Tag: BizChange

Digital transformation

Digital transformation is everywhere.  There are blogs dedicated to it.  Companies like Forbes, Harvard Business Review, Accenture, Forrester, Deloitte and EY have all published articles, surveys and commentaries about it.  But what actually is it? Although definitions of Digital Transformation differ between companies, executives, industries and sectors, the common thread seems to be: “Digital transformation…

The Sunk Cost Fallacy

“Individuals commit the Sunk Cost Fallacy when they continue a behaviour or endevaour as a result of previoulsy invested resources.” (Arkes & Blumer, 1985) If we’re honest, I suspect that we would all like to think that given a situation and presented with a choice, we would make a rational decision, based on the future…

Small change does not mean low risk …

All change has inherent risk, regardless of how “insignificant” the change appears to be.   Small change does not mean low risk. Most of the organisations I have worked for over the years have had some way of categorising change initiatives, based on their scale. In some, for example, “scale” was simply a function of…