INSIGHTS

Business transformation requires both strategic vision and solid execution, entailing a wide-reaching, cleverly driven campaign to improve the way in which an organization, private or public conducts its business. In most cases, transformations are undertaken in response to shifting market conditions, eroding competitive standing, deteriorating financial results, or simply to align to government directives, all resulting in clear indicators that prompt organizations to undertake business transformation initiatives.

Many senior managers today are aggressively trying to transform their organizations, so as to radically improve performance through changing behaviors and capabilities that attempt to continuously improve organizational performance and maintain competitive advantage. For any enterprise, a successful business transformation makeover can yield other substantial benefits such as greater clarity, re-energized leadership, improved operational efficiency and effectiveness, and stronger financial outcomes.

Theory vs. Practice

At many times, business transformation will seem to be perfectly sensible and absolutely necessary from one manager’s point of view, but not from another’s, posing disagreements and obstacles that many organizations encounter when considering effective change. Additionally, if you ask any management team what an ideal business transformational strategy is, you will probably find close agreement from a theoretical perspective. However, when implementing the transformation-which will present itself in the form of a transition, opinions will start to vary broadly, with everyone accustomed to the ‘old system.’ To tackle this issue head on, high profile organizations opt to hire experienced business transformation advisors, who not only provide guidance and implement effective transformations, but also assist you in filling the gap between the theory of change and practice of it. Additionally, an expert will help you craft a customized business transformation plan that takes into account the different variations of transformational and transactional factors, as well as the multiple elements of integration and consistency, while observing global best practices.

The ‘Transformation Triangle’

Successful business transformation requires a basic guideline when it comes to implementation; with three focal points belonging to the “Transformation Triangle”, setting you in the right direction:

• Top-down direction, which creates focus throughout an organization and works towards enhancing conditions and yielding improvement.
• Broad-based, bottom-up performance improvement, inspiring people at all levels within the organization to take a fresh approach to solving problems and improving profit.
• Cross-functional core process redesign, linking activities, functions and information in innovative ways to achieve breakthrough advances in cost, quality, and timeliness.