“Tyco and Johnson Controls each had a lot of legacy, but we still needed to blend multiple cultures together and reformulate it in such a way that the combined companies were in a position to win,” he says. Stepping into the CEO’s role in September 2017, Oliver was convinced that small, discreet changes would not fix what was ailing the company.

“But there are companies out there undergoing real transformations that are creating a sense of urgency, resiliency and momentum to deliver material and sustainable results.”įor George Oliver, chairman and CEO of Johnson Controls, a building technology and solutions company, the transformation challenge was as clear as it was big: Make the 2016 merger of Johnson Controls and Tyco more cohesive, with a unified strategy and a leadership team all moving in lockstep. “Transformation is one of the most overused terms in business,” says Harry Robinson, a Los Angeles-based senior partner with McKinsey & Company. The good news is that there are companies doing this kind of transformation successfully, and business leaders can learn from their wins. It’s the only path to elevating financial performance, building capabilities and changing culture in ways that will not only get companies through this global health crisis but sustain them in the years ahead. True transformation-the kind that alters the way a business operates on a cellular level-is what’s needed in today’s uncertain climate. That’s because if business models and mindsets don’t shift, those costs will just creep back. These are extraordinary times, and inevitably they have required some companies to lean into these challenges by slashing costs, reducing headcount and halting investments to conserve cash.īut to thrive in the Next Normal, companies need to make more fundamental changes. But there isn’t a CEO or management team on earth that’s experienced the health, financial and operational headwinds that have resulted from the coronavirus pandemic. (132 pages)īusiness leaders pride themselves on their ability to pivot and course-correct in times of crisis and economic turmoil. This collection is the second of five edited volumes to accompany our multimedia series, airing on CNBC, focusing on the forces shaping the next normal.

Back to school transformation needs