Lead to gold: Top 10 most transformative companies
What brings in a transformation?
It could be a financial crisis, a disruptive competitor, at times growth just hits a wall and sometimes it's simply the result of systematic planning for the future. A strategic transformation may be the leadership imperative of the 21st century. Innosight, by Huron, developed a methodology to evaluate strategic efforts, with the aim of identifying best practices across industries, that exemplify leadership excellence. One of the most notable name missing from the list is Apple, which underwent one of the most successful transformations in business history but is now focused on executing its existing strategy rather than aggressively enter new growth areas. Here are the top 10 of the 20 companies that brought in significant transformation in 2019.
Netflix: A stream of success
This company founded in 1997 shifted from DVDs by mail into a leading streaming video content service and now is a top original content provider. Its original shows have won several international awards. Netflix is the world's seventh-largest internet company by revenue.
Adobe: Betting on digital experiences
This computer software company headquartered in San Jose, moved beyond core in creative and document software into digital experiences, marketing, commerce platforms and analytics, while changing its business model from packaged software to cloud subscriptions. (Pic: Adobe/Facebook)
Success lies it the cloud
Amazon initiated "Amazon Web Services" (Cloud) to overcome the cost of infrastructure required to conduct operations. AWS has turned into a lucrative profit engine. Amazon has also built an entire ecosystem of products and services enabled by its Prime membership and is the world's largest internet company by revenue.
Holding on to a winning streak
Tencent, a Chinese multinational conglomerate holding company founded in 1998, transformed from an online messenger and video game business to an all-around technology business that has presence in entertainment, autonomous vehicle, cloud computing, and fintech. (Pic: Tentcent/Facebook)
Microsoft: Transforming businesses
Founded by Bill Gates and Paul Allen, Microsoft, has transformed from a business model based primarily on selling products, licensees (IP), and devices to a cloud-based platform-as-a-service business.
Orsted: Banking on wind
This Denmark-based power company moved from a state-owned oil and gas exploration and production company to stage a 2016 IPO as the largest offshore wind farm company in the world. (Pic: Orsted/Facebook)
Intuit, supporting SMEs
Intuit transformed from a provider of products and services to an online ecosystem of financial services for small and medium enterprises (SMEs). Intuit produces TurboTax, a consumer tax preparation application, the small business accounting program QuickBooks, professional tax solutions ProConnect Tax Online, ProSeries and Lacerte, and multiple payroll products.
Ping An, moving beyond insurance
Established as a financial services and insurance company, Ping An, is a Chinese holding conglomerate whose subsidiaries mainly deal with insurance, banking, and financial services. The company transformed itself into a cloud tech business providing fintech and AI-based medical imaging and diagnostics.
DBS: Digitally yours
DBS Bank is a multinational banking and financial services corporation headquartered in Singapore. The company was earlier called The Development Bank of Singapore Limited, before the present name was adopted in 2003. The bank transformed from a traditional regional bank to a global digital platform company, around a cultural vision of a "27,000-person startup." In 2018, it was crowned "Best Bank in the World." (Pic: DBS/Facebook)