Businesses in Japan find themselves at a pivotal inflection point. Economic and social changes are motivating companies to accelerate their business transformations. But navigating change is not easy.
While many companies in Japan have executed transformations, most attempts failed to meet their objective. EY’s study found though that executing change management activities have a positive impact on success rate. Having engaged employees, for example, was found to be one of the key success factors and companies that focused on change management efforts were more likely to have supportive employees.
Many companies anticipate cross-functional transformations and significant changes in business strategy in the coming years. These types of transformations tend to be more complex and challenging, so having change management resources and capabilities to achieve a successful transformation is more important than ever before.