Transforming Business—Successfully

"Enterprises everywhere are experiencing the 'business outcome gap.' The business outcome gap can be defined as the difference between desired business outcomes and realized business outcomes. Desired outcomes are changing in response to rapidly evolving stakeholder needs, whether the stakeholders are employees, customers, or shareholders. Globalization, disruptive technologies, smart devices, and social media have all had a profound effect on how we approach work and get important programs done. While realized outcomes may be improving, for most enterprises the increase in desired outcomes is far outstripping the realized. Not only do enterprises see a business outcome gap, but also the lack of innovation to stay relevant to the dynamic needs of the customer and market. In order to close the business outcome gap, constantly innovate, and get more customer centric, enterprises are increasingly embarking on business transformation programs or large-scale strategic projects. However, according to a recent study, organizations lose an average of a staggering $109 million for every $1 billion spent on projects."