Skip to Content
  • Offices

    Offices

    North & Latin America
    • Atlanta
    • Austin
    • Bogota
    • Boston
    • Buenos Aires
    • Chicago
    • Dallas
    • Denver
    • Houston
    • Los Angeles
    • Mexico City
    • Minneapolis
    • Monterrey
    • Montreal
    • New York
    • Rio de Janeiro
    • San Francisco
    • Santiago
    • São Paulo
    • Seattle
    • Silicon Valley
    • Toronto
    • Washington, DC
    Europe & Africa
    • Amsterdam
    • Athens
    • Berlin
    • Brussels
    • Copenhagen
    • Dusseldorf
    • Frankfurt
    • Helsinki
    • Istanbul
    • Johannesburg
    • Kyiv
    • Lisbon
    • London
    • Madrid
    • Milan
    • Munich
    • Oslo
    • Paris
    • Rome
    • Stockholm
    • Vienna
    • Warsaw
    • Zurich
    Middle East
    • Doha
    • Dubai
    • Riyadh
    Asia & Australia
    • Bangkok
    • Beijing
    • Bengaluru
    • Brisbane
    • Ho Chi Minh City
    • Hong Kong
    • Jakarta
    • Kuala Lumpur
    • Manila
    • Melbourne
    • Mumbai
    • New Delhi
    • Perth
    • Seoul
    • Shanghai
    • Singapore
    • Sydney
    • Tokyo
    See all offices
  • Alumni
  • Media Center
  • Subscribe
  • Contact
  • Global | English

    Select your region and language

    Global
    • Global (English)
    North & Latin America
    • Brazil (Português)
    • Argentina (Español)
    • Canada (Français)
    • Chile (Español)
    • Colombia (Español)
    Europe, Middle East, & Africa
    • France (Français)
    • DACH Region (Deutsch)
    • Italy (Italiano)
    • Spain (Español)
    • Greece (Elliniká)
    Asia & Australia
    • China (中文版)
    • Korea (한국어)
    • Japan (日本語)
  • Saved items (0)
    Saved items (0)

    You have no saved items.

    Bookmark content that interests you and it will be saved here for you to read or share later.

    Explore Bain Insights
  • Industries
    Main menu

    Industries

    • Aerospace & Defense
    • Agribusiness
    • Chemicals
    • Construction & Infrastructure
    • Consumer Products
    • Financial Services
    • Healthcare & Life Sciences
    • Industrial Machinery & Equipment
    • Media & Entertainment
      Industries
      Media & Entertainment
      • Media Lab
    • Metals
    • Mining
    • Oil & Gas
    • Paper & Packaging
    • Private Equity
      Industries
      Private Equity
      • Due Diligence
      • Exit Planning
      • Firm Strategy & Operations
      • Portfolio Value Creation
    • Social Impact
    • Retail
    • Technology
    • Telecommunications
      Industries
      Telecommunications
      • Capital Expenditure
      • Telco Digital Transformation
    • Transportation
    • Travel & Leisure
    • Utilities & Renewables
  • Consulting Services
    Main menu

    Consulting Services

    • Customer Experience
    • Sustainability
    • Innovation
    • M&A
    • Operations
    • People & Organization
    • Private Equity
    • Sales & Marketing
    • Strategy
    • AI, Insights, and Solutions
    • Technology
    • Transformation
  • Digital
  • Insights
    Main menu

    Insights

    • Industry Insights
    • Services Insights
    • Bain Books
    • Webinars
    • Bain Futures
    View all Insights
    Featured topics
    • Tariff Response
    • Artificial Intelligence
    • Thriving in Uncertainty
    • Executive Conversations
    • Macro Trends
    • Private Equity Report
    • M&A Report
    • Healthcare Private Equity Report
    • Paper & Packaging Report
    • Technology Report
    • CEO Insights
    • CFO Insights
    • COO Insights
    • CIO Insights
    • CMO Insights
    View all featured topics
  • About
    Main menu

