Business transformation

Any business has 3 main factors that mainly can impact the business :

• Employees
• Processes
• Technology

So, focusing on these factors will help the business to grow and perform better as we’ll work
on these factors:

As the market is open, and the new technologies are growing fast, There’re many reasons and situations that make the business transformation is necessary for the business.

Reasons that may be caused by the need for business transformation:

• External changes that face a business
• Market change
• Market competition
• Funding or income streams had been changed
• New regulations

If you want a successful business transformation, there’re 3-critical factors:

• Focus on the customers
• Embed continual innovation
• Learn to grow on change

Business transformation can help to:

• Improve business’s performance
• Increase market share
• Increase revenues
• Improve customers’ satisfaction
• Reduce cost (if possible)

It all starts with a strategy. This strategy must also be very clear to downstream individuals to make sure nothing is lost in translation, as a business transformation’s steps and processes shouldn’t be left open to interpretation.

Next comes identifying which capabilities are needed (or must be improved) to achieve those strategic goals.

Any transformational activity also requires staying power because there’s no reason to go through this entire process if the company falls back into its old ways as soon as the exercise is completed. The same data and metrics used to measure if the company has achieved its goals can also be used to ensure they’re being maintained once the transformation is complete.