'Change before you have to', famously advised General Electric's champion chairman Jack Welsh. In today’s stressed economy, service organisations wanting a chance at survival know they need to embrace change to stay relevant and contemporary. With the increased commoditisation of products and product-related services, pressure on growth and margins are forcing companies to think outside of the box when it comes to delivering their services.
Service businesses need savvy new programmes, which allow them to evolve quickly and nimbly. Today there's more pressure than ever to create new customer-oriented offerings, which can adapt quickly to changing markets. However, navigating the right path to service transformation isn’t always straight-forward, particularly because the most common approaches (Big Bang and Incremental), carry a multitude of risks and yield surprisingly low success rates.
There exists an alternate path however, and it’s the one increasingly being adopted by today’s more successful and forward-looking service organisations. The Service Factory is an emerging and agile approach to change —it’s a stepped approach but offers quantum leaps forward in service transformation and at limited risk.