WHY IS THERE SUCH A HIGH FAILURE RATE IN BUSINESS TRANSFORMATION TODAY?

The true number of business transformation project failure is underreported. Depending on which research you follow, the figure is between 70% – 80% of business transformation projects end in failure. There is five (5) main causes in business transformation failure are – lack of stakeholder involvement, lack of senior stakeholder support, changing requirement, incomplete requirements and poor planning.

WHAT IS WRONG WITH EXISTING APPROACHES?

Nothing. They are good at the purpose they were designed for, except they are now used for a different purpose, and that is not the original purpose they were designed for. Look at TOGAF® (The Open Group Architecture Framework) for example – it’s a framework for managing ‘technology’ or ‘technology changes’. It is not surprising, it was written by a “technology standards company”. They know and understand technology. What is happening is, TOGAF® is being used in business transformation projects that the ‘framework’ to manage the ‘transformation’, but it only focuses one thing – technology. It doesn’t focus on anything else other than Technology (it almost completely ignores, the other two (2) important aspects of the organisation – People, and Process(es)). It also ignores how to transition the business from the current state, to its desired future state. It effectively put the Technology stakeholders in the drivers set, to dictate to the Business what they think they want and literally throw it over the fence to the Business for them to work out if first it is fit for purpose, and then how to use and implement it.

HOW DOES HOBA® SOLVE THE PROBLEM IN BUSINESS TRANSFORMATION TODAY?

HOBA® solves the 70% failure rate in business transformation problem by addressing the causes that problem in the first place – by putting the Business back into control, to take control back from Technology and into their own hands, using a structured process and framework that was developed WITH the Business, BY the Business, to be USED and OWNED by the Business, putting the control back into their own hands.

WHAT IS THE BIGGEST PROBLEM WITH BUSINESS TRANSFORMATION PROJECTS AND HOW DOES HOBA® HELP?

The biggest problem with business transformation projects is firstly the name. “Business Transformation” is incorrectly called or referred to as “Digital Transformation”. ‘Digital Transformation’ is a misnomer, it is not ‘digital’ per se that is ‘transforming’, it is the ‘Business’ that is transforming, and how it does or is doing that in this period of time is via ‘digital technologies’ (if ‘technology’ isn’t already digital, what were they before?). What this intentional confusion in the marketplace is causing, is it causes is an incorrect bias and focus on the ‘technology aspect’ only of the transformation, which by doing so completely ignores the Business aspects – that’s the Business Operations Stakeholders and their concerns, and the Processes those stakeholders carry out. HOBA® helps by putting the Business back in to control, to be very clear and structured with what is the Vision, Strategy, Objectives and Measures, what stakeholders are involved and need to be involved in the transformation and their decision making authority, the process to manage those decisions, scope and risks; what are the problems they want to address or opportunities they want to take advantage of; what benefits they want to realise from the transformation and when; what the future or Target Operating Model (TOM) needs to look like to achieve their Vision and Strategic Objectives and business benefits, and how and when will the changes be implemented. Everything and nothing more, only doing what needs to be done, to transform the business, not doing what is happening in the marketplace today and that is ‘creating reams and reams of colourful models and diagrams, that while beautiful, are in reality just “interesting but (sadly) useless”.

WHAT IS THE DESIGN PROCESS?

The Design Process is the 6-Step process used to implement HOBA® and manage the transformation from the very start, to the very end, implementation.

WHAT IS THE BIGGEST MISCONCEPTION IN THE MARKETPLACE?

The biggest misconception in the marketplace today with business transformation is that Clients are led to believe that they need ‘reams and reams’ of pretty colourful presentations to transform your business. This is a fallacy. This only creates expensive shelf-ware. What those ‘pretty presentations’ are designed for is to enable the transformation project to keep moving toward its end goal, transforming the Business. What the Clients are led to believe is those ‘pretty presentations are the actual goal of the project, and often celebrated and hang up on the project office wall with great bravado as if they were the goal of the transformation itself! What those ‘pretty presentations’ actually need to be is two (2) things – first, is they need to be understandable, and written in a language that the Business understands, so first they can understand what it and they mean, and then they can agree to it. Then second, then they need to be useful. A lot of Consultants and Consultancy’s wanting to impress their clients with great marketing, pretty presentations and long list of impressive acronyms and latest “it” words, but this just confuses the Client. What happens is the Consultants will present their ‘ideas’ (because that’s what they are, they have had one meeting with the Client, interpreted that into their own words and perspectives, and come back to them several weeks and months later, having not consulted with them through the process, thinking ‘they know their Clients business best (they don’t, the Client does!) and play back their 300+ page power-point presentation that looks impressive), they present it to the Client, the Client has no idea what it means or says (its written in a foreign language, literally), due to the time it’s taken, and the money it has cost at that point, the Client agrees to it in the room, then walks out the room, and completely ignores everything the Consultant(s) said. The transformation goes nowhere. HOBA® solves that problem, refer to the first question above.

HOBA® is trusted by the UK Government, FTSE-100 companies and start-ups to both set up, and also turnaround their failing transformations. HOBA® is used by thousands around to transform their business, and was made public for the first time in late 2018, after over 10+ years in use with private clients, published in The Business Transformation Playbook – How to Implement Your Organisations Target Operating Model (TOM) and Achieve a Zero-Percent Failure Rate Using the 6-Step Agile Framework’, reaching bestseller on Amazon in 6-categories including Project Management and Consulting, and made it onto the Best Business Strategy eBook List of All Time by BookAuthority, at no.30 (March 2021). See News for details.

CAN I READ A PREVIEW OF THE BUSINESS TRANSFORMATION PLAYBOOK?

Yes, you can download a FREE preview to The Business Transformation Playbook here.

ChatGPT: The Next Big Thing for Business Transformation?

