Incremental change

• Is doing something better without challenging underlying beliefs and assumptions. It is limited in scope and is often reversible
• Examples include tactical process changes, a new quality management process, or the implementation of new computer system to increase efficiencies in an essentially similar process

Transformational change

• Examines the underlying assumptions and structure within the organisation. The scope is much broader, and as a result the organisation will more fundamentally change its culture and/or the way it operates
• Examples include a complete reengineering of processes, structures, roles and even underlying assumptions.

Transformational change is generally required because:

• External events occur that demand a large scale change;
• Performance deteriorates or new competition demand a new way of operating.

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As signs emerge that the Australian economy has been robust in the face of the Global Financial Crisis, many organisations are pondering their options. Some enterprises will start to take more active strategic steps, and initiate more medium term investment. However, just what will happen is unclear? We have invited a representative panel of leaders to comment on how commercial organisations will respond to the early economic optimism.

Panel Members:

• John Harries – Managing Director, Banking Products, ANZ Banking Group
• Sara Gipton – CEO, Greenfleet
• Nick Vamvakis – CFO, ME Bank
• Andrew Henderson – Director and Accountable Manager, John Holland Aviation Services