New IFT research highlights the impact of operational experts in supporting and transforming businesses for stability and growth

The Institute for Turnaround (The IFT) publishes new research outlining the role and impact of IFT expert members in preserving and generating value for UK businesses through operational change and transformation.

Based on a survey and in-depth interviews, the report “Adapt, Transform, Succeed: A guide to business transformation approaches in the UK” highlights the breadth of operational solutions and actions, and the outcomes these can generate, both for individual organisations and the UK economy as a whole.

It sets out how operational approaches can be used across sectors and sizes of business, best practice approaches, including to managing stakeholders, and case studies of real-life impact.

The research demonstrates:

• The use of operational transformation approaches across a range of sectors, from manufacturing to pharmaceutical, encompassing central government and public sector, and retail and casual dining, with 69% of respondents sector-agnostic in their work.
• The range of situations where operational approaches can be used, from business rescue to project management and strategic transformation.
• Holistic and financial outcomes from operational transformation:
• The most significant outcomes from operational projects from the survey were increased profitability (cited by 79%), followed by cost savings (64%), closely followed by culture change and more effective management/governance (62%)
• In the last 12 months, survey respondents had saved over 8000 jobs through operational turnaround and transformation, and many had also created new jobs.

The above findings address some common misconceptions about operational turnaround and transformation, such as that it is only about cost savings.

The report also covers the role of experts such as IFT members and partners in driving forward operational transformation, with IFT independent members often taking managerial or Board responsibility for projects, and key trends shaping future of operations, including technology.

Milly Camley, CEO of The IFT commented:

“Supporting businesses to effectively manage how they operate and adapt to meet challenges and take advantage of opportunities is especially important in a period of ever-accelerating change. This report highlights the range of work that IFT members and partners do to preserve value and drive growth, which includes working hands-on in a business to support operational improvement and deliver positive benefits for the organisation, stakeholders and the economy”.