Factors Affecting Business Transformation

 

Business Transformation pic

Business Transformation
Image: investopedia.com

Experienced in the fields of finance and sales compensation, Diane Kaern has worked for various large multi-national corporations. While working with global companies, Diane Kaern has developed proficiency in the area of business transformation.

Business transformation relates to a change in the management strategy in order to better align the business’ people, processes, and technology approaches with its current strategy and vision. Undergoing business transformation entails complex decision making and understanding of critical transformation factors, including:

Determining the right strategic vision. This involves identifying the expected needs and the estimated time the company can meet such customer needs. The process may include specifying the extent and the depth of the changes relating to internal processes and structures.

Executing the vision. Implementing the company’s vision may be the hardest part. Most companies that go through transformation fail to accomplish their desired results. This execution process may include implementing model refinements, new stakeholder involvements, and big data analysis.

Transforming leaders. Some executives may be so engaged in previous or present success that they become complacent. Business transformation is expected to be a continuous process, not a one-time success event.

Considering customer demands. Looking at a broader view, customers do not need specific products or services, they need solutions. Business transformation not only aims for alignment with customers’ needs, but it also seeks to anticipate them.

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