The Key Elements to a Successful Transformation

BoQ's Michael Bromley explores the essential aspects in successfully transforming.

Michael Bromley, BoQ
Michael Bromley, BoQ

Transforming your company is no easy task – it requires a complete overhaul of your culture, your processes and your thinking to enable more efficient, effective mechanisms.

This was the topic Michael Bromley, the Digital & Innovation Change Agent for the Bank of Queensland, confronted in his opening keynote for CxO Disrupt, Melbourne.

Exploring a few essential aspects in driving transformation throughout the entire organisation.

He started by emphasising the need for a completely changed motivation and structure throughout each team. Explaining the need for organisations to value purpose and collaboration above a motivation of profit and outdated ways of structuring your employees.

“We’re trying to move organisations that think primarily about profit and move them to purpose; trying to move from hierarchical structures to a networking structure.”

“Creative thinkers are critical to real transformation.”  – Michael Bromley

In recreating this structure and drive, comes the need to incorporate creativity, the backbone of any innovative organisation. Bromley spoke on his previous experience at IAG and the importance of diversity across all levels of the company.

“When we started to think about bringing creativity into the organisation, we realised we needed diversity of thought, background and experience. Creative thinkers are critical to real transformation.”

Bromley advised against creating ‘labs’ that are standalone, positioned away from and in isolation of the rest of the company. Adding that creating an environment where it’s safe to fail helps teams, as failure can create a data point that you didn’t have yesterday, presenting lessons to learn from.

Finally, leadership is critical to any transformation, with Bromley highlighting the difference between those who lead and those who merely direct those around them.

“Stepping out of the way and letting the people around you make decisions is leadership. Telling them what to do is direction.”

Revealing empowering teams to achieve on their own will provide the best results for an entire company.

It’s clear to see that transformation is a tough but rewarding journey. If undertaken correctly, the self-disruption of a company can lead to new heights and new insights being gleamed.