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Business Transformation is the process of fundamentally changing the way an organization operates in order to improve its performance and adapt to changing market conditions. It typically involves changes to the organization's Strategy, Structure, Processes, Culture, and Technology.
Business Transformation is necessary, because the business environment is constantly changing and organizations need to be able to adapt in order to remain competitive. Transformation can help organizations improve their efficiency and productivity, reduce costs, innovate, and better serve their customers. It can also help organizations to respond to changes in the market, such as new competitors, new technologies, regulatory changes, unexpected disruptions, or shifts in customer preferences.
By undergoing regular, but necessary Transformations, organizations can ensure that they are well-positioned to adapt to a changing business environment and continue to create value for their customers and remain relevant.
In recent years, most organizations have undertaken Digital Transformation. As the name suggests, Digital Transformation is a type of Business Transformation that is driven by emerging technologies. The potential for top line growth and bottom line savings of a Digital Transformation Program exceeds that of other types of Business Transformation initiatives.
At its core, Digital Transformation is driven by the tangible shift in the role of technology within an organization. No longer as purely a support function that enables business processes, technology is now capable of much more. Technology now allows for new, innovative business models (e.g. XaaS), drives sales growth, and can be a source of Competitive Advantage. We have published an in-depth article on Digital Transformation, which dives much deeper into this subject area.
We also have a Flevy Executive Learning (FEL) online program on Corporate Transformation developed by the world's foremost expert on the topic, Dr. Robert H. Miles. Dr. Miles has led some of the most iconic Corporate Transformations, including Apple, General Electric, IBM Global Services, Symantec, National Semiconductor, Office Depot, PricewaterhouseCoopers, PGA Tour, Rockwell International, Infineon Technologies, Southern Company, and Black & Veatch, as well as a number of emerging high-tech companies.
For more information, have a look at these management topics:
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"One of the great discoveries that I have made for my business is the Flevy library of training materials.
As a Lean Transformation Expert, I am always making presentations to clients on a variety of topics: Training, Transformation, Total Productive Maintenance, Culture, Coaching, Tools, Leadership Behavior, etc. Flevy usually has just what I need to make my point. It is well worth the money to purchase these presentations. Sure, I have the knowledge and information to make my point. It is another thing to create a presentation that captures what I want to say. Flevy has saved me countless hours of preparation time that is much better spent with implementation that will actually save money for my clients." – Ed Kemmerling, Senior Lean Transformation Expert at PMG
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