How would you know that you are solving the right problem?
As published in one of the Harvard Business Reviews in early 2017, in surveys of 106 C-suite executives who represented 91 private and public-sector companies in 17 countries, it was found that a full 85% strongly agreed or agreed that their organizations were bad at problem diagnosis, and 87% strongly agreed or agreed that this flaw carried significant costs.
McKinsey is expert at problem diagnosis, once we indentify the right problem we have seen that the solution is less of a challenge. In today's digital world anything is possible as long as you can define "anything". Also we have learnt that any right solution is ultimately a mix of business as well as technology. Industry is moving towards business agility and it is not an easy job. Educating the business stakeholders and helping them understand the real value of agility is a task in itself. Also it is more complicated as it involves shifting the blocks which might have been there for years. As we all know, more risk leads to more gain and that is what we have seen here at McKinsey, as long as we get the right problem, focus and have that agile mindset, we are able to solve it. Would like to share the path we followed which led to success in these scenarios.
Apart from business agility, with experience, and working with brilliant McKinsey teams I have created some models which I will be delighted to present in the external world. One of the models I presented in Agile Gurgaon and is attached here through slideshare link.
Outline/structure of the Session
I was hoping 90 mins so that can make it more interactive with hands on activities but I see 45 mins option
Share industry stats - 5 mins
Share models that have worked - 20 mins
Case Study to have it in action - 20 mins, will be split into parts and extended in case I get 90 mins as this is the most essential part. Theory people forget but practical stays...and generates that "aha" moment.
Right problem identification frameworks
How to measure the impact to decide whether we need a business process change and/or digitization only?
Frameworks for measuring agility to decide
Key metrics and dashboards that can be used
People empowered to bring business tranformations or guide it
Beneficial if participants have been in the main scene of business problem diagnos and solving in the past.