Change Management Compass 2023
What C-level executives can learn from outstanding companies
Marc Zacherl | Dr. Wolfgang Freibichler | Nicole Beger | Nicolas Christiansen
Dec 2022
| Study
| English
Change Management Compass 2023
What C-level executives can learn from outstanding companies
Two-thirds of Germany's largest companies are facing fundamental changes. However, seven out of ten companies indicate that their transformation projects will fail and they cannot meet their strategic agendas and economic targets. But not all top managers share this fate. What distinguishes successful transformations from the more than twice as frequent failures? How can transformations succeed?
Based on a survey of over 100 managers from Germany's largest companies, the Porsche Consulting Change Management Compass 2023 identifies the most important factors for successful transformations. The Compass highlights emerging trends and offers practical recommendations for decision-makers. Especially the 5 Forces of Change are a crucial guideline and valuable basis for shaping future transformations.
Management Summary
- Managers assess that 69% of transformations fail due to insufficient change management
- Successful CEOs apply a significantly different approach to change management than the majority does
- Strategic change management must be a personal priority for the CEO – 81% of successful CEOs actively lead transformations
- Change communication must be conducted across a multitude of channels – as practiced by 83% of successful CEOs
- Self-directed learning must replace more rigid, directed learning curricula – otherwise, the likelihood for transformation failure increases significantly
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