BUSINESS TRANSFORMATION
BUSINESS TRANSFORMATION involves making fundamental changes in how business is conducted in order to help cope with shifts in the market environment. BUSINESS TRANSFORMATION is a closed loop model, a continual process woven into the fabric of revenue, profit and market share leaders of small, mid-size and mega companies.
How does it work?
BUSINESS TRANSFORMATION is the process of fundamentally changing the systems, processes, people, and technology across a whole business or business unit - to achieve measurable and continual improvements in efficiency, effectiveness and stakeholder satisfaction.Who is it for?
The need for business transformation may be caused by external changes in the market such as a company's products or services being out of date, funding or income streams being changed, new regulations coming into force, or market competition becoming more intense.Business transformation is achieved by one or more of:
Product and Service Technology Restructure
Updating the process in which you develop, create, communicate and deliver products and services to consumers.Organization Restructure
Designing a new organizational way of working and its support and management.Staff Realignment
Realigning the way your staff works ensures that they can continue to meet business demands.Typically, organizations go through several stages in transforming themselves:
Stage 1
Recognizing the need to change and gaining consensus amongst stakeholders that change is necessary.Stage 2
Agreeing what form the change should take, the objectives of the change, and a vision that describes a better future.Stage 3
Understanding what the organization is changing from and what needs to change in detail.Stage 4
Designing the new organizational way of working and its support and management.Stage 5
Designing the new organizational way of working and its support and management.Stage 6
Testing and implementing changes, usually in waves, typically over a number of years.Stage 7
Stratification of the changes, so that the organization cannot move back to how it was and will achieve the intended benefits.BUSINESS TRANSFORMATION can lead to developing new competencies and making better use of existing competencies.
Organizations Should Engage Outside Help for their BUSINESS TRANSFORMATION
Management Consultancies, such as AYFI are recognized as just Best-In-Class - providing a "fresh set of eyes" and global binoculars for risk management across sectors and industries - and in-house failures.
