With increased commoditisation, pressure on growth and margins are forcing companies to think outside the box when it comes to their services. Service businesses need savvy new programs, which allow them to evolve quickly and nimbly – they need to create new customer-oriented offerings, quickly adapting to changing markets. However, navigating the right path to service transformation isn’t always straightforward. Most common approaches, Big Bang and Incremental, carry risks and yield surprisingly low success rates.
There’s an alternate path however, increasingly being adopted by today’s more successful and forward-looking service organisations: ‘The Service Factory’. It is an agile and stepped approach to change, but offers quantum leaps at limited risk.