Tuesday, March 27, 2018

Introduction to Business Transformation

As stated earlier, Business transformation is not just reorientation of a few parameters of your business. Only those organizations that can re-invent themselves every five years will survive in the modern business world. Therefore redefine your business with the latest techniques of Business Transformation and realign your people, processes and technology is the prime necessity of this age.
“Business Transformation is a fundamental change of the relationships between a company to everyone and the community. In other words, companies have to redefine all there relationships.“     (Gouillart and Kelly, 1995)
Transformation is the only formula that enables business to achieve success, find Key Process Indices relevant to the changed business environment & way to achieve the same. By using systematic methodology you can not only see the future challenges to your business, but also the tactics to face the challenges.
Transformation relies on implementation of effective market and stay-in-business strategies that attract more profitable customers in selected markets and lower operating costs.
Business owners are always sensitive to two factors
  1. Staying in Business
  2. Remaining profitable 
In extreme environment like the current business climate, businesses have to struggle to meet the requirements. The only solution is to understand the need to transform at right time, adopt suitable strategy for the business transformation process & implement the strategy.