    About

    • What We Do
    • What We Believe
    • Our People & Leadership
    • Client Results
    • Awards & Recognition
    • Global Affiliations
    Further: Our global responsibility
    • Sustainability
    • Social Impact
    • World Economic Forum
    Learn more about Further
  • Careers
    Main menu

    Careers

    • Work with Us
      Careers
      Work with Us
      • Find Your Place
      • Our Work Areas
      • Integrated Teams
      • Students
      • Internships & Programs
      • Recruiting Events
    • Life at Bain
      Careers
      Life at Bain
      • Blog: Inside Bain
      • Career Stories
      • Our People
      • Where We Work
      • Supporting Your Growth
      • Affinity Groups
      • Benefits
    • Impact Stories
    • Hiring Process
      Careers
      Hiring Process
      • What to Expect
      • Interviewing
    FIND JOBS
  • Offices
    Main menu

    Offices

    • North & Latin America
      Offices
      North & Latin America
      • Atlanta
      • Austin
      • Bogota
      • Boston
      • Buenos Aires
      • Chicago
      • Dallas
      • Denver
      • Houston
      • Los Angeles
      • Mexico City
      • Minneapolis
      • Monterrey
      • Montreal
      • New York
      • Rio de Janeiro
      • San Francisco
      • Santiago
      • São Paulo
      • Seattle
      • Silicon Valley
      • Toronto
      • Washington, DC
    • Europe & Africa
      Offices
      Europe & Africa
      • Amsterdam
      • Athens
      • Berlin
      • Brussels
      • Copenhagen
      • Dusseldorf
      • Frankfurt
      • Helsinki
      • Istanbul
      • Johannesburg
      • Kyiv
      • Lisbon
      • London
      • Madrid
      • Milan
      • Munich
      • Oslo
      • Paris
      • Rome
      • Stockholm
      • Vienna
      • Warsaw
      • Zurich
    • Middle East
      Offices
      Middle East
      • Doha
      • Dubai
      • Riyadh
    • Asia & Australia
      Offices
      Asia & Australia
      • Bangkok
      • Beijing
      • Bengaluru
      • Brisbane
      • Ho Chi Minh City
      • Hong Kong
      • Jakarta
      • Kuala Lumpur
      • Manila
      • Melbourne
      • Mumbai
      • New Delhi
      • Perth
      • Seoul
      • Shanghai
      • Singapore
      • Sydney
      • Tokyo
    See all offices
  • Alumni
  • Media Center
  • Subscribe
  • Contact
  • Global | English
    Main menu

    Select your region and language

    • Global
      Select your region and language
      Global
      • Global (English)
    • North & Latin America
      Select your region and language
      North & Latin America
      • Brazil (Português)
      • Argentina (Español)
      • Canada (Français)
      • Chile (Español)
      • Colombia (Español)
    • Europe, Middle East, & Africa
      Select your region and language
      Europe, Middle East, & Africa
      • France (Français)
      • DACH Region (Deutsch)
      • Italy (Italiano)
      • Spain (Español)
      • Greece (Elliniká)
    • Asia & Australia
      Select your region and language
      Asia & Australia
      • China (中文版)
      • Korea (한국어)
      • Japan (日本語)
  • Saved items  (0)
    Main menu
    Saved items (0)

    You have no saved items.

    Bookmark content that interests you and it will be saved here for you to read or share later.

