Business Transformation should be approached not like an emergency medical life-and-death scenario but like an elective medical intervention that should be revisited from time to time to maintain optimum business health. The business transformation aims to make changes in processes or technology within an organization so that they can better align with business strategy and company vision.
What is Business Transformation?
In simple words, business transformation is all about identifying resources, be it human or non-human/technical, that are not working to their maximum capacity and finding alternate solutions. These alternate solutions are sought for multiple objectives like
increasing productivity, gaining market share, increasing revenue, better customer satisfaction, or reducing inefficient expenditure.
Business transformation is a positive change that brings about implementing the best thought processes and systems within an organization that can bring measurable improvements in an organization’s work effectiveness.
However, it is not as easy as it looks because multiple factors are involved in running an organization. Say an organization decides to replace an outdated technological system that has been in place for decades, and the staff is such that they fear change. Now, imagine the tough decision the leader has to take to disrupt the process while dealing delicately with people to come out positively. And this Transformation can take months of uncertainty!
Hence, transformation requires a vision, an execution plan, a deadline, and a firm footing to stick with the vision no matter what others (majorly other people in the company) say. Only then a business transformation is possible.
Besides, it is not just the responsibility of the leader to think, but every employee should keep suggesting ways to bring about transformation. Who knows, one’s idea might be taken up, and it could transform the business!!