and the people who are needed to piece the transformation together. This, however, is easier said than done, because making things ‘radically different’ takes an immense investment of time and effort from the very individuals driving the transformation. Sustaining their performance becomes paramount, alongside the challenge of preserving motivation and engagement throughout these often prolonged initiatives, spanning from months to years. The path to success lies in navigating these obstacles with unwavering determination.