By Heath Gascoigne
January 15, 2023
Business Transformation, Design Process
Post Views: 1,052

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In this article, we will discuss Chat GPT, what it is, and how it help (specifically, how can it help your organisation with its business transformation).

If you want to transform your business or help your clients transform theirs and want to do it quicker, with less resistance, then this is for you.

Artificial intelligence (AI) and machine learning (ML) have become increasingly popular in recent years, with more and more companies looking to implement these technologies to drive business transformation and stay competitive.

One of the most talked-about AI tools recently is ChatGPT, a powerful language generation model developed by OpenAI. In this blog post, we’ll look at what ChatGPT is, what makes it special, and its potential for driving business transformation.

👏 "Heading into the future with ChatGPT like... 🎯🚀 #ChatGPT #AIRevolution #BusinessTransformation #NextBigThing"

Heath Gascoigne Tweet

What is ChatGPT?

ChatGPT is a language generation model that uses deep learning techniques to generate human-like text.

It is based on transformer architecture and is trained on massive data to produce highly coherent and fluent readers.

The model can be fine-tuned for various language-based tasks, including language translation, text summarization, and text completion.

One of the most notable features of ChatGPT is its ability to generate highly coherent and contextually appropriate text, even when given just a few words or prompts as input.

What makes ChatGPT special?

There are a few things that set ChatGPT apart from other AI tools. Firstly, its training data is significantly larger than that of different models, which means it can generate more coherent and fluent text.

ChatGPT’s transformer architecture also allows it to effectively handle longer text inputs and maintain context better than other models.

6-Steps to Business Transformation Success

WHAT THE TOP 30% OF ORGANISATIONS KNOW THAT YOU DON’T 👉

👏 "What makes ChatGPT special? There are a few things that set ChatGPT apart from other AI tools. Firstly, its training data is significantly larger than that of different models, which means it can generate more coherent and fluent text. ... 🎯🚀 #ChatGPT #AIRevolution #BusinessTransformation #NextBigThing"

Heath Gascoigne Tweet

Where is ChatGPT on the Gartner Hype curve?

First of all – what is the Gartner Hype Curve?

The Gartner Hype Cycle is a graphical representation of the maturity, adoption, and social application of specific technologies. The Hype Cycle provides a graphical and qualitative overview of a specific market at a certain time, allowing one to identify a specific technology, trend, or application and its relevance in business and society.

ChatGPT is likely in the peak of Gartner’s Hype Cycle, where the technology is being heavily hyped and expected to bring a wide range of capabilities but is still in the early stages of adoption, and there are still many challenges to be overcome.

Is ChatGPT the next big thing for business transformation?

It certainly has the potential to be. ChatGPT can be used for many business applications, including automating customer service, creating chatbots, and even writing emails and social media posts.

Its ability to generate highly coherent and contextually appropriate text can help businesses improve their customer service, reduce costs, and improve overall efficiency.

Is implementing Chat GPT or an AI tool as simple as it looks?

While ChatGPT is a powerful tool, it has its challenges. Training and fine-tuning the model requires significant data and computing power.

Additionally, implementing ChatGPT in a business setting can be complex and may require considerable time and resources.

What is the marketing hype not telling you?

While ChatGPT and other AI tools have the potential to drive business transformation, it’s essential to keep in mind that they are not magic solutions for all problems.

Additionally, it’s important to be aware that there are limitations to what these tools can do and that they may only be appropriate for some businesses.

Additionally, it’s important to keep in mind that there may be ethical concerns surrounding the use of AI in business, such as potential biases in the data used to train the model and the impact on jobs.

Business Transformation 101

Confused where to start? Get started right 👉

👏 "ChatGPT wields remarkable power, but where does it stand on the Gartner Hype Curve? Care to venture a guess?" 🤖💬 #ChatGPT #GartnerHypeCurve #AIInnovation #TechTrends

Heath Gascoigne Tweet

Conclusion: ChatGPT is Powerful!

In conclusion, ChatGPT is a powerful tool with the potential to drive significant business transformation. Its ability to generate highly coherent and contextually appropriate text can help businesses improve customer service, reduce costs, and increase overall efficiency.

However, it’s important to remember that implementing ChatGPT or any AI tool is challenging. Training and fine-tuning the model requires significant data and computing power.

Additionally, the implementation of ChatGPT in a business setting can be complex and may require a substantial investment in terms of time and resources.

Moreover, it is always important to remember that AI is not a one-stop solution, and it’s vital to clearly understand what an AI tool can and cannot do and whether it is the right fit for a business.

Overall, ChatGPT is a promising technology that has the potential to bring significant benefits to businesses, but its implementation requires careful consideration and planning.

About HOBA Tech

If you liked what you read, learn more about Business Transformation and how to bring it to reality with less stress, less effort, less time, less cost, and higher profit.

Learn about our award-winning agile Business Transformation framework, already used by thousands across the world to transform their business, including the UK Government, FTSE 100 Companies and start-ups, check it out here.

If you want to read why others are calling The Business Transformation Playbook the “Business Transformation Bible,” read the reviews on Amazon here.

Hope you find that useful. If you did, let me know in the comments below what you like and would like to see next, and share this with anyone you think would benefit from it!

Thank you for reading this!

Sincerely,

Heath Gascoigne

P.S. If you want to join our Business Transformator community of 2,000+ like-minded Business Transformators, join the community on the Business Transformator Facebook Group here.

P.P.S. If you want to learn more about business transformation, check out The Business Transformation Playbook here.

Heath Gascoigne

Hi, I'm Heath, the founder of HOBA TECH and host of The Business Transformation Podcast. I help Business Transformation Consultants, Business Designers and Business Architects transform their and their clients' business and join the 30% club that succeed. Join me on this journey.

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