    Explore Bain Insights
  • Industries
    • Industries

      • Aerospace & Defense
      • Agribusiness
      • Chemicals
      • Construction & Infrastructure
      • Consumer Products
      • Financial Services
      • Healthcare & Life Sciences
      • Industrial Machinery & Equipment
      • Media & Entertainment
      • Metals
      • Mining
      • Oil & Gas
      • Paper & Packaging
      • Private Equity
      • Social Impact
      • Retail
      • Technology
      • Telecommunications
      • Transportation
      • Travel & Leisure
      • Utilities & Renewables
  • Consulting Services
    • Consulting Services

      • Customer Experience
      • Sustainability
      • Innovation
      • M&A
      • Operations
      • People & Organization
      • Private Equity
      • Sales & Marketing
      • Strategy
      • AI, Insights, and Solutions
      • Technology
      • Transformation
  • Digital
  • Insights
    • Insights

      • Industry Insights
      • Services Insights
      • Bain Books
      • Webinars
      • Bain Futures
      View all Insights
      Featured topics
      • Tariff Response
      • Artificial Intelligence
      • Thriving in Uncertainty
      • Executive Conversations
      • Macro Trends
      • Private Equity Report
      • M&A Report
      • Healthcare Private Equity Report
      • Paper & Packaging Report
      • Technology Report
      • CEO Insights
      • CFO Insights
      • COO Insights
      • CIO Insights
      • CMO Insights
      View all featured topics
  • About
    • About

      • What We Do
      • What We Believe
      • Our People & Leadership
      • Client Results
      • Awards & Recognition
      • Global Affiliations
      Further: Our global responsibility
      • Sustainability
      • Social Impact
      • World Economic Forum
      Learn more about Further
  • Careers
    Popular Searches
    • Agile
    • Digital
    • Strategy
    Your Previous Searches
      Recently Visited Pages

      Content added to saved items

      Saved items (0)

      Removed from saved items

      Saved items (0)

      Forbes.com

      Walking the Talk on Change

      Walking the Talk on Change

      Three things make leading corporate change difficult, but none is an excuse to step back.

      By David Michels

      • min read
      }

      Article

      Walking the Talk on Change
      en

      This article originally appeared on Forbes.com.

      In the United States, leadership is front page news as primary voters cast their ballots for the candidates running for president. Wherever in the world they take place, political contests come down to a question of leadership, and, hopefully the ability to lead change.

      My first model of leadership was my father, a self-made entrepreneur. The first in his family to go to college, he trained as a dentist, and in the late 1970s had his entrepreneurial break-out when he launched a pioneering dental insurance company. When it comes to leadership and change, he mostly does things instinctually. “What’s so complicated?” he says. “Just go do it!”

      It’s a simple but fair question. After all, what is so complicated?

      The reality is that most leaders, whether politicians or CEOs, struggle with change, and the data bears this out. One of the saddest numbers in business is the statistic on how many corporate change efforts fail. Bain research has found 88% fall short of their original goals, and multiple other studies, while they vary in their specific findings, also conclude that the figure is high, indeed, too high.

      Most of the business executives I talk with genuinely understand both the importance and the difficulty of getting organizations and the people within them to change. Their instinct is right. Their talk is right. But then the action falls short. They can talk the talk, but don’t walk the walk.

      Why is it so hard? Let me offer up three potential reasons, and some hope for what’s on the horizon.

      First, change can feel vague and intangible, and, consequently, hard to act on. It’s like the wind: you feel its influence all around you, but cannot reach out and grab it. Managing change doesn’t lend itself easily to clean, analytic problem solving the way mathematics and engineering do. It’s complicated by human behavior and all the richness and, sometimes, craziness that brings. Because of this complexity, it’s often hard to know exactly what to do. So we retreat to our instincts with all the best intentions, and end up falling well short of what we could be. Luckily, there are practical tools and approaches that make it possible to break down change and tackle it analytically, just like any other challenge or opportunity.

      Second, because change is hard to measure, it’s also hard to manage. If executives want to improve the change-ability of their organization, they need to answer some basic questions: What baseline are we starting from? What should we do first? How do we measure progress? An instructive analogy here would be to examine the impact that measurements of customer loyalty have had over the past 20 years. Companies have long had a strong financial “currency,” a way to measure, talk about, and manage financial impact, but prior to these new measures, they had no equivalent “currency” for the health of their customer base. The advent of simple and effective ways to measure customer advocacy, including the Net Promoter Score, ushered in a revolution of investment, activity and improvement. We need the equivalent “currency” for change, to develop practical solutions.

      Third, and perhaps most profoundly, we all suffer from a number of cognitive biases, often unconcious, that can hold us back. Perhaps the most relevant is the natural human tendency to assume that how we did something in the past will also work in the future. What behavioral scientists term “outcome bias” stems from judging decisions by their outcome without sufficiently considering that chance or some other factor may have had an important impact. The outcome, even if positive, may have been even better if we had followed a different process, something we also tend to discount. Decision making generally can be improved by focusing more on process than outcome.

      Change can also take a long time, and this conflicts with another bias behavioral economists have recognized: time discounting. We weigh present rewards more heavily than future ones. Indeed, the further out the reward or change, the less valuable we see it. As humans, we gravitate toward immediate gratification, and therefore prioritize short-term action. But real change requires linking long-term thinking and strategy to implementation in order to see results.

      As my father also says, there are always reasons, but never excuses. Recognizing these reasons can help us better understand why it’s so hard to “walk the talk,” but what’s most important is what we do about that.

      How does a leader choose to react to these forces described above? Does he or she retreat to instinct? Refocus on more tangible and “pressing” topics? Delegate the problem to others? Or does he or she instead take up the challenge? Open up to learning new things? Make change tangible and part of the strategic plan? Fight accepting “change is hard” as the final answer?

      It may be complicated, yes, but with the right choices, we can indeed “just go do it.”

      Read More

      Change Management Insights

      Change management has been around for decades, but more than 70% of change efforts fail. Bain’s Results Delivery® insights help companies to predict, measure and manage risk, starting on day one.

      Authors
      • Headshot of David Michels
        David Michels
        Partner, Tokyo
      Contact us
      Related Consulting Services
      • Change Management
      How We Can Help
      • Results Delivery® Office
      Managing Change Blog
      Change Power: How Worley Improved Its Capacity for Change

      Worley’s Francis McNiff joins Bain's Dave Michels to discuss the organization's change journey.

      Read More
      Managing Change Blog
      Four Ways Leaders Can Make AI Redesigns Stick

      As companies redesign to scale AI, these four lessons help leaders ensure their organizations actually live the new operating model.

      Read More
      Managing Change Blog
      Leading Change In The AI Era: Familiar Rules, New Realities

      Amid the AI hype, the differentiator won’t be who builds a particular use case fastest—it will be who best leads the organizational change.

      Read More
      Results Delivery® Office
      CTO Insights: How to Lead a Transformation

      We spoke with executives who have run transformations at large companies about the three most critical roles of a chief transformation officer.

      Read More
      Managing Change Blog
      M&A’s Leadership Moment

      Why the world’s most effective executives now treat dealmaking as a test of adaptability, not ambition.

      Read More
      Published in March 2020
      Tags
      • Change Management
      • Managing Change Blog
      • Results Delivery® Office

      How We've Helped Clients

      Change Management Mobilization Efforts Help a Chemical Company Implement and Sustain 15% Cost Reduction

      Read case study

      Change Management Results360® Propels an Appliance Maker Into a New Era of Growth

      Read case study

      Change Management Results360® Boosts a Pharmaceutical Company’s Stock Price 135%

      Read case study

      Ready to talk?

      We work with ambitious leaders who want to define the future, not hide from it. Together, we achieve extraordinary outcomes.

      Stay ahead in a rapidly changing world. Subscribe to Bain Insights, our monthly look at the critical issues facing global businesses.

      *I have read and understand Bain’s Privacy Notice.

      Please read and agree to the Privacy Policy.
      Bain & Company
      Contact us Sustainability Accessibility Terms of use Privacy Modern Slavery Act Statement Cookie Policy Sitemap Log In

      © 1996-2026 Bain & Company, Inc.

      Contact Bain

      How can we help you?

      • Business inquiry
      • Career information
      • Press relations
      • Partnership request
      • Speaker request
      See all offices